Creating a fund at the Community Foundation is an easy way to invest in our community. By establishing a fund, you can support favorite charities during your lifetime, and far beyond. Opening a fund at the Community Foundation is quick and easy – in most cases, the fund is operational in less than 24 hours. It can be done by you or by your financial representative.
Below are the simple steps to establishing a fund. Call the Community Foundation at (518) 446-9638 when you’re ready to get started.
- Identify your charitable purpose(s) or intent(s). This can range from highly specific – for example, an alma mater, church, or synagogue – to general in scope.
- Select the type of fund that best fulfills that purpose or intent.
- Complete a simple fund agreement to formalize your intentions. Depending on the type of fund being established, you should designate who will serve as current fund advisors (people who can make grants and decisions on behalf of the fund, such as yourself) and successor advisors (those who will become fund advisors after your passing, typically children or grandchildren; you may also choose not to have successor advisors).
- Name the fund. Funds can be named after the donor, you family, a cause, or something else entirely. Donors can also choose to remain anonymous.
- Activate the fund by making an establishing gift.
As a public charity, the Community Foundation for the Greater Capital Region offers donors the maximum charitable tax deduction permitted by law.