Creating A Fund
Creating a fund with the Community Foundation is a simple process. You may establish a fund with a minimum donation of $1,000 in cash or property, with a pledge of growing the fund balance to $5,000 in contributions within five years, and complete a short donor agreement. (We cannot make distributions from funds with a value of less than $5,000.)
Anyone can establish a fund — individuals, families, corporations, institutions, courts, bequests, private foundations and charitable organizations. Each fund becomes a permanent part of the Community Foundation of Washington County MD.
The Foundation will help you decide on your charitable goals and what assets you would like to use to make your gift. You can establish a donor-advised fund, an unrestricted fund, a scholarship fund, a legacy fund, a fund in the name of your private foundation, a designated fund, a charitable gift annuity or a charitable remainder trust, a field of interest fund, or make a donation to the Foundation’s Community Fund.
Our five-year annualized return of 7.45% per year makes us one of the top performing community foundations in the country.
The Community Foundation’s Investment Committee, comprised of trustees with investment expertise, sets the overall investment policy, selects the managers and monitors their performance. Our main investment manager is Mason Investment Advisory Services. Donors establishing a fund of $100,000 or more may recommend an investment manager and strategy, subject to the approval of the Community Foundation’s Board of Trustees. Donor-designated managers include The Hershey-Fitzsimmons Group of RBC Wealth Management, The Family Heritage Trust Company and Marshfield Associates.
We meet our expenses through founder’s endowment funds, operational endowments, the Branching Out Society, special events and an annual management fee of 1% charged to all component funds. We assess 1.5% for scholarships and field of interest funds since they require greater administrative effort. These fees help pay our financial audit, salaries, rent and other expenses associated with running a nonprofit.
With the Community Foundation, you can join others who have perpetuated their giving. Our staff will work with you to help find the best approach to your personal philanthropy and create a lasting legacy. Please contact us or call (301) 745-5210 for more information on creating a fund or contributing to an existing fund.