Creating A Fund

Brad-Jim

Creating a fund with the Community Foundation is a simple process. A fund is created 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 the completion of a simple 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.

FUND PERFORMANCE

Our five-year annualized return of 6.0% per year makes our Foundation one of the top performing community foundations in the country!

The Foundation’s Investment Committee, composed of Foundation 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. Donor-designated managers include Fulton Financial Advisors, The Hershey-Fitzsimmons Group of RBC Wealth Management, The Family Heritage Trust Company and Marshfield Associates. Donors establishing a fund with $100,000 or more may recommend an investment manager and strategy, subject to the approval of the Foundation’s Board of Trustees.

 

ADMINISTRATIVE FEES

We meet our operational expenses through Founder’s Funds, operational endowments, contributions to the Branching Out Society, special events, and an annual management fee of 1% charged to all of our component funds. For scholarship funds, we charge 1.5% since they require a higher administrative effort. These fees help pay for the financial audit, salaries, rent and other expenses associated with running a nonprofit.

With the help of the Foundation, you can join others who have perpetuated their giving. Our staff would love to work with you and your financial advisors to find the best approach to your personal philanthropy. Please contact us or call (301) 745-5210 for more information on creating a fund or contributing to an existing fund.