Create a Fund
At the Community Foundation of Tompkins
County we welcome gifts of any size.
All donor gifts are managed by investment professionals and receive the maximum
tax benefits available under the current tax laws. All funds are carefully
supervised by the Foundation’s Board of Directors.
Fund Options for Individuals, Groups,
Agencies, or Organizations
| Fund Type |
Definition(s) |
Minimum to Establish |
Costs to Donor |
Decision Makers and Process |
Funding Sources |
Donor
Advised Fund
(DAF) |
• Fund named by donor or others whom donor chooses
•
Supports donor's charitable giving interests and decisions on an annual
basis or as desired
• Carries one-generation successor rights
• To dissolve, account must be spent down to zero through
the granting process. |
$10,000 |
1% yearly
(>$50K)
1.5%/min $150 yearly
(<$50K)
|
Donor or designees recommend grants; CF Board of Directors reviews/takes
action. |
• checks
• bequests
• appreciated
securities
• mutual funds
• insurance annuities
• retirement accounts
• real estate |
| Designated
Funds |
• Type of DAF
• Donor establishes account for specific
designated causes
• Annual income for fund in perpetuity
• Usually carries the name of the designee (i.e. The Hospital
Fund) |
$10,000 |
1% yearly
(>$50K)
1.5%/min $150 yearly
(<$50K)
|
Donor or designees recommend grants; CF Board of Directors reviews/takes
action. |
| |
|
