Establish an Agency Fund
Below are the most common questions and answers about Agency endowments at the Community Foundation.
What is a CFNF Agency endowment fund?
A CFNF agency endowment is a fund which is kept in perpetuity to provide invested earnings for the benefit of the nonprofit organization for which the fund was established. An endowment fund grows through gifts from donors, contributions from the organization itself, and investment income.
Who should create an endowment?
Organizations with strong leadership and management, financial stability, a committed and diverse pool of donors, board and staff committed to the effort, and the capacity to engage in this long-term fundraising strategy are the best candidates for endowment development.
How do you set up an endowment fund?
A nonporfit organization can establish an Agency endowment fund with the Community Foundation by completing a fund agreement and providing an initial gift of $10,000 or more.
Why does an organization need an endowment fund?
An endowment provides an additional source of annual revenue to an organization for assisting with operations, programs or unanticipated needs, if necessary.
What is the minimum amount needed to start an endowed fund?
Who can establish an Agency endowment with the Foundation?
An Agency endowment can be established by any qualified charitable nonprofit, tax-exempt 501(c)(3) organization or by a private donor of the organization.
What are the fees at the Community Foundation?
The annual administrative fee for Agency endowments is based on fund balance as follows: