Wednesday, August 7, 2013

MORE...Doing good, locally



Photo:  stock image

Did the FRONT article on charitable funding inspire you to become more involved in philanthropy in the Roanoke Valley?  Here are some guidelines from the Foundation for Roanoke Valley to help you get started:
  • Establishing an endowment fund requires a minimum of $10 thousand.
  • Scholarship and Grantee Endowment funds require a $25 thousand minimum.
  • You and like-minded friends or family may pool your resources to reach the minimum fund requirement.
  • There are no set-up fees but the Foundation does assess a modest annual charge to administer a fund and support its work in the community.

Getting Started:

  1. First, determine your charitable purpose or intent.
  2. Select the type of charitable fund that best supports your purpose.  Foundation staff can outline your options and discuss the advantages of each.
  3. Select a name for you fund. (your name, that of a family member, the name of a favorite cause, or a name that allows you to remain anonymous)
  4. Depending on the type of fund you establish, you may designate current fund advisors such as yourself and spouse and successor advisors such as your children.  This and other information noted above will be included in the fund agreement prepared by Foundation staff.
  5. Sign the simple fund agreement.
  6. Make an establishing gift.
  7. Receive a tax deduction (to the maximum extent allowed by law) at the time the fund is established and when additional contributions are made to the fund.
For more information or to contribute to existing funds, go to:

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