How to Create a Fund

Creating a Fund with Union County Community Foundation

Funds at UCCF are created for a variety of reasons. The idea of a scholarship (or another type of charitable fund) to perpetuate the memory of a loved one can be a comfort, or donors may want to support their churches or favorite non-profit organizations.

How to get started creating a fund

An endowed fund – one that will last in perpetuity – should have a minimum amount of $10,000. The donor is allowed three years to raise that total. Once the fund is fully endowed, a calculated amount of this investment will be available for awarding scholarships or grants. A built-in growth factor is determined and continued gifts are encouraged. A monthly financial report is provided on-line and there is a small management fee.

What will it cost?

There is no charge for creating a fund and the donor may begin developing assets immediately upon verification from this office. At an appropriate time, the donor or designee will be asked to decide about the specifics of the grant or scholarship. The donor may want to designate a particular school, a field of interest (education, art, religion, etc), or charitable organization. The donor has a great deal of flexibility in dealing with specifics that will meet individual needs.

For more information, call the Union County Community Foundation at 870.862.8223.