An endowment is a gift that keeps giving
When you give to the Cambridge & North Dumfries Community Foundation, you give a gift to your community. The difference is…forever.
How Endowed Funds work:
When you make an investment in an Endowed Fund, by contributing to either an existing fund or by starting your own fund, your gift is never spent. Instead, it is invested, and a portion of the income earned on your gift is used to make grants to the community each year.
By pooling your gift with those of others the funds grow and thrive. Your endowed fund allows us to make grants to the community each year, forever.
There are four simple steps to setting up your fund:
- Consider the best giving options for your specific objectives. There are a variety of different types of funds at your Community Foundation, see the fund types below.
- Determine the amount of your gift and the type of assets you wish to donate. From gifts of securities to bequests and insurance, your Community Foundation can help.
- Name your fund. Is there an individual or family you would like to honour? The choice is yours.
- Sign the fund agreement. Your Community Foundation will take care of all the details and present you with a fund agreement for your review and signature.
Agency Endowed Funds are established by charitable organizations to support their work. These forward-thinking organizations realize that an endowment will provide their organization with long-term stability.
Field of Interest Funds allow the donor to specify a field of interest to be supported, without naming individual charities. By defining the charitable field, grants from these funds benefit the donor’s areas of interest, while continuing to be adaptable over the long term, to best serve the community’s needs. Grants from these funds are awarded by the Foundation’s dedicated Grants Selection Committee.
A donor-designated fund allows donors to name one or more charitable organizations to benefit from the income generated by the fund, thereby providing a lasting source of revenue for the donor’s favourite charities.
A great option for individuals and corporations, Donor-Advised Funds give a donor the opportunity to participate in the grant-making process, on an annual basis. Working closely with the Foundation’s staff, you may identify and recommend specific charitable organizations you want to benefit from your fund. Corporate Donor-Advised Funds provide a mechanism to celebrate landmark occasions while creating opportunities for employees to be involved in community philanthropy.
Scholarship Funds are established in your name or in honour of an individual or business. They are used to support deserving students to further their education. We work with local schools and agencies to manage the application process and to issue the awards. We handle all the details and leave the honour of presenting the award to you.
The Smart & Caring Community Funds (Cambridge & North Dumfries) offers a collaborative approach to addressing our community’s needs. These unrestricted endowed funds allow the Community Foundation to respond with the greatest flexibility to our community’s changing priorities. Each year a dedicated and experienced Grants Selection Committee works closely with local organizations and advisors to recommend grants that will have a lasting impact.
If you would like to start your own fund or have any questions about our different fund types and what option is best for you, please contact Anne Lavender at 519-624-8972 ext. 204 or by email.