Designated Funds

A designated fund is an advised fund whose beneficiary organization(s) have been specified by the donor(s) at the time of the gift.  Income from the fund, and in some cases principal, is distributed in accordance with the instructions provided at the time of the gift.  Designated Funds are a useful charitable tool to help specific nonprofits with programs or ongoing capital needs. Endowing a designated fund allows it to be a long term funding source for an organization where gifts would be made annually. Funds can also be named in honor and in memory of a loved one.

Establishing a Designated Fund is

• Personal:  Establish a Designated Fund in honor or in memory of a loved one or name it to recognize your family.
• Enduring: Make a continual impact on the charity of your choice, allowing it to continue its mission and contribute to the community.
• Flexible:  Add to the fund at any time.  The Whitefish Community Foundation can accept donations of almost any asset including cash, stock, and real estate.  Others can also donate to your fund.
• Efficient:  You benefit from the most advantageous tax treatment for a charitable gift, and the Community Foundation handles the administrative details.

Who should establish a Designated Fund?

A Designated Fund is ideal for families, individuals, and groups who:

• Are dedicated to supporting a specific project or charity.
• Want to make a long-term impact on the charities that are most important to them.
• Want to set up a Memorial for a loved one.

Financial facts

• A Designated Fund can be established in any amount and for as little as $5,000 to get started.
• Long-term funds (5 years or more) have investment options available.
• Each fund is charged an administrative fee for services on a sliding scale. Contact us to learn more.