How to Start a Fund

It’s easy to establish your own named charitable fund. Working with a member of our staff, and your financial advisor if applicable, it can be done in less than a day.

Benefits of Starting a Fund with the Keweenaw Community Foundation

  1. Acknowledgement letters thanking donors for their charitable contributions.
  2. Advertising/Marketing with fund webpage, social media posts, and press releases.
  3. Quarterly account statements.
  4. Planned giving assistance.
  5. Fund distributions.

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Steps to Establishing Your Fund:

  1. Determine your charitable purpose of intent.
  2. Select the type of charitable fund that best supports your purpose. Our staff will outline your options and discuss the advantages of each.
  3. Complete a simple governing document. Our staff will help you make your intentions clear.
  4. Select a name for your fund. You can use your name, that of a family member, the name of a favorite cause, or choose a name that allows you to remain anonymous.
  5. Depending on the type of fund you establish, you may designate current fund advisors such as yourself and spouse, as well as successor advisors such as your children. The information will be included in your governing document.
  6. Make an establishing gift.
  7. Receive a tax deduction at the time the fund is established and when additional contributions are made to the fund.
  8. Enjoy giving through your fund!

Once Your Fund is Established, You Can:

  • Add to the fund at any time in any dollar amount.
  • Specify how grant disbursements are to be acknowledged – whether in the name of the fund or anonymously.
  • If you’ve established a donor advised fund, you may recommend distributions to charities, locally or throughout the United States.

Contact Us

To establish a fund, please contact us. We would be happy to assist you.