Community Foundation for Greater Buffalo

Create a Fund

Clients come to us to make arrangements for their long-term goals for supporting the community and the issues they care about. Establishing a fund at the Community Foundation is a simple process and it starts with a conversation. We meet with each client or their professional advisor individually and discuss what their generosity strategy is; that is, what do they want to accomplish with their giving?

Getting Started

By answering a few simple questions, we can tailor a fund that is right for each individual and that supports their charitable goals:

  • Do you want to support a specific organization or issue area? (e.g., the environment, education, the changing needs of the community, etc.)
  • Do you want your fund to grant in your name after you are gone?
  • Are you interested in spending down your fund, or, would you like your fund to be endowed so that it provides for grantmaking forever?
  • What assets will you use to establish your fund?

From here, we work through questions that a client might have about the ins and outs of establishing a fund. The timeline for moving forward is dictated by the client and we are flexible for meeting and making arrangements.

How to Establish a Fund

If you are interested in partnering with the Community Foundation on your charitable giving, below are the simple steps for establishing a fund:

  1. You and the Community Foundation develop an agreement that outlines your wishes for your fund.
  2. You make a gift to the Community Foundation. You can give cash, appreciated stocks, real estate, or other assets.
  3. We set up a fund in your name, in the name of your family or business, or in honor of any person or organization you choose.
  4. You receive tax benefits in the year your gift is made.
  5. We handle the administrative details (check writing, investments, IRS filing).
  6. You choose whether you want your fund to be endowed or non-endowed:
    • Clients with endowed funds at the Community Foundation have their fund invested with our combined assets of nearly $300 million, giving them access to a diverse portfolio managed by nearly 30 carefully selected investment managers.
    • Endowed funds allow for maximum growth over time by providing between four and five percent of the balance of the fund for grantmaking each year, and investing the remainder.
    • Clients with non-endowed funds with an initial balance of $100,000 or more have the option to be invested with our nearly $300 million endowment.
    • Non-endowed funds can provide up to the full balance for grantmaking.

Contact Us

For more information contact Betsy Constantine at (716) 852-2857.

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