develop your own fund
The truth is millions of Americans don’t give.
And it negatively effects the neighborhoods in which they live.
But you are one of the local heroes who’s willing to make a difference.
When you create a fund at the Weld Community Foundation, you impact your entire community. You have the opportunity to strengthen nonprofits, enrich educational opportunities, aid people in need, and build stronger tomorrow.
But most significantly, you embolden a spirit of philanthropy in our home.
With $20,000, you can create a lasting endowment and hold a named fund at the Foundation.
Here are the steps. This is what it looks like to become a local champion of philanthropy:
The Leaving a Legacy Plan
1. Schedule an Appointment
If you are interested in starting a fund with cash, stock, real estate or other assets, give us a call. Our friendly office would love to schedule a no-pressure meeting with you. Ask for the Foundation’s President and CEO, Rand Morgan, at 970-304-9970.
2. Allow us to Create a Customized Fund
The foundation will help connect your passions and interests to the local charities and causes crucial to Weld County and beyond. We’ll put together a plan and tailor a fund that personally fits you; one that you can be excited about!
3. Let’s Execute the Plan Together
The Foundation will take on the work of stewarding your gift while you get to embrace the unique joy that comes from making your generous legacy a reality.
The Foundation offers several types of funds to accomplish a variety of charitable goals, many examples of which can be seen below. A new, named fund can be established with a total gift of $20,000 ($40,000 for scholarship funds). There are seed funding options for certain fund types. Most funds are endowed to take advantage of the Foundation’s large diversified pool and investment strategy.
For this fund-type, the advisor (one or more persons) recommends grants to charitable organizations or projects. The donor is very involved at this level of philanthropy.
Individuals, families and businesses may be especially interested in a Donor-Advised Fund if:
- You have considered establishing a private foundation but want to avoid the costs, regulations, minimum distribution rules, excise taxes and administrative costs associated with a private foundation.
- You wish to be able to vary the charities you support annually.
- You wish to involve the next generation in your charitable giving.
- You wish to benefit from the expertise of the Community Foundation regarding the changing needs of the community.
A Designated Fund may be established by a donor or an organization to benefit one or more specific charities. Examples include providing ongoing funding for a senior center, museum, church, or nonprofit organization.
When a nonprofit is ready to develop deep roots, they can choose this fund option.
An Agency Fund may be established by a charitable organization to provide a stream of revenue, fulfilling its mission well into the future. The Community Foundation staff can help develop planned giving programs and assist with investment management and administrative details.
What an incredible way to invest in your community’s future. When a donor sets up a scholarship fund a door is opened for students to reach their greatest potential.
The Community Foundation has had a robust scholarships’ program for years and stewards these gifts with expertise you can trust.
This fund-type can have two approaches.
It can target your gift to address needs in an important area of community life. Examples include youth, women in leadership, or the arts.
The Community Foundation will use your gift to make grants in the field of interest of your choice, navigating the various ways your field can best be enriched.
A Field of Interest Fund can also be for a geographical location. For example, the Fort Lupton Community Foundation and Windsor Community Foundation are both Field of Interest funds held at the Foundation.
This simply means “the beginning of a fund”.
Many of the types of funds described here, like a donor-advised or designated, may be established as a Seed Fund starting with a donation of $4,000.
This provides an opportunity for people or organizations that do not have a large amount of capital to build their fund over a number of years. The Foundation would be excited to explore this option with you.
The Impact Fund is the Weld Community Foundation’s Unrestricted Fund which simply means it is used for immediate needs that arise in Weld County or to resource special needs at the Foundation. The Board of Directors steward this fund and use it to truly best “impact” Weld County for the constantly changing dynamic of this community.
The Community Foundation accepts both permanent and non-permanent funds. Permanent funds are invested, and only income is made available for grantmaking. The principal is not spent, but retained for growth of the fund. Non-permanent funds generally provide grant support from fund assets as well as income and can be disbursed upon request.
Two categories of non-permanent funds that the Community Foundation offers are Special Project and Pass-Through Funds. The Community Foundation acts as a fiscal sponsor for a project or group that does not have its own tax-exempt status. Funds of this type allow community-minded individuals or organizations who have developed community-focused projects to meet charitable needs in the community and the ability to seek grants and solicit tax-deductible donations under the Community Foundation’s tax-exempt status.
The types of projects eligible to participate in the Community Foundation’s Special Project/Pass-Through Fund Program are those which probably would qualify for tax-exempt status under 501(c)(3) of the Internal Revenue Code. Contact us if you would like more information about our Special Project and Pass-Through Funds.
types of assets we accept
We welcome gifts of cash, which includes checks and online gifts using a credit or debit card, but we also encourage donors to consider making gifts of appreciated assets. These could be securities, such as stocks and bonds or mutual funds. We also accept gifts from retirement funds, including charitable rollover gifts (click on pdf as to how to do this) to meet required minimum distributions. Plus, you can name Weld Community Foundation as a beneficiary (or secondary beneficiary) of your retirement fund, your life insurance policy or your bank or brokerage account. Be sure to designate Weld Community Foundation as the beneficiary or payee and note the desired fund name.
Some gifts will need reviewing before we can accept them. This includes gifts of closely held stock, life insurance policies that are not fully paid policies and real property, which should have a minimum value of $100,000 after sale and reasonably be sold within six months. We can also consider gifts of charitable remainder trusts or charitable lead trusts, retained life tenancy in a residence, ranch, or farm or bargain sales.
Leave a gift in your estate to Weld Community Foundation and you’re welcomed into our Centennial Society!