Establishing Funds

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How Can I Establish a Fund in the Lenawee Community Foundation?

The Lenawee Community Foundation exists to help you achieve your philanthropic goals.  Donors from all walks of life can utilize the Foundation, as the vehicle to make their charitable dreams come true.

Giving does not need to be complicated, nor does it require great wealth.  Lenawee Community Foundation donors share a dream of enriching the lives of others, while creating a legacy of giving that goes on for good for ever.

Establishing Funds:

  • First, think about your charitable goals.  What do you care about the most?  What do you support now with your time, talent, or gifts?  What would you like your legacy to be?  Foundation staff will be happy to work with you, as resources in this process.
  • Select a name for your fund.  You can use your name, a business or organization name, a name that describes the purpose of your fund, the name of a person you wish to honor, or the name of a person for whom you wish to create a lasting memory.
  • The Lenawee Community Foundation specializes in endowed funds that are permanently invested, so earnings can be utilized for grants forever.  However, some donors start with a “spendable” fund and then convert it later to an endowed fund through their will or trust.  Determine which alternative will be the best fit for you.
  • Decide the amount you would like to invest, and then share your goals with our staff, who will draft a simple fund agreement for your signature.  Our fund minimum is $10,000, however we will work with you if you wish to build your fund over time.  You can create your fund through a current gift, or a planned gift through your will or trust.  What is most important is that your wishes are known, so they can be achieved.
  • Determine the type of gift you will use to initiate your fund.  In addition to cash or checks, the Lenawee Community Foundation accepts stocks, life insurance, real estate, IRAs or pension plan assets, and other types of gifts.  Please consult with your professional advisor to determine the best way for you to accomplish your charitable and financial goals.
  • Dedicated community leaders on the Foundation Board of Directors will continue to ensure organizational integrity, our reputation for impeccable service, and accountability to our donors and community.  Our Investment Committee will oversee expert investment management and assure that investment managers meet benchmarks.  Our staff will handle all of the administrative and accounting details, plus share our community knowledge with you.
  • You have 24-hour online access to your financial statements, and our staff members are available during normal business hours to answer your questions.
  • Your fund is invested to grow over time with earnings given in charitable grants.  You recommend the grants, and then the distributions are approved by our Board of Directors.
  • You experience the joy in giving!

For more information about Establishing Funds, contact Sue Hammersmith at the Lenawee Community Foundation.