How to Create a Fund
- Decide when to give – create a fund now, establish it in a will or create it through a trust arrangement that benefits family as well as charity.
- Decide what to give – cash, publicly traded securities, closely held stock, real estate,* tangible personal property,* life insurance, and private foundation assets.
- Choose the fund name – most funds are named for the donor, the donor’s family, or as a memorial for someone special. IF ANONYMITY IS PREFERRED, a name that reflects the fund’s charitable purpose may be chosen.
- Choose the fund type – the funds are listed below:
- Community: allows staff and the board grant committee to award grants that address the area’s community needs
- Designated: creates grants that meet needs in a particular field or geographic area
- Donor Advised: enables donor to recommend specific organizations
- Scholarship: helps students pursue academic goals
- Endowment: establishes funds for either agency or individual to offer long term support of the agency or donor’s philanthropic interests.
- Agency: established by a nonprofit agency for that nonprofit’s sole benefit.
To setup a fund at Wichita Falls Area Community Foundation, please contact us by email or call 940-766-0829.
*Reviewed by Board of Directors for market readiness.