| Establish a Fund |
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When you establish a fund with the M&M Area Community Foundation, you can support the causes and the organizations you care about. The Foundation’s professional staff makes it simple to create a fund, which will reflect your personal interests. The minimum amount needed to establish a fund is $1,000. For the fund to award grants, it must reach $10,000, which can be accumulated over ten years time with cash, securities, or certain types of real estate. You can name your fund and specify how it should be directed. The Foundation has the expertise to carry out your wishes in an efficient and creative manner. Foundation staff and volunteers are familiar with community needs and skilled in grant making. They handle all the details, including forms, filings, record-keeping, review of grant applications, receipts and thank-you notes to contributors, and follow-up on grant projects. You can be as involved, or not, as you wish. In any case, you are kept informed about how grants from your fund are used and who benefits. Two types of funds can be established. One is a permanently endowed fund from which earnings can be used regularly to support your interests. The other is a pass-through or accumulating fund, which is administered by the Foundation for a finite period of time, after which both principal and interest are totally paid out. A pass-through fund typically is used as a temporary repository before grants are made to one or more charities of the donor’s choice. It can also operate something like a line of credit, which is used to fund an ongoing project. It is easy to create a fund with the M & M Area Community Foundation, which will enrich your community for many years to come. To start the process, just give us a call at 906-864-3599 or e-mail us at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . |
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| Last Updated ( Saturday, 03 May 2008 ) |