Create a Named FundNamed funds are the equivalent of setting up your own charitable trust. Your name or company name can be associated with it and you can control where the money is spent. You can set it up with a one-off donation or can build it up over time. Once it is there, we will invest the money to grow it, but you and others can continue to contribute to it so it keeps on growing for the benefit of local communities.
There are many benefits in setting up a Named Fund as an alternative to establishing a charitable trust. We are also able to work with you if you have already set up a trust. Depending on the closure provisions of your already established trust, it may be possible to convert it to a Named Fund at the Foundation.
You could set up an advisory board which might include current trustees who could continue to decide where the funds are spent, without having the administrative burdens and a fraction of the costs. If you have doubts about routing money through an intermediary - rest assured, community foundations are a very cost effective way of supporting local good causes.
To discuss setting up a fund or to put any concerns to rest please contact us and we will be delighted to spend some time answering your questions.