By establishing a Designated Fund, a donor may support the good work of a speciﬁc nonproﬁt organization. Because it is given through the community foundation, this type fund not only provides the organization you select funding, but offers planned giving, investment management services, and the power of endowment.
Designated Funds allow donors to name the charitable recipients. The Foundation administers gifts to the charities annually. In addition, the Foundation verifies the charity remains eligible to receive gifts over time. Should circumstances change and an organization no longer exists, the Foundation ensures the annual grants are redirected to an appropriate recipient, keeping in mind the donor’s original intent. A designated fund may be established with a donation of $10,000. This may be given in increments over a period of five years.
How it works
- You identify an organization that you wish to beneﬁt.
- You make a gift to your community foundation — you can give cash, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name or in the name of the nonproﬁt organization you choose.
- You receive tax beneﬁts in the year your gift is made.
- Our board issues grants to the designated nonproﬁt organization and we handle all the administrative details, including managing speciﬁc qualiﬁcations that you may establish for grant disbursements.
- You receive updates on the impact the fund is making.
- Your gift can be placed into an endowment that is invested over time. Earnings from your fund will provide support for the designated organization into perpetuity.
- Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
Current Designated Funds at PACF
- Celebrating Parsons (Katy Days) Fund
- Curious Minds Expanding Potential Fund
- Hannah’s Promise Endowed Fund
- Labette Community College Endowment for the Arts
- Paul and Berniece LaForge Fund for St. Patrick’s Catholic Church and LAC
- Murland and Charlene Taylor Family Fund – (20% designated for St. Patrick’s Catholic School)
- Troy Fund for Parsons Senior Center
- Virginia Wommack Fund for Proud Animal Lovers Shelter
- Virginia Wommack Fund for Labette Community College Athletics