Starting A Fund
Starting a fund at the Saginaw Community Foundation is quick, easy and personalized process. To get started, contact Brian Jackson at (989) 755-0545 or brian@saginawfoundation.org.
The Process:
Identify your charitable purpose(s) or intent(s).
Starting a fund at the foundation enables you to make an impact in the areas you care about most. SCF can share information on the needs in the community and help you identify the purpose of your fund. This can range from highly specific, such as supporting the medical school at your alma mater, to more general in scope, such as supporting programs that affect families in Saginaw County. Print our Deciding to Give document to help determine your charitable priorities.
Select the type of fund that best fulfills that purpose or intent.
There are a variety of fund types available, depending on your giving needs and charitable goals. You can learn more about these fund types within our Donor Resources.
Complete a simple governing document.
SCF will help you complete a fund agreement to make your intentions as a donor clear. Depending on the type of fund established, you may designate fund advisors, such as yourself and your spouse, and successor advisors, such as your children.
Name the fund.
Donors may name a fund to create a legacy (Flegenheimer Family Foundation Fund), honor or memorialize a loved one (Rose M. Mudd Farmer’s Market Fund), communicate stability (St. Charles Community Schools Foundation), promote a cause or organization (Saginaw Choral Society Endowment Fund) or something else entirely. Donors also may choose to remain anonymous.
Activate the fund by making an establishing gift.
You can initiate a fund with any amount. However, grants cannot be awarded until the corpus reaches a minimum of $10,000. The corpus is the amount not spent. The income from investing the corpus will serve as an investment in the community through grantmaking. You can start your fund with outright gifts, including cash, securities and life insurance, as well as real estate, memorial gifts, charitable remainder trusts, charitable gift annuities or other planned giving instruments.
Add to the fund at any time, in any dollar amount.
Anyone can donate to your fund at the foundation. You also can fundraise to grow your fund, or let it stay at the minimum of $10,000. Depending on rates of return, grants will be made from the income of the fund.
