Philanthropy builds community and changes lives. East Texas Communities Foundation supports philanthropy by offering simple ways for donors to achieve their charitable goals.
ESTABLISHING A FUND
Once you have decided to partner with East Texas Communities Foundation to help you reach your philanthropic goals, the process of setting up a fund is quite simple.
It is easy to create a fund in your own name or in the name or memory of a loved one. The staff of ETCF can walk you through the simple steps to creating your fund.
First, determine you charitable interest and your intent:
- Select the type of fund that will allow you to carry out your intentions. The Fund Option Flowchart is very helpful. ETCF staff will be able to provide information to you and your professional advisors.
- Complete a donor agreement form that names your fund and makes your intentions clear. You may use your own name or that of a family member or charitable interest, or choose a name that allows you to remain anonymous.
- You may name current and successor advisors depending on the type of fund you choose.
- Make an initial gift to establish the fund. Receive a tax deduction at the time the fund is established, and each time you make an additional contribution to the fund.
After the fund is established:
- Add to the fund at any time and in any amount
- Friends or family may make tax deductible gifts to the fund.
- Make grant disbursement recommendations and specify whether awards should be acknowledged in the name of the fund or anonymously.
- With a Donor Advised Fund, you may recommend distributions directly to charities locally, nationally and in many cases internationally.