Fund Basics
Whether you have a clear view of what you wish to accomplish with your philanthropy or an idea that’s just taking shape, we can help you achieve your philanthropic goals. We will work with you to learn about your motivation for giving and then select the type of fund that supports your charitable intent.
A fund agreement defining your charitable intentions is required to establish an individually named fund with Lakeshore Community Foundation. Your fund may be set up in your name, the name of a loved one, or you may remain anonymous. If you wish to share the story of your gift, we will interview you about your history, values, and philanthropic goals. Your name and story will become part of our permanent archives and will be retold for generations to come. We invest and administer the fund on your behalf. Every year, a portion of the earnings from your fund is granted according to your wishes.
Once your fund is established, you can make contributions to it in any amount at any time. You will receive a tax deduction at the time your fund is established and when you make additional contributions to your fund. If you wish to make a contribution to the Foundation but are not inclined to establish a fund, you may make a contribution to the Lakeshore Fund or to any existing fund. To maximize your tax benefits, consult your professional advisor.
Your fund may be endowed or expendable. An endowed fund preserves the principal and only a portion of the earnings is available for granting. An expendable fund allows the fund balance to be available for granting subject to a minimum balance requirement. While we offer both endowed and expendable funds, we encourage you to consider an endowed fund since it will impact your community forever.