Open a Fund

Partner with the South Coast Community Foundation to make a positive impact on your community. We provide expertise and guidance to assist you in your efforts to help sustain nonprofit organizations throughout our region. We simplify the giving process for individuals, families, corporations, and nonprofits to help our partners reach their philanthropic goals.

How to Open a Fund

  1. Review donor resources and contact our team of local experts to discuss your goals and identify the best charitable giving option for you or your business. You can reach us at: funds@southcoastcf.org 508-996-8253 ext. 216
  2. Once you have determined the type of fund, complete a fund agreement: choose a name for your fund, select your advisors, and identify a cause or issue you would like your fund to support.
  3. Establish your fund by making a tax-deductible gift.
  4. Use our online fund management system to streamline your charitable giving.
  5. Recommend grants to your favorite nonprofits, access monthly statements and financial information, and more.
Once your fund has been established, you can use the online tool Fund Advisor Portal, to easily review quarterly statements, recent fund activity, contribute to your fund, and more.

If you have any questions about opening a fund, contact our team of local experts:

funds@southcoastcf.org
508-996-8253 ext. 216

Types of Funds

We offer a wide range of options for donors considering establishing a fund, from ways you can give right now to ways you can give later.

Advised Funds: Advised Funds allow the donor(s) to make tax-deductible gifts to the Foundation and then to make suggestions to the Board of Directors for the philanthropic use of the fund.

Presently the Community Foundation over 50 committee advised and donor advised funds. These funds provide philanthropic vehicles for families and groups to distribute grants and gifts to charities they care about. In several instances these funds were established as alternatives to or successors to private foundations.

Establishing an Advised Fund at the Community Foundation offers many benefits that include:

  • Maintaining your role in choosing the recipients of your grants and scholarships
  • Managing your administrative activities including meetings and correspondence
  • Assisting you with the review and evaluation of scholarships applications, grantee proposals and performance
  • Providing investment management and oversight
  • Eliminating accounting, filing and management fees
  • Providing technical assistance in fundraising, marketing, and Board development.

Donor Advised: The donor may recommend that grants be made from the income and/or principal of the fund for nonprofit purposes. While tax laws require that the Community Foundation not be bound by the donor’s suggestion, the Distribution Committee is pleased to have the opportunity to consider grants to recommended beneficiaries whose needs are consistent with its distribution policies. Such advice can include ideas for support of a specific nonprofit organization and/or programs of interest to the donor. This fund is the choice for individuals and family groups who want to work with the Community Foundation staff to develop and implement tailored giving programs.

Committee Advised: The largest Committee Advised Fund, the Acushnet Foundation Fund, merged into the Community Foundation in 2005 after a 50 year existence as an independent private foundation. The Acushnet Foundation Fund currently has more than $8 million in assets.

For more information regarding establishing an Advised Fund at the Community Foundation, please contact the John Vasconcellos at jvasconcellos@southcoastcf.org, 508-996-8253 ext. 201.

Designated Funds: For the donor who wishes to provide permanent support to a particular nonprofit organization or a number of nonprofit organizations. Principal and income can be distributed in accordance with the donor. However, the IRS requires the Community Foundation’s board to give final approval for all distributions. This fund is selected by people who wish to provide annual support to one or more designated charitable organizations in perpetuity. For many, this is a way to endow their annual giving to organizations they have supported over the years.

Field of Interest Funds: The donor may specify a particular area of concern or interest but not an organization. This frees the gift from restrictions if not relevant or practical in the future. The Distribution Committee advises the donor on disbursement of the funds, and selects the most appropriate program within the fields specified by the donor. This fund appeals to people who prefer to direct their contributions for specific areas of interest or concern such as support for the homeless, public education, or the performing arts.

Organizational Endowment Funds: A number of Southcoast nonprofit organizations have entrusted the Foundation with management of their endowments and receive regular grant distributions from their fund.

Scholarship Funds: Scholarship funds are accepted by the Community Foundation to develop support of, and participation in, the philanthropic interests and activities of the Foundation and the greater Southeastern Massachusetts community We currently manage 65 scholarship funds. They are a means of encouraging endowment support, stimulating interchange of ideas between donors and the Foundation, promoting educational opportunity and providing funds to extend the charitable programs of the Foundation. The Foundation encourages donors to create scholarship funds that will remain as permanent endowments in the Foundation.

Individuals & Families

As forward-thinking experts with over 25 years of philanthropic experience, the staff of the SouthCoast Community Foundation offers specialized knowledge and solutions, as well as a flexible, personalized approach to the process of charitable giving for individuals and families.

From scholarship funds to charitable trusts, our highly customized approach to personal philanthropy makes it easy for you to make a greater impact in our community.

Begin – or refine – your personal philanthropic journey by partnering with us to maximize benefits and help create a better future for our community.

Individual & Family Funds

Whether you’re looking to establish a charitable fund now or are simply interested in learning more about your options for the future, the SouthCoast Community Foundation offers a variety of solutions to assist in reaching your personal philanthropic goals.

Donor Advised Funds:
Donor Advised Funds are a sound option for individuals and families looking to partner with the Community Foundation to develop tailored giving programs. They allow donors to recommend that grants be made from the income or principal of the fund and reallocated to nonprofit entities, helping you support a specific nonprofit organization or program within your interest or the interest of your family.

Committee Advised Funds:
Committee Advised Funds function similarly to Donor Advised Funds but are managed by a group rather than a single donor. This allows you to come together with other charitable individuals to support an issue or cause that is important to you. This has proven to be an effective replacement for private foundations that are looking to reduce costs and administrative burden, while maintaining philanthropic impact.

Designated Funds:
Designated Funds are the fund of choice for donors who wish to provide permanent support to a particular nonprofit organization. Designated Funds allow the donor to designate one or more charitable organizations to provide annual support in perpetuity.

Field of Interest Funds:
Field of Interest Funds allow the donor to give to a particular area of concern or interest, rather than identifying a specific organization. The Community Foundation advises donors and disperses the funds to the most appropriate program or organization in your specified field of interest.

Scholarship Funds:
Scholarship funds promote educational opportunities among students in our community and provides them with the financial security to pursue their educational goals. These funds provide you with the flexibility to support students by providing educational grants, and to specify an academic discipline, institution or other eligibility criteria.

If you would like to consider ways of giving later in life, the SouthCoast Community Foundation offers a variety of estate and trust options to help meet your philanthropic goals.

Bequest by Will:
Donors may designate a gift or portion of their estate to the Community Foundation, and in some cases receive a substantial reduction in federal gift and estate taxes.

Charitable Gift Annuity:
Charitable Gift Annuities allow you to designate a gift of cash or property to the Community Foundation, receive immediate tax benefits, and ensure that you or a named recipient will receive fixed quarterly or annual income payments until your passing.

Charitable Remainder Trust:
Place cash or property into a trust that pays annual income to you or your named beneficiary for life. After the death of the beneficiary, the remainder of the trust transfers to the Community Foundation and is placed into a charitable fund designated by you.

Charitable Lead Trust:
Place cash or property into a trust that pays a fixed amount to the Community Foundation for the length of time you prefer. Once this period ends, the assets held by the trust are transferred to your named beneficiaries. In some cases, you receive a substantial reduction in federal gift and estate taxes.

Individual Retirement Account (IRA):
Naming the SouthCoast Community Foundation as the beneficiary of your IRA reduces your estate taxes and avoids taxes if given to heirs.

Gift of Real Estate:
You may donate a residence or other real property as a gift, maximizing charitable impact while leveraging significant tax benefits.

Gift of Life Insurance:
Life insurance provides a simple way for you to give a significant gift to charity, with tax benefits that you can enjoy during your lifetime.

Corporations

The SouthCoast Community Foundation partners with businesses of all sizes to develop funds and strategies that will help meet their charitable goals.

We offer a range of philanthropic solutions to expand corporate objectives and coordinate charitable giving, allowing donors to focus on their business priorities.

Corporate Funds

Donor Advised Funds:
Donor Advised Funds are a sound option for companies looking to partner with the Community Foundation to develop tailored giving programs. They allow donors to recommend that grants be made from the income or principal of the fund and reallocated to nonprofit entities. This helps you support a specific nonprofit organization or program within your interest or the interest of your corporation.

Field of Interest Funds:
Field of Interest Funds allow companies to give to a particular area of concern or interest, rather than identifying a specific organization. The Community Foundation advises donors and disperses the funds to the most appropriate program or organization in your specified field of interest.

Scholarship Funds:
Scholarship funds promote educational opportunities among students in our community and provides them with the financial security to pursue their educational goals. These funds provide companies with the flexibility to support students by providing educational grants, and to specify an academic discipline, institution or other eligibility criteria.

Designated Funds:
Designated Funds are the fund of choice for donors who wish to provide permanent support to a particular nonprofit organization. Designated Funds allow the donor to designate one or more charitable organizations to provide annual support in perpetuity.

Nonprofits

Nonprofit organizations have immense impact on our community, and we are committed to helping nonprofits thrive in Southeastern Massachusetts. The SouthCoast Community Foundation offers a range of solutions that provide financial stability and sustainability to nonprofit organizations in our community.

Our team of experts provide resources and advice, and manage charitable funds to help propel our nonprofit partners toward a prosperous future.

Nonprofit Funds

Agency Endowment Funds:
Agency Endowment Funds provide nonprofit organizations with a predictable annual revenue source to be used or re-invested at the organization’s discretion. By entrusting its Agency Endowment Fund to the SouthCoast Community Foundation, an organization benefits from economies of scale, which allow for lower trading costs per dollar of investment, diversification and professional money management.

An Agency Endowment Fund with the SouthCoast Community Foundation provides nonprofits with a cost-effective, long-term solution to help sustain their organization and allow them to focus on their work. Partnering with us for an Agency Endowment Fund allows an organization to effectively leverage our management, investment, and financial services and expertise; the fund is commingled and invested with other SouthCoast Community Foundation assets, allowing each fund the opportunity to maximize its philanthropic success.