An agency endowment fund provides Social Impact sector organizations with a permanent and growing source of revenue and create an attractive repository for major and planned gifts.
How it Works
- A nonprofit agency makes a gift to The Oak Park-River Forest Community Foundation.
- The Fund is established with this initial agency gift and the completion of an agreement outlining terms and conditions.
- Agency Endowment Funds can be established with a minimum gift of $10,000.
- Approximately 4.5% of the balance of the Fund is available annually for the agency’s use.
- Funds are invested in a diversified portfolio designed to manage market risk, dampen market volatility and ensure steady growth over time.
- Our professional staff supports the agency in its efforts to grow its endowment, while keeping within the policies and procedures of The Community Foundation.
- Anyone may make gifts at any time to the Agency’s Endowment Fund. These gifts may be cash, publicly traded or closely held securities, bequests, planned gifts, insurance, IRAs, Remainder or Lead Trusts, real property, etc.
- While The Community Foundation must own the Fund, the assets are reported on the agency’s financial statements.
- Our professional staff handles the administrative details and legal requirements.
- Agency Endowment Funds are charged a low administrative fee.
- Fund activity information is available online. Gifts and grants are updated daily and Fund Statements including investment results are updated monthly, complete Fund Statements semiannually.
We also continue to seek and to link resources both within and outside our community to build permanent endowments that benefit local nonprofits and the work they do.
There are more than thirty local organizations who have established endowment funds with us. Creating this type of fund provides important ongoing support for the operation of an organization, now and for generations to come. It’s lasting. Endowment Funds are indicators that the agency’s leadership is planning for the future, demonstrating the strength and stability of an organization and its long-term commitment to its mission.