Creating a Fund
Creating a fund with the Community Foundation is a simple process. You may establish a fund with a minimum donation of $1,000 in cash or property, with a pledge of growing the fund balance to $5,000 in contributions within five years, and complete a short donor agreement.
Fund distributions can begin once a fund reaches a value of $5,000 or more. We want to enable our donors get to that number as quickly as possible so that their funds can begin giving back to the causes they support.
Anyone can establish a fund — individuals, families, corporations, institutions, courts, bequests, private foundations and charitable organizations. Each fund becomes a permanent part of the Community Foundation of Washington County MD.
The Foundation will help you decide on your charitable goals and what assets you would like to use to make your gift. You can establish a donor-advised fund, an unrestricted fund, a scholarship fund, a legacy fund, a fund in the name of your private foundation, a designated fund, a charitable gift annuity or a charitable remainder trust, a field of interest fund, or make a donation to the Foundation’s Community Fund.
Fund Performance
Our five-year annualized return of 7.45% per year makes us one of the top performing community foundations in the country.
The Community Foundation’s Investment Committee, comprised of trustees with investment expertise, sets the overall investment policy, selects the managers and monitors their performance. Our main investment manager is Mason Investment Advisory Services. Donors establishing a fund of $100,000 or more may recommend an investment manager and strategy, subject to the approval of the Community Foundation’s Board of Trustees. Donor-designated managers include The Hershey-Fitzsimmons Group of RBC Wealth Management, The Family Heritage Trust Company and Marshfield Associates.
Administrative Fees
We meet our expenses through founder’s endowment funds, operational endowments, the Branching Out Society, special events and an annual management fee of 1% charged to all component funds. We assess 1.5% for scholarships and field of interest funds since they require greater administrative effort. These fees help pay our financial audit, salaries, rent and other expenses associated with running a nonprofit.
With the Community Foundation, you can join others who have perpetuated their giving. Our staff will work with you to help find the best approach to your personal philanthropy and create a lasting legacy. Please contact us or call (301) 745-5210 for more information on creating a fund or contributing to an existing fund.
Creating a Legacy
It’s thanks to our gracious donors that we are able to provide for the hundreds of causes and scholarships each year. Local community foundations like ours allow us to preserve a bright future for our friends, families, and neighbors for generations to come. If you’re ready to donate, we’ll help you make the biggest impact with your funds.
Call us to learn about our funding opportunities or how we can help connect you to a larger endeavor.
