Creating a Fund

Creating a permanent endowment fund at the Community Foundation of Abilene is a simple, powerful way to accomplishing your charitable goals. Your gift offers you the maximum tax deduction and allows you to make a difference today and always through a lasting legacy.

  • There is no cost to start a fund. Our annual administrative fee depends on the type of fund and ranges from .50% to 1.5%. This fee contributes to the operation of the Foundation, including stewardship, grant making and community leadership.
  • Our minimum endowment is $10,000. For scholarship funds, we suggest a minimum of $20,000. We encourage donors to consider our Build-a-Fund Program that grows an endowment over a period of three to five years.
  • It’s fast and easy. The necessary documents can be completed quickly after you and your advisors make the decision about the type of fund you want and the assets you wish to donate.

Here are the three simple steps that create a gift that never stops giving.

1. Choose a name for the fund.

A fund’s name identifies it forever. When a grant is made from a fund, it is recognized by this name. Possibilities and examples include:

  • The name of the person(s) establishing the fund (the Ralph and Nelle Hooks Unrestricted Fund)
  • A family name (the Beckham Family Fund)
  • A favorite cause (the Maggy Morford Fund for St. John’s Episcopal School)
  • A memorial (the Arthur Jay Beitscher Memorial Fund)
  • An anonymous fund (the We Care Fund)

2. Focus the beneficiary of your fund and the impact you want to make.

Donors may designate their funds in one or more of the following ways:

  • Unrestricted
  • Field of Interest
  • Designated
  • Scholarship
  • Donor advised
  • Supporting organization
  • Agency endowment

Read more about these types of funds.

3. Choose the best way to make your gift and leave your legacy.

  • Cash
  • Securities
  • Real Estate
  • Bequests
  • Charitable remainder trusts
  • Insurance

Read more about these ways to give.

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“David and I decided to set up a family Donor Advised Fund through the Community Foundation in 2011 with the intent to include and teach our two boys, Drake, age 12,  and Sam, age 5, about charitable giving and how to be good stewards by giving back to the community. We decided to ‘gift’ ownership to Drake in the fund at Christmas as he was old enough to understand what it means to give back. Upon Sam’s twelfth birthday we plan to do the same.”

Mrs. Cathie Coleman, Donor Advisor and Future Fund Member