How do I create an endowment fund through Unity Foundation of La Porte County?

 



Creating a fund within Unity Foundation of La Porte County is an easy process. By working with you individually, as well as your financial advisor, our staff  is able to customize a fund to achieve your philanthropic goals. Unity Foundation of La Porte County generally uses the following process when creating a new endowment fund.

 

  1. Meet with Foundation staff to discuss philanthropic goals.

  2. Determine organization, institution, or cause to benefit from the fund.

  3. Determine restrictions that may be placed on the fund’s income.

  4. Unity Foundation of La Porte County will ensure that benefiting organization is qualified to receive grants according to IRS regulations.

  5. Unity Foundation of La Porte County will draft an endowment fund agreement.

  6. Founder of fund will review the endowment fund agreement outlining purpose of the fund to assure that charitable desires are correctly defined.

  7. Founder of the fund will sign the fund agreement and make contribution to establish the fund ($5,000 minimum).

  8. Unity Foundation of La Porte County Board will review and approve the fund agreement.

  9. Fund will be invested with Foundation’s endowment pool, increasing its earning power.

  10. When the fund balance reaches $10,000, assuming it has been invested for no less than one year, the fund may begin making grants from the generated income. The organization has the annual option to reinvest the income to help grow the fund.

  11. A fund statement will be sent on an annual basis showing all fund activity for the prior year.

 

Unity Foundation of La Porte County offers the following services to assist you in growing your fund:

  1. Marketing materials and fund promotion documents

  2. Responding to inquiries from potential donors

  3. Meeting with major gift prospects

  4. Managing complicated gifts (real estate, stock, etc.)

  5. Acknowledging all gifts to the fund