GRAYS HARBOR COMMUNITY FOUNDATION

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ESTABLISH A NEW FUND

 

The central idea that has driven the growth of community foundations for almost 80 years is so simple it might be overlooked:  more people will give if they have the tools to make it easier for them to give.

In this section, we explain what it takes to establish a new fund at the Grays Harbor Community Foundation.

HOW IT WORKS

 

Setting up a new fund at the Grays Harbor Community Foundation typically takes less than an hour.  For most funds, we modify a simple agreement corresponding to one of five basic fund types, tailoring it to fit the donor's objectives.  The basic fund types are:  unrestricted, area of interest, designated, donor advised, and scholarship.  Some donors' interests may warrant the design of a custom agreement.

Once your fund is set up, we maintain a separate file for it and handle all tax filings, grants processing, and other paperwork for the fund. 

While each fund is accounted for individually, the assets of most funds are pooled together for investment purposes.  Our ability to pool funds helps us realize certain economies of scale that would not be available were each of our funds managed separately. 

There's no fee to establish a fund.  There is currently also no minimum amount we ask donors to contribute.  (Of course, too small a gift may not be sufficient to meet a donor's objectives.)  Our expenses are covered by a 1% annual fee we charge to all of our funds.  That means that for a gift of $10,000, we will allocate from the fund $100 each year to cover our administrative expenses.  This sort of fee-arrangement has been the standard practice of community foundations across the country for 90 years.

Our staff has access to an extraordinary range of resources for donors with specific goals.  As members of the Council on Foundations, we have access to a network of more than 650 community foundations throughout the country.  Our aim, now and always, is to provide professional service and thorough knowledge of community needs for all donors in Grays Harbor.

The best way to learn about the advantages of establishing a new fund is to contact us. 

 

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Grays Harbor Community Foundation is a tax-exempt public charity dedicated to serving the broad needs of Grays Harbor County in Washington State.  We are a member of the Council on Foundations; we have committed ourselves to the National Standards for U.S. community foundations; we are audited annually; and we consider ourselves accountable to the public upon whom we depend for support.

We thank Darrell Westmoreland, Kevin Hong, Ellen Pickell, and the Polson Museum for providing the photographs used in this website.  We'd like to showcase the work of more local photographers and artists on this website and in our publications.  Please contact us if you'd like to help. 

Mail:        707 J Street  |  P.O. Box 615  |  Hoquiam, WA  98550
Email:      info@gh-cf.org
Phone:     360.532.1600
Fax:         360.532.8111
Last modified: 08/21/06