Agency Endowment Fund Agreement

Nonprofits have two types of funds to choose from when creating a fund at the Community Foundation. A fund created by the agency or not at the San Luis Obispo County Community Foundation is an easy way for nonprofits to create a fund, eliminate administrative burdens, and increase the ability to handle large and complex gifts. Both offer a reliable source of financial support to the organization with a fund that earns interest through pool investments. Endowment funds are a permanent resource for your organization, which generates a steady stream of income each year while investing for the long term. It is a long-term fund owned and managed by the Community Foundation on behalf of a non-profit organization. The non-profit organization receives annual distributions for the purposes set out in the Fund agreement. The fund is technically held by the Community Foundation on behalf of your agency. We are proud to manage the following agency foundations for a number of nonprofits in Whatcom County: $25,000 in cash, securities, or other property. Contributions may be included in the Fund at any time and at any time. These funds save organizations unsused dollars in a professionally managed fund that remains fully accessible. This is a flexible and simple way for non-profit organizations to set up funds for a project or for the future needs of the business.

A standing endowment fund gives organizations the opportunity to create a fund that generates, year after year, capital income that can be used in determined annual payments to the organization or reinvested in the fund to grow over time. The sustainability of an endowment fund is both attractive and reassuring for donors and nonprofits seeking the enduring value of a committed source of income to support the organization they love today and forever. . . .