Getting Started

5 Steps to Open a Nonprofit Endowment Fund

1. Talk to our staff. There are pros and cons to creating an Endowment Fund that should be discussed with your Executive Director or Chief Financial Officer before you involve your Board in the process.
   
   
2. Engage your Board. If you decide to move forward, you’ll probably talk first to the Board committee that handles your finances.  We’re happy to work with you to build an objective case for their review, looking at the advantages and drawbacks of your current program versus an Endowment Fund at the Community Foundation.
    
3. Complete the paperwork. Our Fund Agreement is all you need to get started. Most people have questions about variance power and the irrevocability of gifts made to the Community Foundation. Please call us with any questions you may have.
   
   
4. Tell us about your goals. We’re here to help your organization achieve its mission in the long run.  If you want to market your Endowment Fund to your current or prospective donors, or to others in the community, we can provide assistance.  We often help nonprofits structure their donors’ major and planned gifts to their Endowment Funds.
   
   
5. Let us handle the administrative details. Once your Fund is established, we become the fiduciary.  It is our job to manage investments; conduct quarterly reviews of performance against benchmarks (via our Finance Committee); and meet with investment advisors at least annually and recommend changes where performance is lagging.