| Opening A Fund |
| Establishing a fund at Crossroads gives your client the satisfaction of giving back to the community in a simple and flexible way. An individual, family, company or private foundation can establish a fund. The Foundation provides all administrative services related to the fund, including tax documentation, record keeping of all fund activity and investments and grant distributions to charities. Steps to opening a fund 1. You and your client decide which Fund Option best fits. In making this decision, you may consult with our experienced staff by calling (508) 647-2260 or email Susan McGarvey 2. The donor completes a simple New Fund Worksheet. If it is a Donor Advised Fund, the donor names the current fund advisors and also may name successor advisors such as children. 3. The donor makes his or her initial gift (of cash, stock or other assets). Click Here for options on what to give. For Stock Transfer Instructions Click Here or call (508) 647-2260 Once the fund is established 1. The donor receives an income tax charitable deduction at the time the gift is made and each time additional contributions are made to the fund. 2. The Foundation invests the assets based on the donor's choice of investment options. 3. Depending on how the fund is established, the donor sends the Foundation grant recommendations from the fund which the donor can make in their name, the fund's name or anonymously. 4. The donor receives quarterly statements of the fund's activity, including the fund balance and grants made. 5. Gifts may be added to the fund at anytime through outright gifts, by bequest, through a charitable trust, charitable gift annuity or other form of planned gift. |
