When you establish a fund with HCF, you can designate community non-profits you want to benefit from your fund. Or, you can select an area of community interest, such as arts and culture, and then work with HCF to advise on what organizations or programs you want to benefit from your fund. Alternatively, you can entrust HCF to identify the organizations and programs to support in your specific area(s) of interest. You can establish just about any kind of fund such as a scholarship endowment for the benefit of students at a specific school. Groups of individuals can also establish a fund by combining or pooling resources. You can also make contributions of any amount to already established funds that support your area(s) of interest.
Funds can be established with a planned gift of $25,000 or with a tax-deductible gift of cash, securities or other assets valued at $25,000 or more. Through the step-up program you can start your fund with $5,000 and build it over a period of years. Under the step-up program annual returns are reinvested in the fund so that it grows more quickly to $25,000, which is the threshold for annual distributions to charitable organizations.
HCF invests your fund and each year a substantial part of the returns will be distributed by HCF to community organizations and programs you have designated. Some of the returns will be reinvested so that the fund principal not only remains intact, but also grows. This enables you, through HCF, to make larger grants over time and in perpetuity.
We are encouraging Named Endowment Funds whereby you and your family attach your names to the fund, ensuring your charitable intentions are a lasting legacy of giving within the community.
For our valued community organizations and programs your HCF endowment funds will result in a sustainable long-term funding source to augment, not replace, their independent fundraising efforts.
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