Create or Make a Gift
How can I create or make a gift to a fund through a client's
will or trust?
Once your client decides to make a gift through The Community Foundation, we can guide them through the options available to them:
Create a new fund
Funds can be established with us your client's name or anonymously or as little as $10,000. The gift used to create the fund may be made through an outright or planned gift now, or through an estate gift.
Consider the following types of funds that may best fit your client's needs:
Give to an existing fund
The Community Foundation has several grantmaking initiatives that benefit a wide variety of organizations and causes. Gifts may be made directly to an initiative or fund. For more information: List of Funds, Grantmaking Initiatives
Create or give to a fund through a will or trust
If your client wishes to create a fund at The Community Foundation by making a bequest or gift through a will or trust, you must first determine the type of fund the client wishes to create. Then include the language specified below in the will or trust agreement.
We prefer to discuss the proposed fund with your client to ensure that we understand the client's intent regarding use of the fund. That intent can then be documented in a separate fund agreement or other written directive to guide the Foundation once the fund is created.
Choose from the following for sample language:
Unrestricted Fund
I give and bequeath to The Community Foundation, Inc., a Florida not-for-profit corporation located in Jacksonville, FL, federal tax identification number 59-6150746 (the "Foundation"), the sum of $------ [or ---% of the residue of my estate] to be used for the charitable purposes set forth in its Articles of Incorporation. The Community Foundation shall use such gift to create on its books a component fund that shall be known as [name of fund]. The Fund so established is intended to be a permanent endowment, and it shall be administered in accordance with the Foundation's policies regarding such funds, as they may exist or be amended from time to time. The Foundation will make grants from the fund for such purposes as its Board of Trustees from time to time shall determine in their sole discretion.
Field of Interest Fund
I give and bequeath to The Community Foundation, Inc., a Florida not-for-profit corporation located in Jacksonville, Florida, federal tax identification number 59-6150746 (the "Foundation"), the sum of $____ [or ___% of the residue of my estate] to be used for the charitable purposes set forth in its Articles of Incorporation. The Foundation shall use the gift to establish on its books a component fund to be known as [fund name]. The Fund so established is intended to be a permanent endowment, and it shall be administered in accordance with the Foundation's policies regarding such funds, as they may exist or be amended from time to time. The Foundation will make grants from the Fund for the purpose of [describe with as much specificity as possible].
Designated Fund
I give and bequeath to The Community Foundation, Inc., a Florida not-for-profit corporation located in Jacksonville, Florida, federal tax identification number 59-6150746 (the "Foundation"), the sum of $____ [or ___% of the residue of my estate] to be used for the purposes set forth in its Articles of Incorporation. The Foundation shall use the gift to establish on its books a component fund to be known as [fund name]. The Fund so established shall be administered as a permanent endowment, and it shall be administered in accordance with the Foundation's policies regarding such funds, as they may exist or be amended from time to time. The Foundation shall use the Fund to provide grants annually to [name each organization and the % payable to each if more than one], provided that all such organizations are exempt from taxation under the Internal Revenue Code.
Adding to an Existing Fund
Alternatively, the client may wish to make a bequest to an existing fund. In that case, include the following language:
I give and bequeath to The Community Foundation, Inc., a Florida not-for-profit corporation located in Jacksonville, Florida, federal Tax identification member 59-6150746 (the "Foundation"), the sum of $------ [or ---% of the residue of my estate] to be used for the Foundation's charitable purposes. The gift shall be added to and become a part of the [name of fund] and shall be administered in accordance with the document by which the fund was originally created and the Foundation's policies regarding such funds, as they may exist or be amended from time to time.
For more information, contact Bob Roberts.