Safeguard your investment, while building a stable funding stream for the future.
What are the Benefits of an Agency Fund?
Sophisticated Professional Investment Management
Funds are professionally invested under the supervision of local, community-based financial experts who have experience in building and preserving funds in perpetuity. Agency funds are pooled with other assets of the GiveWell Community Foundation for fuller diversification, with each fund accruing its own share of the earnings. An agency fund relieves agency staff and board of responsibility for accounting and management of its invested funds.
Strong Reputation for Fiscal Stewardship
Nonprofits with agency funds may enjoy the increased visibility provided by being a part of our larger giving community. Agency funds are featured on our website. An agency fund may enhance the organization’s fundraising prospects because some donors may prefer the relative long-term security of the GiveWell Community Foundation, particularly if they wish to ensure that their gifts are endowed forever.
High Quality, Cost-Efficient Administration and Stewardship Services
Staff processes timely, personalized gift acknowledgments. Fundholders also have access to our online Fundholder Portal that gives fundholders 24/7 access to their fund statements, account balances, and granting abilities.
Acceptance of Unusual Assets
Agency funds can receive the benefits of gifts that are highly advantageous to donors, but can sometimes be difficult for nonprofits to process. These include, but are not limited to, privately held stock, mutual fund shares and real estate.
GiveWell Community Foundation is a 501(c)3 public charity and charges a 0.5% administrative fee on Agency Funds, reviewed periodically by its Board of Directors, to cover the costs of its operations. This administrative fee is in addition to the relatively low-cost investment management fee that currently is 0.66%.
Planned Giving Services
The GiveWell Community Foundation serves as a partner by administering the gifts, providing information on marketing planned gifts, and by working with potential donors and their advisors to answer gift-planning inquiries.
Fundraising Advice and Counsel
While the Community Foundation is not able to serve as the fundraising arm of nonprofits with agency funds, our experienced staff is available to work with executive directors, board members, finance committees, and development staff to discuss fundraising strategies and techniques.
Permanently Endowed or Agency Advised Funds
Agencies can choose to endow funds permanently, with regular distributions as outlined in the fund agreement. Or, funds can be set up as agency advised, with the principal and income available for distribution as requested and within the parameters outlined in the fund agreement.
Who Legally Owns the Fund
Pursuant to applicable federal regulations, GiveWell Community Foundation owns the assets in the funds it administers. Accordingly, assets transferred to an Agency Fund are legally the assets of GiveWell Community Foundation, subject to the rights of the Agency as established in the fund agreement.
The minimum initial contribution for an agency fund is $10,000. The initial contribution can be made by a nonprofit and/or third party whose goal is to protect charitable dollars for the future of the organization’s work and mission.
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Call us at 863-683-3131