Start A Forever Fund
It’s one thing to donate to a community organization. It’s quite another to make your donation last forever. But you can, and it’s surprisingly easy. All you have to do is create a Forever Fund with Durham Community Foundation.
It takes an initial contribution of just $5,000 to get your fund started. And it really is your fund – you can name it after yourself, your family, your company or organization, or even in honour of a loved one. Then the Community Foundation, in consultation with experienced wealth management firms, invests the money. As a result, the fund grows, and continues growing. Forever.
At any time, you or anyone else can make additional contributions to the fund. Plus, the Community Foundation can help promote it, so all of Durham can know about your fund, and how to make a donation to it.
Everyone who contributes – including you – is issued a tax receipt.
But here’s the best part. Each year, a portion of your Forever Fund’s investment income is distributed back into the community to support the cause(s) you believe in. The money can be awarded in two ways: as grants to non-profit organizations, or as scholarships to local students. It’s up to you when you establish your fund how the income will be disbursed. You can choose to support a single organization, or establish a field of interest, naming a range of causes you’d like to support. And those are just two of many options. The Community Foundation will help you decide the type of fund best suited to your philanthropic goals.
As your fund grows, the investment income will increase, so, every year, you’ll be able to put more money back into the community, and have an even greater impact. As we’ve said all along, this process continues. Your gift today is the start of supporting your beliefs in the community. Forever.
“Devote yourself to loving others, devote yourself to your community around you, and devote yourself to creating something that gives you purpose and meaning.”
– Mitch Albom