How to Open a Fund

Opening a fund at The Community Foundation for Montgomery County is quick and easy – in most cases, the fund is operational in less than 24 hours. You will receive a tax deduction at the time the fund is established and when additional contributions are made to the fund.


The Process

 

Identify your charitable purpose(s) or intent(s).
This can range from highly specific – for example, an alma mater -- to general in scope, such as “general charitable purposes.”


Select the type of fund that best fulfills this purpose or intent purpose. Consult the Types of Funds page for details. If you need more information, discuss options and the advantages of each fund type with our knowledgeable staff.

 

Complete a simple governing document. Our staff will help you to complete an official document that makes your intentions clear.

 

Name the fund. Fund names may take virtually any form – your name, a family name, your corporate name, a cause-related name, or something else entirely. You also may choose to remain anonymous.

 

Depending on the type of fund established, you should designate current fund advisors such as yourself and spouse, and successor advisors such as your children. This information will be included in your governing document.

 

Activate the fund by making an establishing gift. Visit the Options for Giving page for details.

 

Once the fund is established, you can: 

   w    Add to the fund at any time in any dollar amount

 

   w    Specify how grant disbursements should acknowledged

               You may make a grant using your fund’s name, or you may remain anonymous

 

   w    Make grants to any nonprofit organization across the United States and throughout the world