Setting Up a Fund
There are many options available to organisations wishing to streamline their corporate giving, including:
- Endowed Funds are permanently invested with the annual income distributed as grants. Funds are invested with regard to growing the value of your fund over time to create an expanding and sustainable source of funds for grant making in perpetuity. An endowed fund is a permanent testimony to a company’s commitment to the community.
- Revenue Funds are distributed as grants within a defined period of time, usually annually. A company channels it charitable budget through the Foundation by making an annual donation which is distributed within that year to make an immediate impact.
Your own Named Fund at Norfolk Community Foundation works just like your own charitable trust but is a lot easier for you to manage. We handle the investment, correspondence, compliance and governance. This leaves you free to focus on building your fund, perhaps over a number of years, and helping us decide which applications should receive a grant from your fund.
To cover the cost of administering your fund, as well of course as managing the grant making process, we take a contribution of up to 1% of the market value of your fund every year on endowment funds and typically 10% on revenue funds. You will find this is far less than the charges usually associated with independently managed funds.