You can establish a fund to remember a loved one, to mark an anniversary, a wedding, a bar/bat mitzvah or birthday, or to ensure a strong community for future generations.
Funds are established by
- Individuals and families in their name(s) or in the name of a loved one(s)
- Groups of people in the name of a person they wish to honour
- Organizations and agencies to finance general needs or specific projects
- Organizations who wish to benefit from access to top-ranked investment manager and expertise that would be otherwise unavailable as a small investor.
What is a fund at The Jewish Community Foundation of Calgary?
The term “Fund” is used to describe a donor’s contribution. This contribution can be held in an endowment fund or a donor-advised flow-through fund. Both kinds of funds can carry a name chosen by the donor.
An endowment is a permanent fund–the capital donated remains in the fund with the investment income available to the donor for distribution. Since only the income is used, this form of gift ensures that a permanent legacy will exist in perpetuity. Typically grants from an endowment fund are distributed annually to designated charities based on the guidelines outlined when the fund is established, although these can be modified over time by the donor or donor’s designated representatives.
A donor-advised flow through fund is a non-permanent fund–the capital as well as the income is distributed. Distributions can be made at any time, and are based on the donor’s recommendations to the Foundation. Current JCFC policy requires that all of the monies in a fund of this sort are paid out within three years. Balances remaining in a donor-advised fund at the end of the three period can be used to establish an endowment fund.
For investment purposes, all funds are pooled and managed in aggregate. For record tracking purposes, however, each fund is segregated and accounted for separately.
Once your fund is established, contributions can be made by you, your family and friends by contacting our office or online. Donations to a fund can also be made through our tribute card program.