Designated Fund

Welcome to the Austin Community Foundation

We look forward to making your giving easy, flexible and effective.

Please complete this Fund Agreement form to establish a Designated Fund (“Fund”) with an irrevocable gift to the Austin Community Foundation (the “Foundation”).

Designated Funds are created to support one or more specified organizations that the Donor names in this Agreement. Distribution from the Fund may provide general benefit to a particular organization or may be specified or a specific program or project of the organization.

Further information about this Fund Agreement is contained in the publication, The Charitable Giving Guide, available from the Foundation and also available online. For more information, please contact the Foundation at 512.472.4483.

charitable fund agreement

1.) name the fund

Please choose a name for the Fund. Grants made to charities are accompanied by a letter which includes the Fund name (e.g. The Jane and James Smith Family Fund) and the name and address of the Donor Advisor(s) recommending the grant.

If Donors wish the Fund name to be anonymous, please name it accordingly (e.g. ABC Fund).

Check here to authorize the Foundation to use the Fund name in Foundation materials. Allowing us to do so will not only recognize the Donor’s participation, but will encourage others to follow the Donor’s example.

Check here if the Donor wishes all grants from the Fund to remain Anonymous.

2.) purpose of the fund

Please describe the purpose of this fund.

3.) donor information

Please provide contact information for the Donor(s) to the Fund.

DONOR 1

FULL NAME (FIRST,MIDDLE,LAST)

PREFERRED SALUTATION (e.g. Mr., Mrs., Ms., Dr.)

HOME ADDRESS

CITY / STATE / ZIP

DATE OF BIRTH

RELATIONSHIP TO DONOR 2

BUSINESS OR ORGANIZATION NAME

DONOR 1 POSITION

BUSINESS ADDRESS

BUSINESS CITY / STATE / ZIP

DONOR HOME PHONE

BUSINESS PHONE

DONOR 1 EMAIL

Where would they like to be contacted?
AT HOME AT OFFICE

DONOR 2

FULL NAME (FIRST,MIDDLE,LAST)

PREFERRED SALUTATION (e.g. Mr., Mrs., Ms., Dr.)

HOME ADDRESS

CITY / STATE / ZIP

DATE OF BIRTH

RELATIONSHIP TO DONOR 1

BUSINESS OR ORGANIZATION NAME

DONOR 2 POSITION

BUSINESS ADDRESS

CITY / STATE / ZIP

DONOR 2 HOME PHONE

BUSINESS PHONE

Where would they like to be contacted?
AT HOME AT OFFICE

4.) contributions

Indicate the amount of the initial contribution and how it is being paid. Additional gifts can be made at any time. If making a contribution of multiple securities or assets, please attach pages as needed.

Amount (or an estimate) of initial contribution

Check for

Marketable Securities - (?) shares of (?)

Mutual Fund Shares - (?) shares of (?)

Closely held stock, Partnership, LLC interest

Real Estate (Please contact the Foundation about any gift of real estate)

IRA/Retirement Plan/Life Insurance (Attach copy of your Beneficiary Designation Form below)

Bequest or other deferred gift

Other

5.) type of fund

Endowed:
An Endowed Fund is a permanent, legacy Fund. Its assets are irrevocably held by the Foundation and are managed to accomplish the designated charitable purposes. Endowed Funds are designed to preserve the gift in perpetuity, so only the Available to Grant amount can be used for distribution.

Determination of amount Available to Grant for Endowed Funds is based upon the spending policy of the Foundation as established by the Board of Governors from time to time. The current spending policy as established by the Board of Governors is that five percent (5%) of the Fund’s value as of December 31 each year shall be the available to Grant amount in the following year. If for any reason, the Available to Grant amount is not distributed in a single year, any remaining balance will continue to be available for grantmaking, plus the annual calculation of the amount Available to Grant will be added to such remaining balance.

Quasi-endowed:
A Quasi-endowed Fund is treated like an endowment fund for investment purposes, all of the income and principal of the Fund are available for distribution.

Non-endowed:
A Non-endowed Fund is not invested by the Foundation in its investment pools. The amount available for distribution equal the amount of all gifts received less any grant distributions that have been made. All amounts in the Fund are available for distribution.

Please choose whether the Fund will be Endowed, Quasi-endowed or Non-endowed.
Endowed
Quasi-endowed
Non-endowed

6.) designated organizations

Name the designated organization that will benefit from this Fund Agreement. If more than one organization is designated as a recipient for distributions, please include the percentage of the annual spendable amount to be distributed from the Fund to each organization. The total of the percentages should equal 100%.

ORGANIZATION 1

ORGANIZATION NAME

EXECUTIVE DIRECTOR

E-MAIL

ADDRESS (INCLUDES ZIP CODE)

PHONE #

FAX #

PERCENT OF DISTRIBUTION

ORGANIZATION 2

ORGANIZATION NAME

EXECUTIVE DIRECTOR

E-MAIL

ADDRESS (INCLUDES ZIP CODE)

PHONE #

FAX #

PERCENT OF DISTRIBUTION

ORGANIZATION 3

ORGANIZATION NAME

EXECUTIVE DIRECTOR

E-MAIL

ADDRESS (INCLUDES ZIP CODE)

PHONE #

FAX #

PERCENT OF DISTRIBUTION

Additional organizations can be added by including their information on an attachment.

7.) support the foundation

The Foundation’s operating costs are covered by service charges and the generosity of caring donors. We invite you to become a Power of Giving Partner and consider a contribution to the Foundation’s operations. Your gift will ensure that the Foundation will continue to be responsive to changing community needs.

Please, select one of the options below:
% or $ ___ from my fund balance annually*
a one-time gift of $___**
not interested at this time

*%(?) or $(?) from annual fund balance

**$(?) one-time gift

8.) professional advisor

If you are working with a financial, tax or estate planning advisor, please complete the following:

ADVISOR NAME

FIRM NAME

MAILING ADDRESS

CITY / STATE / ZIP

BUSINESS PHONE

9.) other

Charitable Giving Guide:
The undersigned have received and reviewed the Charitable Giving Guide and agree to the terms thereof. The undersigned hereby certify that all information presented in connection with this application is accurate to the best knowledge of the undersigned and will promptly notify the Foundation in writing of any changes.

Service Charges:
Austin Community Foundation will receive as compensation for its services in investing, administering and distributing the funds hereunder, the service charges customarily applied, applicable at the time of the performance of such services.

Investments:
The undersigned acknowledge and agree that IRS regulations enable Donor Advisor(s) to designate investment preferences when the Fund is established but require the Foundation to retain final discretion regarding those preferences. The undersigned understand that investments will be administered in accordance with the policies of Austin Community Foundation. The undersigned acknowledge that investments are subject to market and interest rate fluctuation risks, and that any gain or loss generated by the above investments will be credited or charged to the Fund. The total investment return of each mutual fund is net of its operating expenses.

Indemnity:
In consideration of the Foundation’s creation of a Fund at the request of the individual(s) or entity named and for good and valuable consideration, such individual or entity hereby agrees to indemnify and hold harmless the Foundation against any liability, cost or expense which the Foundation may incur by reason of its acting upon instructions or recommendations given to the Foundation by any of the authorized persons named.

Variance Power:
It is understood that the Fund to be established pursuant to this agreement will be subject to the provisions of the Articles of Incorporation and Bylaws of the Foundation, including the power reserved by the Board of Governors to modify any condition or restriction on the distribution of funds if in its sole judgment (without the approval of any trustee, custodian, or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the area served by the Foundation.