In 1960, Mary Coutant was Mary Humeston, a teenage girl attending Camp Mohawk, a camp for girls nestled among 1,500 acres of state forest in the hills of Northwest Connecticut. As a Counselor in Training (CIT), Mary worked to develop leadership, public speaking, teaching and counseling skills. In 1962, she met another fellow camp counselor named Roger Coutant; the two married four years later in 1967.
Among many other donations that support young women, Mary bequeathed seed money to Camp Mohawk for the establishment of a non-restricted fund. The Camp Mohawk Fund supports the camp and enables others to continue Mary’s legacy by including the Camp in their estate planning. Read more
Your Foundation offers many fund types to choose from, and all of these funds can be established as endowed, non-endowed, or pass-through. You can make donations to existing funds or start your own. We can help you maximize your financial support of causes that are important to you and your family. Donors have several choices, each designed to meet individual philanthropic goals. Named or anonymous funds can be established with an irrevocable gift of $5,000 or more, $10,000 or more for scholarships.
Gifts can be in the form of cash, publicly traded securities, closely held stock, insurance, real estate, retirement plans, or other marketable assets. Funds may be established through an immediate or planned gift through a Will, a trust, an annuity, or a business succession plan. You can establish your fund to match the amount of time you’d like the fund to carry on your philanthropic goals, ranging from making use of all of your philanthropic resources immediately, or creating a fund that supports your goals in perpetuity.
Choose a Spending level for your fund--for Flexibility in Spending or for Giving in Perpetuity
Endowed funds protect the long-term value of the fund by balancing principal protection with grant spending. Imagine a savings account that supports your favorite cause or nonprofit forever and ever, in your name. By limiting the spending every year to roughly 5-1/2%, in good times and bad, the principal is preserved, and so is your legacy. An endowed fund can be established with $10,000.
Non-endowed funds allow for more flexibility. These funds are invested in the same pool as endowed funds. Like endowed funds, the principal balance is protected, but they are not limited to a five percent grant spending policy. A non-endowed fund can be established with as little as $10,000.
Pass-through funds are non-endowed funds, but because they offer the most flexibility in spending, they are not invested in the same pool as endowed and other non-endowed funds. These funds are held in a money market account. They have no minimum or maximum balance requirements. A pass-through fund can be established with as little as $5,000.
Choose a Fund Type
Fund types and options are as specific or as broad as the goals of those who establish them. Just as you establish your fund to meet immediate needs or last in perpetuity, you decide your desired level of administrative participation in its day-to-day management. You can decide exactly which charities receive grants from your fund, establish a broader field-of-interest or let us allocate your resources where and when they are needed most in your community.
Foundation staff are here to work with you to customize a fund that meets your goals. Below are a several popular choices:
Through Donor-Advised Funds fundholders make specific recommendations for grant spending. These funds afford fundholders the greatest margin of control, the chief reason for their great popularity. When the establishing donor is no longer available to make spending recommendations, the fund may become a Field of Interest or Discretionary fund.
Designated or Restricted Funds award grants to specific nonprofit organizations. You can support a beloved nonprofit. Choose one or more: your church, an animal rescue society, a homeless shelter, a children’s support group. They will support them forever. And the Community Foundation will ensure the nonprofit always uses your grants appropriately
Field of Interest Funds support charitable efforts in specific areas of interest. You can specify grants be made within a field of interest, such as homelessness, education, or conservation. Field of Interest funds are limited only by your imagination.
Discretionary or Unrestricted Funds are flexible funds that enable the Foundation to apply grant spending where and when it is needed in your community. You can provide for current community needs as well as future needs that may not be currently evident.
Scholarship Funds are established to support educational purposes. You can restrict a scholarship fund to students attending a specific educational institution or pursuing specific courses of study. Foundation staff work with guidance counselors and coaches to locate eligible students, facilitate the application process and award recipients. A scholarship fund can be established with as little as $25,000.
Temporary Funds are established to provide grants toward a specific public purpose, such as a monument, a single program event or a celebration. They are event-specific and temporary pass-through funds.
Nonprofit or Agency Funds are established by nonprofits to support their charitable efforts. Donations are made to these funds through fundraising events, annual appeals and online donations enabling non-profits to concentrate on charitable endeavors, while the Foundation invests their assets.