Creating a named fund with County Durham Community Foundation is a great way to give back to your community, without the hassle and expense of setting up and managing your own charitable trust. You can name the fund however you wish; it could be in your own name or family name, your business name, or named after a friend or family member in memory of someone special.
You set the criteria for your fund and, if you wish, you have the final say on all grants made. Our team of experts takes care of all legal responsibilities and administrative processes so there’s minimal administration for you to do, and you’ll receive regular updates on your fund’s grant-making activities.
We offer two main options for named funds: endowment funds which are invested for long-term giving, and revenue funds which can be used for immediate grant-making.
When I sold my business in Derwentside, I decided to give something back to the local community where I had been successful. I decided the community foundation model suited my needs best as they could match up my area of benefit with local good causes.
That was back in 1995 and since then, from an initial donation of £75,934 plus Gift Aid, the I’Anson Endowment Fund has distributed £73,820 to community projects in Derwentside. The fund is now worth £96,671 which means the total return on my initial investment is £94,557 – more than double my original donation.
I chose to leave decision-making to CDCF as they know where support is most needed and am always surprised and delighted when I receive my quarterly statements to see what difference the funding is making to projects close to where my business was located. A very satisfying result for all concerned.”
Mark I’Anson, I’Anson Family Endowment Fund
Long-Term Giving Funds are investments, where a percentage of the total value of the fund is used for various grants throughout the year.
Immediate Grant-Making funds are where the full value is immediately available for grant-making.
Should you need something a little different, we also offer named funds that combine features of each of the above. The fund holder can make grants immediately, while the investment grows.
“As a resident of the North East for over 50 years I wanted to make a difference to the local community. Partnering with County Durham Community Foundation made this process extremely simple. I could give my guidance on how I wanted the foundation to distribute funds based on groups that I feel I owe it to support and their team took care of the rest, regularly updating me on the causes that have benefitted.
“Now I have an established named fund that has been changing lives in the area for two years and know that my funds are making it directly to the right people. I’m honored to make a contribution to an organisation that will be providing benefits perpetually to Durham county.”
Talk to us about how you can set up your named fund.