Setting Up A Named Fund
The most straight-forward way for a donor – whether an individual, corporate or trust – to support the local community through Kent Community Foundation is to establish their own named Fund. This offers the donor all the satisfaction of having their own personal Fund but without the hassle.
To set up a Fund, the donor simply makes a charitable donation to Kent Community Foundation, which is eligible for all the usual tax benefits. KCF sets up a restricted Fund in the name of the donor, or name of their choosing if they wish to be anonymous. The donor, now a KCF Fund-holder, decides the priorities and goals of their Fund, with input from KCF on community need. The KCF outreach and grants team then researches worthwhile projects to match the criteria of the Fund and presents these to the Fund-holder.
We encourage Fund-holders to stay fully involved in how, where and when their Fund is spent, with advice from KCF where needed. KCF manages the entire administrative process e.g. researching and due diligence of projects, making grants, follow-up monitoring and evaluation. This leaves the Fund-holder completely free to enjoy their giving.
There is none of the usual administration associated with registering a charitable trust – no accounts or annual returns, no bureaucratic trustee meetings, no unsolicited appeals. KCF handles all of that.
There are a number of options for those wishing to set up their own Fund:
For philanthropists who want to provide a lasting legacy for their local community and perhaps pass the heritage of giving on to the next generation of their own family, then endowed Funds are extremely powerful. An endowed Fund is invested to produce an annual income which is distributed as grants each year.
If a long term commitment is unsuitable, then a Fund-holder can put their money to work straightaway through a flow-through Fund which is distributed in full over a set period of time. This can be set up as a one-off Fund or as an on-going Fund that is topped up regularly, usually annually.
To find out more about any of these options, please contact our Development Team on firstname.lastname@example.org