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DONOR ADVISED FUNDS
FIELD OF INTEREST FUNDS
DESIGNATED FUNDS
GRANTING FROM YOUR FUND
MANAGEMENT AND INVESTMENT OF YOUR FUND
SCHOLARSHIPS
AWARDING SCHOLARSHIPS
MANAGEMENT AND INVESTMENT OF YOUR FUND
LET US SUPPORT YOUR PHILANTHROPY
ADDING TO YOUR FUND
OPPORTUNITIES TO BUILD PHILANTHROPY IN SW WASHINGTON
ARE YOU INVOLVED WITH A NONPROFIT?
RESOURCES
Glossary
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Awarding Scholarships
Most of our Scholarship Funds are permanently endowed – meaning, they exist in perpetuity. For those funds the Community Foundation’s Board sets the amount available for your scholarships. Currently, you may annually award up to 5 percent of your Scholarship Fund, based on a 3-year rolling average of your fund’s year-end balances.
Fund Established 3 Years or More
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Example
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DATE
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FUND BALANCE |
December 31, 2006
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$80,000 |
December 31, 2007
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$90,000 |
December 31, 2008
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$100,000 |
3 year rolling average of the fund’s year-end balances, 2006, 2007, 2008
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$90,000 |
| Amount available to grant in 2009 based on 5% spending policy ($90,000 x .05) |
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$4,500 |
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For New Scholarship Fund Holders: If you wish to award a scholarship during the first year, arrangements can be made by contacting Anne Digenis, Program Officer. After two years, you may grant 5 percent of your Scholarship Fund’s balance, based on a 2-year rolling average of your fund’s year-end balances.
Expendable Funds: The Community Foundation also offers non-endowed Scholarship Funds. Awards from these funds can exceed the 5 percent spending policy (described above). These arrangements are made when the fund is established.
| You will receive quarterly Charitable Fund Statements detailing your Scholarship Fund’s activity, including investment performance, service and investment fees, and grants made. |
Awarding Scholarships
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