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Thinking of Starting a Fund?

Donors are at the heart of everything we do. We pride ourselves on making meaningful connections that lead to positive change for our region. Whether you are just getting started or are looking to focus your philanthropy, we can help you learn about and support the causes and organizations you care about — now and for years to come.

Tax or estate planning? Just sold your business or exercised stock options? Are you looking to celebrate or memorialize a loved one? Whatever your motivation, when you're ready to give, GCF is here to help.

Why partner with us?

Gloucester Community Foundation is built upon the generosity of people who share a love of place and who want their philanthropy to have a meaningful and lasting impact. Of the many individuals and families who have partnered with us, here are some of the top reasons they trust us to carry out their philanthropic vision.

  • We connect donors with causes they care about.
  • We offer many ways to give.
  • We can achieve more together than we can alone.
  • We share our community knowledge and insight and provide leadership on local issues.

Types of Funds

Setting up a fund at GCF is easy and effective and often can be accomplished in one short meeting. We offer many different types of funds, each customized to help you make the most of your giving.

Unrestricted Fund - Addressing Changing Community Needs

Unrestricted gifts to a Community Endowment address a broad range of community needs - even those that cannot be anticipated at the time of the gift. These funds allow the Foundation to make grants in your name to effective organizations that are advancing change in areas of regional priority.

Ideal for: Individuals, organizations or businesses motivated by an opportunity to combine resources with MCF to support innovative, sustainable solutions that address the community's most pressing needs.

Minimum initial gift: $10,000 for a named fund. However, a gift of any size can be added to an existing Community Endowment to further enhance the Foundation's community grants program.

Field of Interest Fund - Support Your Favorite Cause

Field of interest funds focus your giving on a particular area of interest like education or health care or a specific geographic area. Through our competitive grants program, we will identify organizations that are having the greatest impact in the area of importance to you.

Ideal for: Individuals, families or businesses who are passionate about a cause, but trust the Foundation to know the most effective organizations doing good work in that area

Minimum initial gift: $10,000

Donor Advised Fund - Organize Your Giving

Donor advised funds offer a flexible, convenient and cost-effective way to organize your giving. Your gift qualifies you for an immediate tax deduction, but you can recommend organizations you wish to support at your convenience. You determine the amount and timing of your grants and we take care of the paperwork. Our knowledgeable staff is also available to help you set goals for your fund and develop giving strategies that can create the greatest possible impact with your charitable dollars.

With assets of $5 million or more, you may opt to establish a supporting organization. This option provides opportunities to participate in governance, investment management or a focused grantmaking program.

Ideal for:

  • Donors who wish to remain active in their giving, without the paperwork.
  • Donors who want the flexibility of recommending the organizations they wish to support or partnering with GCF and other donors to support high-impact initiatives.
  • Individuals who wish to involve future generations of their family.
  • Private foundations seeking to fulfill their minimum 5% payout or those seeking a simple alternative.
Minimum initial gift: $10,000

Agency Endowment - Create Sustainable Resources

Agency endowments are a simple and efficient way for nonprofit organizations to build an endowment and ensure long-term sustainability for their organization. Organizations can request disbursements as needed and not required to take them every year.

By working with GCF, we can help you develop planned giving strategies and take care of fund accounting. You also become part of our investment pool managed by Spider Management Company, which is recognized among the top decile of large university endowments.

Ideal for: Nonprofit organizations that wish to build their reserve funds and create a reliable stream of income

Minimum initial gift: $25,000

Designated Fund - Support Specific Organizations

You may wish to establish a designated fund to specify one or more charitable organizations to receive grants from the fund. Your gift will help provide a steady source of income for the organization, though the amount is dependent on the size of the fund and its growth over time. Should the organization terminate or its purpose change, the Foundation will ensure that your fund is redirected to meet its original purpose.

Ideal for:

  • Individuals or families who have been touched by a particular organization.
  • Donors who know which organizations they want to support but do not want to be actively involved in grantmaking.

Minimum initial gift: $10,000

 

Scholarship Fund - Support Student Education

By establishing a scholarship fund at GCF, you can help local students pursue their dreams of higher education. We will work with you to determine criteria that is meaningful for you. Scholarships funds can be tailored to a certain geographic area or school, specific fields of study or students of a particular heritage. They can also be merit or need based.

Our staff will oversee the entire process from distributing the applications to dispersing the funds. Recipients are based on the recommendation of our volunteer review committees.

Ideal for: Donors who wish to memorialize a loved one or give back to their own community or alma mater.

Minimum initial gift: $50,000

What to Give

We accept a wide variety of assets, cash, marketable securities, real estate and closely held businesses, among them. And you can put your philanthropic plans into action today with outright gifts or opt to give a future, planned gift.

Learn about types of assets we accept

Alternatives to a Private Foundation

Private foundations come with the responsibilities of structuring the foundation, formulating policies, overseeing investment of the assets, administration and monitoring grantee activities. We have two attractive alternatives. The board of a private foundation can transfer its assets to GCF for the purpose of establishing a donor-advised fund or a supporting organization. The fund will perpetuate the private foundation's name and philanthropic goals with no tax or penalty on the transfer.

Download Options for Private Foundations [PDF]