How to start a new fund

Opening a new donor-designed fund at the Community Foundation of Grundy County is easy.  Please follow this link to download our New Fund Questions Form to help you get started.

Questions to ponder as you design your fund:

  • What type of fund will it be?
    • donor advised
    • designated
    • field of interest
    • scholarship
    • agency endowment
    • (learn about the different types of funds here)
  • Do you want to be able to grant it all out (pass-through)?  Or do you want the principle to remain intact forever to annually support your favorite charities now and after your lifetime (endowed)?
  • What do you want to name the fund?  Do you want it to be anonymous or do you want it to have a family name to leave a lasting legacy in the community?
  • What is the purpose of the fund?
  • What will you deposit as the initial gift — cash, securities, or real estate?
  • How much will the deposit be?
  • The name(s) of the donor(s)
  • Who gets to make decisions about the fund during your lifetime?
  • Who gets to make decisions about the fund after your lifetime?  Children?  Grandchildren?  Committee?

Once we have received the form with your answers, we will prepare a New Fund Establishing Document for your review.  Once it is signed and the deposit is made, the fund is created!

You can fax your completed form to 815-941-9110 or scan and e-mail it to [email protected].