Funds & Services Offered
Donor Advised Funds
A Donor Advised Fund is a philanthropic vehicle that allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. A donor advised fund allows donors to remain actively involved in distributions from the fund during their lives and, if desired, the life of a successor generation of advisors by making grant recommendations for approval by The Foundation’s board of directors. A donor advised fund can be a creative, economic and more efficient alternative to establishing a private foundation.
A designated fund allows a donor to designate a specific charitable organization or organizations as the recipient or recipients of the distributions from the fund. The Foundation ensures that the designated recipients receive support as long as they remain in existence and continue to fulfill their intended charitable purpose. Designated Funds are often funded with estate gifts.
Agency Funds – Endowed and Non-Endowed
An agency fund is held and managed by The Foundation as the sponsoring organization on behalf of the charitable organization, which is both the donor and the beneficiary of the fund.
- A Permanent Endowment Fund gives organizations the opportunity to create a fund that generates investment income, year after year, which is then paid out pursuant to a spending policy. The permanence of an endowment fund is both appealing and reassuring to donors and nonprofit boards of directors who seek the enduring value of a dedicated source of income to support the organization they love, today and forever.
- A Non-Endowed Agency Fund gives organizations the opportunity to build non-endowed dollars in a professionally managed fund that can generate investment income, year after year, but also a distribution can be requested at any time. A portion of the earned income can be drawn down in set annual payments or reinvested in the fund to grow over time, according to the organization’s needs. It’s a flexible, cost-effective way for nonprofits to build funds for a project or future operational needs.
Planned Giving – Legacy Society Membership
The Legacy Society recognizes individuals and families who have chosen to shape McHenry County’s future by making a gift to The Community Foundation for McHenry County in their estate plans. By doing so and agreeing to be publicly recognized, this inspires others to consider such long-term gifts for the benefit of McHenry County. These can take many forms, including designated bequests for specific fields of interest or unrestricted estate gifts.