Endowments are amazing resources for nonprofits. Using an old adage, an adequately funded endowment can give your organization both roots (for ongoing stability) and wings (for innovation in mission and programming). It can be a remarkable relief, if not excitement, to wake up on the first day of your fiscal year knowing that you have a guaranteed stream of income, regardless of government cuts or that year’s donor gifts.

Virtually every college and hospital in greater Akron has an endowment. Several have endowments right here at Akron Community Foundation. But whether your nonprofit is large or small, an endowment can be a great way to raise money for your agency's future needs. Many nonprofits find that their supporters are more excited to make gifts to an endowment than an annual campaign; they enjoy knowing their gift is making a permanent difference. And, we handle all the gift acknowledgments and fund administration so you can focus on building relationships with your donors and continuing your good work in the community. 

Learn more by contacting Margaret Medzie, vice president of development and donor engagement, or Laura Fink, director of development.

Many charitable individuals are passionate about endowments because it allows them to help an organization forever. If you already have an endowment fund at Akron Community Foundation, your donors can choose to include it in their will. We offer sample bequest language, and our staff is available for personal meetings to discuss other ways your donors can support your organization in perpetuity, including life insurance policies and IRAs. If your donor does decide to leave your endowment fund in their will, please let us know: We want to include them in our Edwin C. Shaw Society so they can enjoy all its benefits.

While many donors are pleased to support your existing endowment fund through their estate plans, others prefer to create a separate stream of support that will carry on their own family legacy. By establishing a designated fund in their name, your donor can direct all future grants to your agency and rest assured knowing they will be supporting your cause forever. Your agency will receive regular grants in the donor's name, and the donor will be recognized in all community foundation publications, both now and after they're gone.  

All community foundation funds are carefully managed, with complete transparency in our finances, investment policies, asset allocations, managers, fees, audits and performance. All fundholders receive regular statements and can also review them online through Donor Central. 

In addition, Akron Community Foundation's investment strategy is specifically designed for long-term growth. Even in the midst of a turbulent economy, our investments have remained steady, allowing our nonprofit fundholders to receive the same level of support they are accustomed to. This is possible because of our prudent spending policy, which uses a 12-quarter rolling average. The foundation's Finance and Investment Committee chooses investment managers with proven track records and continuously monitors their performance. 

In terms of cost, Akron Community Foundation does not charge for any type of meeting or consultation. When establishing a fund, all normal transaction fees, such as stock transfers, are assessed to the gift. The community foundation then assesses the charitable fund – not your organization – a modest annual fee. Fees allow us to provide our fundholders with unparalleled service, including grant-making due diligence, annual audit and tax filing, fund accounting, communications and gift management.

Akron Community Foundation wants to help your agency fulfill its mission. We understand the ins and outs of nonprofits, and our knowledgeable staff can help you grow and promote your fund. In addition, our community investment staff can help connect you with other funding resources in the community and give you ideas about how you can collaborate with similar nonprofits to make your programs even stronger. We also offer you meeting room space, training, help promoting your grants, and other useful resources. We’re here to serve you so you can better serve the people of our community.

Akron Community Foundation offers competitive grant opportunities through our Community Fund and through issue-specific funds. Issue-specific grant opportunities range from women’s and children’s causes to diversity programs to geography-based funding. To learn more, contact a member of our community investment staff. You can also tell us about your program, and we’ll help match you with funding opportunities within and outside the foundation.