The power of an agency endowment fund
Frequently, an organization’s board of directors is at a loss when it comes to growing an endowment, structuring and accepting gifts of real estate and other hard-to-value assets, and following best practices for establishing and following an investment policy. By establishing a fund at a community foundation, the community foundation can step in as your behind-the-scenes back office, giving your board and staff more time to focus on your programs and donors.
An endowment or agency fund is a powerful tool to help secure your organization’s financial future for generations to come. If your organization has already established an endowment or agency fund at the community foundation, you are well aware of the benefits. They include:
- Nonprofit organizations frequently establish funds at a community foundation to set aside reserves or rainy day funds.
- The team at a community foundation is adept at navigating the specific accounting standards that are unique to this type of arrangement.
- The community foundation team can help establish investment policies and gift acceptance policies, making it easier for you to engage in fundraising discussions.
As always, Akron Community Foundation is here to help. Our tools and services make it easier for you to grow your reserve funds and endowments.
For more information on agency endowment funds, contact Brian Reitz, Agency Endowment & Engagement Officer, at email@example.com.