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The Seed Fund
Program can be used to establish any type of endowment fund:
Donor Advised Funds, Scholarships Funds, Designated Funds,
Agency Funds, Field of Interest Funds and Unrestricted
Funds.
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Donors make an
initial contribution of at least $1,000 to establish the
Seed Fund and then use the next three years to build the
fund to the required minimum endowment level. Minimum
endowment levels vary according to fund type.
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A funding plan
must be submitted at the time the Seed Fund is established
that includes a detailed, reasonable approach to raising the
required fund minimum by a specific date that is no more
than three years from the date the fund is established.
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Once the seed
fund reaches the minimum endowment level, the fund matures
into an active charitable endowment fund.
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Distributions
can be made to the causes and charities of the donor’s
choice once the fund has reached the minimum endowment
level. Our current annual spending policy is 4.5% of the
average of the ending market values for the previous 12
quarters.
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Gifts are tax
deductible to the extent allowed by law. Consult your tax
advisor.
Seed Funds allow you to start a fund and gradually build upon it to create a mature fully-endowed fund. Your Seed Fund will grow into an endowment that will let you support the charities or causes you choose and will forever have an impact on the quality of life in your community.
