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Starting a Fund

6 STEPS TO ESTABLISH A FUND

Creating a fund in your Community Foundation is economical and easy. Donors receive prudent fund management, generous tax advantages, and access to a committed staff with knowledge of the community and the charities in our area. We handle administrative responsibilities, file necessary tax returns, evaluate charities, and monitor changes in the community to help you achieve your charitable vision. A wide variety of endowed funds can be created with a lump-sum gift of as little as $5,000.  Here are the basic steps for creating a fund.

1.  Define your charitable and financial objectives.  Consider how you want your gift to be used and how much you and other family members would like to be involved in making grant recommendations. You may have a favorite charity you want to support, or be passionate about youth and education programs, or want to provide scholarships to area students. 

2.  Select the type of fund that matches your charitable interests.

Unrestricted Fund • Agency Fund • Designated Fund • Donor-Advised Fund • Field of Interest Fund • Scholarship Fund 

3.  Determine which asset you will use in creating your fund.  Gifts of cash, securities (publicly traded or closely held), personal property, or real estate can be accepted by the Community Foundation to set up a fund. Assets with a low-cost basis are often wise choices, since they offer maximum tax advantages: You pay no capital gains tax and receive a favorable income tax deduction. You may also wish to review assets inside your retirement plan for possible charitable use. At all times, we work closely with your accountant and attorney to ensure your charitable wishes are clearly understood and applied.

4.  Choose a name for your fund.  Many donors choose a family name, but you can use any name that is meaningful to you.

5.  Make your gift to the Community Foundation.  While your gift to establish a fund will be commingled with other Community Foundation assets to maximize investment returns, income and appreciation are tracked and tied to your fund, benefitting your fund for its growth and charitable grantmaking. 

6.  Plan a gift through your Will.  We can help provide appropriate language to make sure a contribution to the Community Foundation from your estate meets legal and tax criteria.

From here on, your charitable vision is nearly worry-free.  The Community Foundation takes care of government filings, grant paperwork, auditing and accounting.  Most importantly, you will have joined with hundreds of other local donors who have created a personal legacy that is true philanthropy.

To get started, contact the Eastern West Virginia Community Foundation at (304) 264-0353 or via email at info@EWVCF.org or Hampshire County Community Foundation at (304) 822-7200 or via email at info@HampshireCCF.org, or Hardy County Community Foundation at (304) 538-3431 or via email at info@HardyCCF.org

Recent Posts

  • Partners in Philanthropy Spur Community Foundation Growth
  • Hardy County Community Foundation Announces over $23,000 in Grants
  • COMMUNITY FOUNDATION’S PREISSLER FUND TO AWARD $150,000 TO ARTS, NATURE PROGRAMS AGAIN IN 2023
  • 2023 Detlev and Mary Ellen Preissler Fund for the Arts, Music, Design, and Nature – Request for Proposal
  • Honoring Tia McMillan

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EWVCF Downloads

Policies

Privacy Policy

Financial Reports

2021 Financial Statements

2021 IRS Form 990

2020 Financial Statements

2020 IRS Form 990

2019 Financial Statements

2019 Form 990

2018 Financial Statements

2018 Form 990

2017 Financial Statements

2017 Form 990

2016 Financial Statements

2016 Form 990

2015 Financial Statements

2015 Form 990

Reports to the Community

26th Annual Report to the Community

25th Annual Report to the Community

24th Annual Report to the Community

23rd Annual Report to the Community

22nd Annual Report to the Community

21st Annual Report to the Community

2014 Report to the Community

The Community Foundation has many governing documents, including a Conflict of Interest Policy. These are available upon request.

The Community Foundation is not currently required to file a Form 990-T. However, if at some future date we are required to file one we will post it on our web site.

Contact EWVCF

Eastern West Virginia Community Foundation
229 East Martin St., Suite 4
Martinsburg, WV 25401
www.EWVCF.org
info@EWVCF.org
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304.264.0353
Fax: 888.507.8375

Contact Hampshire CCF

Hampshire County Community Foundation
Post Office Box 40
Romney, WV 26757
www.hampshireccf.org
info@hampshireccf.org
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304.822.7200
Fax: 888.507.8375

Contact Hardy CCF

Hardy County Community Foundation
Post Office Box 1058
Moorefield, WV 26836
www.hardycountycf.org
info@hardycountycf.org
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304.538.3431
Fax: 888.507.8375

Vision

Our Vision is to build vibrant communities that provide opportunities for everyone living in the Eastern Panhandle of West Virginia.

Mission

Our Mission is to inspire philanthropy, serve donors, strengthen communities, and improve the quality of life in Eastern West Virginia now and for future generations.

Values

We Value diversity, provide exceptional stewardship, and fully embrace accountability, integrity, professionalism, and transparency in everything we do.

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