Financial Management
ECCF provides a highly effective and responsive alternative to the investment and financial administration of philanthropic assets by and for both donors and nonprofits.
For donors, ECCF, itself a registered charity, manages charitable funds, grant making and regulatory compliance, as well as selection and oversight of the managers of its investment portfolios, confidentially and at low cost. ECCF helps new funds and organizations get established, provides gift accounting and acknowledgement services, and maintains the purpose and principal of the funds in perpetuity.
For nonprofits and communities establishing their own endowment funds at ECCF, the foundation manages endowments and reserves, protects assets from unintended use in perpetuity, and diversifies investments to ensure long term asset protection. In addition, ECCF handles and acknowledges gifts to those funds quickly and directly.
Establishing a charitable fund at a community foundation is an efficient way to get the productivity and expertise offered to very large investment portfolios at low nonprofit rates.
Management Services
Here are just three examples of ECCF’s many management services for donors and nonprofits:
For a Education Fund supporting a local school district, ECCF processes all gifts and manages the gift acknowledgement processes for the fund. It provides immediate reports and feedback to the Education Fund organizers on all donors and their gifts to the Fund at ECCF. The Fund may be accessed as needed.
For a new Memorial Scholarship Fund, the family sends ECCF the checks it receives from family and friends. ECCF manages all the required gift processing and tax-deductible gift acknowledgements. The family receives regular reports as the fund grows. When it’s time to make awards, a selection committee, established by the family and ECCF, chooses the recipients. The family announces the winning recipients and ECCF sends the scholarship grants to the recipient’s schools to be applied to their tuition.
For publicly supported organizations which have set up funds at ECCF, such as a high school alumni association or a fund to support a city’s emergency relief activities, the funds have been established with clearly defined intent and grant designation. ECCF ensures that the funds can only be used as intended and designated, in perpetuity, regardless of any future changes to those organizations’ management and/or political oversight.
To discuss how we might support your own, unique charitable activities, please contact Julie Bishop, VP for Grants and Services, at 978-777-8876 0r email her at j.bishop@eccf.org
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