Giving Frequently Asked Questions
There are many other factors that may be considered, both subjective and objective. However, there is enormous need to be satisfied. There are many ways to meet that need. The most important question to be answered first is:
"What can I give back to my Community?"
What is the minimum gift needed to establish an advised fund?
Most of our five endowment funds can be established easily with a minimum contribution of $10,000. 
What are the five charitable fund options available to me?
Please click on Types of Funds
Do I have to make grants to Essex County based organizations only?
No. Through an advised fund, you can make grant recommendations to any 501(c)(3) public charity in the United States.
Who can recommend grants from an advised fund?
Anyone listed as advisor in the specific donor advised fund agreement can recommend grants from the fund. Additional advisors may be added later by the donor to the fund.
Can my children become advisors to the advised fund upon my death?
Yes. A donor can name any successor advisors to an advised fund at any point in time. If no successor advisors are named, the remaining balance of the fund is added to the ECCF's discretionary fund upon the death of the sole remaining advisor.
Can grants from my advised fund be made anonymously?
Yes.
What freedom do I have in naming my fund?
You can call the fund anything you want, as long it is uniquely identified within ECCF's assets under management.
How will an advised fund be invested?
ECCF has a number of Investment funds, which are managed in Boston by Bank of America and, locally, by Beverly National Bank. Link to Investment & Financial Information. Contact ECCF if you would like to receive a copy of our investment objectives and guidelines.
What are the differences between an advised fund at the Foundation and one at a commercially sponsored gift fund?
Although these products are similar in function, the Essex County Community Foundation offers several advantages over commercially sponsored gift funds.
- ECCF has detailed, successful working knowledge with the nonprofit organizations in Essex County.
- ECCF has access to the experience of 700 community foundations in meeting the needs of their communities. This means that the ECCF has been able to access an enormous mount of information in order to be able to build the programs and services now available to people wishing to make charitable gifts in Essex County.
- Philanthropy is ECCF's only business consequently, its sole focus is on making a difference in our community and with donors.
- An investment in ECCF is an investment in the communities that ECCF supports. As ECCF grows so do the services that ECCF provides. As assets grow, through the establishment of new donor funds, so does that growth attract more donors.
Link to Foundation Options Comparison
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