Berkshire Taconic Community Foundation

Designated Funds

A designated fund provides you with an easy way to set up an endowment for specific charity or nonprofit organization. Designated funds can provide much-needed income to schools, houses of worship, schools, art groups and other nonprofit organizations.

With a designated fund, you can support the charities you care about while maintaining the flexibility to change the amount or organizations at any time. If an organization dissolves or drastically alters its mission, you may specify another organization. If the change occurs after your lifetime, Berkshire Taconic may select another organization that most closely aligns with the mission of the organization your fund was originally supporting.

You receive an immediate charitable income tax deduction when you open your fund. Additional gifts also receive tax deducations and may be made whenever you wish.

Minimum to open an endowed designated fund: $25,000

Investments

Our Investment Committee monitors all investment activity. Our administrative staff, led by Jill Gellert, director of finance and administration, provides day-to-day oversight. Any investment growth within the fund provides your fund with additional tax-free charitable capital.

Fees

Each fund pays an administrative fee, which help support our wide range of services and community work.

Administrative fees are charged quarterly based on the average daily balance of the fund (minimum fee is $125 per quarter).

The administrative fees for designated funds are:

Funds with fewer than 10 transactions a year:

1.5% per year if balance is less than $250,000
0.75% per year if balance is more than $250,000

Funds with more than 10 transactions a year:

1.5% per year
There is an additional fee of $10 for every transaction over 10 in a calendar year.

To talk to us about starting a designated fund, contact Jennifer Dowley, president, at jd@berkshiretaconic.org or 413.528.8039.