Designated Funds
Donors with strong ties to a particular organization or institution often establish a designated fund for its benefit.
Designated funds can provide much-needed income to schools, historic sites, houses of worship, arts groups, high school seniors, town activities, animal shelters and many other kinds of organizations and causes.Donors receive an income tax deduction for their opening contribution and any subsequent donations. Most donors endow their designated fund in perpetuity.
At the time you make your gift, you may specify one or more nonprofit organizations or scholarships to receive all or a portion of the fund’s income. Berkshire Taconic will carry out your directions as long as the named organization is using the income to carry out its stated charitable purpose.
If the designated organization ceases to exist, loses its tax-exempt status or changes its mission, Berkshire Taconic can redirect support for a purpose as close as possible to what the donor intended, ensuring that their charitable vision continues to be supported.
Minimum balance to open an endowed designated fund: $25,000
View a list of our designated funds.