Designated FundsDonors with strong ties to a particular organization or institution may establish a designated fund for its benefit. Designated funds can provide much-needed income to schools, historic sites, 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 fundís income. Berkshire Taconic will carry out your directions so 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.
InvestmentsOur 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.
FeesEach 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:
0.75% per year if balance is more than $250,000
To talk to us about starting a designated fund, contact Jennifer Dowley, president, at email@example.com or 413.229.0370.