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5/16/2011
The Greater Fostoria Community Foundation, Inc. has announced the establishment of the William F. Reineke, Sr. Donor Advised Fund as a component fund of the Foundation. Donor advised funds are a means of encouraging endowment support, stimulating interchange of ideas between donors and the Foundation, and providing funds to extend the charitable purposes of the Foundation. A donor advised fund allows designated advisors to make recommendations regarding grants while the Foundation facilitates compliance with financial, legal and tax requirements, as well as helps develop grant-making strategies, articulates funding guidelines and conducts due diligence on prospective clients. Permanent endowed funds at the Greater Fostoria Community Foundation can be established with a $10,000 donation, taking up to three years to reach this minimum. Distributions, in the form of grants, are made from the earnings with the principal remaining intact. |
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