Cumbria Community Foundation - Guide to Giving

Endowment Funds We invest donations and use the resulting investment returns to award grants. In this way, your donations continue to make an impact forever. With effective investment management, an endowment fund will distribute more money in grants than the value of the original donation. These funds can be built over time and are an excellent option if you would like your charitable giving to provide long-term support for the causes and communities you care about. We have different fund values that determine grant making. The table below illustrates those values and the endowment fund options available to you. Create a Grant Making Fund We manage more than 110 grant making funds on behalf of businesses and individuals, each of which is set up in line with the donors’ wishes, to address a range of issues across the county. Grant making funds are at the heart of the work of the Foundation, providing a home for people and businesses that want to make more significant, normally longer-term commitments to the local community. Becoming a fundholder can be an enriching and rewarding experience. We have two fund models to choose from – Endowment and Flow Through. With both options you can give your fund a name of your choice e.g. a family or business name. You can also build the value through regular or one-off donations. For each type of fund, we will: • Create a fund agreement that captures and tailors your interests, causes and communities you would like to support. • Designate a Grants Officer who will manage your Fund and be the key point of contact with you and applicants. This includes advising applicants, assessing applications as well as ensuring all monitoring and follow up is undertaken. • Provide an annual fund report informing you about the people and projects supported by you during the year. Flow Through Funds This model means all of the money held in the fund is spent within 12 to 18 months on projects you would like to support, making an immediate impact on the project and community. The minimum donation is £15,000 per year and you can advise the Foundation on which projects should receive grants. Normally, flow through funds are topped up by supporters on an annual basis. Fibrus Community Fund Case Study The Fund offers grants to enable people to stay connected, whether it is young people accessing online resources for school, or elderly people video calling family. Organisations who have been supported include Carlisle Sight Advice who have purchased smart speakers to support interactive training sessions for visually impaired people, and Friends of St Cuthbert’s School in Wigton, to purchase iPads for use by digitally excluded children. “We saw a real need in Cumbria to address digital poverty. By enabling those in need to access computers and online services, we can boost the opportunities of youngsters and improve the quality of life for older people.” Dean Jooste, Stakeholder Director at Fibrus Field of Interest and Donor Advised Funds Fund Value Name Description Up to £50,000 Acorn There is no minimum donation or timescale to reach £50,000, meaning you can add to your fund when you can. Investment returns from your Fund are allocated to our Cumbria Fund and its grant making, so that your donations are making a difference from the start. £50,000+ Field of Interest Your Fund can award grants in its own name that align with the agreed grant making criteria (field of interest). Or The Fund continues to contribute to the Cumbria Fund and its grant making (dependent on your wishes). Investment returns from your Fund are used for its own grant making. £150,000+ Donor Advised Your Fund can award grants in its own name and that align with the agreed grant making criteria (field of interest). Working with your designated Grants Officer, you can advise the Foundation on which specific projects you would like to receive grants. Or The Fund continues to contribute to the Cumbria Fund and its own grant making (dependent on your wishes). Investment returns from your Fund are used for its own grant making. "Our fund was first established in 2009 so that people working for Westmorland could access funding for community projects which they were personally involved in. It seemed like a great way for us to support projects which our staff care about. Because Cumbria Community Foundation manages the fund, we benefit from their unrivalled knowledge of community need in Cumbria". Sarah Dunning, Chair, Westmorland Family Call us: 01900 825760 4 5 Email us: enquiries@cumbriafoundation.org

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