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Setting up a Name Fund is quick, easy and rewarding.
A Named Fund gives you the opportunity to have a Fund in your name or a name of your choice. A Named Fund at the Geyser Community Foundation works like a charitable trust but is simpler and easier. It allows you to support issues, areas and charitable groups of your choosing, but saves you the trouble of appointing trustees, and handling investments and administration.
We like to set the criteria for your Named Fund in consultation with you and you can be actively involved in recommendations for distribution.
We never forget that each Named Fund is different.
Our Board of Trustees ratifies all grants.
Your Named Fund can be set up as an Endowment Fund or a Distribution Fund to ensure your giving meets your needs.
Please contact our Executive Officer Bill Cleghorn to discuss how to set up your Fund.
Named Endowment Funds
Named Endowment Funds can be established:
• By a minimum lump sum gift of $25,000, or
• By growing the fund over a number of years with a minimum annual contribution of $5,000.
Endowment Funds set up at the Geyser Community Foundation are invested within our overall portfolio. A portion of the income generated from the investment of the Named Endowment Fund is available annually to award in grants.
Named Distribution Funds
Named Distribution Funds allow you to distrubute the whole of your charitable gift to selected groups, or for selected purposes over a time frame determined by you.
The administration arrangements for Named Distribution Funds are flexible; please talk to our Executive Officer so that we can ensure your needs are met.
Contributing to Existing Funds
We welcome regular or one-off donations to our Geyser Fund. This is the simplest way to contribute to charitable organisations or projects that will benefit people in the Rotorua District. Funds will be granted to charities identified by the Trustees of the Geyser Community Foundation, using a transparent grant application and distribution process.
Some of the Named Funds set up by other donors may also welcome additional donations.
Ask us if we have a fund in your area of interest.
Fees
We try and keep our costs to a minimum. We charge a fee for the administration of your Fund. This includes all administration, grant assessment and investment management. Our current fees are:
• $2,500 donation to the Geyser Community Foundation for establishment of a Named Endowment Fund.
• A negotiated fee, usually 10%, of Named Distribution Funds for amounts of $10,000 or more per year.
• An annual fee of 1% of the capital held on a Named Endowment Fund.
• The Geyser Community Foundation retains any short-term interest on unspent balances which have been designated for distribution from Named Funds.
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