Service Area

Service Area


Barbour, Grant, Pocahontas, Mineral, Preston, Randolph, and Tucker County, West Virginia
Garrett County, Maryland

AN ENDOWMENT IS CREATED when a donor transfers money or property to the Foundation in accordance with minimum fund requirements with the stipulation that it be invested and the principal remain intact. Income generated by the investment is used to support the donors intended cause through grant and scholarship awards or other programs supported by the Foundation.

1. DEFINE your charitable and financial objectives. Consider how you want your gift to be used, whether you want future family members involved, and how much involvement you want in making grant recommendations. Decide what geographic area you want your fund to serve(see map at left).

2. SELECT the type of fund that matches your charitable interests from the list below.

3. DETERMINE which asset you will use in creating your fund. A variety of assets can be accepted by the Foundation to set up a fund.

4. CHOOSE A NAME FOR YOUR FUND Many donors choose a family name, but you may also choose a name that is meaningful to you. Provide background information that may be of interest to grant or scholarship recipients.

5. CONTACT the Foundation office and arrange to meet with staff at a time and place convenient with your schedule. Call 304.259.5008 or e-mail ddirector@tuckerfoundation.net. Staff will assist you with completing the Fund Agreement.

6. TRANSFER ASSETS to the Foundation in accordance with Minimum Fund Requirements. Upon approval by the Board of Directors the fund is announced and may receive subsequent donation/s.

MINIMUM FUND REQUIREMENTS

Unrestricted
$1,000 to initiate
$5,000 to establish
Field of Interest
$2,000 to initiate
$10,000 to establish
Designated
$2,000 to initiate
$10,000 to establish
Scholarship
$4,000 to initiate
$20,000 to establish
Agency Endowed
$2,000 to initiate
$10,000 to establish
Donor Advised
$4,000 to initiate
$20,000 to establish

Initiated funds have 5 years to meet the minimum fund requirement at which point grant or scholarship awards can be distributed.

The RUN FOR IT program can generate funds to initiate a new fund or build on an existing endowment.

TYPES OF ENDOWED FUNDS

UNRESTRICTED FUND offers the broadest giving option. Unrestricted funds may be used for grant or scholarship awards. Allows maximum flexibility for use where needed most.

FIELD OF INTEREST FUND This type of fund allows you to target an area of need in a particular field (health, youth, senior citizens, education, environment, arts and cultural programs, animal welfare, historic preservation, etc.). You can also identify the geographic area you want your fund to serve.

DONOR ADVISED FUND allows you to enjoy ongoing involvement in the distribution of your gifts from your fund. You bring specific grant recommendations to the Foundation for consideration.

DESIGNATED FUND names a specific organization to benefit from your gift. Should the designated organization cease to exist, the Foundation has the authority and responsibility to reallocate grants to another agency that most closely reflects your original vision.

AGENCY ENDOWED FUND Non-profits often wish to create long term endowments that will benefit their mission and purpose. The Foundation provides an excellent vehicle to ensure the endowment is carefully invested and managed.

SCHOLARSHIP FUND You may choose to dedicate a fund to help students study and advance their education. The Foundation Scholarship Committee works with area school officials and community volunteers to interview students and make award recommendations.

CEMETERY PRESERVATION FUND These funds are to be used for the maintenance, historical preservation, and beautification of cemeteries that are governed by a board of trustees.

In compliance with IRS regulations, the following
VARIANCE POWER

applies to assets managed by
Tucker Community Foundation:

If, in the judgment of the TCF Board of Directors, the restrictions and conditions of any fund become unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community, the TCF Board of Directors maintains the right to modify the terms of this fund. TCF has exclusive legal control over any contributed assets.