A nonprofit can create an agency fund with the Foundation to support its operations and programs. The nonprofit gains a professionally managed endowment, enabling the nonprofit to focus on serving its constituents. More than 70 charitable organizations in Worcester County have established funds with the Foundation.

Are you ready for endowment?

Does your organization enjoy overall fiscal stability? Can you meet current operating expenses with reserves adequate for emergencies? If so, your organization may be in a position to consider raising money for an endowment. The addition of an endowment to your financial structure suggests that you are preparing for the future.

The commonly accepted meaning of endowment is a fund that is kept in perpetuity to provide income and earnings for a charitable cause or institution. An endowment is a corpus of money that the organization has decided to set aside and not invade.

"Gifts from generous donors have enabled us to create this endowment and build a sustainable future not dependent on year-to-year fundraising. With our Foundation agency fund, we can invest in socially responsible funds and accept such gifts as stocks and bequests. We have an ideal partner in the Foundation, which has supported our work with grants from the start." - Kaska Yawo, Founding Executive Director of African Community Education (ACE)

How Greater Worcester Community Foundation Can Help

Once you’ve decided to create an endowment, questions emerge. How will these funds be managed? What assurances will you give donors about perpetual stewardship? What is your investment strategy?

One solution is to establish an Agency Fund at the Foundation. We offer flexibility to organizations as they build endowments reserves. An Agency Fund lets you:

Annual Report and other publications as an option for donors.

How it works

  1. Agency transfers a gift of $10,000 or more to create an Agency Fund.
  2. Foundation invests the Agency Fund within its investment portfolio, crediting the Fund with its share of income and market appreciation.
  3. Foundation accepts and acknowledges any gifts made to the Fund.
  4. When money is needed, the Agency requests a distribution.