An agency fund is a named fund created by a nonprofit to benefit its operations or capital needs. Agency funds are component funds of the Foundation and are invested in our pool. The benefits of participation with the Foundation include: access to our disciplined, multi-asset investment program; the opportunity for increased public recognition; and long-term stewardship of your assets.

The Foundation owns the agency fund and agrees to use it for the charitable purposes of the named agency. In accordance with accounting standards the agency may maintain a beneficial interest, which under Financial Accounting Standards Boards Statement #136, would allow the agency to record an asset on its financial statements. We suggest the agency discuss this with their accountants

Your organization may request distributions as needed, or have a regular, annual distribution schedule, or let the fund grow for future use.

Yes, the fund is unrestricted, so distributions of the total fund, including principal, may be made to the agency with approval by both of our boards of directors.

In the event that your agency goes out of business you would work with the Foundation to close the Fund or identify an alternate beneficiary of annual income. Your suggestions on alternate beneficiaries would be sought.

No. By establishing an agency fund you are electing to participate in the Foundation’s investment program under the direction of our investment committee, which is fully responsible for determining asset allocation and hiring investment managers.