Agency Fund
Establishing an agency fund with Illinois Prairie Community Foundation is a simple and efficient way to create a source of permanent capital for the future of your organization. These funds offer a reliable, ongoing source of financial support. Your organization receives the added benefit of our expertise in facilitating complex gifts from your donors. We handle the investment management of the funds and all administrative details, including gift processing, record keeping, tax reporting and audits.
AGENCY FUND
An agency fund at Illinois Prairie Community Foundation is a powerful first step to securing your organization’s financial future for generations to come.
- Nonprofit organizations frequently establish agency funds at the community foundation to set aside reserves or rainy day funds.
- The team at IPCF is adept at navigating the specific accounting standards that are unique to this type of arrangement.
- The IPCF team can help establish investment policies and gift acceptance policies, making it easier for you to engage in fundraising discussions.
- Donors to your endowed agency fund may be eligible for lower state taxes through the Illinois Gives Act. The Act provides a 25% state tax credit for all donations to new or existing endowed funds. Contact us for more information.
HOW IT WORKS
Illinois Prairie Community Foundation works with your board of directors and leadership team to establish the documentation for your agency fund.
- Select from investment options that meet your organization’s cash flow and capital needs.
- Transfer cash, stock or other assets to your agency fund at the IPCF.
- Your organization and its board of directors approves requests for distributions back to your organization to meet your cash flow and capital needs.
- The community foundation offers 24/7 online access so your organization’s staff can view the fund balance, contributions and grants back to the organization anytime.
- The community foundation team will meet with your board of directors or finance committee each year to review the investments.
HOW DOES IPCF HELP?
The community foundation makes it easy for your organization to set aside and invest reserve funds.
- An agency fund is a cost-effective option for accessing investment options that might not otherwise be available to your organization.
- IPCF is committed to helping your organization exercise outstanding stewardship of the funds donors have entrusted to your board and staff to support your organization’s mission.
- IPCF’s staff is familiar with a wide range of planned giving structures and techniques and can serve as a sounding board for your fundraising efforts.
KEEP GROWING
Working with IPCF gives you the back up and confidence to establish major and complex donor gifts. The team at IPCF strives to make it easy for your organization to establish, maintain and grow your reserves or endowment funds at a reasonable cost. For example, we can help a donor secure a separate fund when the donor wants to give a complex asset and split the proceeds among several charities, including yours. We are happy to help you navigate gifts of real estate, closely-held stock or other hard-to-value assets.
WE ARE HERE FOR YOU!
Whatever your charitable giving goals may be, our team at IPCF can help. We care about our community as much as you do. Deeply familiar with local nonprofits, we serve as a resource to help you give when, how and to the causes you want. Our tools and back-office administration capabilities make it easy to keep your giving organized and tax-savvy.