In the Designated Fund, you name a particular charity or charities to benefit from the fund. Each year, HCF distributes grants to those charities according to your specifications and HCF’s spending policy. You have the assurance of knowing that, if the organization you selected ceases to exist or the purpose of the grant cannot be met, HCF’s Board will preserve your original intent by redirecting the fund toward the closest similar use.
The designated fund is ideal if:
- Want to create a legacy or support for your favorite causes.
- Want to avoid administrative processes of charitable giving—from keeping receipts for tax records to simply sending a check regularly.
- Want to support specific organizations regularly and in perpetuity.
- Appreciate the efficiency of regular distributions sent by the Hudson Foundation to your designated charities.
- Have a required minimum distribution with your IRA, you can contribute up to $100,000 per per person.
- A Designated Fund can be established in any amount and for as little as $5,000 to get started.
- Your fund can be managed by your financial advisor or with HCF
- Each fund is charged a low 1% administrative fee for services. For funds over $1M the fee is lowered to 0.5%
Contact your financial advisor or our office today. Getting started is easy!