Guide to Giving - Berkshire Taconic Community Foundation

Types of FundsDESIGNATEDFUNDSNONPROFITENDOWED FUNDSYOU CAN ENSUREyour favorite nonprofit’slong-term financial stabilityYOU CAN BUILDyour nonprofit’s endowmentand ensure lasting supportfor its missionFUND SPOTLIGHTFUND SPOTLIGHTRUTH AND NICK BORASKI are thedefinition of good citizens. They settled inPittsfield, MA, 35 years ago, raised three children andwere active in the community. One organization closeto Ruth’s heart was Girls, Inc., which has served thegirls of Berkshire County for 100 years. TheBoraskis established an endowment to provide collegescholarships for promising, underprivileged girls.In 2011, Girls Inc. launched a campaign to raise onemillion dollars for a permanent endowment. Ruth andNick asked BerkshireTaconic CommunityFoundation toestablish a designatedcharitable fund withGirls Inc. as the solebeneficiary.“I’m not immortal,” says Nick. “I selected BerkshireTaconic because I knew they would handle ourmoney intelligently and it would support Girls Inc.long after we’re gone.” Sadly, Ruth Boraski died justas the fund was established. But to her husband of54 years, “this is Ruthie’s fund,” one that will supportBerkshire County’s girls for generations to come.Donors with strong ties to a particular organization oftenestablish a designated fund for its benefit. Your gift becomes anendowed fund of BTCF, which will support the charities ofyour choice as long as they exist.Designated funds can provide much-needed income to schools, historic sites,houses of worship, arts groups, town activities, animal shelters and many otherkinds of organizations and causes.If the designated organization ceases to exist, loses its tax-exempt status orchanges its mission, BTCF can redirect support for a purpose as close aspossible to your original intentions.A designated fund is an excellent way for you to make a significant gift to anonprofit without burdening that organization with the management of anendowment. It also ensures you that the designated fund remains intact as anendowment and is never spent out.Minimum to open an endowed designated fund: $25,000Berkshire Taconic has a world class investment portfolio withtop-quartile returns among foundations nationwide. In orderto make this resource accessible to our region’s nonprofits,the Foundation invites organizations to open a NonprofitEndowed Fund.This is a simple and efficient way to build an endowment – and help createsustainability – for your nonprofit organization. A permanent endowmentfund affords organizations the opportunity to generate investment income,year after year. The stability of an endowment fund is appealing to yourdonors who seek the enduring value of a dedicated source of income tosupport the organization they love, today and forever.BTCF handles investment management and the administrative responsibilitiesrelated to the endowment, so that your organization’s staff and volunteerhours are concentrated on fulfilling your mission.Berkshire Taconic has managed endowments for nonprofits, individuals andfamilies since 1987. BTCF’s Investment Committee is comprised of leadingexperts in investment management who provide oversight and guidance to allour funds. With more than $100 million in assets, nonprofit endowmentsbenefit from substantial economies of scale and diversification of invested assets.Minimum to open a nonprofit endowed fund: $25,000THANKS TO THE FORESIGHT ANDgenerosity of local landowners and partnershipswith the community and government agencies, theDutchess Land Conservancy (DLC) based inMillbrook, NY, has protected more than 35,000acres of critical farmland, wildlife habitats,wetlands, forest lands and scenic views for futuregenerations.Farmer Elton BaileyThe DLC has chosen to partner with BTCF to growits nonprofit endowment fund because, says BeckyThornton, President, "Berkshire Taconic is a terrificresource to us as nonprofits. The Foundation’sexpertise in so many areas makes us feel proud tobe their partner. Putting our endowment at BTCFmakes us feel that our organization will be asfinancially sustainable long into the future as theland we work so hard to protect.”20 berkshiretaconic.orgberkshiretaconic.org 21