What are they and why are they important to nonprofit organizations?
If you serve on the board of a nonprofit organization, or are privileged to lead one, did you know that Waccamaw Community Foundation (WCF) is poised to assist nonprofit organizations in enhancing their financial sustainability?
Let us be your Endowment Partners
Savvy nonprofit agencies often establish organizational endowments, also known as agency endowment funds, with their local community foundation. Organizational endowments can be cultivated and grown to serve as a permanent source of annual income for an agency’s operations and programs. The advantages of creating and maintaining an organizational endowment with WCF are particularly compelling during periods of economic uncertainty. Every dollar earned from endowment investment is one less that organizations must raise.
When you’re ready to launch or grow your organizational endowment, Waccamaw Community Foundation is your endowment partner. We help you stay focused on your mission and programs, while leaving the complex estate gift acceptance, investment management reporting and technical details to us.
How Waccamaw Community Foundation can help:
- Waccamaw Community Foundation offers an investment program that small and midsized nonprofits cannot afford to duplicate without at least several million dollars in assets.
- Designing an investment policy, selecting an Investment Committee and performing an extensive, thoughtful investment advisor search can be a major distraction for any agency. Many get sidetracked with these duties and spend little time actually promoting and soliciting endowment gifts. We already have these pieces in place.
- We provide hands-on assistance with planned giving. We can confidently handle gifts involving complex assets, gift annuities, and trust arrangements, providing examples and guiding you through the process where needed.
- We have access to experienced accountants and asset managers and have state-of-the-art fund management software designed specifically for the accounting needs of a community foundation. You will receive quarterly fund statements showing investment performance, new gifts, distributions and the amount available for distribution.
- Your agency benefits from the exposure to our family of donors and fund advisors. We share your story with the local philanthropic community and encourage them to support your agency’s vision.
Five Simple Reasons to Establish an Organizational Endowment with WCF:
1) It’s Easy
Establish your fund by completing our organizational endowment fund agreement. We’ll guide you through the process and help you accomplish your objectives. We relieve nonprofits of the burden of investment decisions, tax complications and ongoing administrative details.
2) It’s Flexible
We customize our services to meet your agency’s objectives.
3) It’s Effective
We are dedicated to ensuring that your Agency (Organization) Fund is as effective as possible. Your fund will share the expertise of a knowledgeable staff, enjoy excellent financial management and benefit from a closely monitored investment strategy. Satisfaction comes from knowing that your contributions are safe and well managed.
4) It’s Permanent
An important part of our work is building permanent organizational endowments for our community’s nonprofit organizations. Our Board of Trustees ensures funds will grow in perpetuity and will continue to carry out the charitable objectives of the agencies who established them.
5) It’s Attractive to Donors
An endowment is a sign that your organization will be around for a long time, which offers a further incentive for prospective donors.
Here’s a list of organizations in Horry and Georgetown Counties that have placed their faith and trust in Waccamaw Community Foundation by establishing an organizational endowment and seek to grow their endowments with annual and legacy gifts to ensure their financial sustainability:
- Carolina Master Chorale
- Community Kitchen of Myrtle Beach
- First United Methodist of Myrtle Beach
- Garden City Chapel
- Horry County Historical Society Fund
- Lowcountry Preparatory School
- Sea Haven, Inc.
- St. Francis Humane Society
- Surfside United Methodist Church
- Teach My People
- Theatre of the Republic
- YMCA of Coastal Carolina
Contact Karen Minogue at 843-357-4483 to learn how Waccamaw Community Foundation can help your favorite nonprofit organization grow a permanent source of funding to secure its future.
In our monthly column from Karen Minogue, Waccamaw Wisdom, we’ll unpack the latest in philanthropy and offer tips to make your giving more effective. Topic suggestions welcome at firstname.lastname@example.org.