Each gift, small and large, is important to the Foundation. When you decide to establish your fund or support one of The Killarney Foundation's existing Funds, you will join with people from all walks of life with one thing in common - the desire to make a difference in your community ..... forever.
Your gift will give year after year because your donation is invested as a permanent endowment fund (community fund) and is managed professionally.
It is simple to set up a fund. There are many ways to do it, often with significant tax benefits to you, the donor. We will work with you and your lawyer, accountant, life insurance agent or financial planner to find the approach that works best.
When you establish a fund with the Foundation, you choose its name and decide how it will work to benefit the community and fulfill your charitable goals. Depending on your wishes, your fund will fall into one of the following categories:
Undesignated Funds [The General Fund]
These funds allow the Board of Directors to decide where earnings can be used most effectively each year.
Field of Interest Fund
You identify an area or cause for support from the earnings of your fund and the Board of Directors selects appropriate organizations and projects, each year, to fulfill your wishes.
Donor Advised Funds
You advise the Foundation each year regarding the charitable organization(s) to benefit from your fund's earnings.
You specify one or more charitable organizations to be the perpetual beneficiaries of the annual income from your fund.
Designated funds may be of particular interest to a charitable organization wanting to set up an endowment fund to ensure its financial stability in the long term. This type of designated fund is referred to as an Agency Endowment Fund.