Creating a Fund
Creating a fund with SCF is generally a very simple process and can be done in several ways.
If you have designated SCF as a beneficiary in your will or life insurance policy, then you may forego meeting with us to establish a fund agreement. However, whenever possible, we still prefer to meet with any donor to ensure we honour your intentions for the gift.
While most gifts by bequest are received without an existing contract in place, it is preferable that the Community Foundation have the opportunity to complete paperwork with the donor while they are still alive. This is important for several reasons:
- Meeting the donor and drawing up an agreement ensures that the Foundation fully understands the donors wishes.
- Specifying the beneficiaries of the Fund in the Deed of Gift allows for the donor to amend the agreement at little or no cost compared to amending the beneficiaries in a will.