Establish a Fund

You can create a named fund with Greater Worcester Community Foundation.

The Types of Funds We Offer

Establish your fund in your name or in the name of your family—or let its title honor a cherished person or recognize a valued group or cause. Each grant from your fund will carry its name in perpetuity.

Types of funds available to you through the Foundation

Discretionary Fund

By creating a discretionary fund, you support the Foundation to meet immediate and emerging needs in our region. We support programs addressing all aspects of community life, including arts and culture, the environment, health, neighborhood revitalization and education.

The flexibility of the discretionary fund gives the Foundation freedom to address changing conditions in our community as well as urgent priorities such as children and families in want, unsafe neighborhoods, arts programs in jeopardy, and after-school tutoring and health clinics in need of expansion.

A Discretionary Fund can be started with a gift of $10,000 or more.

Want to share this information? - Download the Discretionary/Field of Interest Flyer.

Field of Interest Fund

You identify one or more areas of interest and leave grant selection to the Foundation. We apply your grants to programs that focus on the cause(s) you specify such as youth development, homelessness, the environment, hunger, music, art, or a particular town or neighborhood.

A Field of Interest Fund can be started with a gift of $10,000 or more.

Designated Fund

You can endow your giving to any organization(s) that you name. Specify one or more 501(c)(3) nonprofit organizations as the recipients of annual grants from your fund and the Foundation makes the grants in the name of your fund in perpetuity. Should the designated organization cease to exist as a nonprofit charitable entity, the Foundation is authorized to select an alternate beneficiary whose service to the community is consistent with the original intentions of your fund.

A Designated Fund can be started with a gift of $10,000 or more.

Donor Advised Fund

You take an active, ongoing role in making grant recommendations [DOC] with a donor advised fund. We can help you identify potential grantees that fulfill your charitable goals. You may also appoint successor advisors for one generation beyond yourself, and involve your children or other family members in continuing your philanthropy. You determine the ultimate purpose once the advising period ends. The Fund may become discretionary, field of interest or designated. 

A Donor Advised Fund can be started with a gift of $10,000 or more.

DonorCentral provides holders of donor advised funds with secure online access to fund information, including fund balance, gift and grant history and pending grants. This service also provides donors with tools to recommend grants, name successor advisors and specify instructions for future use of the fund.

For additional information visit the Frequently Asked Questions page.

Want to share this information? - download the Donor Advised Fund Flyer.

Scholarship Fund

Among our most popular funds, scholarships help our community’s high school graduates further their education. You decide the purpose of your scholarship fund and the criteria for selecting students. View our listing of scholarship funds to see what other's have created.

The Foundation handles the scholarship process from start to finish. We conduct outreach to recruit eligible candidates, accept and screen applications, and select recipients. We then verify enrollment, distribute checks and monitor student progress.

A Scholarship Fund can be started with a gift of $30,000 or more.

Agency Fund

A nonprofit organization can create an agency fund with the Foundation to support its operations and programs. The nonprofit gains a professionally managed endowment. The Foundation provides these services in perpetuity, enabling the organization to focus on serving its constituents.

An Agency Fund can be started with a gift of $10,000 or more.

Agency Fund Agreement

Kelly Stimson - Photo

Learn more about starting a fund at the Greater Worcester Community Foundation

Contact Kelly Stimson
Vice President of Donor Services and Relations
Send email

Foundation Fees

We are the stewards of more than 600 funds as well as the civic endowment created by all of our donors’ funds and gifts. Each fund is subject to monthly investment and administrative fees as well as an annual fee. We keep fees and costs for fund administration and investment low through economies of scale.

Investment fee

The Foundation’s investment managers charge fees for their investment services provided in the management of the Foundation's assets. Investment performance results are reported net of investment management fees. The investment management fee is projected at 1.00% per year and may vary based on changes in investment managers.

Administrative fee

Administrative fees are charged by the Foundation to help cover the cost of operations. The fee varies depending on the type and size of the fund. Administrative fees are charged monthly and withdrawn from the fund’s assets.

Following is our current administrative fee schedule:

  • Discretionary, designated, field of interest and donor advised funds - 1.25% *
  • Scholarship funds - 1.95% *
  • Agency funds - 0.75%

* The fee is 1.00% for funds with assets above $5 million.

A minimum fee of $250 per year is drawn on all funds.

Fee information effective April 1, 2020

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