Legacy agreements offer individuals the ability to tailor and detail a fund that
will be established through a bequest or other deposit of funds from a will or
estate. Funds typically established through a legacy agreement include
Unrestricted, Designated, Field of Interest or Scholarship.
Establishing a legacy agreement at the Community Foundation of the
Mahoning Valley ensures that your philanthropic committment will live on
in the hands of a trusted partner. With this type of agreement, you
entrust the Foundation to fufill your legacy, with fidelity to your
philanthropic values.
QUICK FACTS
CONSIDER A LEGACY
AGREEMENT IF YOU:
•
Supports the community and
causes you care about
into perpetutiy
• Minimum balance to establish
•
Combined with careful estate
planning, will help you
accomplish your charitable
goals
Legacy
AGREEMENT
o Want to ensure continued support for causes you
care about
o Desire to carry on a family or personal giving legacy
o
Wish to document your goals and wishes for the use of a
future philanthripic gift
based on selected fund type
BENEFITS AND ADVANTAGES:
HOW TO
GET
STARTED:
o We will ensure your fund continually meets needs
relevant to your interests. Staff will expertly assist in
identifying charitable organizations and programs for
your fund to support.
o
Your fund will be included in the Foundation's full accounting
to the community through its annual report, audit and IRS
Form 990.
o Your fund will be a part of a diversified, actively managed
investment portfolio. Each fund is supported by
professional investment managers and reviewed by an
objective investment consultant. Our Investment
Committee, which consists of board members and other
professionals with experience in the financial field,
develops investment policies for all funds and meets
quarterly to evaluate fund performance and ensure
prudent management of your assets.
MINIMUMS AND FEES:
There is no miniumum needed to establish a legacy agreement. However, the minimum balance to
open and make distributions for the specified fund outlined in your aggrement must be met with
the establising gift from your will or estate.
There is also no fee to establish a legacy agreement. Once the establishing gift is made and the
specified fund is created, it will be assessed administrative and investment management fees based
on the fund type.
Establishing a legacy
agreement at the Community
Foundation is straightforward
and easy.
Our staff will prepare a
customized draft
agreement for you to
review. We encourage you
to consider the agreement
as a part of your estate
planning and review with
your advisors.
Once established, the
Foundation will ensure
your charitable intent is
met when a gift is made
from your will or estate.
201 E Commerce St, Suite 150, Youngstown, OH 44503
330.743.5555 | [email protected]
o
Your name or the name of a loved one can live on
through your fund. If you prefer, you may choose a name that
reflects your fund's charitable purpose.
