Why start a fund?

Foundations and scholarship funds sound great, but might seem to be only for the very wealthy to create.  Not so.  Following the same logic of investing for retirement, investing for charity can make a small or incremental investment go much further than it might if spent immediately. 

Donations to this fund will become part of the fund's endowment. When the endowment reaches a base level of about $50,000, part of the earned interest will be used to provide scholarships to needy students and families.  The remaining interest (and continuing donations) will be reinvested allowing the fund endowment to grow.  In other words, with a donation of $50, every year part of the interest on that $50 will be put toward scholarships, another small part will pay for administrative fees (to CACF), and the rest will add to the size of the endowment. 

Great wealth is not necessary to make the power of compounding interest work for charitable purposes - only patience.  A single investment will continue to pay out for the life of the fund. 

This fund is a member of the Charlottesville Area Community Foundation.

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