There are many people who give generously to many organizations throughout their lifetime. They faithfully support one or more nonprofits representing causes they believe in, or they establish a fund with the Community Foundation that will provide grant distributions to these nonprofits each year. Often, people we meet with are concerned about what happens to these gifts after their lifetime. How can the organizations they’ve loved and supported still benefit once they are no longer here to write a check?
Meet Elmira B. Cook. Mrs. Cook was a long-time annual supporter of Frederick Rescue Mission, a nonprofit which serves the homeless and working poor in Frederick County and helps those with substance use disorder. As she advanced in age, she was concerned about the Frederick Rescue Mission missing out on her annual support after her death. Mrs. Cook met with the Community Foundation and learned there was a way to continue to help, in perpetuity. In 2000, she created The Elmira B. Cook Endowment Fund for the Frederick Rescue Mission. The first grant from the fund was given in 2001, and every year this grant to Frederick Rescue Mission carries out Mrs. Cook’s charitable goal of supporting this worthy organization.
We work with many donors who have the same concern as Elmira and decide to create funds that reflect their unique charitable goals. Another example is The Vince and Guelda Imirie Fund. It was founded in 2005 by Mrs. Imirie to support six different entities annually: Frederick Memorial Hospital, Kline Hospice House, Mental Health Association of Frederick County, The Norine Haas Mental Health Scholarship Fund, Glade United Church of Christ, and the Community Foundation. Rather than create the fund using cash, she used appreciated real estate and worked with the Community Foundation’s Holding Company to transfer the net proceeds to the fund. Mrs. Imirie deemed this transaction “a very worthy project that will long serve the charitable causes my late husband and I supported together.”
Some donors set-up testamentary funds, meaning that the fund isn’t active now, but will receive money from their estate and become an active grant and/or scholarship fund after their lifetime. The Linwood T. Offutt Fund for The Frederick County 4-H Camp Center, established in 2017, provides an annual grant to support Camp Center programs and activities. The purpose of the fund was defined by Mr. Offutt before his death and honors his lifelong career as a farmer and his devotion to agriculture education for youth. It also reflects his active memberships in many agricultural organizations in Frederick County.
Mrs. Cook, Mrs. Imirie, and Mr. Offutt have all passed away, but their legacy and impact within our community continue through their funds. Creating the funds, or the framework for a fund during their lifetime provided them great peace of mind that their charitable goals would continue to be carried out. We are honored to make these dreams come true, forever.