Opening a Fund
Opening and maintaining a fund at Berkshire Taconic is simple and flexible. We provide all administrative services related to the fund, including tax documentation, record keeping of all fund activity and investments and grant distributions to charities.
Steps to opening a fund
1. You and your professional advisor decide which fund options are the best fit. You can learn more about Ways of Giving online or contact us at 413.528.8039 or info@berkshiretaconic.org to request our brochure "Guide to Giving." Our experienced staff is always available to meet with you and your clients to discuss giving options.
2. Complete a simple new fund worksheet. If it is a donor advised fund, you name the current fund advisors and also may name successor advisors, such as children.
3. Make your initial gift using cash, stock or other assets.
Once the fund is established
1. You receive an income tax charitable deduction at the time the gift is made and each time you make additional contributions to the fund.2. Berkshire Taconic invests the assets based on your choice of our three investment options.
3. You send Berkshire Taconic grant recommendations; you may make grants in your name, the fund's name or anonymously.
4. You receive quarterly statements of the fund's activity, including the fund balance and grants made.
5. You may make additional gifts to the fund anytime through outright gifts, a bequest, a charitable trust, charitable gift annuity or other form of planned gift.