Berkshire Taconic Community Foundation

Field of Interest Fund

With a field of interest fund, you can directly support a cause or organization you care about. Donors use field of interest funds to support the arts, provide health and human services, create scholarships and help protect the environment.

Depending on how you establish the fund, you may make grant recommendations or have Berkshire Taconic oversee a competitive grantmaking process.

You receive an immediate charitable income tax deduction when you open your fund. Additional gifts of any amount may be made whenever you wish. Any investment growth within the fund provides additional tax-free charitable capital for grants.

Berkshire Taconic invests the funds, provides record-keeping services and, if requested, will work with you to set up criteria and a committee to oversee a competitive grantmaking process.

Minimum to open a field of interest fund: $5,000 nonendowed; $25,000 endowed

Investments

When you open your fund, you may select from one or a combination of our three investment pools.

Our Investment Committee meets four times a year and monitors all investment activity. Our administrative staff, led by Jill Gellert, vice president of finance and administration, provides day-to-day oversight. Any investment growth within the fund provides additional tax-free charitable capital for grants.

Fees

Each charitable fund pays an administrative fee, which help supports our wide range of services and community work. Administrative fees are charged quarterly based on the average daily balance of the fund.

The administrative fees for endowed funds are:

2.0% per year on portion up to $250,000
1.75% per year on portion $250,000—$1 million
1.0% per year on portion $1 million—$3 million
0.75% per year on portion $3 million and above
(minimum fee is $125 per quarter)

The administrative fees for nonendowed funds are:

2.25% per year on portion up to $250,000
1.75% per year on portion $250,000—$1 million
1.0% per year on portion $1 million—$3 million
0.75% per year on portion $3 million and above
(minimum fee is $125 per quarter)

To talk to us about starting a field of interest fund, contact Jennifer Dowley, president, at jd@berkshiretaconic.org or 413.528.8039.