Create a Fund

There are tax advantages to having a fund at the Foundation, and a fund can help you or your organization achieve big goals.

We can help with your charitable goals. Here’s how.

Creating a fund at the Foundation was a key to construction of Eden Prairie's Miracle Field.

Creating a fund at the Foundation was vital to construction of Eden Prairie’s Miracle Field.

If you have a charitable goal in mind — a specific Eden Prairie project or simply a desire to give back to the community — the Eden Prairie Community Foundation can help.

We offer several charitable vehicles that are easy and efficient ways for you to support the issues, projects, and organizations that you care about. One vehicle is a donor-advised fund and the other is a designated fund. In both cases, you are tapping the Foundation’s resources: a safe place to keep funds, the organization’s 501(c)(3) status, and the expertise of Foundation staff. Here’s a current and downloadable list of funds at the Foundation:

List of Funds at the Foundation (PDF)

Donor-Advised Funds

A donor-advised fund is a good way to practice family philanthropy and give back to a community that’s been good to you. You participate directly in the grantmaking process by making recommendations for grants to specific organizations from the fund — and the Foundation staff is here to help.

You can use cash, stock, or other assets to establish a donor-advised fund, and those assets will be carefully invested. This type of fund is ideal for families or individuals who wish to be philanthropic, because it is:

  • Personal. You can recommend grants to your favorite charities, wherever they are located, and at the time of your choosing.
  • Flexible. You can add to the fund whenever you want. The Foundation can accept donations of almost any asset, including stock.
  • Efficient. You can focus on your giving. Recommending grants is easy because the Foundation takes care of all the administrative steps.
  • Informed. Foundation staff can help you learn more about nonprofit organizations that meet your charitable goals.
  • Family-friendly. You can involve your family any time, and allow them to make grants from the fund in the future.

Designated Funds

A designated fund can help you support the good work of a specific organization that has touched your life, or accomplish a project that benefits Eden Prairie. With a designated fund, the Foundation serves as your fiscal sponsor.

You may have seen this fiscal sponsorship in action already! We’ve helped organizations, families, and others do projects, including:

  • Build the Eden Prairie Miracle Field for disabled youngsters.
  • Establish the EP Reads program to promote literacy and bring well-known authors to Eden Prairie.
  • Support the Eden Prairie Players’ community theater efforts.

A designated fund starts with an agreement between your organization or family and the Foundation. It outlines the purpose of the fund and stipulates that the fund will share a small portion of the total administrative costs of the Foundation. In return, we provide 501(c)(3) tax-exempt status, online giving using the Foundation website, grant-making for the organization’s mission, state sales tax exemption, professional auditing, and annual reporting to the IRS and State Attorney General’s Office. All of this frees you to focus on your mission and fundraising.

Here’s what Dave Espe, who helped lead the effort to build the Eden Prairie Miracle Field, had to say about using the Foundation for its designated fund:

“In working with The Foundation, we didn’t have to set up a 503b or bank account. The Foundation did all the work for us so we could focus on our mission – raising funds and building the Miracle League Field! They have been a tremendous partner, and I couldn’t be more pleased with their service and support.”

Explore Fiscal Sponsorship

Download this FAQ fact sheet (PDF), or contact Mark Weber, executive director at mweber@epcommunityfoundation.org or (952) 949-8499.

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Join Our Community

Signing up for the enewsletter is the best way to stay up-to-date on philanthropic events, volunteer opportunities and other ways that Eden Prairie gives back.

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Eden Prairie Community Foundation

OUR MISSION: Enriching our community through philanthropy, collaboration and leadership.

OUR VISION: Enhancing the quality of life for all who live and work in our community.

Contact

Eden Prairie Community
Foundation
8080 Mitchell Road
Eden Prairie, MN 55344

(952) 949-8499
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Eden Prairie Community Foundation