Los Altos Community Foundation
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A designated fund is one formed for a specific, predetermined purpose which is stated in the agreement between the originating donors and LACF.
Current designated funds are:
Usually, LACF acts as the fiscal sponsor for designated funds providing the fund with a tax exempt umbrella. The following are examples of designed funds.
To open a Designated Fund, contact the Los Altos Community Foundation fill out the agreement: LACF Designated Fund Form.
LACF also establishes designated funds on their own initiative. For example the Los Altos Cares Fund, was established to provide aid to those affected by the terrorist attacks on 9/11/01 and was funded from donations from the community. The funds were sent to the New York Trust, a community foundation for New York City. The Hurricane Katrina Fund, was established to aid those impacted by the devastation in the Gulf States. Those funds were sent to the Greater New Orleans Fund for distribution as they identified needs.
Note: LACF is not engaged in rendering legal, financial, or tax advice. Information in our publications and on our website is provided as a service to provide general information about charitable giving. Many topics related to charitable giving have complexities and nuances that cannot be adequately detailed in brief articles or announcements. Individuals’ personal situations may vary. Please consult your financial or legal advisor. Performance data is based on past performance and is no guarantee of future results.
Los Altos First Friday 8/7/15
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