Dream Big. Start Small. Create an Acorn Fund with CFDRR.
Ralph Waldo Emerson wrote “The creation of a thousand forests is in one acorn.” We know it can seem daunting to start an endowed scholarship or fund at The Foundation. But we want you to know whether you have a seed or a bigger nut, your donation can make a difference for years to come.
One of the funds available at CFDRR is an Acorn Fund. An Acorn Fund allows donors, whether they are individuals, families or organizations, the opportunity to build an endowment over time. This means you can give a small gift (germinate the acorn), and you have three years to add to this fund to help it grow into a mature tree. During those three years, in order to help your Acorn Fund grow, CFDRR waives fees until the fund is fully endowed. After that, grants are awarded from the investment income the fund collects, which leaves your fund’s principal intact to ensure its longevity.
If for some reason the fund does not reach maturity after three years, donations to the fund remain tax-deductible and still benefit our service area. The fund’s balance will be held by The Foundation as a part of our unrestricted endowment funds and will allow our Board of Directors to award grants to the most pressing needs and opportunities in the Dan River Region.
The Foundation now has 196 funds, some of which started as Acorn Funds. Our generous donors have created a veritable forest that spreads its branches over our region.
Acorn Fund Fast Facts
- $10,000 starts an endowed fund
- $25,000 starts an endowed scholarship
- Until full funding is reached, an Acorn Fund is a restricted non-endowed fund.
- Gifts to an Acorn Fund can come from anyone (friends, family, businesses, organizations, etc.) over the three-year period.
- Any money given to start an Acorn Fund is irrevocable.
- An Acorn Fund can be used to start any of our endowed fund types: Unrestricted, Scholarship, Field of Interest, Designated or Agency Fund and Donor Advised.