Greater Lowell Community Foundation

Personal Stories

Belinda Juran and Evan Schapiro: Helping to Maintain and Grow the Merrimack Valley’s Rich Cultural Tradition

Belinda Juran and Evan Schapiro

As residents of the Merrimack Valley for the past 25 years, Belinda and Evan often took advantage of the rich and diverse cultural opportunities that the region offered. Unlike Boston, where the scene is dominated by large cultural institutions with a large donor base, the Merrimack Valley's arts scene typically consists of a more diverse group of smaller and less well-known organizations. So, Evan and Belinda were especially surprised to learn that the Merrimack Valley did not have a permanently endowed Arts Fund dedicated to the support of local cultural organizations. MORE

Peter S. Stamas: Dedicated to Education in Lowell for 17 Years

Peter Stamas

Peter’s Passion: Education and civic involvement.
As headmaster of Lowell High School for 17 years, Peter shaped the minds of Lowell’s future leaders and led by example. He believed community services was the way to better our region’s quality of life. More...

Creating a Fund

Getting Started

We have made it easy to establish your own charitable legacy. You have free access to the Community Foundation’s professional staff who will be happy to work with you and your advisors to decide how best to accomplish your charitable goals.

A family, individual, nonprofit agency or corporation may initially establish a named fund with $1,000 in cash, securities or other property. The Fund must be built up to $5,000 within a five-year period before grants can be awarded.

How can I create a fund?

There are many ways for individuals, families, companies and private foundations to establish a fund at the Greater Lowell Community Foundation. The arrangements usually can be made during one meeting, with funds being governed by a clear and brief agreement. You can establish a fund right now or later during your life. Through a charitable gift annuity, or a charitable remainder trust or you can establish an income stream now and a fund at a later time, or create a fund upon your death.

Establishing a fund by will

You or your counsel are encouraged to contact us to be sure that we meet your goals. Donors sometimes benefit from writing a "side letter" with Foundation staff that outlines in greater detail your intentions for the bequest and how the Foundation will carry out those wishes.

Establishing a fund by trust

Charitable trusts can benefit any of the permanent funds at the Foundation or other named nonprofit organizations. Such trusts can provide a current tax benefit, reduce estate taxes, provide for family or friends, and ultimately benefit the community. The Community Foundation can also serve as trustee when other nonprofit groups are supported through an endowed fund with us.

Why should I consider creating a discretionary fund?

Your gift keeps pace with changing times. Your gift will be overseen by current community leadership, and it will be used to meet current community needs, regardless of how they change over time.

How can a private foundation participate?

Private foundations can work as a partner with a Community Foundation to facilitate their own grant making process through a donor advised fund at the Community Foundation. Private foundation trustees continue to advise where, how and when grants should be made from these funds. A private foundation can also work with the Community Foundation on its discretionary grant making efforts.

Sometimes it is in the best interest of the trustees of the private foundation to convert into a donor advised fund that continues the original name of the founders. In addition, assets may be distributed to a discretionary fund at the Community Foundation or to one or more field of interest funds. Private foundations may also convert into a supporting organization of the Community Foundation. This corporate form allows donors to participate on a Board of Directors, recommend grants and review proposals.

The Community Foundation can also prepare draft endowment agreements, charitable gift annuity projections and other reports.