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What is the Future Fund?
It is a giving circle of like minded young philanthropists who combine their gifts and collectively decide which charitable causes are deserving of the group's support.
What is the age group of the Future Fund?
We have not limited participation in this effort based on a person's age. If you feel you meet the definition of a young philanthropist, then you're in!
What does it cost to join the Future Fund?
$1,000 donation, per year, will be required by each couple.
Is my donation deductible?
Yes, your donation to the San Angelo Area Foundation qualifies as a gift and is eligible for a charitable deduction. The Future Fund is a component fund of SAAF, which is a 501c3 non-profit charity. (Always consult your accountant regarding deductibility of charitable donations)
If I decide to join, when is my donation due?
We want to encourage all donations to occur during the first quarter of the year. However, we also provide for "paying out" your annual donation.
Am I making a multi-year commitment?
No. Your $1,000 donation makes you a member of the Future Fund for one year. If you decide not to join the following year, then don't make your contribution. However, we do hope the Future Fund members enjoy this experience and will renew their commitment.
You say it is $1,000 per couple, but I'm single, so is there a reduced amount?
There is not a reduced amount. The $1,000 provides one vote when we decide on which organization we choose to support.
I realize you want a $1,000 check today, but can I pay it out and what other options do I have?
You can pay out your donation for as little as $100 a month if you start at the first of the year. We can accept checks, bank draft, bill pay through your bank, or you can pay on-line now using your credit card, by clicking here.
How often will our group meet?
We do not have a set schedule, but we anticipate getting together once in the spring at a "social meeting" then again in the fall when we review grant requests.
How will we decide which organizations receive grants?
SAAF will collect grant requests from charities and provide these requests to our group. (click on the Grantseekers tab for more information) Future Fund members will be able to urge their favorite causes to apply for grants. The Future Fund membership will be able to review these requests and vote on their choices, online. A final meeting in will be held to determine the grant awards.
How much will we be able to grant?
It depends on how many members join our group and how much matching funds we receive. It is our goal to grant 5% of our fund balance each year, plus 33% of current year donations. So far, we have averaged granting around $30,000 each year over the past five years for a total of fifteen area organizations recieving a total of over $150,000.
If you are interested in being a member, let us know.