A Family Fund allows individuals and/or family members to provide a source of perpetual support through a permanently endowed fund. You and your family members have the authority to direct earnings on behalf of the fund. Donors make a charitable contribution and receive an immediate income tax deduction. Additional gifts may be made to the fund at any time. All the earnings can be spent, but the corpus becomes part of the permanent endowment, allowing the fund to grow indefinitely.
You have the authority to direct contributions of 100% of the annual earnings. At least 51% must go to Methodist-related charities in the United States. Up to 49% of the annual earnings can be sent to any qualified 501(c)(3) charity in the United States. Donors retain advisory privileges with respect to the distribution of funds. The minimum amount to establish this type of fund is $50,000.