Funds are financial accounts managed by the Community Foundation of Southern Maryland that have been established to support the work of 501(c)(3) nonprofit organizations located in Calvert, Charles, and St. Mary’s Counties and elsewhere. Funds can be established by anyone: individuals or families, businesses and educational institutions, and even private foundations and charitable organizations. The distribution of gifts from a fund can be made according to the wishes of the donor who created the fund, or left to the discretion of the foundation.
New funds can be opened with an initial gift of $500, though funds cannot be distributed until the value of the fund reaches at least $5,000. The Community Foundation of Southern Maryland employs a local investment firm to handle its investments. A volunteer Investment Committee made up of business leaders carefully monitor the investment returns and work with the investment advisors to ensure the continued growth of each component fund. The community foundation’s board of directors provide final fiscal oversight.[We will need some language on how CFSOMD meets its operational expenses, and the management fees that it charges to component funds to cover administrative efforts.]