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Bassett Furniture Industries Employees Disaster Relief Fund

The Bassett Furniture Industries Employees Disaster Relief Fund has been established at MACF to provide assistance to employees of Bassett Furniture Industries (BFI) who have been impacted by a "qualified disaster” (as designated by the Federal Government). Applications must be completed and submitted to the Foundation for consideration. Instructions to apply for assistance are included in the application below. 

BFI Employee Disaster Relief Fund Application

 

Establishing a Fund

Establishing an endowment fund requires a minimum of $10,000 with the exception of Scholarship and Grantee Endowment funds which require a $25,000 minimum. There are no set-up fees, and it can be done quickly using a simple fund agreement. The Foundation does assess a modest one-percent annual charge to administer a fund and support its work in the community.

Take these simple steps:
  1. First, determine your charitable purpose or intent.
  2. Select the type of charitable fund that best supports your purpose. Our staff can outline your options and discuss the advantages of each.
  3. Select a name for your fund. You can use your name, that of a family member, the name of a favorite cause, or choose a name that allows you to remain anonymous.
  4. Depending on the type of fund you establish, you may designate current fund advisors such as yourself and spouse and successor advisors such as your children. This and other information noted above will be included in the fund agreement prepared by Foundation staff.
  5. Sign the simple fund agreement.
  6. Make an establishing gift. See Types of Gifts for the types of contributions you can make.
  7. Receive a tax deduction (to the maximum extent allowed by law) at the time the fund is established and when additional contributions are made to the fund.

We are available to help you with all aspects of your giving experience. If you have questions about becoming a community foundation donor that have not been answered in this section, contact us for more information.