Please use our online Gift Intention Form to make a donation to a fund already established at the Bermuda Foundation. Please note that contributions are subject to the Gift Acceptance Policy of the Bermuda Foundation/Friends of the Bermuda Community Foundation and are irrevocable upon acceptance.
The Bermuda Foundation is a place for people who want to invest in improving the quality of life of Bermuda. The local nonprofit sector provides essential services in education, social welfare, health, education, sport, the environment, and the arts. Bermuda cannot afford to lose the services provided by its nonprofits.
The following guidelines will help you determine what types of assets are eligible as contributions to your Fund account.
Contribution Types
Cash equivalent assets:
US dollars tendered by check or wire.
Publicly traded securities:
Stocks (certain restricted and closely held stocks may be accepted subject to Friends of Bermuda Community Foundation Board approval), bonds and mutual fund shares.
Testamentary gifts:
You may decide to name your Fund account as the beneficiary of cash equivalents, securities or other assets itemized in your will, living trust or other testamentary instrument, or as a beneficiary of other types of property, such as:[1]
- Individual Retirement Accounts (IRA)
- 401(k) plans
- Charitable remainder trusts
- Certain charitable lead trusts
- Cash value of life insurance policies
- Brokerage or other accounts allowing designation of beneficiaries
Other assets:
Real estate, collections (art, coins, other items with recognized and significant auction value), non-publicly traded securities (shares of a privately-held company), etc. will be considered on a case-by-case basis. Prior to contributing assets such as these, contact Friends of Bermuda Community Foundation to discuss your contribution.
[1] We recommend you consult a tax and / or legal advisor to determine if your Fund account may be identified as a beneficiary of any testamentary vehicle or of any other vehicles and accounts allowing designation of beneficiaries. As with all contributions, Friends of Bermuda Community Foundation reserves the right to review and approve contributions based on the policies outlined in this Guide and the Gift Acceptance Policy. Any contributions deemed unacceptable by Friends of Bermuda Community Foundation will be returned to the contributor.
Contribution Minimums
Click here for more information on donor fund fees and contribution minimums.
Third-Party Contributions
Relatives, friends, colleagues or business partners may be interested in contributing to your Fund account. The following rules apply regarding third-party contributions.
- Standard donation minimums apply.
- Third parties may only make contributions to your Fund account. They cannot recommend grants and hold no other rights or privileges. If you would like your relative, friend, etc. to have access, rights and privileges to your Donor Fund, you may elect to appoint him / her as a Fund Advisor using the Account Information Change Form. .
- You may not gift any item or monetary reward to third parties in exchange for their contribution or guarantee that specific grant recommendations will be honoured in exchange for contributions made by third parties.
Contribution Acknowledgment
Once we have reviewed, approved and accepted contributions from any donating party, we will send a written confirmation indicating contribution acceptance to the Donor of Record and, if applicable, to the contributing party.
For donations made via our 501c3 facility Friends of Bermuda Community Foundation, this written documentation may serve as a record for any Federal or State tax deductions the contributing party may make.[1]
When you recommend a grant from your Donor Fund to a Board-approved charity or not-for-profit, and it is received by that charity, the recipient organisation may choose to send written acknowledgment of the donation. Sending any written acknowledgements for grants received by non-profit organisations is at the sole discretion of those organisations. We have no involvement or influence over the acknowledgement process, receipts, etc., of the recipient organisation(s).
[1] We recommend you consult a tax and / or legal advisor to determine the allowable tax deductions at the Federal and State level relating to your particular circumstances.