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How to Set Up a Fund

Want to set up a fund? Here are some guidelines.

You can set up specific funds, like a fund for writers, business people, teachers, musicians, actors, etc.

If you just want to set up a fund in general, a fund for private, discretionary resources to help people, including people in the community, and others, who might need financial assistance, it’s easy to set up such funds using online fundraising resources.

Sometimes people need extra funds just for friends who approach them needing money, maybe unemployed people in the community, or scholarships, or whatever. Online is a good place to raise such money. Maybe you want to start a theatre group. Maybe you want to start your own publishing company.

Maybe you like to go on dates and don’t like “discount dating.” Maybe you’re trying to set up a company and you want to raise funds. Maybe you want to invest in someone’s else business.

If you have people approaching you about money all the time, then you should consider setting up some type of discretionary fund, where a percentage of your income goes into the fund. In addition, those receiving from this fund should be required to contribute to the fundraising effort. Especially if you have unemployed people that you know, these people can receive from you, but they should be allowed to simply take advantage of you. Therefore, you can introduce them to this fund idea.

Remember the old TV show called The Millionaire, where this man gave people money anonymously. Maybe you just like being a philanthropist, not just having money for unemployed “friends.” The internet is a good place to raise money.

First, the donation model is not the model. Fundraising need not depend on donations. We suggest that you have a product that people want to buy as the source of funds. Or you have store, either online or offline. You can let the people know that if they buy the product and/or shop at the store it goes into the fund.

For example, your fundraising effort could be selling used books to online and offline used books stores. Those receiving money can contribute used books and/or help to sell them. If they don’t understand this idea, but think only about “donations” or “freebies,” then you can show them this article. Of course, people want to help people in need, friends and others, but again, people need to learn not to just take advantage of others, and many people have bankrupted themselves helping needy others. Any complaints about your non-donation model, show them this article.

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User Comments
  1. ding dong

    On October 11, 2007 at 7:41 am

    “Europeans, although Europeans have always been, along with their great achievement, a truly rowdy and corrupt bunch”

    A) what does this have to do with philantropy?

    B)”truly rowdy and corrupt”??? you don’t think of south america / africa / russia / south east asia as just maybe being marginally more corrupt places??? and maybe also just a tat more rowdy???

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