03 of 08 · Fund Structure
Model L — Legacy &
Memorial
Legacy & Memorial Fund Structure
Create an enduring philanthropic legacy — in your name, in honor of a loved one, or to carry forward a lifelong mission. Model L funds are built for permanence, passing charitable impact across generations with full ECF administration.
At a Glance
Legal Entity
Operates under ECF 501(c)(3)
ECF Back-Office
Full — all admin handled
Fund Duration
Perpetual — no sunset required
Yes — 60% AGI (cash)
Named Fund
Yes — fund carries your chosen name
Succession Planning
Successor advisors may be designated
How It Works
Philanthropy designed to outlast a lifetime
Model L is ECF’s legacy and memorial fund structure — purpose-built for donors who want their giving to continue beyond their lifetime, or who wish to honor a person or cause with a named, enduring charitable vehicle.
Unlike a time-limited charitable project, a Model L fund is established with permanence in mind. The fund carries a chosen name, builds a defined grantmaking focus, and can be contributed to over time — including through estate gifts, bequests, and memorial donations.
ECF manages all ongoing administration, compliance, and grantmaking execution. Successor advisors can be designated to carry on grantmaking recommendations after the original fund holder. The fund lives on regardless of generational transitions.
Choose a name and mission
Select the fund’s name and define the philanthropic focus — a cause, a community, or a field of interest. ECF helps structure the grantmaking parameters.Make an initial contribution
Seed the fund with an initial gift. Model L funds can also receive ongoing contributions, memorial donations from others, and planned gifts via estate designation.3
ECF handles all administration
ECF manages compliance, annual reporting, grantmaking disbursements, and IRS filings. Your fund operates without requiring ongoing administrative involvement from you or your estate.4
Designate successors
Name successor advisors — family members, trustees, or advisors — who will carry on grantmaking recommendations after you. ECF provides continuity regardless of transition.Considerations
Strengths, limitations, & ideal scenarios
Advantages
What works in your favor
- Establishes a permanent named charitable legacy without forming a separate private foundation
- Can receive memorial donations from others in the honoree’s name — ideal for memorial campaigns
- Successor advisors can be designated, ensuring continuity across generations
- No separate 501(c)(3) filing required — fund operates under ECF’s umbrella immediately
- Compatible with estate planning — the fund can be a beneficiary in a will or trust
- Full ECF back-office support handles ongoing compliance and grantmaking without burden on heirs
- Contributions deductible at public charity rates — more favorable than a private foundation
Limitations
Where this structure has constraints
- ECF retains legal discretion over all charitable distributions — required by IRS rules
- Grantmaking is advisory; ECF must approve all disbursements to ensure charitable compliance
- Not suitable for donors who want to retain direct control over specific investment decisions
- Model L is designed for long-term giving — not ideal for time-limited projects or campaigns
- Administrative fees apply and should be factored into long-term fund planning
Best Use Scenarios
Who this structure is built for
- Individuals establishing a named charitable legacy fund to honor their life’s work or values
- Families creating a memorial fund in honor of a loved one who has passed
- Estate attorneys and financial advisors building a charitable giving vehicle into a client’s estate plan
- Proceeds can benefit multiple charitable recipients via ECF grant disbursements
- Donors who want to replace — or supplement — a private foundation with a simpler, lower-cost structure
- Philanthropists who want a perpetual named fund with professional administration but without the complexity of foundation governance
Illustrative Examples
What this fund looks like in practice
Memorial Fund
Named Fund Honoring a Loved One
After the passing of a family member, a family opens a Model L fund in their name. Friends, colleagues, and community members make memorial contributions. ECF administers the fund and issues annual grants to causes the honoree championed during their lifetime. The legacy continues indefinitely — and the name lives on in every grant recipient’s story.
Estate Planning
Charitable Legacy Built into an Estate Plan
A couple works with their estate attorney to designate a Model L fund as a charitable beneficiary in their wills. During their lifetimes, they contribute annually and recommend grants. Upon their passing, their adult children are named successor advisors and continue the family’s philanthropic mission with ECF providing full administrative continuity — no disruption, no separate entity to manage.
Foundation Simplification
Private Foundation Transitioning to a Simpler Structure
A donor who has operated a private foundation for two decades wants to reduce administrative burden without abandoning their mission. They dissolve the foundation, transfer remaining assets to a Model L fund at ECF, and eliminate annual foundation governance complexity. Their grantmaking mission continues uninterrupted — with lower costs, professional back-office support, and no board to convene.
Explore other fund structures
01 / 08
Model A
Fiscal Sponsorship
02 / 08
Model C
Pre-Approved Sponsorship
03 / 08
Model L
Legacy & Memorial
04 / 08
Charitable Events
Event-Based Fundraising
05 / 08
Focus Funds
Directed Giving
06 / 08
Corporate Charitable Arms
Corporate Initiative
07 / 08
Donor Directed Investment
Investment-Driven Giving
08 / 08
Supporting Organizations
Structured Support
Ready to open your Model L fund?
Tell us about your event and timeline. We’ll structure the fund, provide the compliance language you need for invitations and sponsor packets, and have everything ready before your first ticket goes on sale.