Types of Funds
Once you decide which type of fund is right for you, our staff will draft a simple agreement outlining the specific philanthropic goals you wish to achieve. Setting up a fund is stress-free and usually takes less than an hour. Our donors receive individualized services from caring staff with community knowledge.
Designated Funds
Designated Funds give donors the opportunity to support a specific nonprofit organization or area of concern during their lifetime or as part of their estate. If an organization ceases to exist, the Foundation’s Board of Directors redirects support to a similar organization doing the same work in order to honor the donor’s original intent.
Donor Advised Funds
A Donor Advised Fund (DAF) allows donors to make the recommendations for grants to organizations of their choice. Donors have the services that a Private Foundation offers without the legal costs and additional requirements that come along with it. The Community Foundation handles all due diligence and administration while the donor receives maximum tax benefits and expertise of knowledgeable staff.
Endowment Funds
An organizational or agency endowment is created by a nonprofit organization and managed at the Community Foundation to generate annual income to benefit that organization. These funds serve as a means of provision for the future of the organization\’s work, mission, programs or facility upkeep and maintenance.
Field of Interest Funds
A field of interest fund supports a donor\’s broadly defined area of interest such as the arts, the environment, education or health or a specific geographic area. Donors are able to participate in the grant-making process or utilize The Community Foundation\’s experience to identify worthy grantees, knowing that their gift will support organizations doing the most effective work in the field they specify.
Scholarship Funds
Scholarship funds allow donors to invest in the future by assisting students pursue a degree in higher education. Donors have the ability to create a scholarship fund specific to their own desires and interests by determining specific selection criteria and eligibility requirements. The Community Foundation handles managing the entire scholarship application and review process and writes checks to colleges and universities.
Unrestricted Funds
Unrestricted funds make grants according to the community\’s greatest needs. These funds allow the Community Foundation\’s Board of Directors and staff the discretion to make grants to address the most urgent needs and opportunities in the community. Unrestricted funds are long term funds that are intended to be available to benefit the community into perpetuity.
Create and Design Your Own Specialty Fund
The Community Foundation will work with you to design a Charitable Fund that will meet your specific charitable desires. If you have a vision, the Community Foundation will help you make it a reality!