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Types of Funds
When you become a Community Foundation donor, you have the flexibility to create and shape your own charitable fund to reflect your personal goals and desires. Review our various fund categories and consider our various options. We offer many different types, each customized to help you make the most of your giving.
Donor Advised Fund
A donor advised fund is our most flexible fund. With this type of fund, you consolidate all of your charitable giving into one invested vehicle. Once the fund is established, you may recommend grants at any time for $500 or more to a 501(c)(3) public charity. You can use your fund to recommend donations to the charities to which you already give, and/or we will provide information on organizations or areas of interest to assist you in choosing your grant recipients. This type of fund is useful for donors who want to be personally involved in their giving.
With a designated fund, you can name one or more specific organizations or agencies to benefit from the fund. Your gift is invested for long-term growth and provides perpetual support to the organization(s) that you choose. Moreover, your designation will be honored through the years unless the designated organization ceases to operate or ceases to deliver the services that you'd like to support. If this occurs, our Community Investment team stands ready to help you identify other organizations whose work interests you.
A field-of-interest fund gives you the opportunity to target your contribution to one or more fields of interest that you care most about such as education, youth, health, the arts, etc. These funds are broad in scope, yet targeted so as to meet the needs of the region. Our experienced and knowledgeable staff will use their expertise to identify, evaluate, and award grants to the most qualified and deserving organizations and programs in your area of interest.
A scholarship fund lets you help deserving students further their education. You can designate any level of education from preschool to postgraduate work, as well as a field of study and eligibility requirements.
Unrestricted funds are essential to building a flexible and responsive community endowment that can respond to changing and emerging needs. They enable The Community Foundation and our regional affiliate foundations to make grants to a variety of community programs and services. Unrestricted funds are established without designating how the money will be spent; instead our board of trustees determines how to invest the fund most effectively to meet the our communities' most pressing needs. In exchange for your generosity, we charge no management fees for unrestricted fund donors.
Supporting Organization Fund
With a supporting organization fund, families or corporations can choose to affiliate with The Community Foundation as a supporting organization, which retains its own identity and offers donors full participation in the organization’s grantmaking, investment decisions, and operation. The supporting organization gets the benefits of our professional and administrative services, as well as benefits from our favorable tax status as a public charity.
Finally, an agency endowment can be established with The Community Foundation by a nonprofit organization. Contributions from many different donors are collected and invested with us, and the earnings from the principal are granted to support the programs or operations of the nonprofit organization. The agency endowment is provided at no cost to nonprofit organizations, freeing them from the administrative and investment burden of their assets; however, a fee of 0.5% of the fund balance is charged annually to cover the administrative costs associated with the fund.