Types of Funds
- Donor Advised Funds – Donor Advised Funds offer the greatest flexibility and involvement in grantmaking. Donors or someone of their choosing, act as the fund advisor, requesting the Community Foundation make grants to any non-profit organizations or schools locally or nationally. Donors also benefit from the staff’s expertise in grantmaking, monitoring and knowledge of the needs in the community. Donor Advised Funds are ideal for someone wanting to take a charitable deduction for one year but spread the contributions out over the following years.
- Designated Funds – Designated Funds provide an on-going source of support for one or more of the donor’s preferred charities or agencies. These funds provide security and stability to sustain the good work of an organization over time.
- Field of Interest Funds – Field of Interest Funds offer competitive grants in broad areas of interest such as Arts and Culture, Community Development, Children and Youth, the Elderly, the Environment, Public Education and Animals. Donors give assets to a cause they care about. A competitive process utilizing staff and community volunteers helps place grant monies where they will do the most good.
- Memorial Funds – Memorial Funds ensure that a special person is remembered in perpetuity through a fund that reflects his or her charitable priorities.
- Project Funds – Project Funds assist a group or organization with a specific project or community goal like a park or playground.
- Scholarship Funds – Scholarship Funds provide tuition assistance or awards for students based on specific criteria developed by the donor. Scholarships can be focused on a field of study, benefit graduates of an alma mater or honor a loved one. The Foundation staff assists the donor with scholarship guidelines that meet Treasury regulations and manages the scholarship administration process.
- Agency Funds – Agency Funds help non-profit organizations protect and preserve their endowments for their own benefit and ongoing support. These funds provide a stable source of funding for the organization by granting a set percentage of the fund’s average balance to the organization each year.
- Opportunity Funds – Opportunity Funds are unrestricted funds that offer donors the best way to remain responsive to community needs and opportunities, now and in the future. Donors who don’t have a specific charitable focus, and wish to give back to their community in a more general way, allow the Foundation the flexibility of more strategic grantmaking given the current philanthropic needs of the community at any particular time.