Types of Funds

Donor Advised Funds

A donor advised fund is the most popular and versatile type of fund. It is similar to a private foundation but without all the administrative duties, public exposure, payout requirements and expense. It allows you to be directly involved and recommend the amount and timing of grants to the charitable organizations of your choice. For a corporation, a donor advised fund can be structured to meet the charitable and employee-involvement goals of your company.

Each donor has a unique charitable intent. In addition to donor advised funds, the Community Foundation also offers:

• Designated Funds

  A designated fund's intent is to support a specific nonprofit organization in perpetuity. You may name one or more organizations to receive annual grants from your Fund.

• Scholarship Funds

  A scholarship fund enables you to support individuals who might otherwise be unable to complete or continue their education. They are often chosen to memorialize a loved one or honor a special person or community. This is a highly personal way to directly improve the lives of young people.

• Field of Interest Funds

  A field of interest fund allows a donor(s) to target an area of philanthropic interest, whether it be a geographic region, type of program, or segment of the population. It is often used for collaborative giving— bringing like-minded donors together to pool contributions for high impact solutions to specific community needs. The community foundation selects grantees which best match that field of interest though recommendations from an advisory committee.

• Agency Funds

  An agency fund can help create a stable financial future for a nonprofit organization by guarding and growing assets. The Community Foundation handles all administrative responsibilities and investment oversight, stewards the fund for the organization’s long term needs and ensures assets are reserved for the purposes for which they were established. An agency fund may be used for a capital campaign or to build an endowment.