Set Up a Fund
The Foundation holds over 500 component funds that have been established by individuals and organizations. Donors to the Foundation use a variety of assets - from appreciated stock to real estate to cash - to make gifts. They may give to any of the existing specialty funds or create their own named fund.
There are nearly as many different funds at the Foundation as there are donors, since each fund may be customized to meet a particular charitable goal. Donors may choose from the following general types of funds when making a gift the Foundation:
A fund designed to endow one or more specific charities is a designated fund. If a charity changes its mission or type of services, or goes out of business, the Community Foundation directs grants to a similar organization. In this way, the donor supports the organizations he or she chooses, but ensures that the gift will remain relevant over time.
A donor advised fund allows you to participate directly in the grantmaking process by making recommendations for grants to specific organizations from the fund. A donor advisor also may work closely with the staff of the Community Foundation to select grant recipients.
If you wish to establish a fund for a specified, broad purpose, a field of interest fund is the appropriate choice. Donors with particular issues of concern (children's services, the environment, or improving access to health care by the poor, for example) may focus their giving by setting up this type of fund. The Community Foundation then makes grants to meet current needs in the specified field.
A donor may establish a scholarship fund to honor a loved one or simply as a way to assist young people with their education.
The unrestricted fund is one of the most flexible ways to give, since it may be used for any purpose approved by the Foundation's Board of Directors. This fund allows the Community Foundation to identify community needs and award grants designed to address those needs.