Individuals can establish a charitable “fund” in a family name or any other name the donor chooses. The type of fund is based on the charitable goals of the individual organization. Below is a brief description of the types of funds typically available. If the descriptions don’t quite meet your goal, then let’s talk about your intentions and see what we might customize for your interests.
Community Impact Funds
Our Community Impact Fund allows the foundation the flexibility to respond to the most critical needs and interests in the community. Individuals who give to this fund or establish a named fund care about all aspects of community health and vibrancy and trust our Board of Directors to use this money to meet the most pressing community needs and interests.
Field of Interest Funds
You decide the fund’s focus, such as a specific community or education, the arts, animal welfare, or basic needs. The Foundation awards grants to high-performing organizations and programs in your selected field. Field-of-interest funds follow the donor's wishes. The causes can be specific (healthcare, children), or more general (the betterment of our town). For example, a fund can be set up to award grants benefitting the care and treatment of domestic and wild animals, or programs that develop strong families, or to enhance art and cultural activities in the community, or grants that benefit individuals facing hardship due to health-related treatments. Our Board of Directors approves the grants awarded to nonprofit organizations through a competitive grant application process or other application process. An individual or organization can also include in their agreement a recommended committee to review and advise on grant applications.
Designated funds are recommended for donors who wish to support one or more specific organizations forever. Donors specify the organization(s) who will receive the grants. With a designated fund, the grant recipients remain the same each year. Should the designated organization, or the purpose it served, eventually cease to exist, the donor can name a successor organization in the agreement or the community foundation will redirect the grant to another organization that is consistent with your original charitable intent.
Donor-Advised Funds (DAF)
Advised Funds allow you to make a gift to the Community Foundation and remain actively involved in recommending uses for the gift. DAFs are an excellent way to set aside charitable dollars now and distribute them gradually over time. You recommend the organizations to receive grants, and we do the due diligence and processing, which includes preparing and sending the grant check in your fund’s name or anonymously (your choice) and following up to ensure expenditures and goals occur as intended. Donors often regard Advised Funds as charitable investment accounts, using the fund income to support their favorite charities annually or as needs arise.
Donor-Advised funds allow donors the most flexibility to achieve their charitable purposes. These are a simple alternative to a family foundation. They are designed for donors to be actively involved in directing how the funds are used. Through a donor’s own research or with support and guidance from our knowledgeable staff, donors may request grants be made to specific organizations as charitable needs arise. Donors may select their own advisory committee to assist them in choosing grant recipients. Each request from a Donor-Advised fund is subject to approval by our Board of Directors.
Scholarship & Award Funds
Scholarship funds offer donors an opportunity to invest in our community’s future by investing in student’s academic and vocational dreams. Award Funds can recognize and inspire meritorious achievement in whatever accomplishment area a donor may want focus. We work closely with the donors to create and carry out their objectives. Together we design a scholarship or award program to meet those goals within a structure that ensures that the donors' contributions are fully tax deductible and that scholarship awards are not treated as taxable income to the recipients. Scholarship award payments are made directly to the educational institutions on behalf of the recipients.
A group of people who team together, pool their resources, and use their collective abilities to make positive change in the community. It is an effective way to work alongside others with a shared interest, learn more about issues in the community, and pool charitable gifts to have a greater impact. The group contributes to a single fund, with grants recommended by a representative committee, often supporting a common program or cause.
Organization Endowment Funds
Organization Endowment Funds, also called Agency Funds, are generally established by the named charitable organizations as a way for them to plan for a more stable financial future. Contributions of any amount are welcome to help these organizations secure long-term stability.
The Leadership Initiatives Fund
This fund is especially designed to support new and/or collaborative community initiatives that address gaps and needs. These initiatives are foundation board endorsed and supported and often best served through collective action by multiple organizations.
Ways to Give
- Real Estate
- Life Insurance
- Bequest/Legacy Giving