There are several types of charitable funds available to support your giving goals. Our staff can help you choose one or more that match your charitable intent and your personal approach to giving.

Donor Advised

These funds are established by donors who wish to actively participate in the grant-making process in a convenient and flexible manner. Individuals, corporations, families, or committees who establish a fund advise our staff throughout the year with respect to grantmaking that benefits charitable projects or organizations of their choice. Donor Advised funds make it easy to give to multiple nonprofit agencies in varying amounts at numerous times throughout the year. Successor advisors can be named and the fund can be a beneficiary of a will, a gift annuity or charitable remainder trust. Please note that the Community Foundation's Board of Trustees is legally responsible for approving all grants. Click here to download our Donor Advised Fund Overview.

Designated

Donors (individual and corporate) who wish to support specific agencies or causes can establish a designated fund; in the alternative, a donor may choose to contribute to an existing designated fund. If the original charity ceases to exist, becomes obsolete, or is unable to perform its charitable purposes, the Community Foundation's Board of Trustees will redirect the funds to an organization providing similar service, without the cost of expensive legal action.

Agency

Agency Funds are established by nonprofits to grow their endowments. The Community Foundation offers an investment program and planned giving services that involve complex assets, gift annuities, and trust arrangements. This partnership allows agencies to focus their staff and board time on marketing and solicitation efforts.

Field of Interest

These funds are often established to support particular interest areas, specific program initiatives, causes, or geographic areas. To honor the donor's wishes, use of the funds is restricted to a specified area of interest. Grants from these funds are awarded to local nonprofit agencies by our Community Fund Committees. A field of interest fund is similar to an unrestricted fund (see below), except that with a field of interest fund the donor specifies a general area of use when the fund is established. The donor does not reserve an ongoing advisory role.

Scholarship

Scholarship funds can be structured to benefit students at any education level, and may be directed to a specific educational institution. Some donors choose to stay involved through advisory relationships, while others name advisory committees to assist in the selection of recipients. Either way, our staff handles the necessary paperwork and ensures that scholarships are distributed appropriately. Distributions are used exclusively for scholarships in accordance with objective criteria established for the fund. Scholarship funds must be endowed, and a minimum balance of $20,000 is required. To download Scholarship Fund Guidelines and a sample Scholarship Application, please visit the Publications and Documents page.

Charitable Remainder Trust

The Community Foundation can administer charitable remainder unitrusts and annuity trusts, both of which pay lifetime income to you or other named beneficiaries. Establishing a trust is simple. Cash or property is transferred to the trust. The income beneficiaries receive annually an amount equal to a fixed percentage of the trust's fair market value (unitrust) or a fixed dollar amount (annuity trust). Upon termination of the trust, the assets are transferred to your named charitable fund to support your individual or personal charitable giving goals.

Charitable Gift Annuity

A charitable gift annuity allows you to receive a guaranteed income for life and an immediate income tax deduction, while at the same time, leaving a legacy to the charitable cause of your choice. Through a charitable gift annuity, you receive a fixed stream of income for life. After paying the lifetime annuity to you and your spouse, the remaining principal is transferred to your named charitable fund to accomplish your specific charitable goals. Payments to you are based on your age; the older you are, the higher the rate. If the annuity is for you and your spouse, the calculation is based on your joint ages. If you do not need the income now, you can use a deferred plan and receive the income tax deduction now, but begin receiving payments when you reach a specific age. A charitable gift annuity is an excellent complement to an existing retirement plan. The tax advantages of both a current and deferred annuity are two-fold. First, you receive an immediate income tax charitable deduction when you create your annuity. This is based on your age and annuity payout rate. Second, a portion of the payments you receive may be treated either as tax-free return of principal or long-term capital gains. These tax advantages increase the net income you receive.

Unrestricted

These funds are not designated for use by a particular agency, cause or area of interest. The Community Foundation's Board of Trustees oversees the use of these funds, setting priorities for their use and determining how grants will be distributed to support the charitable needs of our community. Unrestricted funds give us the ability to respond to pressing and often changing needs in the community. The Board of Trustees empowers our Community Fund Committees to recommend unrestricted grant awards.