Types of Funds
The CFNSV offers a range of giving options to help you give confidently and efficiently. Set up a donor advised fund to actively participate in grant making. Or make a gift to a collective fund that broadly benefits the community’s greatest needs or focuses on a specific issue that is important to you. Review each type of fund below to see what fund type best meets your needs, You can also review a sample agreement, or contact us to discuss your giving needs.
Agency Endowed Funds
Agency Endowed Funds are created by nonprofit organizations to provide long-term funding for operations and programs. It’s a simple and efficient way to build an endowment – and help create sustainability – for your nonprofit organization. Through diligent planning, annual distributions from Agency Endowed Funds can eventually offset some or all of a nonprofit organization’s operations expense.
Nonprofit organizations can also establish a Designated Fund at the Community Foundation. Agencies establish these funds to help make it easy for donors to leave a lasting legacy to the organization. Your organization’s regular donors can leave a bequest through the Community Foundation to benefit your organization forever and create a personal legacy. The Community Foundation can facilitate gifts of appreciated stock or real estate.
We handle investment management and the administrative responsibility related to that endowment so that your organization’s staff and volunteer hours are concentrated on fulfilling your mission. Plus the Community Foundation’s economies of scale provide your organization the benefits of a diverse investment portfolio and low investment fees that typically come only with very large funds.
Designated Funds name one or more organizations to benefit from the endowment fund permanently. The Community Foundation ensures that the designated recipients receive support as long as they remain in existence and continue to fulfill the intended charitable purpose.
Establishing a Designated Fund allows you to support the good work of a specific non-profit organization – a senior center, museum, or virtually any nonprofit charitable organization. Because it’s given through your Community Foundation, your gift provides the organization not only funding, but also the power of endowment. Your gift provides more than just funding – your favorite organization will benefit from your Community Foundation’s investment stewardship and help with administrative details.
You can add to the fund at any time. If the organization you select ceases to exist or changes in mission, the fund can be redirected so that it continues to address your original charitable intent.
Donor Advised Funds
Donor Advised Funds allow you to participate actively in grant making by recommending distributions you would like the Foundation to make on your behalf. Working with the Community Foundation, this can be done without the administrative costs and complexities of private foundations. Donors can involve their children as advisors to perpetuate a family tradition of philanthropy.
Field of Interest Funds
Field of Interest Funds allow pooling of assets in order to address an area or issue of importance to the community (for example: children, the elderly, the arts, human services, or the environment.) Once established, Field of Interest Funds grow through gifts from others who support these same causes.
By establishing a Field of Interest Fund, you can target your gift to address needs in an important area of community life. Arts. AIDS. Aging. At-risk youth. Historic preservation. Conservation. Our board awards grants to community organizations and programs that are making a difference in the area you select. Your gift stays flexible enough to meet community needs in your interest area – even as they change over time.
While you direct and create a Field of Interest Fund, the maintenance is left up to us. Our staff continually monitors changing community needs so that you can be sure grants made in the name of your fund make the most impact in your field of interest and create your personal legacy of giving.
You can add any amount to the Field of Interest Fund you establish at any time – and so can others who share your interests in the community. Your gift becomes a permanent community funding resource.
Scholarship Funds recognize students’ achievements and help them further their education. Donors may select eligibility requirements and can designate funds for any level of education, from preschool to postgraduate work.
In creating a Scholarship, you invest in your community’s future and show students you care. Your community foundation provides the expertise to help you meet your personal goals and awards scholarships to deserving students. Your gift can help students achieve their lifetime dreams.
You can create a scholarship as a memorial to someone special, selecting eligibility criteria that exemplify that person’s goals and values – or those of your family or business. Depending on your preferences, the scholarship you establish can support any area of academic need, including tuition, room and board, and books. Our program staff tracks performance to ensure students continue to meet the terms for Scholarship support. Scholarships cannot be given directly to a student though. It must be sent directly to their school.
If the Scholarship you establish is renewable, you can review updated information on the progress of recipients over the years. You may even elect to meet these students – something many donors find very rewarding.
Unrestricted Funds give the Community Foundation maximum flexibility in responding creatively and effectively to the community’s most compelling needs and opportunities. These funds are among the Foundation’s most important assets, capable of addressing community needs as they change over time.
When you establish an Unrestricted Fund, your gift can address a broad range of local needs – including future needs that cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being; arts and culture, economic development, education, environment, health and human services, neighborhood revitalization and more. The flexibility of your unrestricted gift enables your Community Foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow.
Because you set no restrictions on the use of your gift, it enables our staff and board to do what they do best – assess community needs and respond by awarding grants to the nonprofit organizations that undertake our community’s most critical work. Unrestricted Funds enable your community foundation to support long-term solutions; respond quickly to emergencies; and meet changing social, cultural, educational, or environmental needs in our local community.
Grants are made in the name of the fund you establish, creating your personal legacy of giving. You may give your gift immediately or through your will or other estate planning strategy. Your gift becomes a permanent community funding resources.