Types of Funds
There are a variety of charitable Funds available to support your personal approach to giving and your charitable intent.
What are the types of Funds?
Donors who wish to support a specific agency or cause can establish a Designated Fund, or contribute to an existing one. If the original charity ceases to exist, becomes obsolete or is unable to perform their charitable purposes, our Board of Directors is able to redirect the funds to an organization providing similar services without the cost of expensive legal action.
Donor Advised Funds
Donor Advised Funds allow donors to recommend charitable grants at any time, with no mandatory annual payout rate. Easy and flexible, these Funds have no legal costs and no annual tax returns. Donors receive maximum tax benefits for their giving to the Funds due to the CFCV’s status as a public charity and can access learning opportunities, online tools and expert staff.
Field of Interest Funds
Field of Interest Funds are often established to support particular interest areas, specific program initiatives, causes or geographic areas. At the donor's request, use of the funds is restricted to a specified area of interest, but flexibility remains to meet changing situations.
Many nonprofits establish an Endowment Organization Fund to grow their assets and enhance their ability to accept large and complex gifts. They look to our Board of Directors for strong investment oversight services and ask our staff to manage all of the administrative details of the endowment. This can provide a relatively constant source of annual income and help maintain their mission in perpetuity. It also frees the nonprofit to focus on what they do best in the community.
The creation of a Scholarship Fund is attractive to many donors and can be structured to benefit students at any education level, or for a specific institution. A scholarship fund can also be established to honor a loved one. 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 will handle the necessary paperwork and will ensure that scholarships are distributed in an equitable manner.
Special Projects Fund
Special Project Funds are pass-through Funds that support a specific charitable purpose and solicit support from a broad range of donors. Non-endowed and not invested in our main investment pool, these Funds are held in cash during their time at the CFCV.
Unrestricted Funds give the Community Foundation the ability to respond to pressing and often changing needs in the community. They allow our Board of Trustees to identify opportunities and target dollars where they will be most effective. Donors can establish a named permanent fund for a minimum contribution of $20,000.