|
|
|
Types of Funds
When
making a contribution to the Foundation, you have a choice to donate to
an existing fund or to create a separate named fund of your choice.
Many donors wish to donate to an existing fund because there is
no minimum donation amount required. There are those, however,
who wish to create a named fund in honor of family members or loved
ones. In this case, a minimum donation of $10,000 is required.
You may give the entire amount in one donation, or you may take up to
three years to bring the fund total up to the required $10,000.
Below are listed the types of funds we handle. As always,
the staff and Board at the Foundation are willing to work with you to
personalize your charitable giving to meet the goals you have in mind.
1. Discretionary: The
is the simplest fund type available. You have the ability of
naming the fund and honoring the family or person(s) you wish to honor
without having to make any other decisions. You leave the yearly grant
distribution decisions to the Board of Directors, knowing that they
have the insight and responsibility of selecting the most appropriate
beneficiaries for the grants.
2. Field of Interest: You
may name the fund and select the area of need to be addressed for grant
distributions, such as senior citizens, education, healthcare, etc.
This fund type allows you to specialize the area for grant
distribution in the beginning, while still leaving the yearly grant
decisions to the Board of Directors. This fund restricts the use
of the income somewhat, yet still allows for flexibility in meeting the
changing needs of the community.
3. Donor Advised: This
fund type requires donor input every year when it is time for
distributions to be made. You create and name the fund, then make
yearly recommendations to the Board of Directors for the organization
you wish to receive the grant distribution.
4. Donor Designated: This
is the most restrictive of all funds. You name the fund and
select the organization(s) to receive the distributions every year
without change. Because organizations can dissolve or change, the
Board of Directors retains the right to redirect the grant
distributions in the event that the original wishes of the donor are no
longer feasible.
5. Scholarship: You
can establish a named scholarship fund and specify the criteria to be
applied when selecting scholarship recipients. You may wish to
have the distributions awarded to students or a specific college or
university. You may choose to be the committee that makes the
distribution decisions or may defer that responsibility to the Board of
Directors.
|
|
