Types of Funds
Donor Advised Funds
This fund type provides maximum convenience and flexibility by enabling donors to make contributions to charitable organizations by suggesting distributions of income and principal to specific charities. It is especially useful for donors who want to take a charitable deduction one year and make distributions over several years.
Scholarship Funds
This fund type enables students to pursue academic goals and can be established by companies, organizations, families and individuals. Donors may define the scholarship’s advisory committee, guidelines for candidate selection, and award use. Donors often choose this type of fund to memorialize a loved one or to honor a special person.
Designated Funds
This fund type ensures support will be provided to specific eligible organizations donors may name. They may establish a designated fund to endow the charitable giving that they’ve enjoyed throughout their lifetimes. If any of the named organizations goes out of business or changes the purpose of its activities, the Foundation will ensure that the donor's charitable goals are continued.
Field of Interest
This fund type ensures support will be provided to specific eligible organizations donors may name. They may establish a designated fund to endow the charitable giving that they’ve enjoyed throughout their lifetimes. If any of the named organizations goes out of business or changes the purpose of its activities, the Foundation will ensure that the donor's charitable goals are continued.
Organization Endowment
This fund type holds assets for a named charitable organization and generally distributes investment income to that organization on a semiannual or annual basis. Principal may be distributed upon a written request from the organization’s board and approval by the Foundation’s Board. With increasing need for the services of nonprofit organizations and fewer sources of support, endowment building becomes critically important for future stability and growth. If the organization should cease to operate, the Foundation will continue the organization’s charitable objective.
To learn more about our different types of funds and investments, check out our donor resources!
Want to learn more about opening a fund?