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Step 2: Select a Purpose for the Fund |
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What do you want to accomplish with the fund you create? Whatever your goals, you can achieve them through one of seven types of funds. Gift minimums for each fund are specified along with the descriptions below.
DONOR ADVISED FUNDS. STAY INVOLVED.
The most popular choice for donors today. A donor advised fund allows you the greatest flexibility and convenience. You receive a tax benefit in the year you make the gift. After that, you decide when to recommend grants from the fund and to what organizations. You may designate your children or others to advise the fund in the future, or use the fund as a tool to teach family philanthropy. MINIMUM GIFT AMOUNT: $25,000 (non-endowed); $50,000 (endowed).
UNRESTRICTED FUNDS. THINK BROADLY.
Preferred by donors who want their funds to always address the community's highest priorities. By establishing an unrestricted fund, the donor is assured that the money will be available for special projects or future needs that cannot be anticipated today. MINIMUM GIFT AMOUNT: $5,000.
FIELD OF INTEREST FUNDS. ADDRESS ISSUES.
Ideal for donors who want to support an area of special interest, such as education, the arts, health, the environment or a particular geographic area. MINIMUM GIFT AMOUNT: $25,000.
DESIGNATED FUNDS. PROVIDE ONGOING SUPPORT.
The choice of donors who want to support one or more specific organizations in perpetuity or for a fixed period of time. MINIMUM GIFT AMOUNT: $25,000.
SUPPORTING ORGANIZATIONS. REDUCE WORKLOAD AND ACHIEVE EFFICIENCY.
An excellent alternative to a private foundation. MINIMUM GIFT AMOUNT: $5 MILLION.
SCHOLARSHIP FUNDS.
Provide a permanent source of scholarships for students who meet specific criteria that you help develop. MINIMUM GIFT AMOUNT: VARIES, DEPENDING ON PURPOSE OF FUND.
NONPROFIT ORGANIZATION ENDOWMENT FUNDS.
Created by the Boards and donors of nonprofit organizations to create sustainability for the organization's mission and programs. MINIMUM GIFT AMOUNT: $10,000.
Enjoy giving through your fund. Once your fund is established you can:
- Add to the fund at any time in any dollar amount.
- Encourage others to add to the fund in at any time in any dollar amount.
- Specify how grant disbursements are to be acknowledged – whether in the name of the fund or anonymously.
- If you've established a donor advised fund you may recommend distributions to charities, locally or throughout the United States.
STEP 3: CHOOSE THE BEST WAY TO MAKE YOUR GIFT
STEP 4: TELL US ABOUT YOUR GRANTMAKING PLANS
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