Fund Options

A fund is a specific type of agreement between the community foundation and the donor reflecting the donor’s objectives regarding his or her gift. These objectives may be personal, for a family, to address an area of concern, to support a specific organization. There are many options for using funds at a community foundation.

There are several different types of funds that may be established at the CCF.  The advisor, usually an individual, family or group that is named in the agreement establishing the fund, depends on the type of fund that is established.

Donor Advised Fund:  
This type of fund is created by a single donor or a family. Over time the donor determines where and when money from that fund will be granted to what charitable (501.c3 IRS qualifying) organization.

Any kind of donor advised fund may include others besides the donor as “advisory to the fund. Children may be designated as advisors of that the fund continues after the donor’s death, for example.

A Pass Through Donor Advised Fund
The donor may grant out any or all of the money she or he has donated to this fund.

A Permanent Donor Advised Fund
only a percentage (usually 5%) of the assets in the fund at a given time may be granted to a charitable organization.  

Special Interest or Designated Fund:
This type of fund is created by one or more donors to support a particular issue or a specific organization in “perpetuity”. The advisor to this type of fund is the Foundation board, following the precise instructions stated by the donor in establishing the fund.