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Donors may elect from a variety of fund types, which vary in the degree of involvement the donor may have in awarding the grants from the fund to carry out the donor's intent. Contributions to any of these funds are tax deductible at the time gifts are made to the Foundation, regardless of when distributions are made to charitable causes.
Donor Advised Funds
- Give donors maximum flexibility in making annual distributions to charitable organizations they wish to support
- Donors may recommend grant distributions at any time
- Non-endowed (non-permanent) advised funds may be established with a gift of $10,000
- Donors may establish an endowed advised fund (permanent) with a minimum gift of $50,000
- Annual Administrative Contribution ~ 1.25% on the first $1 million; 1.0% on the next $1 million; 0.75% on the next $2 million; 0.50% on the remaining balance of the fund.
- In addition, from each gift to establish or add to a Donor Advised Fund, 1% is contributed to the Community Endowment Fund.
Designated and Agency Endowment Funds
- Donors may create a designated endowment fund for specific nonprofit or religious organizations, which will receive annual grant distributions form the fund in perpetuity
- Nonprofit agencies may create endowment funds for the benefit of the agency itself and receive grant distributions annually in perpetuity
- May be established with a minimum gift of $25,000
- Annual Administrative Contribution ~ 1.00% of the first $500,000; 0.75% on the next $1 million; 0.50% on the remaining balance of the fund
Field of Interest Endowment Funds
- Donors may create endowment funds from which grants are to be made within broadly defined categories of interest (such as the arts, education, the environment, etc.)
- The Foundation's board of directors and professional staff develop strategies and award grants to achieve maximum effect within the donor's specified area of interest
- May be established with a minimum gift of $25,000
- Annual Administrative Contribution ~ 1.25% of the balance of the fund
Flexible Focus Endowment Funds
- Donors entrust the grantmaking from the fund the the Foundation's board of directors and professional staff, who continually monitor the well-being of the community to discern just how philanthropy might best advance the nonprofit sector, and award grants based on the ever-changing conditions and needs in the community
- May be established with a gift of $25,000
- Annual Administrative Contriution ~ 1.25% of the balance of the fund
Scholarship and Award Endowment Fund
- Donors may establish a scholarship fund for students with defined characteristics and may participate in the selection process as a member of a committee
- Donors may establish a scholarship fund for a particular college or school and allow the school to select the recipient scholar
- Maybe established with a minimum of $50,000, but a balance of $100,000 must be maintained for the awarding of scholarships
- Annual administrative contribution ~ 2% of the balance of the fund
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