Donor Advised Funds

Your clients can simplify their charitable giving by establishing a standard or an endowed donor advised fund. Either way, they — or anyone else they name — will be able to make recommendations to the Community Foundation as to which charities should receive grants from the fund. Donor advised funds afford your clients the flexibility to make contributions at any time and receive an immediate tax deduction. Granting also occurs on their schedule, providing them the option to begin immediately or at a future time. All the while, the Community Foundation carefully invests the fund’s assets to leverage opportunities for market growth. In short, a donor advised fund is a very appealing, low-cost alternative to a private foundation, one that offers superior tax benefits without the administrative burdens and responsibilities.

Designated Funds

Clients who wish to benefit one or more specific charities on an ongoing basis will appreciate the ability to establish a designated fund with the Community Foundation. Functioning as an endowment, the fund is managed by the Community Foundation to further your client’s charitable intent in perpetuity. That means your client’s fund will have a lasting impact, granting a judiciously determined portion of its assets every year to any organizations your client names. If an organization dissolves or dramatically changes its mission, the Community Foundation adjusts the fund’s grantmaking to remain true to the client’s original intent.

Field of Interest Funds

You may have a client who is passionate about one or more causes, such as education or the environment. For their own reasons, whether they are not familiar with organizations doing good work or they feel that outstanding organizations can change from time to time, that client may decide not to support a specific charity. That is perfectly understandable, and a field of interest fund allows your client to structure their philanthropy in this way. They simply select their specific cause(s) and entrust the Community Foundation to determine which organizations are most worthy of grants from the fund. Nevertheless, the Community Foundation welcomes whatever input your client may have to offer.

Scholarship Funds

Your client can customize a scholarship fund to reflect their values or areas of interest, or even to support students attending their alma mater or favorite institution(s). The fund can be structured as an endowment or set up to distribute a value that your client determines each year. If desired, the client can also choose to stay involved as an advisor or scholarship committee member. The Community Foundation will ensure that the fund observes all IRS requirements and that the necessary paperwork is handled for your client. In the end, it is a simple and personally fulfilling way to ensure that the increasingly expensive dream of continuing education remains alive and accessible for hard-working students every year.