How can my client provide support for a favorite charity through the Community Foundation?
Your client has two great options for supporting their favorite charity–a Donor Advised fund or a Designated fund. In both instances, the Community Foundation handles all of the administration, record keeping, and financial statements for the funds. A Donor Advised fund gives individuals, families or businesses the opportunity to participate in grantmaking by recommending nonprofits and programs to receive grants. Your client can take advantage of current information about local needs and opportunities–and even include his/her family or business in recommending grants. It is a simple, personal and highly effective way to give. A Designated fund provides endowment funding for a specific nonprofit organization and can be set up to allow the organization to build the fund over time. Each year, the earnings from the fund can be distributed to the nonprofit or retained for future use.
Related Questions
- If the Foundation successfully establishes an endowment fund to take care of the Park will the town cease to support the Park financially?
- Why establish a fund with the Community Foundation instead of giving directly to a favorite charity?
- Can the Japan Foundation support the cost of my undergraduate / postgraduate study?
