Types of Charitable Funds you can create at the Adams County Community Foundation
Most of our charitable funds are permanent. Gifts to permanent funds are invested for the long-term, and each year a portion (usually 4.5%) is granted to support the fund’s charitable intent. Some of our charitable fund types can be non-permanent or pass through. Up to 100% of these funds can “pass through” to support the fund’s charitable purpose at any time.
A Fund for Adams County – A gift to establish a Fund for Adams County helps meet the changing needs of Adams County, now and in the future. Grants from these funds broadly support the well-being and vitality of Adams County and its residents, and are distributed to qualified organizations seeking support through the Community Foundation’s Adams County Grants Program. When you establish a Fund for Adams County, you leave grant making decisions to the Community Foundation, relying on the Community Foundation’s extensive experience and reach within the community to know which needs are most pressing.
Field of Interest Fund – Donors who feel strongly about a specific cause or a particular geographical area and want the Community Foundation to focus on grantmaking may want to establish a Field of Interest Fund. This type of fund allows you to identify and support a general charitable purpose (i.e. economic opportunity, strong and connected neighborhoods, helping families with disabled children, etc.), a category of interest (i.e., arts, education, human services, etc.), and/or a specific geographic area that you feel passionate about supporting (i.e., recreation programs in your community, general support for charitable projects in a specific town, etc.). Your goal is to support a specific charitable activity or outcome, though not necessarily a specific charitable organization.
Designated Fund – Donors with strong ties to one or more particular nonprofit organizations may want to establish a Designated Fund. With a Designated Fund, you “designate” one or more specific charitable organizations that your fund will support during and beyond your lifetime. You may even designate specific aspects of the organization to support, such as operations, research or a specific program that inspires you. The Community Foundation actively monitors all of its grantees. If the beneficiary organization ceases to exist, loses its tax-exempt status or changes its mission, your gift is redirected to support an organization with a similar mission.
Donor Advised Fund – Donors who want an active role in grantmaking can establish a Donor Advised Fund. This allows you to recommend charitable organizations to receive grants from your fund. The Community Foundation helps you by verifying the charitable status and mission of the organizations and identifying organizations you may want to support. Other family members can also be named as successor advisors, which enables your loved ones to carry on family philanthropy.
Scholarship Fund – These funds allow a donor to provide financial assistance for academic need. Scholarships may be directed to a particular school of higher learning, field of learning, career, or student qualification.
Nonprofit Agency Endowment Fund – Nonprofit organizations can also establish Agency Endowment Funds at Adams County Community Foundation. With an Agency Endowment Fund, the nonprofit organization is the designated charitable recipient of distributions from the fund. Establishing an Agency Endowment Fund is a simple and efficient way to build and secure endowment for the future. The larger an organization’s endowment, the less it has to devote current gifts or other assets to budgeted items.
For more information, contact Ralph Serpe at 717-337-0060.