A Fund for You
We start every donor relationship by asking: “What is important to you?” By empowering the donor to have direction over grant-making decisions, they can see the intent of their investments maximized and their dreams as well as the dreams of others come alive.
We listen closely to our donors, community leaders, and nonprofit organizations to cultivate and maintain in-depth knowledge of the needs of the region. It is this expertise that enables us to harness the potential of our partners in NW Missouri and create a solid charitable giving plan that brings resources together for the betterment of our communities.
Donors can start a fund to use during their lifetime or leave a bequest upon their death to The Community Foundation through a fund for a cause or causes they feel strongly about. This could be a non-profit organization, field of interest or a scholarship. Starting a fund with The Community Foundation ensures the causes they care so deeply about will continue to be funded forever. It also provides future generations’ access to the quality of life you enjoyed. Communities survive and thrive through the continued support of its residents.
Starting A Fund
Starting a fund is as easy as opening a checking account. Donors can contribute cash or virtually any hard-to-value asset including real estate and closely-held stock. Did you know that donors can start their own fund for a fee of as little as $21 per month with no initial start up fee? They can experience the convenience of online grant making, automated grant tracking and a staff that works to connect them with the community needs they care about.
We offer several funds depending on your charitable giving needs:
Donor Advised Fund – This fund allows the donor to recommend how their gift is used. The Community Foundation verifies the donor’s recommendations meet its grant-making policies and the grantee organization is a qualified public charity or government entity. Grant awards are issued to charities in the name of the fund (or anonymously if the donor prefers), and contributions to the fund qualify for income tax deduction in the year they are made.
Field of Interest Fund – The donor instructs the Community Foundation to use the available grant dollars in a particular area of interest, such as education, health, youth, the environment and so forth, rather than restricting the money to one organization. This fund is flexible enough to meet changing community needs in a specific interest area.
Designated Fund – The donor instructs the Community Foundation to pay available grant dollars to one or more specific named charitable organizations, usually perpetuity. Donations are then sent in the donor’s name each year. Because the gift is given through the Community Foundation, the organization also receives services for planned giving and investment. The Foundation monitors how donations are used to be sure a need always exists.
Scholarship Fund – This fund allows donors to invest in the community’s future and help deserving students achieve their lifetime dreams. These funds provide support for individuals pursuing a training or educational opportunity. As part of the fund, donors can specify certain eligibility criteria, such as the school(s) students must graduate from or be admitted to, intended major, GPA, ACT Score or financial need. Grants may be awarded to the educational institution.
Organizational Fund – This fund is established by public charities and offers them a simple and efficient way to build an endowment and create sustainability. The Community Foundation helps the organization with planning, investing and administering the funds, as well as distributes grant dollars to the organization for general purposes.
Unrestricted Funds – The donor allows the Community Foundation to use available grant dollars for a broad range of community issues. This allows the Foundation to respond to changing community needs over time.
What’s in a name – naming your Fund
What would you like to name your fund?
Donors setting up a Donor Advised Fund (DAF) can choose a fund name to reflect a particular interest or simply their name. A fund’s name is a permanent part of that fund. Whenever a grant is made from a fund, that grant will be recognized by the fund name unless a particular grant is chosen to be anonymous. Choosing a name is an important consideration when creating a fund. The following examples may be helpful for donors.
• Name of the individual establishing the fund
(John Smith Endowment Fund)
• Name of the couple establishing the fund
(John and Jane Smith Endowment Fund)
• Name of the family represented by the donor
(Smith Family Endowment Fund)
• Name of a favorite charity or charitable purpose
(Fox Valley Healthcare Fund or Geneva Fund for the Arts)
• Name of a deceased loved one
(John Smith Memorial Endowment Fund)
Grant checks issued from a donor advised fund to a nonprofit organization typically include the fund name, so if anonymity is preferable, do not include identifying information in the fund name.