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An Array of Options
For Achieving Your Charitable Objectives
The type of fund you start will greatly depend on the type of impact you want to have on your community.
The beauty of giving through Foothills Community Foundation is that you can be as involved as you want to be, and you can dictate exactly how your funds are used. Whether you want to make a gift now or establish a charitable legacy through a bequest in your will, our fund options are a safe, sound, and long-term solution.
Unrestricted Grant Fund
Proactive and Responsive
Gifts made via unrestricted funds allow us to target causes within our community where the dollars will be most effective. This gives us the flexibility to address pressing and often changing community needs. You may support our existing unrestricted fund or create your own named unrestricted fund. Gifts may be endowed or non-endowed.
An area fund can be established to benefit a particular community, city, county, or neighborhood within our service area. A local advisory committee is selected to help promote the fund in the particular geographical area and to make grant recommendations. Gifts may be endowed or non-endowed.
Ongoing Support for Specific Organizations
With a designated fund, you select the organization(s) you want to support and your fund provides permanent funding to help sustain the mission of the organization(s) or supplements its various service projects. Most designated funds are endowed.
Donor-advised funds allow you to recommend the charitable grants made at any time with no mandatory annual payout rate. Easy and flexible, these funds have no legal costs and no tax returns. Donors receive maximum tax benefits for their gifts and can involve family in charitable giving. This type of fund is an excellent option if you’ve considered starting a private foundation or have an existing private foundation, but want to simplify the management and lower the associated costs. Business donor-advised funds or corporate donor-advised funds may also be established.
Gifts may be endowed or non-endowed.
Field of Interest Fund
Target Specific Issues or Causes
You select specific areas of interest or community needs without specifying a particular recipient organization. The field of interest could also be a specific geographic area. The Foundation follows the direction of the fund agreement and awards grants accordingly. Field of interest funds are typically endowed.
Provide Educational Support for Students
Scholarship funds are established to help students from preschool to postgraduate studies. You establish the criteria for awarding the scholarship support, and grants are awarded to qualified students or specific institutions. Scholarship funds are typically endowed.
Support Your Organization With Professional Management
Many nonprofit organizations, churches, civic organizations, or community groups partner with Foothills Community Foundation to start organizational funds. Take advantage of our professional endowment management to free up your staff and/or volunteers to focus on the organization’s own programs and mission. Organizational funds can be endowed or non-endowed.
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Steps to Start a Fund
It’s easy to establish a named charitable fund, and it can typically be done in less than a day. We’re happy to work with you and your financial advisor to accomplish your charitable goals.
- Determine the charitable purpose or intent.
- Select the type of charitable fund from the list above that best supports your purpose. If you need more information, we can assist in explaining various options.
- Determine the amount you wish to use to establish your fund. The minimum suggested amount for establishing a fund is $10,000.
- Establish an official Fund Agreement with the Foundation that clearly reflects your intentions. For some funds you may designate current fund advisors such as yourself and your spouse, and successor advisors such as children or other family members.
- Select a name for your fund. It can be a family name or a name that allows you to remain anonymous.
- Make a gift to establish the fund. The gift can be current and/or a deferred planned gift through your estate.
- Receive a tax deduction when the fund is established and when additional contributions are made.
Once the fund is established, here’s what you should know:
- Donors may add to the fund at any time and in any amount
- Donors may make charitable disbursements in the name of their fund or anonymously.
- For Donor-Advised Funds, donors may recommend distribution to charities, locally or throughout the United States.
- Funds are governed by the Foothills Community Foundation’s adopted bylaws and guidelines. All funds are charged an annual fee by the Foundation which is typically between 1% and 1.5% annually payable quarterly based on the fund balance. There is a minimum annual fee of $250.