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The Coastal Bend Community Foundation has the flexibility to help you establish a fund designed to fulfill your charitable wishes. You may choose any one of the types of funds listed below – or a fund combining two or more types of funds may be established. Choose those that match your personal approach to giving and your charitable intent. Our staff is eager to discuss these options with you and to help you set up a fund that matches your giving needs. It is the Foundation’s desire to serve a wide variety of donors and types of funds to address the many charitable needs in our area. While we will be pleased to handle non-permanent funds, we hope to add to our endowed funds to provide a continuing source of funds to meet the changing needs of our area.
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Donor Advised Funds
Donor advised funds are established by donors who wish to actively participate in the grant-making process. Individuals who establish a donor advised fund recommend charitable projects or organizations they want to support. It is easy to give to multiple nonprofits through a donor advised fund. Our Board of Directors is legally responsible for approving all grants.
Designated Funds
Donors who wish to support a specific agency or cause can establish a designated fund. If the original charity ceases to exist, becomes obsolete or is unable to perform their charitable purposes, our Board of Directors is able to redirect the funds to an organization providing similar services without the cost of expensive legal action.
Many nonprofit organizations establish an endowment fund with us in order to grow assets to meet both current and future needs. They look to our Board of Directors for strong investment oversight services and ask our staff to manage all of the administrative details of the endowment. This can provide a relatively constant source of annual income and help maintain their mission in perpetuity. It also frees the nonprofit to focus on what they do best in the community.
Donors can create a new designated fund, or contribute to an existing one.
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Field of Interest Funds
Field of interest funds are often established to support particular interest areas, specific program initiatives, causes or geographic areas. At the donor's request, use of the funds is restricted to a specified area of interest, but flexibility remains to meet changing situations.
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Scholarship Funds
The creation of a scholarship fund is attractive to many donors and can be structured to benefit students at any education level, or for a specific institution. A scholarship fund can also be established to honor a loved one.
Some donors choose to stay involved through advisory relationships, while others name advisory committees to assist in the selection of recipients. Either way, our staff will handle the necessary paperwork and will ensure that scholarships are distributed in an equitable manner.
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Unrestricted Funds
Unrestricted funds are not specifically designated for use by a particular agency, cause or area of interest. Our Board of Directors oversees the use of these funds, setting priorities for their use and determining how grants will be distributed to support the charitable needs of our community. Unrestricted funds give us the ability to respond to pressing and often changing needs in the community.
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Let us help you select the fund that works best for your particular giving situation. Please click here to Contact Us for more information. |
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