TYPES OF FUNDS
The Community Foundation Martin – St. Lucie customizes its services to provide donors with a personalized philanthropy plan. Information and recommendations are tailored to donors’ interests and preferences.
Donors may establish several different types of funds with The Community Foundation. Funds may become active during their lifetime or upon their passing. The type of fund established is determined based on the goals of the tailored philanthropy plan.
For sample establishing documents, please contact us at 772-288-3795.
Our current services include:
♦ Researching potential beneficiary organizations ♦ Arranging local site visits to nonprofit organizations ♦ Providing information on current and emerging community needs ♦ Ongoing oversight of distributed funds and compliance
Donor Advised Funds
These charitable giving accounts are established by Donors who participate in grant-making by recommending charitable organizations to receive grants. The Community Foundation serves as a personal philanthropic advisor by assisting donors with receiving and evaluating grant requests as well as connecting donors with potential grant recipients, needs and projects.
Designated Funds
These funds are established by a donor to support specific charitable organizations. If the named charity no longer exists, another organization with a similar purpose is selected by The Community Foundation Board of Directors, with the donor’s or the donor’s successor advisor’s advice.
COMMUNITY FUND
Donors may make contributions/gifts to this fund and enjoy the benefit of pooling financial resources to help the Foundation issue strategic grants that address compelling needs and impact the communities served by the Foundation.
FIELD OF INTEREST FUNDS
These funds are established by a donor or group of donors to support a charitable purpose and/or broad area of need such as the arts, animal welfare, elderly, and health and human services, with The Community Foundation playing an active role in the selection of specific grant recipients. Where appropriate, the Foundation may create an advisory committee that can make recommendations for distributions.
Scholarship Funds
These funds are created by donors and can be designated for any level of education as well as a particular field of study. Scholarships may be used for trades and vocational training. Donors may recommend eligibility criteria and may serve on selection committees. The Community Foundation assists the donors with the application vetting and selection process.
Agency Funds
These funds are established by a charitable organization that designate themselves as the fund’s beneficiary. Funds may be used for special projects or programs and/or urgent needs. Funds are invested over and grant making is at the discretion of the Board and may or may not be limited to a percentage of the annual earning of the Fund.
Agency Endowment Funds
These funds are established by charitable organizations that designate themselves as the fund’s beneficiary. The fund is intended to create a means of protecting their charitable dollars for the future to ensure a source of annual support for programs and operations. Funds are invested over a long period of time and grant making is limited to a percentage of the annual earnings of the fund
For additional information, please contact Elizabeth Barbella at 772-288-3795
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