Types of Funds

Types of Funds . . . the possibilities to make a difference are infinite!

Everyone has dreams. Philanthropy is a sure way to enable our individual and collective dreams to leave an impact on the community we love so well. When the Foundation works with you, our donors, our goal is always to be true to your intent and to find a way to help you make your gift work the way you want it to.

As a donor, you may choose to contribute to existing funds or may create one or more types of funds in your name or anonymously. Community Foundations are able to work with a wide variety of fund types; there is sure to be one that meets your needs.

UNRESTRICTED FUND . . . the best way for the Foundation to respond to immediate needs
Unrestricted funds may be established by donors who wish to leave the distribution of grants to the discretion of the Community Foundation’s Board, or a donor may contribute to our Competitive Grant Cycle fund for a particular year. Unlike donor advised or designated funds, donors do not specify certain organizations or causes as grant recipients. An unrestricted fund or gift allows the Foundation to respond to local immediate and changing needs. The Grants Committee – community and Foundation representatives – reviews community opportunities and needs, as well as requests from local nonprofit organizations, in order to determine grants in areas that include art and culture, community development, environment, education, health, human services, athletics and recreation, domestic animal welfare and protection, and historical tradition and preservation.

DONOR ADVISED FUNDS . . . your very personal approach to giving

Donor Advised Funds allow you to actively participate in the grant-making process over time. You – and those you name – may recommend grants to the Board for organizations that matter most to you at a given time. This type of fund affords the flexibility to change the organizations you support through the years. The advised fund is especially useful if you want to take a charitable deduction in one year and make distributions over several years, or if you wish to involve your family in your ongoing charitable giving.

FIELD OF INTEREST FUNDS . . . connect with your area of passion
A field-of-interest fund supports organizations in a general area of charitable interest. They could include funds that support health, social services, the arts, environment, education or a geographical area. These funds give the foundation grantmaking discretion within the specified area of interest. Field of Interest Funds are established by donors who wish to make an impact in a specific area of interest or in broad areas of concern, i.e. the arts or human services. The Foundation Board of Directors then exercises grantmaking decisions.

SCHOLARSHIPS . . . invest in the future of our youngsters
Scholarship funds can support a wide variety of educational needs of students and frequently honor a member of a family, an leader in the educational field or even a friend. Scholarship funds can be specific to one high school or open to all in the CFGV service area and can be founded by individuals, families or organizations. Scholarship Funds are tailored to meet the
intent of individual donors.

DESIGNATED FUNDS . . . support specific nonprofit agencies
One or more nonprofit organizations or public agencies identified by you can benefit through a designated fund. Your designation will be honored through the years.

NONPROFIT ENDOWMENT. . . sustain your favorite nonprofits into the future
Establishing an endowment fund at the Community Foundation of the Gunnison Valley helps nonprofit organizations ensure the future with perpetual support for their work or services. Endowments ensure that bequests or gifts benefit one specific nonprofit organization. The staff at the Community Foundation of the Gunnison Valley is available to advise boards, staff and donors to enable building an endowment that will last forever. Agency endowment funds may be started by the agency itself or by a generous donor.

FISCAL SPONSORSHIP FUNDS . . . for a particular community purpose.
Most often a fund is for a short-term charitable project for groups not designated as 501(c)(3) organizations, or the Foundation may provide administrative support for a fledgling charitable organization that will benefit our community.

CAPITAL CAMPAIGN FUNDS . . . a way to manage funds for capital projects with administrative help
On a case-by-case basis, the Foundation will consider holding capital funds for agencies in the valley with active building campaigns.

Whatever type of fund a donor chooses to found, funds remain in the name of the donor permanently, and the Community Foundation provides all the administrative support to honor the donors’ philanthropic intent. Of course, any donor who wishes to remain anonymous may do so.

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