Everyone has dreams,
Yours can have an impact.
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 work with a wide variety of fund types; there is sure to be one that meets your needs.
Why Start a Fund?
A fund is a giving vehicle that many people use as an alternative to having their own private foundation. They have much lower administrative costs, are easy to set up and are a very flexible way to receive immediate tax benefits while also donating to causes you love for years to come.
Why CFGV?
As a community leader, the Community Foundation exists to connect people, agencies, and resources to create positive change; and we are experts in our local nonprofits and philanthropic efforts. We can help you find the right fit for your giving and provide an avenue to keep your investments local. In addition, we take care of all the administrative and grantmaking activities, eliminating the need for you to set up a separate foundation, create policies, file forms, and monitor grant recipients. We save you precious time and money. Our staff is available for personalized service tailored to each donor’s charitable and financial interests. By creating a fund through CFGV, you can multiply the impact of your gift dollars when they are pooled with other gifts and grants and build a legacy of giving in the valley.
Three Simple Steps for Starting a Fund
- Ask yourself these questions about your approach to philanthropy:
- What causes are most important to you and why?
- What are the ways you like to give back to causes that are important to you? (i.e., volunteering, serving on a board of directors, donating funds)
- Do you have a philanthropic plan in place? If not, is this something you would like to develop with the Community Foundation?
- Choose a fund type that suits your needs and goals.
- Contact CFGV at 970-641-8837 or email Jessica, to create a fund today.
“After seeing a listing of all the groups the Foundation supports, I was so impressed. So often a person doesn’t know which causes to support –the Foundation has this knowledge and is doing such great work.”
Types of Funds
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. Find more information on resources for strategic philanthropy using a Donor Advised Fund.
Designated Funds
Support specific nonprofit agencies
One or more nonprofit organizations or public agencies identified by you can benefit through a designated fund. Designated funds can offer some advisory participation from you as the donor without the restrictions of donor advised funds. For example, you can choose to advise how much and how frequently to grant to the organizations you’ve designated while still being able to put IRA rollover and other charitable vehicles to work for your fund.
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.
Other Fund Types
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 nonprofit agencies in the Valley with active building campaigns.
FISCAL SPONSORSHIP FUNDS
For a particular community purpose
Most often a fund is for a short-term charitable community project, or the Foundation may provide administrative support for a fledgling charitable organization not yet designated as 501(c)(3) .
NONPROFIT (AGENCY) ENDOWMENT
Reliable revenue for your organization’s mission
Establishing an agency endowment at the CFGV helps nonprofit organizations ensure the future with perpetual support for their work or services. CFGV staff are available to advise boards, staff, and donors to enable building an endowment that will last forever. By starting an endowment with the Foundation, an organization’s board can rest assured that future boards will not have the power to dip into funds meant to remain permanent or to serve a specific purpose.
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, a 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 the initial donors. Learn about CFGV’s current scholarships.
Whatever type of fund a donor chooses to begin, 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.
“The valley has offered such opportunities personally and as a business. REG’s fund at CFGV is a great way to give back. It’s painless!”