Types of Funds

FUND for the community

This type of fund gives the Community Foundation the flexibility to support innovative programs, try new approaches, and apply grant money where it's needed most--even as needs and priorities change through the years.  These funds can be established in the name of an individual, couple, family, or business.  Learn more about Funds for the Community.

 

Field of Interest Fund

This fund allows you to identify a broad area of interest to support (the environment or Boyne City, for example). The Community Foundation will award grants to those agencies and programs that address needs within that field.

 

Donor Advised Fund

This popular type of fund allows you to have an ongoing involvement in the way your gift is used. You'll work with the Community Foundation's grantmaking staff to identify and review community needs, match them with your interests, then recommend grants to our board of trustees for distribution. Many donors use this kind of fund to carry out all their annual charitable giving, and to support organizations and causes they care about close to home, as well as those outside our geographic area.  This alternative to a private foundation has many benefits.

 

Scholarship Fund

If you are interested in helping local students achieve their academic or vocational goals, this type of fund is for you. You may define the scholarship's purpose and set guidelines for candidate selection.  Scholarship funds are an excellent way to memorialize or honor a special person and may be created by individual donors, service clubs, businesses, churches, or civic organizations. Starting a fund requires a minimum contribution of $20,000. As an alternative to starting a new fund, you may also wish to contribute to our geographic specific funds (Boyne City, Boyne Falls, Charlevoix, East Jordan). Contributions (of any size) to these funds will be pooled and distributed once the $20,000 minimum is reached.
 

Organizational Fund

So many hardworking nonprofit organizations serve our community--and they always need financial support to meet their missions. Organizational funds are established by agencies as a means of providing a lasting endowment that can generate ongoing income well into the future. These funds are open to donations from other supporters too.

 

Designated Fund

Are there charitable organizations you care about and would like to support? A human service agency, library, arts organization or school? A designated fund allows you to specify one or more nonprofit, along with the percentage of grantmaking dollars from the fund you want to direct to each. If, in the future, one of your named organizations should cease to exist or change their mission, the Community Foundation will make certain your charitable intentions continue.

 

Learn more about how to start a fund or give us a call to discuss your interests at 231-536-2440.