Types of Funds
FUND for the community
This type of fund allows a donor to have the greatest possible impact by giving 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 donors 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. Field of interest funds may also be named to honor or memorialize individuals, a couple, a family, or a business.
Donor Advised Fund
This type of fund allows donors to have an ongoing involvement in the way their fund is used. Donors can work with the Community Foundation's grantmaking staff to review community needs and 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.
Donors who establish a scholarship fund may define the scholarship's purpose and set guidelines for candidate selection. Scholarship funds may be created by individual donors, service clubs, businesses, churches, or civic organizations.
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.
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 donors 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.