The Greater Tacoma Community Foundation offers several types of funds that provide flexible options depending on your financial and philanthropic goals. The different funds allow you to be involved as much or little as you want.
For a personal conversation about setting up your fund, please call Jeff Pritchard at 253.283.5622 or send her an e-mail at jpritchard@gtcf.org.
Designated Fund
Donors who would like to support a particular nonprofit organization may want to establish a designated fund. You will “designate” a nonprofit organization that your fund will support during and beyond your lifetime. If the beneficiary organization ceases to exist, loses its tax-exempt status or changes its mission, your gift is redirected by the Community Foundation to support an organization with a similar mission. This allows your gift to meet your charitable intent forever.
Donor Advised Fund
Donors who want to actively participate in grantmaking may want to set up a donor advised fund. This allows you to recommend multiple nonprofit organizations to receive grants from your fund throughout the year. The Community Foundation offers services to assist you in making these granting decisions.
Field of Interest Fund
This type of fund allows donors to support a specific cause, a general category of interest (i.e. arts & culture, education, social services, etc.), or a particular geographical area. This allows you to give to an area you are passionate about without taking an active in role in selecting specific organizations. The Community Foundation chooses an organization to fund that meets the criteria of your field of interest.
Community Fund
Establishing a community fund allows donors to support the pressing and often changing needs of Pierce County, now and in the future. This allows the Community Foundation to distribute these funds to nonprofit organizations that best serve the community’s pressing needs.
Nonprofit Endowment Fund
Nonprofit organizations can also establish endowment funds at the Community Foundation. Often they will turn to the Community Foundation for investment assistance, allowing their board and staff to focus on the organization’s mission. With an endowment fund, the nonprofit organization receives a certain percentage of the funds total market value annually. The fund continues to grow and is retained on behalf of the nonprofit organization in perpetuity. All nonprofit endowment funds are subject to the Community Foundation’s spending policy.
Scholarship Fund
Donors specifically interested in promoting educational opportunities often establish scholarship funds. Scholarships may support any level of education and can be directed toward students attending a particular school, studying in a particular school or field or coming from a particular geographic area or community. There is no fee to establish a scholarship fund and the minimum grant that can be made from a fund is $500.
Supporting Organization
As an alternative to a private foundation, an affiliation with the Community Foundation can reduce administrative and regulatory burdens, allowing you to enjoy greater tax benefits. You are assisted by our staff with grantmaking, investment, and administration. Funds must be valued at $1,000,000 or greater.
|
