Types of Passion Funds
“There is a wisdom of the head, and…a wisdom of the heart.” – Charles Dickens
You may choose from a series of easy-to-establish funds customized to enable you to fund your charitable passions while using tax-wise financial strategies that are thoughtful, meaningful and effective. We are happy to visit with you to discuss your goals and suggest which type fund is best for you. We will prepare a simple fund agreement and arrange to transfer your gift to your fund.
DONOR ADVISED FUNDS
A highly personal approach to giving. A simple and affordable alternative to a private foundation. Contribute to your fund as often as you like, receive maximum allowable tax deductions, and enjoy recommending grants to any IRS qualified U.S. charities over time – whenever you choose.
Dr. Donald J. Doudna and his family established a Donor Advised Fund, The Doudna, Nedved, DuBose Charitable Fund. Originally from Iowa, they have made Ponce Inlet their new home and want to support our community.
“Our primaryinterest involves helping children with reading and lifesuccess. Our fund allows us to align our family’s interests with providing support where and when it is needed.”
Donor advised funds are the fastest growing form of philanthropy in the United States because they allow you to easily manage the effectiveness and tax efficiency of your charitable gifts.
A primary benefit of a donor advised fund is the separation of the timing of your gifts to the fund and your grants to charities over time.
GIVE
Some years it makes more financial sense to gift certain types of assets than in other years. You decide the timing and amounts of your contributions to your fund in accordance to your personal opportunities to give and receive maximum tax savings and deductions.
- Gifts to your fund are eligible for tax deductions at the highest IRS allowable rates.
- Save capital gains tax when donating appreciated assets.
GROW
Grow your fund tax free.
- With positive returns there will be more funds available for grant making.
- Choose from the foundation’s professionally managed investment options designed to meet a range of philanthropic goals and time horizons.
- You may also choose for your trusted financial advisor to manage your fund assets (account balances in excess of $500,000).
GRANT
You recommend grants to charities most meaningful to you on your own timetable.
- You have the opportunity to carefully evaluate your choices of charities and monitor their impact.
- You may recommend any IRS qualified charity in the United States.
- Involve your children and develop a family legacy of multi-generational giving back to your community.
- You can rely on the Community Foundation to help you with new ideas, knowledge and personal service to develop giving plans to meet your goals.
- We are happy to work in close partnership with your team of legal, tax and investment advisors.
Bunching Strategies With Donor Advised Funds (PDF)
Donor Advised Funds compared to Private Foundations Chart (PDF)
DONOR DESIGNATED FUND
Help sustain and grow your favorite charity organization.
You can choose to provide sustainable, long-term funding for a charity most special to you. The Community Foundation will annually distribute a percentage of your fund, in accordance to the spending policy at the time, from your endowed designated fund to the designated charity.
You may make as many gifts to your fund as desired during your lifetime and/or through a planned estate gift. Have confidence your gifts will forever support your designated charity. The community foundation has a long history of successfully managing substantial long-term investments.
If circumstances change and your designated charity is no longer able to complete its mission, the Community Foundation may select another organization with as similar mission as possible.
FIELD OF INTEREST FUNDS
Connect your personal passion for a specific area of concern to well-managed solutions.
Field of Interest Funds allow you to define specific areas of concern – field of interest – where you have a passion for helping to solve a problem, for example, education, healthcare, children’s development, arts and sciences, economic development or the environment. The professional staff of the Community Foundation will support you by developing and managing a plan resulting in positive changes in your area of interest.
You may make as many gifts to your fund as desired during your lifetime and/or through a planned estate gift. Have confidence your gifts will forever support your area of concern. The community foundation has a long history of successfully managing substantial long-term investments with assurance the funds will be used for the intended purposes.
SCHOLARSHIP FUNDS
Help deserving students achieve their dreams.
Scholarship Funds provide you with the opportunity to give back by investing in qualifying students’ futures and their contributions to society. Honor a loved one, memorialize a gifted educator-mentor, or create a special incentive to inspire great effort.
Your establishment of a Scholarship or Award endowed fund could transform the life of future students. A Scholarship or Award Fund means that a promising student can pursue his/her dreams with your financial assistance.
Name the fund in your family name, or honor a loved one, or memorialize a gifted educator or mentor. You may identify the scholarship purpose, desired qualifications and geographical criteria, e.g. STEM, arts, environmental studies, etc. The Community Foundation will form a scholarship committee to administer the applications and selection process.
You may make as many gifts to your fund as desired during your lifetime and/or through a planned estate gift. Have confidence your gifts will forever support the education purposes you have established. The community foundation has a long history of successfully managing substantial long-term investments with assurance the funds will be used for the intended purposes.