Minimum of $10,000 to start fund
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Donor or Corporate Advised Funds® – Can be either endowment or spend-down funds; donors recommend grants to the Board for approval. Funds serve as donors’ charitable checkbook whereby the donor makes grant requests and the Foundation Board makes the distribution.
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Filed of Interest Funds – Fund created to support a particular area of interest, i.e. arts, environment, education. Parameters of giving created when fund is established.
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Designated Beneficiary Fund – Fund created at the Foundation to support a specific agency or project.
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Scholarship Fund – Parameters of giving are determined when the fund is established; IRS regulations mandate that donors’ and their relatives cannot solely decide who receives the scholarship. Donors may sit on a committee to select scholarship recipients as long as they do not have a majority vote.
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Agency Fund – Assets of another organization are held and managed by the Foundation. These dollars are reflected as both an asset and a liability of the Foundation, as the Agency can “remove” the funds at will.
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