How to Create a Fund
Creating a fund is simple and often can
be achieved within one day. The Foundation will assist in choosing the fund that
matches your charitable interests. One of the first steps in planning a gift to
the Foundation is deciding which type of fund best matches your interests. All funds are
open-ended and may be increased at any time. You may also contribute to an
existing fund.
Types of Funds
Community Endowment Fund enables
AFCF to respond with maximum flexibility to our community’s needs and emergencies,
support innovative solutions to community challengers, explore unique
charitable opportunities, and enhance the quality of community life. The
earnings from these funds, after inflation, are used to meet the most pressing
needs of the community as they change over time. You may set up a Named Fund within the Community
Endowment Fund. Grants from this fund are made in the name of the Fund.
Donor Advised Funds provide more
donor involvement, allowing recommended distributions to fields of interest or
specific non-profits, changing as the donor’s interests and community needs
change. This fund can provide the anonymity a donor often desires. AFCF
communicates with the donor to keep him/her apprised of the community’s issues
and the work of the non-profits. This type of fund can be a non-permanent fund
today and built into an endowment for tomorrow.
Field of Interest Funds enable
many donors to contribute large or small amounts to one area of focus. Grants
are awarded through AFCF grant-making cycles. Endowing a fund that focuses on
one area of passion ensures that grants always go to that focus. If the
original charity is no longer in service, AFCF selects another group that works
within the mission parameters of the original.
Capital Funds are temporary funds
set up for specific non-profit projects or buildings.
Scholarship Funds provide
academic scholarships to students attending qualified educational institutions.
The scholarships may be set up for specific areas of study, and based on need.
They can be advised similarly to the Donor Advised Funds.
Administrative Funds are
permanent and non-permanent funds dedicated to supporting the AFCF services and
operation.
Designated Funds allow donors to establish a fund for one
specific non-profit agency to benefit its programs, taking advantage of AFCF’s
professional financial management and stewardship. Grants are made quarterly to
the designated agency. If the agency dissolves, AFCF selects another group that
works within the mission parameters of the original.
