A donor-advised fund is the most flexible fund. With this type of fund, all charitable giving is consolidated into one invested vehicle.
Once the fund is established, donors can recommend grants at any time for $500 or more to a 501(c)(3) public charity. They can use their fund to recommend donations to the charities to which they already give, and/or the NBACF will provide information on organizations or areas of interest to assist donors in choosing their grant recipients.
This type of fund is for benefactors who want to be personally involved in their giving.
With a designated fund, benefactors can name one or more specific organizations or agencies to benefit from the fund. The gift is invested for long-term growth and provides perpetual support to the organization(s). Moreover, the donor’s choice(s) will be honored through the years unless a designated organization ceases to operate or ceases to deliver the services that the donor wishes to support. If this occurs, NBACF’s investment team stands ready to help identify other organizations with the same mission.
A field-of-interest fund gives benefactors the opportunity to target their contribution to one or more fields of primary concern, for example, youth, health, the arts and so on. These funds are broad in scope, yet targeted so as to meet the needs of the community. The NBACF will use its expertise to identify, evaluate, and award grants to the most qualified and deserving organizations and programs in the donor’s areas of interest.
A scholarship fund lets benefactors help deserving students further their education. Donors can designate any level of education from preschool to postgraduate work, as well as any field of study.
Unrestricted funds are essential to building a flexible and responsive community endowment that can respond to changing and emerging needs. They enable the community foundation to identify and make grants to a variety of community programs and services.
Rather than designating how the money will be spent, benefactors allow the NBACF to determine how to most effectively distribute the funds to meet the communities’ most pressing needs.
Finally, an agency endowment can be established with the community foundation by a nonprofit organization. Contributions from many different donors are collected and invested with the NBACF and the earnings from the principal are granted to support the programs or operations of that particular nonprofit organization.