TYPES OF FUNDS
Whether you are an individual, family, corporation, private foundation, or nonprofit organization, you can choose the type of fund that best suits your intent.
FUND FOR SIOUXLAND: When you make unrestricted gifts to this endowment fund, you provide the Foundation with the greatest flexibility to respond to the ever-changing needs of Siouxland. Grants are awarded at the discretion of the Board of Directors in the areas of arts and culture, civic affairs, education, health, and human services.
DESIGNATED: You can name one or more charitable nonprofit organizations to receive distributions of income from the fund in perpetuity. Provides a way to continue lifetime annual support for an organization of special personal interest.
DONOR-ADVISED: You can remain actively involved in recommending the charitable organizations to receive grants from your fund. Unless anonymity is requested, the name of the fund is always associated with grant awards. Funds can be endowed or non-endowed. Donor-advised funds can serve as an alternative to the creation of a private foundation to alleviate administrative and reporting requirements.
FIELD OF INTEREST: You may specify one or more charitable fields of personal interest (arts, environment, education, youth, social welfare, recreation, etc.) and ask the Foundation to invite grant proposals from nonprofit organizations providing services in those fields and to select grant recipients.
SCHOLARSHIP: You may establish a scholarship fund in your name or in honor of someone else to help students pursue post-secondary education or training. You may define criteria for candidacy, the advisory selection committee, school of attendance, and the award itself.
AGENCY ENDOWMENTS: A nonprofit organization can establish its endowment within the Foundation to provide a perpetual source of support. Frees the agency of administrative and investment responsibilities, and provides assurance that the endowment will be preserved. May invite contributions.
AFFILIATE COMMUNITY FOUNDATION: An endowment fund may be established within the Foundation for the exclusive benefit of a specific geographic area (community, county, etc.). For tax purposes, it operates under the umbrella of the Foundation, a 501(c)(3) nonprofit organization, and allows donors to target charitable giving at home. Local advisory board retains the right to recommend grants from the fund for the benefit of their geographic area. The Siouxland Community Foundation provides administrative and technical assistance.
SPECIAL PURPOSE: The Foundation will receive and hold contributions from individuals, corporations, and other organizations that wish to establish a temporary fund to benefit a particular cause or campaign. The Foundation serves as the full-service administrator of gifts received and disburses the fund to the designated charitable entity.
The Foundation prides itself on its flexibility in meeting the needs and interests of donors. It will work with donors and/or financial advisors to create a fund with the terms and conditions designed to carry out desired charitable intent.
There is so much more we'd like for you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact the Siouxland Community Foundation.
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