TYPES OF FUNDS
Unrestricted Giving
The arts, education, the environment, recreation, health & human services, housing, unemployment, domestic violence - these are some of the greatest needs today and you want to help. However, you also want your money to have an impact on the greatest needs of the future.
By contributing to the Community Foundation, the Board will manage your funds so that they are sure to be maximized for the benefit of the community. It is our job to identify the needs of the community. With the collective wisdom of our Board volunteers and staff growing over the coming decades of grant making, you can be sure that a grant made in your name today will have just as much impact for generations to come.
Field of Interest Fund
You know where your charitable interests lie now, but there is no specific organization to which you want to commit irrevocably, since time changes all things.
A Field of Interest Fund allows you to direct your giving as narrowly or as broadly as you choose. Whether your interest is in fostering the arts or providing support to low-income children, you can depend on the Community Foundation to carry out your wishes, supporting such specific organizations as are most appropriate at any given time.
Donor Advised Fund
You want to participate actively in determining appropriate uses for your resources.
As with other types of gifts, contributions to your Donor Advised Fund qualify fully for tax deductibility, or you may carry excess deductions over as many as five additional years. The Foundation encourages you to play an active role in determining the recipients of the income from your gift.
Donor Designated Fund
You want to retain the right to name each and every charitable recipient of your fund, and to enjoy the pleasure of directing your own charitable giving during your lifetime.
Your choice is the Donor Designated Fund, which allows you to distribute the income earned by your fund to the organizations most important to you. After your lifetime, your gift will establish a permanent fund in your name, the income from which will be allocated by the Community Foundation Board of Directors to meet changing community needs.
Supporting Organizations
As the trustee of a medium or large-sized private foundation, you have become frustrated with tax laws that seem to be antagonistic to the growth of your charitable fund, and you are tired of the administrative head2aches. You just want to focus on making worthwhile grants.
You can arrange for your foundation to "lean" on the public charity status of the Community Foundation. Your organization becomes a supporting organization by transferring the assets of your foundation to the Community Foundation. The benefit is you continue to participate in distributing grants while freeing yourself and other trustees from paperwork and administration.
Scholarship Fund
You place a high value on education and want to establish a scholarship in your name, or that of a loved one, so that deserving young people can get an education they might not otherwise receive. However, you are not sure whom to trust to administer your legacy with the impartiality and integrity required.
Community Foundations throughout Florida and the rest of the U.S. have extensive experience administering scholarships that are established for a broad variety of purposes, and their expertise is at the service of the Gainesville Community Foundation. You may choose to allow the Community Foundation the flexibility to address changing educational needs, or, if you like, you can specify from where the community's students are to come and/ or the schools they are to attend. Scholarships can also be for any level of education you specify.
Award Fund
Rather than a scholarship, you would like your gift to be used for an ongoing awards program recognizing outstanding achievement in the arts, sciences, public service, or another area you find particularly meaningful.
Your Award Fund can be created during your lifetime or through a will or living trust. You let us know the particulars of whom and what you would like to honor and we will work to see that this special award in your name continues for generations to come.
Memorial Fund
When a friend or loved one dies, many people find solace in doing something positive, something that will benefit others and carry on the good name of the deceased.
A surviving spouse, a friend, a group of co-workers, or anyone who wishes to honor the memory of someone who has died can establish a Memorial Fund. The fund is named for that person and is dedicated to a fitting field of interest. It becomes a permanent living memorial that will always have great meaning.
Agency Endowed Fund
As a service to both donors and the community, the Foundation can manage endowment funds for nonprofit organizations, and receive donations for the endowments. We welcome and encourage gifts to these funds.
The strongest advantage to nonprofit organizations for establishing an endowment fund is that, by assembling a group of such funds under the Community Foundation umbrella, lower costs can be achieved, thereby making more funds available to the organizations to meet their important charitable goals. In addition, the Community Foundation&rsqu;s Board of Directors provides independent oversight and management of the funds. Nonprofit organizations and their Boards can devote full attention to delivering its services and achieving its own program goals.