Investing in Your Community Foundation
The Community Foundation of Monroe County serves donors of all kinds – individuals, families, corporations, nonprofit organizations, and private foundations – who have a variety of charitable interests. We play an active role in strengthening and enriching the community in which we live.
By giving through the Community Foundation you can support a wide range of local programs. It’s a highly personalized approach to giving.
Types of Funds
A Field of Interest Fund allows a donor to invest in broad areas, such as health, youth, the arts, services to seniors, economic development or whatever charitable issue the donor chooses.
A Donor Advised Fund allows the donor to have ongoing involvement in the use of gifts. Donors share insight and make recommendations regarding potential grant recipients.
The donor’s suggestions must be reviewed and approved by the Community Foundation Board. A Donor Advised Fund acts much like a private foundation, however it is easier to establish, less expensive to operate and less restrictive in distributions’, payouts and investments.
A Designated Fund allows contributors to specify charities as the recipients of their gifts, thereby providing those organizations with a perpetual stream of income from the fund. Nonprofit organizations may also establish designated, endowed funds with the investment earnings distributed back to the nonprofit.
Scholarship Funds invest in education. Scholarships can support nonprofit preschool through high school education or further the education of graduates of a particular high school, students in a specified field of study, students meeting specific criteria or students enrolled in a chosen institution. We also have scholarships for career development and technical and or certificate opportunities.
Existing funds may be utilized for gifts, or donors may establish new funds in the Community Foundation of Monroe County. Funds are categorized in five areas: Field of Interest, Donor Advised, Designated, Special Projects and Scholarships. There are several ways to establish funds to meet the charitable interests and financial circumstances of individuals, businesses and organizations. A commitment of $10,000 is required to establish a fund, however gifts in any amount are accepted for existing funds. A “named fund” can be established in your name, a business organization name, the name of a person you wish to honor, or the name of a person for whom you wish to create a lasting memory.