Types of Funds
The Community Foundation of Orange and Sullivan offers many types of funds to help donors design a charitable giving plan that’s exactly suited to their needs and interests. A minimum of $25,000 can establish a named fund as a legacy to the donor. A Fund can be opened with a small sum but must grow to at least $25,000 in five years.
For more information about establishing a fund, contact Karen VanHouten, Executive Director at 845-769-9393.
Donor-Advised Fund
A donor advised fund is a fund which may be established by individuals, groups or corporations and allows the donor to make recommendations about distribution of income. The donor may recommend which non-profit groups are to receive grants.
Designated Fund for One or More Organizations
A donor may direct that the income from a designated fund be given regularly to a named, charitable organization or non-profit group. If the charity is no longer in existence or fails to fulfill the purpose the donor intended, the Board of Directors will select another organization with a similar purpose.
Field-of-Interest Fund
A field of interest fund supports causes of particular importance to the donor, such as health-related, education-related, geographically-related funds for specific towns or areas of the county.
Scholarship and Award Fund
A scholarship fund enables the donor to establish a scholarship or special award program to remember a loved one or honor family or friends. A donor may select a particular field of study, select eligibility requirements, and suggest the composition of the selection committee.
Unrestricted Fund
Unrestricted funds give The Community Foundation the greatest flexibility in making grants to respond to the community’s ever changing and most pressing needs. An Unrestricted Fund for the benefit of the Community Foundation of Orange and Sullivan supports the work of the community foundation.
Organizational (Agency) Endowment Fund
Established by nonprofit organizations to provide a stream of income back to the organization. The community foundation handles all administrative and investment responsibilities, freeing the organization to pursue its charitable mission. |
