Family of Funds
Specific examples of funds that may be incorporated include:
- An Endowment Fund created by a nonprofit organization.
- A named Family Fund created by an individual or family wishing to memorialize a family name.
- A Designated Fund created by a donor to benefit a particular nonprofit organization or organizations in the community. Designated funds can distribute investment income to the organization on an annual basis, creating a stable income stream.
- A Scholarship Fund created by a donor to benefit students of a particular school, geographic region, educational discipline, gender or other designation. Usually scholarship criteria is determined by a scholarship advisory committee.
- A Field of Interest Fund created by a donor to support a particular area such as arts or human services.
- Unrestricted Funds are flexible dollars providing the Board of Directors with the ability to respond to emerging community needs. Visionary philanthropists with broad charitable interests are making sure their gifts last forever.