Types of Named Funds

Individuals, families, groups and business that wish to establish a fund in celebration of a memory or event can create a “Named Fund”. A minimum contribution of $5,000 is required and may be built over time.

When you establish a fund with the Foundation, you choose its name and decide how it will work to benefit the community and fulfill your charitable goals. Depending on your wishes, your fund will fall into one of the following categories:

Undesignated Funds:
These funds allow the Board of Directors to decide where earnings can be used most effectively each year. VIEW LIST OF FUNDS

Field of Interest Fund:
You identify an area or cause for support from the earnings of your fund and the Board of Directors selects appropriate organizations and projects, year by year, to fulfill your intentions. VIEW LIST OF FUNDS

Designated Funds:
You specify one or more charitable organizations to be the perpetual beneficiaries of the annual income from your fund. Designated funds may be of particular interest to a charitable organization wanting to set up an endowment fund to ensure its financial stability in the long term. This type of designated fund is referred to as an Agency Endowment Fund. VIEW LIST OF FUNDS

Bursary and Scholarship Funds
You can set up a scholarship or bursary to provide assistance and encouragement to promising young students challenged by the cost of education. Funds are distributed to the institution on behalf of the student. VIEW LIST OF FUNDS

Donor Advised Funds
A minimum contribution of $25,000 (may be built over time)
You advise the Foundation each year regarding the charitable organization(s) to benefit from your fund’s earnings. VIEW LIST OF FUNDS

Administrative Endowment Funds
The earnings go to operations. VIEW LIST OF FUNDS

The gift that keeps on giving!