For good. For ever.
Types of Funds
Types of Funds
There are various avenues to chose from when establishing a fund with the Foundation. Below is an overview of the types of funds available:
Unrestricted Funds: Beneficiary is not specified at the time of the gift. The SCF Board has the flexibility to support current priority needs no matter what they are or how the community's needs have changed.
Field-of-interest Funds: Designated for a particular area of interest such as "the arts," or "children," or the "elderly." Does not limit grants to any particular organization.
Designated Funds: Monies designated for a specific agency or agencies, i.e. funds benefit the United Way, the Saginaw Bay Symphony Orchestra, the Childrens' Zoo, or any other agency of choice.
Donor-Advised Funds: Donor reserves the right to be involved and suggest grants from the fund they establish. Can be used to established any type of fund.
Scholarship Fund: Scholarships provide students with an opportunity to further their education or training.
Agency Funds: A separate legal entity which is affiliated with SCF. Supporting organizations enjoy public charity tax status and are not subject to excise taxes or the rules governing private foundations.
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