Types of Funds
There are several avenues of charitable giving, varying in terms, involvement and amount required. All options listed below can be named as the donor wishes and are eligible for federal charitable deduction.
Unrestricted Funds
Beneficiary is not specified at time of the gift. 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,” “children” or “the elderly.” Does not limit grants to any particular organization.
Designated Funds
Designated for a specific agency or agencies (i.e., United Way, Symphony, Children’ Zoo).
Donor-Advised Funds
Donor reserves the right to be involved and can recommend grants from the fund they establish. Can be used to establish any type of fund.
Scholarship Funds
Scholarships provide students with an opportunity to further their education or training.
Agency Funds
A separate legal entity affiliated with SCF. Supporting organizations enjoy public charity tax status and are not subject to excise taxes or the rules governing private foundations.
