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Types of Funds

1.

COMMUNITY/UNDESIGNATED FUND

Grants address the most pressing current needs as they arise from any sector in the community – arts, education, health, social services, etc.

2.

DONOR ADVISED FUND

Donors who establish donor advised funds recommend grants to the charities of their choice each year.

3.

DONOR DESIGNATED/AGENCY FUND

Donors can choose a specific charity to be perpetual beneficiaries of the annual grant from their fund.

4.

FIELD OF INTEREST FUND

These funds are established to support a donor’s specific area of interest.

Named Funds can be established in the Community / Undesignated Fund and in established Agency Funds with a donation of $5,000; however, a Donor may create a Named Fund with an initial gift of less than $5,000 and gift the balance over a period of time whereby the Fund will be activated when the minimum amount has been received.
A Donor may choose an appropriate name for the fund. The fund may be named:
  • Using the Donor’s name,
  • Using the name of someone whom the Donor wishes to honour, or
  • Be descriptive of the Fund’s purpose.
Other gifts will become part of the Community Funds.

Community / Undesignated Fund

A Community Fund (unrestricted) provides the Foundation with the flexibility to decide where the earnings can be used most effectively each year to meet the community’s needs as they change from generation to generation.

In order to establish a named Community Fund, a gift of $5,000 is required. However, a Donor may create a Community Fund with an initial gift of less than $5,000 and gift the balance over a four-year period. The Fund will be activated when the minimum balance has been received.

Donor Advised

Donor Advised Fund permits a Donor (or others designated by the Donor) to make recommendations each year to the Foundation’s Board of Directors regarding that fund’s charitable distributions. A Donor’s suggestions as to the grant recipients are considered, subject to approval by the Brant Community Foundation.

Creating a Donor Advised Fund is an alternative to establishing a private foundation. A Donor Advised Fund allows a Donor to be involved in the grantmaking process without taking on personal responsibility for the fund’s administration, investment, monitoring and reporting requirements.

In order to establish a Donor Advised Fund, a gift of $50,000 is required. However, a Donor may create a Donor Advised Fund with an initial gift of less than $50,000 and gift the balance over a four-year period. The Fund will be activated when the minimum balance has been received.

Donor Designated / Agency Funds

Donors may specify one or more charitable organizations or institutions to be perpetual beneficiaries of the annual grants from their fund.

This type of fund allows the Donor to specify that the income generated by this fund will be used to support those named charitable organizations and only those organizations named.

In order to establish a Donor Designated/Agency Fund, a gift of $10,000 is required. However, a Donor may create a Donor Designated/Agency Fund with an initial gift of less than $10,000 and gift the balance over a four-year period. The Fund will be activated when the minimum balance has been received.

Field-of-Interest

Donors may request that the Foundation direct the grants from their fund to a particular area of interest; i.e. the performing arts, children at risk, seniors, etc.

A Field of Interest Fund allows a Donor to designate a preference for supporting a certain interest or cause in a general manner without designating the actual recipient organizations or programs through which such charitable purposes would be served.

In order to establish a Field of Interest Fund a gift of $25,000 is required. However, a Donor may create a Field of Interest Fund with an initial gift of less than $25,000 and gift the balance over a four-year period. The Fund will be activated when the minimum balance has been received.