phil-teamTypes of Funds

Martin County Community Foundation customizes its services to provide donors with a personalized philanthropy plan. Information and recommendations are tailored to donors’ interests and preferences.

Donors may establish several different types of funds with Martin County Community Foundation. Funds may become active during their lifetime or upon their passing. The type of fund established is determined based on the goals of the tailored philanthropy plan.

Our current services include:

  • Researching potential beneficiary organizations
  • Arranging local site visits to nonprofit organizations
  • Providing information on current and emerging community needs
  • Ongoing oversight of distributed funds and compliance

Agency Funds

These funds are established to support specific charitable organizations identified by the donor. If the named charity no longer exists, another organization with a similar purpose is selected by Community Foundation Board of Directors, with the donor’s or the donor’s successor advisor’s advice.

Agency Endowment Funds

Created by non-profit organizations as a means of protecting their charitable dollars for the future to ensure a source of annual support for their programs and operations. These funds are invested over a long period of time and grant making is limited to a percentage of the annual earnings of the Agency Endowment Fund.

Common Good Fund

Donors trust the Community Foundation with decisions about the charitable use of funds. Contributions to the Common Good Fund are flexible and allow grantmaking that is responsive to emerging and changing community needs.

Community Funds

Community Funds enables donor support of a broad area of need, such as the arts, health, education, elderly and the environment, with the Community Foundation establishing an application process that guides the selection of specific grant recipients.

 

Designated Funds

These funds are established to support specific charitable organizations identified by the donor. If the named charity no longer exists, another organization with a similar purpose is selected by Community Foundation Board of Directors, with the donor’s or the donor’s successor advisor’s advice.

Donor Advised Funds

Donors participate in grant-making by suggesting charitable organizations to receive grants. The Community Foundation serves as a personal philanthropic advisor by assisting donors with receiving and evaluating grant requests, as well as connecting donors with potential grant recipients, needs and projects.

Field of Interest Funds

These funds allow a donor or group of donors to support a broad area of need such as the arts, elderly, education, animal welfare and health, with the Community Foundation playing an active role in the selection specific grant recipients.

Scholarship Funds

Scholarship funds can be designated for any level of education as well as a particular school or field of study. Scholarship may be used for trades and vocational education. Donors may also choose eligibility requirements.  The Community Foundation assists the donors with the application vetting and selection process.

MCCF General Operating Endowment

As the Foundation looks to the future it has a goal of establishing an operational endowment that will provide for the care and tending of the Foundation and allow the Foundation to reduce or eliminate Philanthropic Advisor Fees.