5 Types of Funds
Unrestricted Funds | Field of Interest Funds | Donor-Advised Funds | Designated Funds | Organisational Endowment Funds | …. and for ever
Introduction
The Community Foundation for Ireland serves a variety of donors who share a common concern - supporting all that is good about Ireland. Through the Foundation, individuals, families, businesses, non-profit organizations, other foundations and Government create permanent charitable funds that help Ireland meet the challenges of changing times. To accommodate the various interests and needs of donors, the Community Foundation for Ireland offers five different types of funds. Regardless of the fund you choose, you or other donors may add to it at any time.
Unrestricted Funds
If your interests are broad and you are primarily concerned with meeting the most urgent needs of the community as they change from year to year, an unrestricted fund is the most effective way to facilitate this. Such a fund allows the Board of Directors full discretion to determine how income from your fund can be directed to the most immediate and pressing challenges facing the community – now and in the future.
Field of Interest Funds
If you want the income from your fund to be dispersed to a specific area of interest or concern, a field of interest fund will achieve your goals. You would use a fund of this kind to support broad areas such as education, the performing arts, or homelessness.
Donor-Advised Funds
If you want to play an active role in your philanthropy, a donor-advised fund enables you to make grant recommendations and provides access to the Community Foundation's professional staff and Grant Review Committee. You can explore new areas of grant-making that interest you or request that we keep you abreast of emerging community needs.
Designated Funds
Through a designated fund, you choose one or more organizations to receive distributions from your fund. If you wish to support an initiative in your community, for example, a designated fund ensures that all grants will be made to that organization in perpetuity. If the benefiting organization ceases to exist in future years, the Community Foundation will direct the income from your fund to another purpose or organisation that matches as close as possible your original intentions.
Organisational Endowment Funds
Not for profit organisations and institutions seeking to protect long term goals and objectives with the support of investment management professionals can establish a permanent endowment fund compatible with the ethos and activities of that organisation at the Community Foundation for Ireland. The Community Foundation for Ireland has a unique remit as
It supports a wide range of community & voluntary groups and activities throughout Ireland.
Its principal focus is on building Permanent Endowment Funds for good, for Ireland
This flexibility has particular appeal for religious and other institutions who wish to ensure their funds can be applied in support of their ethos and activities, in full compliance with Charity Tax Law, without incurring the burden and costs involved in the administration, compliance and regulatory reporting associated with such funds.
