Types of Funds

The first step in planned giving is to select the fund that best meets your personal approach to giving and charitable intent. The Community Foundation of Northwest Florida can assist you and your financial advisor in customizing a fund that meets your goals and expectations. The following is a list of funds:

Unrestricted Funds

The Community Foundation welcomes unrestricted gifts of any amount. Through the combined unrestricted gifts made by many donors from the community, the Foundation is provided the flexibility to address current and future community needs.

Donor Advised Funds

A simple, powerful and highly personal approach to giving. It offers donors the most flexibility and involvement in their giving by enabling you to recommend specific organizations to receive grants.

  • Simple - The donor can establish a fund with a modest gift to the community foundation
  • Easy To Manage - The donor recommends grants to their favorite charities over a period of time, usually one or more years
  • Tax Timing - The donor receives a charitable tax deduction in the year the fund is established, but grants may be made over a period of one or more years
  • Easy - The donor receives only one tax receipt for all charitable tax giving
  • This type of fund acts much like a private family foundation with less expense, less government reporting and more privacy.

Donor Designated Funds

A fund used to make gifts to one or more charities designated in advance over a long period of time.

  • A donor may create a fund designed to provide long-term financial support to one or more charities that are important to the donor
  • This may be a current gift or made as an estate gift
  • This type of fund is usually endowed, but it is not a requirement

Field of Interest Funds

A fund used to make gifts to a charitable cause designated in advance over a long period of time.

  • A donor may create a fund designed to provide long-term support for a particular area of interest such as education, the environment, the arts, etc.
  • The original donor or others with similar interest may add to the fund with future gifts.
  • This may be a current gift or made as an estate gift.
  • This fund is usually endowed, but it is not a requirement.

Agency Endowed Fund

  • A charitable organization may create an endowment fund designed to provide for future needs through the earnings of the fund
  • The community foundation manages the fund on behalf of the charity
  • By combining the agency funds with a larger investment pool, the charity may realize a higher return