Individuals who wish to pursue a charitable passion, honor a loved one, or establish a family tradition of giving can design a fund to suit their needs. Any of these funds can be established in your name, or in the name of your family, your organization, or anyone you wish to honor. All grants distributed from the fund you establish — today and in the future — are then awarded to charities in the name of that fund. It’s a great way to always be involved with, and remembered for, your community investment.
CFOC offers a variety of fund options, and we are available to discuss the option that best meets your philanthropic objectives among the fund types described below.
- Unrestricted Fund. This is the most flexible type of fund. The fund allows CFOC to make grants that address the most important needs of the community as they evolve.
- Designated Fund. You select one or more specific charities to receive ongoing support in the form of regular grants from the fund.
- Field-of-Interest. You identify a general area of interest (such as children or health or the environment) or you may select a geographical area (city, town, or region) to support. CFOC which will make grants from the fund that match the focus area.
- Donor-Advised Fund. You create a fund from which you (and/or successors you choose as advisors) recommend grants to favorite charities. You suggest how much each shall receive and when. It is a hands-on fund that lets you take initiative in the grant funding process. We are your partner in the process.
Our funds are created with a minimum gift of $10,000. CFOC encourages donors to establish these funds without restriction on the use of the original donation (non-permanent), but we also can accommodate funds that are designed to last and grow in perpetuity (permanent). In the case of permanent funds, the CFOC Board of Directors establishes a spending rate that is in accordance with federal and state rules for endowments.
The CFOC, in cooperation with the Community Foundation of Herkimer & Oneida Counties, Inc., will handle all paperwork, reporting and bookkeeping in connection with the funds that CFOC donors establish.
Have questions?
For more information, please contact us.
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