Fund types tailored to your client’s charitable goals

Designated Fund

A Designated Fund allows your client to direct giving to one or more specific nonprofits to ensure the organization has reliable, ongoing support year after year. Smaller organizations may prefer a large gift that is given over time rather than all at once, when it can be an administrative burden.

Organizational Fund

An Organizational Fund is similar to a Designated Fund, except in the case of an Organizational Fund, the source of the initial contribution is the beneficiary nonprofit organization itself, not a donor. If your client serves on boards of directors of charities, they’d likely be interested in learning more about Organizational Funds.

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Indeed, if you represent nonprofit organizations and their board members in your practice, it’s helpful to keep in mind that organizations frequently establish Organizational Funds at the Idaho Community Foundation to set aside endowment reserves or rainy-day funds. The team at the community foundation is adept at navigating the specific accounting standards that are unique to this type of arrangement. See the list of ICF Organizational Funds.

Scholarship Fund

Clients can set up funds to support students’ educational pursuits based on the parameters and application requirements they outline with help from the experts at the community foundation.?

Pro tip: If you represent clients who are age 70 ? and older, consider recommending a Qualified Charitable Distribution from a client’s IRA to a fund at the Idaho Community Foundation. With the exception of a Donor Advised Fund, all of the fund types noted above are eligible recipients.

We look forward to working together to discover which type of fund (or funds!) at the Idaho Community Foundation that could be a good fit for your client’s unique charitable giving needs.?

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