Creating A Fund

Anniversaries, birthdays, marriages, graduations, retirements...life is full of special moments that deserve to be recognized and what a better way to do so than creating a celebration fund to honor that moment! Celebration funds can be established for yourself or on behalf of someone else and may be created in conjunction with a planned event. A fund page with photos and special messaging will be provided in order to share the fund and encourage donations from friends, family, colleagues, and others. Proceeds from the fund will be distributed to specific charitable organization(s) of the fundholder's choosing.

Designated funds provide donors with a convenient way to provide your favorite nonprofit organizations with continual income now and forever.

Fundholders work with our team to set up a designated fund with a name and investment strategy of their choosing and receive an immediate tax deduction for gifts they make to the fund.

Grants are automatically sent by the Community Foundation each year as long as the designated organization remains an eligible beneficiary. If the designated beneficiary ceases to exist, our team can identify similar organizations that closely align with the donor’s original intent to be the recipient of the funding.

Discretionary funds allow donors to keep pace with evolving community needs in relevant ways through grantmaking and initiative work, ensuring their contributions have the greatest impact throughout the community.

Fundholders work with our team to set up a discretionary fund with a name and investment strategy of their choosing and receive an immediate tax deduction for gifts they make to the fund.

The Community Foundation uses its knowledge and expertise to award funding to deserving recipients in the fund’s name, helping to drive meaningful change.

Discretionary funds are ideal for individuals, couples, and families who are comfortable with entrusting decision-making to the Community Foundation and want to have the greatest impact on their community for generations to come.

Donor-advised funds are a great tool for donors to be able to distribute charitable dollars over time and with maximum impact. Fundholders work with our team to set up a donor-advised fund with a name and investment strategy of their choosing and receive an immediate tax deduction for gifts they make to the fund.

Advisors make grant recommendations to support organizations and causes that reflect their passions and interests. Grants can be made anonymously if desired and fundholders have access to Community Foundation staff who provide expertise and insight on potential grant recipients.

This fund is ideal for individuals, couples, or families who wish to create a legacy of philanthropy as it allows for children, grandchildren, or other loved ones to be involved in grantmaking or named as successor advisors.

Field-of-interest funds allow donors to keep pace with evolving community needs in their fields of interest, ensuring the greatest impact in these areas are met now and forever.

Fundholders work with our team to set up a field-of-interest fund with a name and investment strategy of their choosing and receive an immediate tax deduction for gifts they make to the fund.

Fundholders select areas of interest, such as education, the environment or a specific geographic region. The Community Foundation awards funding to deserving recipients in the fund’s name that are in line with the donor’s charitable intent.

Field-of-interest funds are ideal for individuals, couples, and families who are comfortable with entrusting decision-making to the Community Foundation and want to have the greatest impact on their community for generations to come.

Many donors choose to leave a bequest to the Community Foundation in their will, an everlasting act of generosity that ensures a donor’s charitable wishes will forever be fulfilled.

Future funds can be established with a statement of intent that outlines the donor’s exact wishes. Donors can also choose to name the Community Foundation as the single beneficiary for bequests to other designated charitable organizations and we can coordinate these one-time disbursements to eligible beneficiaries on your behalf.

In times of sorrow when a friend or family member passes away, making a donation in their name to their favorite causes is a meaningful way to keep their memory alive. Memorial funds can be established at the Community Foundation quickly and easily to conveniently collect all gifts received in a loved one’s memory. During this this time of grief, the Community Foundation will act as a partner, providing gift receipts to those that donate to the fund and facilitating distribution of funds to selected organizations. A fund page with photos and special messaging will be provided in order to share the fund and encourage donations from friends, family, colleagues, and in obituaries. 

Nonprofit agency funds provide agencies with investment and gift administration services that are managed by subject matter experts at the Community Foundation.

Fundholders have access to the Community Foundation’s investment pools, allowing funds to benefit from a diverse portfolio with affordable fees. Fundholders also receive gift administration services, including assistance with large, complex, and planned gifts.

Agencies can access their fund’s balance at any time, with distributions made directly to the organization.

The Community Foundation eliminates many of the investment management and administrative burdens nonprofits face allowing agencies to focus instead on serving the community and fulfilling their mission.

Unlike individual brokerage accounts held with institutional investors where all of the assets belong to the fundholder, agency funds are part of an investment pool in which the system does not break down investment results allocated to each fund by interest, dividends, realized/unrealized. Within a pooled fund structure, pooled returns represent the net return calculated on the aggregate investment return as reported by all of the individual investment fund managers held in the pool. Each fund receives an allocation of the pooled returns based on the fund’s average daily balance.   

Project funds help make local charitable projects possible by offering individuals and entities a platform to raise funds for a specific purpose with a limited timeframe. Distributions are then made to a pre-selected sponsoring organization who is responsible for implementing the project.

Individuals and/or entities can work with our team to set up a project fund with a name of their choosing. Donations to the fund are tax-deductible to the extent allowed by law, with receipting, reporting, and payment handled by the Community Foundation.

Project funds cannot be invested but gift principal is guaranteed ensuring every dollar donated is reinvested into the community.

Scholarship funds provide donors with the opportunity to shape students’ lives and prepare tomorrow’s next generation of leaders. Fundholders work with our team to set up a scholarship fund with a name and investment strategy of their choosing and receive an immediate tax deduction for gifts they make to the fund.

Fundholders select criteria and selection guidelines that allow us to identify deserving candidates. Community Foundation staff work with local schools and Utica Dollars for Scholars to administer and award scholarships.

Scholarship funds are a great way to honor or memorialize loved ones, ensuring that their spirit and passions live on through students that share in their talents and interests.