Many donors – individuals, families and businesses – wish to establish named funds with Halstead Community Foundation. An endowment is a fund in which the principal is invested in perpetuity and only the net income is distributed annually. This allows your gift to benefit our community forever. We also support donors in establishing expendable and special project funds.
Establishing a fund allows you greater flexibility as to how you would like your gift designated and which organizations or causes you want to support. There are several options for donors wishing to start a new fund:
Donor Advised Fund – Donor selects the eligible charitable recipients each year.
Donor Designated Fund – Donor specifies eligible charitable recipients and the Foundation will make annual grants to those charities forever.
Field of Interest Funds – Donor designates a specific cause or geographic area for grant-making without having to name a specific organization. The Foundation Board will annually make grants in the field of interest that you specify such as health, education, arts, etc.
Organization Fund – Provides our local nonprofit entities long-term support through the creation of endowed funds that help sustain their ongoing efforts in our community.
Impact Fund – An unrestricted community grant fund that supports present and future needs in our community. A local selection process determines eligible grant recipients from this fund.
Scholarship Fund – Assists in the pursuit of higher education and continued learning for our local students and faculty.
Unrestricted Fund – Allows the foundation board to be flexible and proactive in meeting the changing needs of the community.
Administrative Funds – Allow us to continue to serve you with funding that supports our operation, outreach and education.