Types of Funds
If you wish to establish a fund at the Rivers and Area Community Foundation, you choose it’s name and decide how it will work to benefit the community and area. It may also be a tribute or memorial fund. This will depend on what you wish. Your fund will fall into one of the following categories:
This fund allows the Board of Directors to decide where the funds can be used most effectively in the ever changing needs of the community.
The Leonard and Gladys Burt Family Fund
Field of Interest Fund
A donor identifies an area of interest for the earnings to be directed. Each year the Board of Directors selects appropriate organizations and their projects to fulfill their wishes.
The Bill and Helen Sibbald Legacy Fund
A donor specifies one or more charitable beneficiaries and each year the earnings are directed in accordance with the donor wishes. Adjustments can be made to maintain the donor’s intent should a specified charity change names, purpose or no longer be in existence. Bursaries are scholarship endowments that fall into the Designated Fund category.
The Society of Friends of Rivers Collegiate Institute
Donor Advised Fund
Grants are made in accordance with the donor’s wishes. The agreement can provide the general direction of the grant projects. The Foundation will provide the projects for the donor or their designate to select from for each year.
Each specific endowment fund will fit into one of the above categories.
Other Fund Options
Flow Through Fund
Flow through funds are non- permanent funds that the donor wishes to be passed through the Foundation to qualified charitable organizations. These funds are not invested and the entire amount may be dispersed at any time as specified by the donor. A Flow Through Fund accommodates those donors who wish to immediately impact their community and protect their anonymity for philanthropic work.