Endowment Funds and Spend Down Funds

This is a general Fund that gives the Foundation the greatest flexibility in awarding Grants to charities. This type of Fund is not tied into any specific charity or area of interest, allowing the Foundation to respond to the immediate and changing needs of the community.

Donor advised funds enable a donor to have ongoing participation in the selection of charities that will benefit from their gift. Donors can choose this type of fund instead of creating a family trust or private foundation. Existing foundations are able to transfer their assets to the foundation to achieve higher returns or reduce administrative costs while still remaining involved in allocating grants. A minimum donation of $10,000 is required to open a donor advised endowment fund.

This type of Fund gives the donor the opportunity to specify, at the time the Fund is established, which particular charity or charities they would like to support in perpetuity.

Much like the Community Unrestricted Endowment Fund, the Field of Interest Endowment Fund allows donors to identify an area of interest they would like their donation to support (i.e. Arts & Culture, Community, Environment, Healthcare & Mental Health, Seniors, Sports & Recreation or  Youth & Scholarships) and the Foundation’s Grants Committee will work to select worthwhile projects to support.