Types of Funds
Donor Advised Funds offer a flexible and inexpensive way of organizing charitable giving. Donor advised funds afford many of the advantages of a private foundation but with greater tax benefit, fewer restrictions and minimal administrative headaches. Each year, you decide which nonprofits and programs to support, with optional advising from impartial Community Foundation staff that know Snohomish County nonprofits well. Example
Designated Funds provide long-term support your favorite nonprofits. The process is simple. The Community Foundation invests the funds and issues annual grants to the nonprofit(s) of your choosing. If a charity significantly changes its focus or goes out of business the Foundation adjusts disbursements to ensure that the fund carries out the donors’ original intent. Example
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Scholarship Funds are an investment in the future. Scholarships can benefit graduates of a specific high school, students majoring in a particular subject, or students with specific needs. The criteria is determine by the donor. Recipients must be chosen by an impartial committee and awards will be dispersed to the educational institution. Example
Nonprofit Agency Endowments are started by nonprofits and benefit from the investment expertise at the Community Foundation. The annual distribution from the fund creates a stream of income to the organization for its own use. Find more information here
Community Impact Funds support programs in specific areas: Education, Arts and Culture, the Environment, Health and Wellness, and Human Services. Anyone can give any amount to support work done in these areas. Grant applications are reviewed by community volunteers who then make grant decisions. Grant criteria changes as community needs shift.