TYPES OF FUNDS
The Community Foundation offers a number of types of Donor Established Funds described below. Our staff are happy to help work with you to ensure you start the right kind of funds to match your needs, interest, and preferences.
Donor Advised Fund
Donors stay involved in their philanthropy, making recommendations on how to spend the earnings each year. This is the most flexible of all our funds. Donors frequently involve other family members and generations in the family tradition of philanthropy. A donor-advised fund is like having your own family foundation without the administration and expense of incorporating a new 501(c)(3) organization.
Designated Fund
Donors select a specific nonprofit organization(s) at the time the fund is set up. The designated organization(s) automatically receive the annual earnings on the fund to support general operations, a specific program or other purpose specified by the donor.
Field of Interest Fund
Donors articulate the area of impact for their funds (e.g., children at risk, arts and culture) but leave annual grantmaking decisions to the staff of the Community Foundation.
Scholarship Fund
Donors establish the criteria and guidelines for a fund to provide financial support to students pursuing college or continuing education after high school.
Nonprofit (Agency) Fund
These funds are established by a nonprofit organization to provide an annual income stream for operations.
Learn more about our Agency Endowments here.
Local Community Funds
Also known as Geographic Area Funds, allow an individual donor or group of people living in a certain town or county can establish a fund to support a wide range of charitable organizations benefiting that community.
To learn more or to donate to a Local Community Fund, click here.
Community Grants Fund
Provides discretionary funds so that our Community Foundation can respond to unmet community needs. The Western Colorado Community Foundation’s goal is to build our Community Grants Fund to $12 million; this size endowment will provide over $500,000 a year to distribute in our communities.
To learn more or to donate to our Community Grants Funds, click here.
Community Initiatives Funds
Western Colorado Community Foundation manages three initiative funds; Hunger, Conservation, Outdoor Recreation, and Environment (CORE), and YouthStrong. WCCF works on building partnerships, developing funding strategies, creating learning communities, and convening leaders around these community issues to proactively increase giving and support to non-profits with capacity in these areas.
To learn more, or to donate to these funds, visit our Community Initiatives Pages.
A donor-advised fund allows us to enjoy involving our daughters and grandchildren in this family activity of grantmaking…without the legal and administrative requirements and costs of incorporating and managing a separate 501(c)(3).
If you have questions on these funds, or how to become a donor, please contact us.
CREATING A FUND IS SIMPLE
Reach Out
Reach out to WCCF staff to determine the best type of fund to accomplish your individualized charitable goals.
Consult
Consult with your professional advisor — CPA, Estate Planning Attorney or Financial Advisor— on the best asset to give as a charitable gift to establish your fund.
Decide
Decide on the name of your fund, and work with WCCF staff to complete a fund agreement.
Make a Gift
Make a gift to the Western Colorado Community Foundation to establish your fund. WCCF can accept a wide variety of assets as your gift — cash, appreciated securities, retirement assets, real estate, gifts through a will, etc. You receive a tax deduction in the year your gift is made to your fund.
You're Ready
You’re ready to start making a difference, and WCCF staff members are here to help you.
