How to Establish a Fund
There are primarily two types of funds:
- Endowed funds have a portion that is never spent and primarily earnings are used for grants.
- Non endowed funds are used for sponsored temporary purposes.
There are basically three forms of funds:
- Field of Interest funds have many donors and request grant proposals from the public for a described purpose. An advisory committee reviews the applications and recommends the grants for funding.
- Agency Funds funds seek many donors to support an organization’s purpose or mission; the grantee is the organization.
- Donor Advised funds have one source of funding and make grants to various 501(c)3 and governmental organizations.
If you have an interest in providing qualified charitable funds to benefit the counties of Antrim, Benzie, Grand Traverse, Kalkaska and Leelanau, schedule an appointment with the Executive Director to discuss setting up a fund. Contact the foundation offices at 231-935-4066 or at info@gtrcf.org.
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