Types of Funds

There are several avenues of charitable giving, varying in terms, involvement and amount required. All options listed below can be named as the donor wishes and are eligible for federal charitable deduction.

Agency Funds

A separate legal entity affiliated with SCF. Supporting organiza­tions enjoy public charity tax status and are not subject to excise taxes or the rules govern­ing private foundations.

Designated Funds

Designated for a specific agency or agencies (i.e., United Way of Saginaw County, Saginaw Bay Symphony Orchestra, Saginaw Children’s Zoo).

Donor Advised Funds

Donor reserves the right to be involved and can recommend grants (subject to verification by SCF Staff and approval by SCF Board of Directors) from the fund they establish. Can be used to establish any type of fund.

 

Field of Interest Funds

Designated for a particular area of interest such as “the arts,” “children” or “senior citizens.” Does not limit grants to any particular organization.

Scholarship Funds

Scholarships provide students with an opportunity to further their education or training.

Unrestricted Funds

Beneficiary is not specified at time of the gift. SCF Board of Directors has the flexibility to support current, priority needs no matter what they are or how the commu­nity’s needs have changed.