If there is not a fund already established in your area of interest or fund choice, you may choose to start a fund.
SPCCF establishes new funds with a minimum of $5,000. Once a fund is established, additional amounts – large or small – can be donated to the fund to help it grow. Grants from that fund begin when the fund balance is large enough to generate sufficient income such that annual withdrawals of an appropriate size can be made. For example, a fund balance of $25,000 typically generates $1,000 in income per year.
An Organizational Endowment Fund provides a donor the opportunity to provide long-term financial support to organizations of personal importance.
An endowment produces income for charitable purposes. A typical endowment fund distributes only the income generated from investments. Its principal will never be distributed. A typical distribution rate from a foundation endowment fund is 4% per year, and depends on general economic conditions.
An endowment fund is likely (though not, of course, certain) to remain permanent as long as principal is never invaded, and as long as the distribution rate reflects the long-term growth patterns of the fund's investments.
Designated funds are donations made via the SPCCF to local organizations in specific areas of interest or for specific purposes, to assist those organizations. Each year, it is the duty of the board to ensure these funds are distributed to organizations based on the intentions of the donor. Organizations are not specified, but areas of interest are specified for these funds.
Examples of these areas of interest funds include: children's health, low-income housing, art and music programs, wildlife education, or recreation. These are just a few examples; the full list for potential area of interest funds is much longer and covers many aspects of community life.
A Donor-Advised fund is a personal approach to giving. Each year, the donor advises the foundation that a distribution be made to a specific nonprofit organization, according to that donor's interests. Each year the foundation contacts the donor to determine their area-of-giving interest for that year.
Donor-advised funds are especially suited to donors with a variety of charitable interests and an interest in staying involved with philanthropy. They are an attractive alternative to establishing a private foundation, which is typically less efficient and more costly to set up and operate.
A bequest is a gift of personal or other property made under the terms of a Last Will and Testament, Revocable Living Trust, or Irrevocable Trust. This category of donation provides a legacy of giving in a donor's memory, according to the donor's interests and wishes. SPCCF works with a donor and their attorney to ensure the donor's wishes are carefully and legally outlined.