Fund Options
The Community Foundation offers a wide range of fund options. Your clients can create new funds or contribute to existing funds. They choose the type of fund that best suits the level of involvement they want, their circumstances and goals for giving. The funds below start with a minimum contribution of $10,000.
Donor Advised Fund (DAF)
A DAF enables your clients to make tax-deductible, charitable contribution and remain actively involved with grantmaking. Your clients may recommend specific grants; they may also consult The Community Foundation staff for guidance on effective grants in their area(s) of interest.
Your clients can select from four different investment option that best supports their charitable objectives when they create a DAF.
- Cash or Cash Equivalents means that the donation is readily available for grantmaking at all times;
- The Intermediate Fund is a portfolio of liquid assets that provide the opportunity for some appreciation with moderate risk and liquidity for grantmaking;
- The Perpetual Fund seeks to preserve the economic spending power of your client’s DAF over time, only a percentage of the fund is available for grantmaking annually;
- The Custom Investment Partnership Program (CIPP) allows your clients to create a DAF, and benefit from The Community Foundation’s extensive grantmaking experience while keeping the assets under your management.
Unrestricted Funds
With this endowed fund, your clients authorize The Community Foundation to use the fund’s income for grants wherever the greatest needs arise.
Preference Fund
Your clients direct The Community Foundation to target grants to a topic or cause, focusing dollars on the most promising organizations working in the field. Your clients can accomplish a broad charitable goal or purpose such as improving education, the region’ cultural life or eliminating hunger.
Designated Fund
Your clients’ favorite organization(s) can benefit from The Community Foundation’s investment stewardship and ability to manage endowed funds by receiving all or a percentage of the income from the designated fund annually. If the organization(s) your clients select cease to exist or change their mission, the fund can be redirected so that it continues to address your clients’ charitable interests.
Designated Scholarship Funds
Scholarship funds based on a field of study, academic achievement, extracurricular activities, financial need, background, or geography can be established for a minimum of $10,000. Your client’s gift can be placed into an endowment that is invested over time, providing a permanent source of capital for a designated school of your client’s choice; helping students from preschool to postgraduate.
Fund Fees
Administrative fees empower The Community Foundation to enhance the impact of philanthropy in Greater New Haven, drive community leadership and offer personalized service and local expertise.
Fees shown below are not inclusive of investment management expenses. Learn more.
| Type of Fund | Minimum Fund Balance* | Administrative Fees |
|---|---|---|
Unrestricted, Preference & Designated |
$10,000 |
1% annually of a fund's market value withdrawn quarterly |
Donor Advised |
$10,000 |
1% annually of a fund's market value withdrawn quarterly; for funds under $10,000, a minimum fee of $75 per quarter will apply unless the fund fits criteria of a Build-A-Fund |
Scholarship |
$25,000 |
If the scholarship requires application and review process, 1.5% annually of a fund's market value withdrawn quarterly; if a scholarship is designated to a single organization, then the designated fund minimum ($10,000) and fees apply (1%) |
* Funds can be built to fund-minimum in recommended period of 3-5 years or other time period per written fund agreement. Administrative fees will not be assessed during the "building" period.
Gifts by credit card: The fund that receives a credit card gift will incur the transaction fee assessed by the credit card processing company; this fee does not reduce the deductibility of the contribution.
Get in touch for more information
Sharon Cappetta, CAP®
Director of Development
203-777-7071
Stay informed and add value to your practice
