Types of Funds
People choose the Pikes Peak Community Foundation as their philanthropic partner because we offer a range of flexible options to serve every donor and almost every interest.
When you create a charitable fund within the Community Foundation, you create an enduring legacy that reflects your charitable values far into the future. The Pikes Peak Community Foundation provides you with several plans to accomplish your goals.
Donor Advised Funds serve as a flexible alternative to a private or family foundation. You can recommend grants to nonprofit organizations from this type of named fund, with the Foundation having fiduciary authority for these distributions. Donor advised funds allow individuals and families to play an active role in their ongoing charitable giving.
Designated Funds are designed to reflect the specific interests of a donor. Grant distributions can be targeted for specific nonprofit organizations, geographic areas, or specific populations.
Supporting Organizations, also called a “foundation within a foundation,” serve as another alternative to a private or family foundation. Call us for more information on this option.
Scholarship Funds can provide students with tremendous opportunities to advance their education.
Memorial or Honorary Funds help establish a way to honor or remember significant people in our lives.
Unrestricted Funds provide the greatest flexibility for the Community Foundation to respond quickly and thoughtfully to community needs as they change over time. Funds can carry your name or a family name in perpetuity.
Charitable Lead Trust
A donor places assets in trust and specifies that a fixed amount or fixed percentage of the value of the trust each year will be paid to charity for a period of years. At the end of the trust term, the principal of the trust passes intact to a named individual beneficiary (or beneficiaries).
Charitable Remainder Trust
A donor places assets in trust and specifies that either a fixed dollar amount or a fixed percentage of the trust’s value will be paid to a beneficiary (usually the donor, spouse, and/or children) for a period of years or for the life of the beneficiary. At the same time, you specify that the remaining principal, at the end of the trust term, will go to charity.
This is a simple contract between the donor and the Community Foundation. In exchange for the donor’s contribution, the Community Foundation promises to make fixed, guaranteed payments for life to one or two annuitants (usually, but not necessarily, the donor). The amount paid is based on the age of the annuitant at the time of the gift in accordance with the Foundation’s regularly updated software for gift annuity rates.
Already have a private or family foundation?
Remember that we can provide a full range of administrative services. Private and family foundations often use community foundation services for grants outside the primary mission of their foundation. In addition, they often create donor advised funds for succeeding generations of family members to give them first hand experience with grant-making skills. Private and family foundations will also transfer part or all of their assets to a donor advised fund in a community foundation because of the tax advantages, convenience, and flexibility the Community Foundation provides.