A gift of $10,000 ($20,000 for Scholarship Funds) or more can establish a component fund at the Community Foundation for Nantucket. These funds support the nonprofit organizations and charitable causes that are meaningful to donors through grant and scholarship distributions.
Donor Advised Funds
Donor Advised Funds provide a simplified giving process, where donors make a single contribution, and then recommend grants to their favorite charities over time. There are several advantages to consider for opening a donor-advised fund with the Community Foundation for Nantucket:
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- Simplified giving: Donor-advised funds offer a simplified giving process, where donors can make a single contribution to the fund and then recommend grants to favorite charitable causes over time. This can save time and effort compared to making individual donations to multiple organizations.
- Tax benefits: By contributing to a donor-advised fund, donors can receive an immediate tax deduction for their contribution, and grants can be recommended on a later date.
- Flexibility: Donor-advised funds offer flexibility in terms of the timing and amount of grants made to charities. Donors can make recommendations for grants whenever they choose, as long as the grants are made to qualified charities.
- Local impact: By opening a donor-advised fund with the Community Foundation for Nantucket, donors can support local nonprofits and organizations that are making a positive impact in our community.
- Expertise: The Community Foundation for Nantucket has expertise in managing and administering donor-advised funds, so donors can be confident that contributions are being managed effectively and efficiently. In addition, we aim to be a resource to support informed gift-giving; we can advise donors on how to best meet specific philanthropic goals.
Overall, opening a donor-advised fund with the Community Foundation for Nantucket can provide an easy and effective way to support local charities and maximize philanthropic impact.
CFN Grant Guidelines and Fund Activity Policy(PDF)
Designated Funds
Designated Funds support specific charitable organizations of the donor’s choice. Do you have a favorite nonprofit organization? You can support specific charitable organizations of your choice forever.
CFN Designated Agreement (PDF)
Field of Interest Funds
Choose an issue that’s important to you – for example, the arts, education, conservation, or health. Distributions from your fund support grants to local nonprofits working in the field you select. You choose an area you are passionate about, and the Foundation selects the best programs and projects to support.
Field of Interest Agreement (PDF)
CFN Donor Initiated Fundraising Policy (PDF)
Field of Interest Project and Partner Funds
Partner funds are established for a specific purpose or category of interest with local
community leadership to pursue their mission. Project funds are established to address
a short-term need for funding to carry out a project that will be a long-term benefit to Nantucket. Groups can establish a fund with CFN to receive charitable support and process costs associated with their mission while their 501c3 application is pending.
In some cases, the Community Foundation establishes Project or Partner Funds to serve as the 501(c)(3) organization for charitable causes so individuals or groups can avoid the time and expense of creating a separate charitable entity.
Field of Interest Agreement (PDF)
CFN Donor Initiated Fundraising Policy (PDF)
Organization Endowments and Organization-Advised Funds
Nonprofit organizations can build resources for a project or focus on creating long-term, sustainable income. The Foundation handles all administrative and investment responsibilities, freeing the organization to pursue its charitable mission. An Organization Fund may be used for specific purposes such as a capital campaign or to build an endowment.
Organization/Agency Agreement (PDF)
Organization/Agency Endowment Agreement (PDF)
Scholarship Funds
Scholarship funds are dedicated to supporting the future of young people and life-long learners in their education. Invest in the future of young people and life-long learners. The Community Foundation manages numerous scholarship funds. Please explore the established community scholarships here.
CFN Donor Initiated Fundraising Policy (PDF)