A gift of $10,000 ($20,000 for Scholarship Funds) or more can establish your named fund at the Community Foundation for Nantucket. The income from these funds is distributed annually as grants and scholarships, supporting the nonprofit organizations and charitable causes that mean the most to you.
Simplify your ongoing charitable giving. You will receive one income tax charitable deduction in the year your gift is made, but you can recommend grants from your fund at any time.
Do you have a favorite nonprofit organization? You can support one or more specific nonprofits of your choice forever.
Choose an issue that’s important to you – for example, the arts, education, conservation or health. Distributions from your fund support grants to area 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 Project Funds
Project Funds can be used by organizations that are in the process of filing for charitable status. 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 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.
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.
Invest in the future of young people. Your fund can broadly support the Foundation’s scholarships for Nantucket students, or you can specify a particular school or field of interest.
Give to a Named Fund
CFN helps connects donors with those in need on Nantucket. One of the ways we accomplish this is through targeted named funds.