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 mean the most to you through grants and scholarship distributions.
Donor Advised Funds
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.
Learn more about Donor Advised Funds with the Community Foundation
“Recently, I took a year off from full-time work and was without a regular income stream. My Donor Advised Fund meant I didn’t have to stop or slow down my charitable giving and my philanthropic footprint was still visible on the streets of Nantucket! I could still support the community I call home.” Janet Schulte
In 2013, Janet donated stock, which had appreciated significantly, to the Community Foundation to create a Donor Advised Fund. She avoided any capital gains on the appreciated value, which left the entire asset available for charitable gifts.
Do you have a favorite nonprofit organization? You can support one specific nonprofit of your choice forever.
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 Project and Partner 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 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.
Learn more about current Project Funds at the Community Foundation
“Setting up a Field of Interest project fund with the Community Foundation has enabled me to take immediate action to help address the long-term needs of our Island’s natural habitats without having to go through the time consuming process of becoming our separate 501(c)3 charity.” Bob Williams
Bob Williams is part of a group of concerned citizens who opened a Field of Interest Project Fund, the Nantucket Pond Collation Fund. The purpose of this fund is to work with stakeholders to restore and protect Nantucket Ponds. Since 2014 they have made significant investments in the health and safety of Hummock Pond and Long Pond.
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.
Invest in the future of young people and life-long learners. The Foundation manages many scholarship funds, view a complete listing.