Donors to La Crosse Community Foundation can create a fund that supports a specific need or area of interest, or one that is multipurpose and flexible. The foundation administers the funds in perpetuity to serve the donors’ interests and respond to community needs. Funds are named by donors often for their family, or in honor or memory of a loved one. Here are the types of funds we offer:
Donor Advised
The most flexible of fund types, donor advised funds allow donors the freedom to recommend grants to any charitable organization anywhere in the world. Donor advised funds are often a less expensive and less complicated alternative to starting a private foundation.
Designated
Donors select one or more charitable organizations or programs to receive annual support from the fund. These funds are commonly established through estate plans as they are a way to continue to provide annual support to the donor’s favorite charitable entities beyond their lifetime.
Field of Interest
These funds enable individuals and groups to pool their charitable giving into one fund that addresses a specific purpose or area of interest. Spending from field of interest funds is advised by the foundation’s board through the competitive grantmaking program.
Scholarship
Scholarship funds allow donors the opportunity to invest in our future leaders by helping lessen the financial barrier to higher education. Each scholarship fund’s criterion is selected by the donor(s), and the foundation’s staff works to ensure student recipients are selected accordingly.
General (Unrestricted)
Over generations, donors have made unrestricted gifts directly to the community foundation to use in addressing changing community needs. Unrestricted gifts are put in the General Fund to gift through the foundation’s competitive grant making process. The board, with assistance from the foundation’s staff, evaluates proposals with an eye toward leveraging resources and provider expertise.
Agency Endowment
An agency endowment is a type of designated fund established by a nonprofit organization for its own benefit. The community foundation has fiduciary responsibility over the funds, and each year the organization can choose to take the spending rate distribution, or continue to grow the fund with its annual earnings. It’s a simple and efficient way to build an endowment to help create sustainability for an organization.
Supporting Organization
A supporting organization is an excellent alternative to a private foundation. Supporting organizations do no pay excise taxes or tax preparation fees, and no minimum distributions are required. Donors maintain personal involvement in grant making, while receiving the favorable tax treatment of a public charity. The community foundation handles grant administration and all reporting requirements.
