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How to Become A Donor
Types of Funds
Minot Area Community Foundation serves a variety of donors who share a common concern - supporting all that is good for the people of our area. Through the Foundation, individuals, families, businesses, nonprofit organizations, and even other foundations create permanent charitable funds that help our area meet the challenges of changing times.
To accommodate the various interests and needs of donors, the Foundation offers six different types of funds. Regardless of the fund you choose, you or other donors may add to it at any time.
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"It's not the years in your life that count. It's the life in your years."
Brent
Hovdestad
Memorial Fund
(Donor Advised) |
- Unrestricted Funds
If your interests are broad and you are primarily concerned with meeting the most urgent needs of the community as they evolve from year to year, you may find great satisfaction in establishing an unrestricted fund. This fund allows the Board of Directors full discretion to determine how income from your fund can respond to the most immediate and pressing challenges facing the community, now and in the future.
Field of Interest Funds
If you want the income from your fund to be disbursed to a specific area of interest or concern, a field of interest fund will achieve your goals. You would use a fund of this kind to support general ideals such as education, performing arts, or other area communities.
Donor-Advised Funds
If you want to play an active role in your philanthropy, a Donor Advised Fund enables you to make grant recommendations and provides access to the Foundation's professional staff and Grant Review Committee. You can explore new areas of grant making that interest you or request that we keep you abreast of emerging community needs.
Designated Funds
Through a designated fund, you choose one or more organizations to receive distributions from your fund. If you wish to support a specific charity in your community, for example, a designated fund ensures that all grants will be made to that organization in perpetuity. If the benefiting organization ceases to exist in future years, the Foundation will re-direct the income from your fund to another purpose that is as close as possible to your original intent.
Scholarship Funds
You may endow scholarship awards to help students attend a specific school or college or pursue a particular field of study. Or your fund can benefit students from a particular school or community who require scholarships to further their educations.
Organizational Endowment Funds
If you are active in a nonprofit organization and seek long-term financial stability and the support of investment management professionals, you can establish a permanent endowment fund for that organization.
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