A named fund may be established with a gift of $10,000 given at once, or over five years. The process is straightforward, the paperwork is minimal and the results are tremendously satisfying. A family, individual or corporation may establish a named fund with a gift of cash, securities or other property. Donors may start with $2,500 and contribute a total of $10,000 within a five-year period. The donor decides the grant-making purpose of the fund and whether the fund principal may be distributed.
Whenever a grant is made from the fund, the name that is selected will be listed in the Foundation's reports as well as in grant award letters. Therefore, donors should give careful thought to their fund's name. Funds usually are named for:
Donor - Advised Fund
This is a service for individuals or families who want to work with CFVI's staff on a tailored giving program. Donors retain the right to recommend distributions.
Distributions from a donor-advised fund may not be made to an individual, regardless of the purpose, or to any organization if not for a charitable purpose.
Field of Interest Fund
A donor establishes a fund for a specific charitable purpose such as education or health research. This fund is one that attracts contributions from several donors and is not tracked with reference to the gift of a particular donor. Specific grant selections are done by the Grants Committee.
Field of Interest Fund- Advisory Committee
A donor establishes a fund for a specific charitable purpose and recommends a person or persons with documented expertise in the field to serve as an advisory committee to the fund.
Nonprofit organizations may transfer assets to establish designated funds, benefiting from the Foundation's administrative services, investment management and permanence.
The donor establishes a scholarship to provide financial aid for students to further their education and determines the specific criteria. The Foundation provides a variety of services to include outreach, selection and award monitoring.
Gifts to Existing Funds
To maximize smaller gifts or participate in ongoing efforts led by others, anyone may contribute gifts of any size to existing grant making funds. The Foundation has created the Angel Fund (a discretionary fund) to attract monetary support for all we do in the Community.
Our donors are all ages, incomes, races, ethnic and cultural backgrounds, spiritual traditions, and interests. Because we pool gifts to maximize return and minimize administrative expenses, even small donations can have a reaI impact in the community.
Gifts that go to work immediately:
Gifts that go to work in the future: MAHOGANY LEGACY
From here on, your philanthropy is nearly worry-free. The Community Foundation of the Virgin Islands takes care of government reporting, grant paperwork, auditing, and accounting. Most important, you will have joined hundreds of others who have perpetuated their giving to benefit the community. It is this legacy that is true philanthropy.
FOR MORE INFORMATION
For more information, or to discuss a program tailored to your needs, please contact Dee Baecher-Brown. E-mail firstname.lastname@example.org Phone (340) 774-6031.