Types of Funds
The FM Area Foundation offers a variety of funds, providing you with flexible options to help your clients meet their charitable goals.
Donor Advised Fund
The donor actively participates in the grantmaking process by recommending grants from their fund to charitable causes. Donors can learn about nonprofits and community needs through the FM Area Foundation staff, if they so choose.
The donor designates one or more specific charitable organizations to receive grants for a set period of time or in perpetuity.
Field of Interest Fund
The donor creates a fund to support a specific area of interest while relying on our expertise to determine the specific organization.
The donor creates a fund to support individuals pursuing training or education. Donors work with foundation staff to develop selection criteria.
Donors who establish an unrestricted fund set no restrictions on the use of their gift to enable the community foundation to make the greatest impact possible. The FM Area Foundation distributes these funds through its community grant rounds, which is administered by a special grants committee and approved by the Board of Directors.
A nonprofit organization initiates a fund to permanently support the operations of the organization.
An alternative to a private foundation, a supporting organization is a separate entity under the umbrella of the FM Area Foundation. Established with their own board, grantmaking priorities, and governance structures, supporting organizations enjoy public charity status while the FM Area Foundation provides administrative support.
Private Foundation or Community Foundation?
For advisors with clients who are considering establishing their own private foundation, you may want to advise your client to consider a less expensive alternative. Donors can set up a fund with the FM Area Foundation as a Supporting Organization or Donor Advised Fund. This gives them control over the fund and allows them to leave much of the paperwork and administration to us. Your client can then focus on the more meaningful aspects of charitable giving.