Types of Funds - Designated Fund

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Donors who wish to support a specific agency or cause can establish a designated fund. If the original charity ceases to exist, becomes obsolete or is unable to perform their charitable purposes, the Foundation Board of Directors is able to redirect the funds to an organization providing similar services without the cost of expensive legal action.

Many nonprofit organizations establish an endowment fund with us in order to grow assets to meet both current and future needs. They look to our Board for strong investment oversight services and ask our staff to manage all of the administrative details of the endowment. This can provide a relatively constant source of annual income and help maintain their mission in perpetuity. It also frees the nonprofit to focus on what they do best in the community.

Donors can create a new Designated Fund or contribute to an existing one.

Create a Fund in 3 Easy Steps:

  1. Think about the charitable impact you wish to have – forever.
  2. Create a name for your legacy, such as the Jane Smith Endowment for Music Education. 
  3. Call the community foundation to set up your endowment.

Sample Agreement
For more information on establishing a fund at the Peninsula Community Foundation contact Hal Brauer  757.327.0862 / E-Mail