12.10.2008 -  Community Foundation of Greater Flint

Types of Endowed Funds, Minimum to Establish and Service Fees

Unrestricted Named Funds
Unrestricted funds are those from which CFGF has complete discretion in grantmaking. They provide flexible permanent resources for the future unknown needs of the community.
$ 7,500 minimum fund balance (1.75% annual fee)

Field of Interest Funds
The donor specifies an interest area, which can be either broadly or narrowly defined. CFGF has discretion to make grants within the donor’s interest area.
$10,000 minimum fund balance (1.75% annual fee)
1.75% annual

Geographic Affiliate Funds
A geographic affiliate fund is an endowed field of interest fund benefiting a designated geographic area within Genesee County. An Advisory Committee of community leaders from within the geographic area are appointed by CFGF Board of Trustees to solicit contributions on behalf of the fund and advise grantmaking.
$10,000 minimum fund balance (1.75% annual fee)
1.75% annual

Scholarship Funds
Scholarship funds support student education at qualified educational institutions. The donor may specify eligibility criteria for selection. A selection committee, which may include the donor, is established to screen applicants and award scholarships.
$50,000 minimum fund balance – endowed (1.75% annual fee)
$20,000 minimum fund balance – non-endowed (1.75% annual fee)
Limit two scholarship grants each year per $50,000 in assets.

Designated Purpose Funds
The donor specifies one or more nonprofit organizations that will be supported by the fund.
$10,000 minimum to establish (Annual fee: 1% of the first $100,000; .5% of the next $900,000; .1% over $1,000,000)

Non-Profit Organization (NPO) Designated Funds
The Board of Directors of a Non-Profit Organization establishes a fund to support the general charitable purposes of the organization.
$10,000 minimum to establish/$50,000 minimum to grant (Annual fee: 1% of the first $100,000; .5% of the next $900,000; .1% over $1,000,000)

Donor Advised Funds
The donor retains an advisory capacity in recommending grants from the fund. The fund is individually named and identified with reference to the donor or donor family members. Donors may be individuals, families, businesses or charitable organizations.
$10,000 minimum fund balance (1% annual fee)

Supporting Organizations
The Foundation offers Type 1 supporting organizations as charitable options to donor advised funds and private foundations.
$5,000,000 minimum fund balance (2 - 5% annual as determined by the Board of Trustees)

For more information please contact Ann Marie Van Duyne, Vice President of Philanthropic Services, at 810.767.8270.