Types of Funds
Donor Advised Funds
Donor Advised Funds allow the donor to recommend grants to specific nonprofit organizations (must be a public charity and subject to approval by the Community Foundation of Greater Flint’s Board of Trustees). The original donor may also determine what the purpose of the fund will be after the donor’s death, or may appoint future advisors (successor advisors) who will advise on its distribution annually.
- Donor/advisor recommends grants to any 501(c)(3) in United States, approval required by the Community Foundation of Greater Flint Board
- Grant checks cut upon request
- Ability to distribute grants from income, to minimum required fund balance
- No minimum payout
- Expertise of the Community Foundation of Greater Flint staff available for consultation
Read Don Brown's Story
Field of Interest Funds
Field of Interest Funds provide grants within the overall direction of the donor’s areas of interest. This type of fund allows donors to support a broad area of concerns. For example, a donor may be interested in having the fund address grantmaking that benefits children, the arts, or the elderly.
Specific charities would not be named, but all grants from the fund would be directed toward programs that address the field of the donor’s interest within Genesee County.
Read Edith Prunty Spencer Story
Designated Funds
A Designated Fund allows you to support one or more specific charitable organizations for a set period of time or in perpetuity.
The organizations you designate are monitored by our team to ensure your grant dollars are used in an optimal manner and the manner which you intended. Should the designated organization, or the purpose it served, cease to exist or change, the fund’s income is redirected to maintain your charitable intent.
With a designated fund, you don’t have to worry about remembering to make grants each year. Your fund is set up to award annual grants to your favorite organizations.
Read Almeda Hunter 's Story
Scholarship Funds
Scholarship Funds benefit students throughout Genesee County. Most frequently, donors establish funds that assist high school seniors seeking post-secondary education. There are also funds that focus on college, graduate or technical school students who are pursuing specific areas of interest. The donor may specify eligibility criteria for selection. A selection committee, which may include the donor, is established to screen applicants and award scholarships.
For 31 years, Sophia Waldbauer loved teaching and coaching students at Bentley High School. She was active in her church, was a good neighbor, and had concerns about the future.
Read Sophia Waldbauer's Story