Establishing a Fund
Establishing fund is easy at the Community Foundation. No matter which option you select, you’ll know that your dollars are at work where you want them to be.
Types of Funds
We offer seven types of charitable funds available to support your giving. Choose the one that matches your personal approach to giving and your charitable intent. Sample fund agreements are available on the right side of this page. Our staff is eager to discuss these options with you and to help you select one that matches your giving needs.
Each type of fund described below requires an opening gift of at least $10,000. Some require larger gifts. Because minimums vary by type of fund, please call us at (901) 728-4600 for more information.
- Donor-advised funds offer flexibility and convenience. You receive the maximum tax benefit in the year you make a gift. You decide when to recommend grants and to what organizations.
- Unrestricted funds always address the community’s highest priorities. You can be assured that your gift will be available for special projects or future needs that cannot be anticipated today.
- Designated funds are for you if you want to support one or more specific nonprofit organizations for a fixed number of years or in perpetuity.
- Field of interest funds are ideal if you wish to support an area of special interest such as education, the arts, health, the environment, animal welfare or a particular geographic area. The minimum size for a field of interest fund is $100,000.
- Supporting organizations provide an excellent alternative to a private foundation for donors with charitable assets of $2 million or more. Although a supporting organization is part of the Community Foundation of Greater Memphis, it is a separate legal entity with its own board. It qualifies for the preferential tax treatment afforded community foundations.
- Scholarship funds provide a permanent source of aid for students. You may designate a fund for a particular school or course of study. The minimum size for a scholarship fund is $25,000.
- Nonprofit organization endowment funds are initiated by the boards of nonprofit organizations to support their work. The minimum for a nonprofit fund is $25,000.