- There are many reasons why individuals and families, corporations and charities set up funds with us.
- Common questions include how to establish a legacy fund (see Types of Funds), what you would like to support, how you would like to give (see Ways to Give) and when to give – now, over time or later, through your estate.
- You may establish a fund in your own name, in the name of a loved one, or as a reflection of the fund’s purpose.
Types of Funds
Your gift can address a broad range of present and future needs. You can have as much or as little involvement as you wish.
We offer a variety of ways to meet your charitable goals through our funds:
- Donor Advised Funds
You have ongoing involvement with your gift. Working with our professional grant-making staff, you can identify ways to use available earned income from your fund to address the issues and needs you care about most. This is our most common type of fund.
- Donor Designated Funds
You can direct your gift to a specific charity(ies). Our staff manages the distribution of funds.
- Field of Interest Funds
You can target your gift to address needs in an area of community life that’s important to you. When making a gift you identify an area of personal interest and we will award grants to charitable organizations that are making a difference in the area you select.
- Community Fund/Unrestricted Funds
These funds are not tied to any specific charity or area of interest by the donor; instead, donors enable the Board of Directors to determine, through research and consultation, where grants should be directed to meet the community’s more pressing needs. Donations of any amount are welcome. A donation to this fund gives the Foundation the greatest flexibility. The earnings are used for our annual Burlington Community Fund Granting Program.
- Term Funds
Your fund goes to work in our community today. Term Funds allow donors to gift a non-endowed contribution from which donors may advise on annual granting for more immediate needs. The capital and income must be used in less than 10 years.
What is an endowment fund?
Establishing an endowment fund is like opening an investment account for our community. Your contributions are permanently invested and a portion of the interest is distributed annually to local registered charities. You can choose how the money will be directed to the community. Or you can let our experts decide where it will do the most good.
You have three choices of fund.
- You can set up your own fund.
- You can support an existing fund.
- You can support the Burlington Foundation directly;
- through the Burlington Community Fund, or
- through the Burlington Community Foundation Impact Fund.
If you’re interested in learning more about setting up a fund, please contact us.
