An Acorn fund is a starter fund that grows over time (with a maximum of five years to become fully funded). When contributions and earnings reach the minimum donation for the specific type of fund, granting can begin. Minimum of $500 to establish; amount to become fully funded varies.
A Designated Named fund allows donors to support their favorite nonprofit organization, church, or school forever. A single fund can support one or more charities, even specific programs of these charities. If the organization chosen eventually ceases to exist, the Foundation will redirect the fund’s income to another organization with a similar mission. Minimum of $500 to establish; minimum of $10,000 to grant.
Donor Advised Funds allow individuals, families, and businesses to be fully involved in their philanthropy. Donors recommend grants to their favorite nonprofits, while the Foundation handles all the paperwork and administration. These funds offer many of the same benefits as a private foundation without the burden and cost. Plus, many of our fund holders appreciate the opportunity to tap into our knowledge of local issues.
Donor Advised funds are especially useful for donors who want to take a charitable deduction in one year and recommend distributions over several years. Minimum of $1500 to establish; minimum of $25,000 to grant.
(Please note that IRS regulations require the ultimate decision-making authority for the award of the grants to lie with the Foundation.)
Field of Interest
A Field of Interest fund allows donors to allocate their contribution for the benefit of one or more areas of interest. These include, but are not limited to, education, health, social services, the arts, or preservation of resources. Field of Interest funds are very broad in scope, yet encompass many of the essential strengths and needs of the community. Minimum of $500 to establish; minimum of $10,000 to grant.
An Unrestricted fund allows the donor’s charitable giving to have the greatest possible impact now and in the future. The Foundation is authorized to allocate gifts to a variety of programs and services, giving the most flexibility in responding to emerging needs and opportunities in the community. Minimum of $500 to establish; minimum of $10,000 to grant.
Scholarship funds are dedicated to the continued education or training of children or adults. Scholarship programs may be designed to meet certain specifications, such as supporting students in a specific area of study, rewarding academic achievement, mitigating financial need, or supporting students from a particular high school. The Eau Claire Public Schools Foundation supports the Eau Claire Area School District scholarships. Minimum of $500 to establish; minimum of $10,000 to grant. Some restrictions apply.
Other Types of Funds at ECCF
Agency Endowment funds allow charitable organizations to establish endowment funds within the Foundation rather than create and manage such a fund themselves. This type of fund generates a predictable stream of income while the rest of the investment grows into perpetuity, so that the nonprofit can use the earnings from the fund to offset its operations forever. Minimum of $500 to establish; minimum of $10,000 to grant.
Municipal funds are established by municipalities for a specific purpose. These charitable funds can help provide income for operations and maintenance of public facilities and programs. Minimum of $500 to establish, minimum of $10,000 to grant.
Pass-Through funds are short-term funds that support a specific purpose or project that will benefit our community forever. Minimum of $500 to establish; minimum of $10,000 to grant. Some restrictions apply.
A supporting organization (also known as a “supporting foundation”) is a 501(c)(3) charitable organization formed to support the work of another charitable organization. It is a distinct legal entity affiliated with the Eau Claire Community Foundation’s purposes and operations.
If you prefer not to start a fund
You can donate to any fund at the Foundation except for an Agency Endowment Fund. Donations to these two funds at ECCF are particularly appreciated because they support the entire community:
The Community Fund benefits the Eau Claire area as a whole. It enables the Eau Claire Community Foundation to respond to changing community needs and emergencies, to support innovative solutions to community problems, and to enhance the quality of community life. No restrictions are placed on how this fund may be used, leaving the most effective charitable application to the expertise and discretion of the Foundation’s Board of Trustees.
The Operations Fund provides operational support for the Foundation. Support of the Operations Fund makes a lasting impact on the community by providing resources to expand the mission of the Foundation.