Types of Funds
The foundation is a vehicle for donors to perpetuate their favorite nonprofits. Several types of funds are available to donors during their lifetime or by bequest as listed below.
Unrestricted Funds are the most flexible. They respond to changes in community needs, issues and opportunities and are the capital from which the Gulf Coast Community Foundation Grants Committee awards grants.
Field of Interest Funds are designed for donors who have a particular interest or concern without restricting the grants to a single organization or agency. This type of fund allows the Gulf Coast Community Foundation Grants Committee the flexibility to respond to the donor’s interest by selecting the nonprofit that most effectively accomplishes the donor’s goals.
Donor Advised Funds are the best choice for donors who wish to remain actively involved in recommending grants to charitable organizations. It is an excellent means of teaching family philanthropy.
Designated Funds are established to benefit one or more specific organization selected by the donor to receive their gifts in perpetuity.
Organization Funds are funds for forward-looking nonprofit organizations to establish a fund to support operations or a particular program. By placing funds with the Gulf Coast Community Foundation nonprofits maximize yields and free their boards of time-consuming money management responsibilities.
Private Foundations find it is more cost-effective to transfer their assets to the Gulf Coast Community Foundation. GCCF assumes all administrative and reporting requirements required for the private foundation. This provides investment advantages to the private foundation that become part of the Community Foundation.