Charitable giving is personal, and the way you give matters just as much as the causes you support. Choosing the right type of Fund can help you organize your giving, meet your goals, and create lasting impact in the community.

Whether you are establishing your first Fund or adding another to support new priorities, understanding your options can help you make confident decisions that reflect what matters most to you.

1. Donor Advised Fund

• A Donor Advised Fund offers flexibility and simplicity for donors who want to support a wide range of nonprofits over time. You can contribute cash, stock, or other assets when it works best for you and receive a charitable tax deduction in the year of the gift.
• From there, you can recommend grants to IRS-qualified charities on your own timeline. You may also choose a name for your fund and decide how much personal information you want to share with the organizations you support.

2. Designated Fund

• A Designated Fund allows you to provide ongoing support to a specific nonprofit that has played an important role in your life or community. This type of Fund creates steady, predictable funding through regular distributions or grants made as needed.
• Because the Community Foundation stewards the Fund’s assets, a Designated Fund offers long-term stability for the organization it supports. This option can also help donors combine multiple years of giving into one tax year while ensuring continued support over time. Donors age 70 ½ or older may also use Qualified Charitable Distributions from an IRA to support a Designated Fund.

3. Scholarship Fund

• A Scholarship Fund helps students pursue education and training beyond high school. Donors can support students with financial need, academic achievement, career goals, or ties to a specific school, field of study, or community.
• Scholarship Funds can reflect personal values, honor a loved one, or strengthen the local workforce. The Community Foundation manages the application and award process, ensuring fairness, consistency, and long-term sustainability.
• Donors age 70 ½ or older may also use Qualified Charitable Distributions from an IRA to support a Scholarship Fund.

4. Community Impact Fund or Field of Interest Fund

• Community Impact Funds give the Community Foundation flexibility to address the most pressing needs in the community, both now and in the future. These Funds allow resources to respond to emerging challenges, new opportunities, and long-term priorities as they arise.
• A Field of Interest Fund works in a similar way but focuses on a specific area of need, such as education, the arts, health, or emergency assistance. Donors age 70 ½ or older may support both Community Impact Funds and Field of Interest Funds through Qualified Charitable Distributions.

5. A Portfolio Approach to Giving

Many donors choose to establish more than one type of Fund over time. A combination of Funds can create a balanced approach to philanthropy, allowing you to support immediate needs, plan for the future, and respond to changing priorities.

Wherever you are on your charitable giving journey, the DeKalb County Community Foundation is here to help. Our team provides guidance and personalized support to help you achieve your giving goals.

We invite you to connect with us to explore the Fund options that best fit your goals. To learn more or begin the conversation, contact Executive Director Dan Templin at 815-748-5383 or dan@dekalbccf.org.

Philanthropy comes in many forms, and every act of generosity makes a difference. In these Generosity CORNER articles, we’ll share ideas for giving, smart strategies for maximizing your charitable impact, and tips on tax-wise giving, legacy planning, and family philanthropy. Whether you’re a charitable estate planning advisor, a longtime donor, or just beginning your giving journey, this space is for you. Inform and inspire!

Together, we can make a lasting difference—one generous act at a time!  Learn more about Generosity Across Generations.