Types of Funds
You have a choice of four funds
NCCF can help launch you on your philanthropic path, whatever the size of your gift.
Donors—individuals, families or organizations—have a choice of four funds:
A Donor-Advised Fund can be created with just $10,000. With a Donor-Advised Fund, the fund advisor—normally the donor—can recommend which organizations receive grants, subject to approval by the Board of Trustees. Recipients need not be Catholic ministries, but their work must be in accordance with the teachings of the Roman Catholic Church as set forth in Vatican II.
A Donor-Advised Fund is an attractive alternative to a private foundation. Requiring only $10,000 to establish, these funds require no paperwork or startup costs on the part of the donor. And donors derive immediate tax benefits that are greater than those associated with a gift to a private foundation. Gifts of cash to a community foundation are deductible up to 50% of adjusted gross income, versus 30% for a private foundation.
To learn more about how a Donor-Advised Fund works, read about the fund created by George and Marian Creel.
A Donor-Designated Fund allows the donor to support one or more specific charitable organizations as outlined in that fund agreement. If a recipient organization dissolves, the Board of Trustees may redirect grants to reflect the donor’s intent.
A Field-of-Interest Fund distributes money to ministries in specific areas selected by the donor, such as health care or education. NCCF makes distributions from such funds to appropriate organizations.
An Undesignated Fund gives the Board of Trustees discretion over grants distribution. These funds support education, health services, religion, social services, environment or NCCF operations.
