Types of Funds

Click Here to view a list of funds.

Funds managed by the Davie Community Foundation may be structured in a variety of ways. The Foundation works to accommodate donors’ charitable goals. Donors are encouraged to consult with their tax advisor, attorney, trust officer and/or financial planner before establishing a fund with the Davie Community Foundation.

Following is a brief description of the types of donor funds available through the Community Foundation:

Unrestricted Fund
You can create a named fund with maximum flexibility in responding to the ever-changing needs and opportunities within the community. Grants from your named Unrestricted Fund are selected by the Grant Distribution Committee appointed by the Board of Directors. Your gift of $5,000 to your Unrestricted Fund allows you to support a wide variety of worthy community projects. Your support changes as the community’s needs change. An Unrestricted Fund benefits the community by supporting issues / needs that restricted funds cannot.

The Davie Community Foundation also manages a Community Unrestricted Fund from which grant awards are made annually. Your gifts may be made to this fund at any time to support worthy community projects.

Fees
Unrestricted Funds are assessed a 1.5% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .375 of 1% computed on the previous month-end balance.

Field of Interest Funds
Field of Interest Funds specify a field of charitable interest – such as the arts, programs for children, environmental education, senior citizens, etc – but leave the selection of grant recipients to the Davie Community Foundation Grant Distribution Committee. You can create a fund to support your specific area of interest and still provide flexibility for grants to new organizations and programs. You are recognized in your particular area of interest while supporting a variety of organizations within that field. You can start your named fund with a gift of $5,000.

Fees
Field of Interest Funds are assessed a 1% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .25 of 1% computed on the previous month-end balance.

Donor Advised Fund
You can be a partner in the giving process when you create a Donor Advised Fund at the Davie Community Foundation. You recommend grants from your fund, allowing you to consolidate your charitable giving. You partner with the Foundation in identifying needs and in the grant making process. A Donor Advised Fund may be an option for a private foundation. Your named fund may be created with a gift of $5,000.

Fees
Endowed Donor Advised Funds are assessed a 1% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .25 of 1% computed on the previous month-end balance.

Non-Endowed Donor Advised Fund
Non-Endowed Donor Advised Funds are also available at the Davie Community Foundation. You can create one of these named funds with a gift of $5,000. The funds are not invested in the investment pool and they pay no fee. You may recommend grants up to a minimum required balance of $1,000. Non-Endowed Donor Advised Funds provide you with a variety of options for meeting your charitable desires.

Designated Fund
You can create a Designated Fund with the Davie Community Foundation to support a charity you care about. You provide support for one or more charities during your lifetime and beyond. Your named Designated Fund can be created with a gift of $5,000.

Fees
Designated Funds are assessed a 1% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .25 of 1% computed on the previous month-end balance.

Agency Endowment
An Agency Endowment is established by an agency for support of that agency. The endowment disburses regular income to an organization while allowing the fund to be professionally managed at a lower fee. Once established with a gift of $5,000, contributions may be added to the endowment at any time.

Fees
Agency Endowments are assessed a 1% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .25 of 1% computed on the previous month-end balance.

Scholarship Fund
You will find great reward in helping deserving students accomplish their educational goals. You can create a named Scholarship Fund with broad criteria or more specific requirements for awards. The Community Foundation provides objective, professional management of scholarship funds based upon the criteria you establish.

Foundation Scholarship – named, endowed scholarship funds may be opened with a gift of $25,000. (The Foundation handles all aspects of the scholarship and its administration.)

Community Scholarship – named, endowed scholarship funds may be opened with a gift of $5,000 with the intent that they will grow to $25,000. (The donor handles the application process and selects the candidate. The Foundation administers payment of the award.)

Fees

Foundation Scholarship Funds pay a 1.5% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .375 of 1% computed on the previous month-end balance.

Community Scholarship Funds pay a 1.0% annual fee for their administrative care. The fee is levied each fiscal quarter at the rate of .25 of 1% computed on the previous month-end balance.

Acorn Fund
Just as a tiny acorn grows into a mighty oak, your Acorn Fund will grow in its importance to the community year after year. You can “plant” your named acorn with a gift of $1,000. Once your fund “grows” to $5,000, it may begin to make grants.

Fees
Acorn funds pay a 1% annual fee for their administrative care.