If you wish to create a fund in your name or in the name of someone else, you can establish an endowment fund that meets certain criteria that you establish. Click here to see the various types of funds from which you can select. You may also call POISE Foundation and work with our development staff who can explain how each fund works.
Types of Funds
As a donor, you have many options as to how to direct your donations to address the areas which you are most concerned.
DONOR ADVISED FUNDS permit you to recommend or advise the Foundation on which organizations should receive a grant. This provides you a means to remain actively involved in the management of the fund. However, the Foundation’s Distribution Committee is responsible for making all final determinations. Our staff will perform the due diligence to ensure the organization is a legal charity as well as review its impact on the community. This form of fund is often an alternative to a private foundation. IT can save you both time in establishing a private foundation, reporting requirements and associated fees and taxes.
DONOR DESIGNATED FUNDS allow you to support specific charitable organizations. These funds are for funding consistent and relevant issues. If the charity ceases to exist, the Foundation will direct the funds to an organization or organizations that are closely aligned with the mission and service of the original organization.
FIELD OF INTEREST FUNDS focus on issues of concern. You may suggest grants to organizations that operate in a specific field such as: education, children and youth, health and human services, arts/culture, and urban and economic development. You may also rely on Foundation staff to research and select organizations that are having a great impact on the community within the field of interest.
SCHOLARSHIP FUNDS are designated for the advancement of individuals looking for financial assistance in expanding their education. You may place restrictions on the funds such as granting income to specific colleges, universities or organizations, or setting certain criteria that the student must achieve in order to be eligible.
AGENCY FUNDS are endowment funds created by a nonprofit organization where the grants available are designated for the same nonprofit organization. This fund is common for non profits that establish their own endowment fund. An agency endowment is a method of promoting self-sufficiency for the nonprofit. Once transferred, the assets are owned by the Foundation. However, the nonprofit can still carry the asset on its own financial statements.
NEIGHBORHOOD ASSET FUNDS are endowment funds that are space-based and are organized to benefit the sustainability and growth of a specific neighborhood. These funds are managed by community representatives who will determine where to best invest the resources within their neighborhoods.
UNRESTRICTED FUNDS do not have donor stipulations and the income derived from these can be used for any purpose as deemed by the Foundation that is consistent with the mission and objectives of the Foundation.
ADMINISTRATIVE FUNDS are for donors seeking to help the Foundation defray its normal operating expenses. Income from administrative funds is used to further the charitable purposes of the Foundation by supporting its operating/administrative expenses. The long-term goal of the Foundation is to be self-supportive relating to its operating budget.