Types of Funds
The Community Foundation offers a variety of fund options to help you meet your philanthropic goals. From donor-advised funds (where you engage in active grantmaking recommendations) to unrestricted funds (which rely on the Foundation’s knowledge of community needs for grantmaking decisions), our funds allow you to choose your level of participation.
You can establish a fund using cash, securities, closely-held stock, mutual fund shares, real estate, business interests (limited partnership shares, LLCs, etc.) and many other types of assets. Please refer to our Giving Options page for more information.
Donor Advised Funds
Donor Advised Funds are charitable funds for thoses seeking active involvement in grantmaking. Fund holders – and their successors, if desired – advise or recommend grants from their fund to support nonprofit organizations. Fund holders work with CFMC staff to create a lasting, impactful philanthropic legacy. Read more
Field of Interest Funds
Field of Interest Funds are funds that have been established by the Community Foundation for granting to a broad area of interest rather than a single nonprofit organization in a particular field. Field of Interest Funds are also endowed funds, meaning that they will continue to make annual grants in perpetuity. Read more
Scholarship Funds
Scholarship funds support those who want to pursue education, whether they're high school graduates pursuing a college degree, young athletes seeking assistance with additional training or nontraditional students who are returning to the work force. Fund holders work with Foundation staff to devise selection criteria. Read more
Award Funds
The Community Foundation for Monterey County holds several endowed award funds. Whether honoring loved ones or providing for a specific community or educational endeavor, these funds have been established by generous local individuals and organizations. Read more
Supporting Organizations
Supporting organizations are separate legal entities that are affiliated with the Community Foundation. Established with their own boards of trustees, grantmaking identities, and governance structures, supporting organizations enjoy public charity status and the professional services of the foundation, including staff and administrative support. Read More
Unrestricted General Endowment Funds
Fund holders can support changing community needs by providing unrestricted support. You can create a named endowed fund where the foundation's board of directors will use the funds to address changing community needs.
Designated Funds
You may wish to support a specific nonprofit organization. Once the fund is established, grants are made annually to the organization(s). Foundation staff monitor the organization to honor your philanthropic intentions. With a designated fund at the Community Foundation, you receive professional management and grant monitoring. Nonprofit Organizations can establish endowment funds to provide financial support to their organization in perpetuity and be a conduit for planned gifts. Designated Funds may also be established to benefit capital campaigns.
Stewardship Funds
Nonprofit Organizations can establish endowment funds to provide lasting financial support to your organization in perpetuity or eliminate administration of your existing endowment. Your donors can be sure that the endowed fund's principal will not be spent and can grow over time. The Community Foundation's economies of scale provide your organization the benefits of a diverse investment portfolio and low investment fees that typically come with only very large funds. Your organization's donors can contribute or leave a bequest to the fund through the Community Foundation. We can facilitate even the most complex planned gifts or gifts of appreciated stock or real estate. We handle investment management and the administrative responsibilities related to endowment so that your organization’s staff and volunteer hours are concentrated on fulfilling your mission. Your agency has the option of withdrawing a portion or all of the fund's principal at any time upon written request by the Board of the nonprofit agency.
A Word on Payout
Any trustee of any type of charitable foundation has an inherent duty to use good judgment and prudence in managing the foundation's assets. In California, the basic guidelines for investment management in the non-profit sector are found in the Uniform Prudent Management of Institutional Funds Act (UPMIFA). These guidelines allow managers of charitable assets to take a total return approach to investing, which means that in deciding how much to distribute in grants (or "payout"), they can and should consider current income needs, the importance of preserving and building principal, and the long-term effects of inflation. The Board of the Community Foundation adopts an annual payout for all of our permanent endowment funds with that philosophy in mind and with an awareness of the long-term performance averages for stocks, bonds, and other investment instruments.
For more information contact President/CEO, Dan Baldwin or call 831.375.9712 x115.
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