Types of Fund
We work with our donors to ensure their donations are used in the way they require (provided their requirements are consistent with our overall charitable purposes). Some are given advice on setting up their own permanent, named fund, a donor wishing to set up such a fund would have three decisions to make:-
"Donor Advised" or "Discretionary"? - With a "Donor Advised" fund, the donor (or his/her nominee) has direct involvement and is consulted about awards made from the fund - the extent of that involvement is tailored to suit the donor's particular requirements. With a "Discretionary" fund, the Community Foundation uses its skill and experience to make awards without prior reference to the donor who then receives regular reports on all awards made from the fund.
"Field of Interest" or "Unrestricted"? - Some donors like to see their fund used to help a particular group of people (e.g. the young, the old, the unemployed) or to benefit people in a specific district. Some use their fund to address a particular issue (e.g. homelessness, disability) or to help those who share a personal interest (e.g. the arts, the environment). Others express no preference and allow their fund to be used by the Community Foundation to provide awards to any of the wide range of charities and community groups it works with throughout Calderdale.
"Endowment" or "Flow Through"? - A donor can decide whether their donation should become part of the Community Foundation's endowment, in which case it is invested and awards are made over a long period of time using the income generated. Or, alternatively, the donation can be used immediately over a shorter time to address urgent needs.
Not all donors wish to create their own fund, some prefer to contribute to an existing fund:-
The Administrative Fund (The Pliny Barret Fund, established by our Founding Director, Chris Harris DL) - This provides the funding to allow the Community Foundation to continue its work promoting, developing and increasing philanthropy in Calderdale.
The General Fund - It is from this fund that we make grants to the wide variety of charities and community groups working throughout Calderdale.
The Individual Fund - Some donors wish to provide direct support to individuals - perhaps those in crisis or talented children and young people needing additional support to take advantage of life opportunities. Awards from our Individual Fund make real differences to people's lives.
If you would like to explore the possibility of setting up your own fund or would like to contribute to an existing fund please contact our CEO, Steve Duncan.