Choose from hundreds of open funds from families, supporters, and corporate entities who are like you in wanting to support the needs of our region. Better yet, consider starting your own endowment fund today and ensure that your gift is directed exactly where you would like to see impact.
The beauty of working with the Central Okanagan Foundation is that we can structure your gift in any way that suits you and the charities you wish to benefit.
We will help you determine which type of fund fits your needs best. Options include:
Community Fund (no gift too small)
A community fund is a general fund that combines gifts of various sizes from individuals and groups. The income earned on this fund is distributed through the grant application process. Our community funds ensure that future generations can make a difference to our community relevant to changing community needs.
Community Impact Fund
This serves as an “area of greatest need” fund. It was designed to be responsive and meet the needs of granting opportunities, operational expenditures, and other initiatives that benefit our communities. It is non-endowed and at the discretion of the board as requests or situations arise.
Named Designated Fund (minimum $10,000)
A designated fund allows you to benefit a charity of your choice. Each year, the income from your endowment fund is dedicated to that charitable organization exclusively. The fund can be named after your family, your business, or the charity itself.
This fund can be started with $2,000 and a pledge to contribute $2,000 each year for five years until the fund reaches $10,000.
Field of Interest Fund (minimum $10,000)
This type of fund allows you to direct the income from your fund more broadly to cover a particular area of interest rather than any specific organization; for instance, arts, youth, health, education, etc.
This fund can be started with $2,000 and a pledge to contribute $2,000 each year for five years until the fund reaches $10,000.
Donor-Advised Fund (minimum $100,000)
The most flexible of funds, donor-advised fund income can be redirected to different charitable causes each year. This fund provides donors with the same benefits as a private foundation without the administrative costs or onerous reporting responsibilities.
Donor-advised funds also allow for succession planning if you would like to pass the legacy of giving along to your children. Donors always have the option of creating a legacy that will be taken care of through having the foundation’s board of directors take on this responsibility instead of naming a successor.
This fund can be started with $20,000 and a pledge to contribute for five years until the fund reaches $100,000.
Memorial Funds
When a loved one passes away, you want to be comforted by their memory. What better way to remember a loved one forever than to have a fund set up in his or her name to support a charitable cause in the community? Contact us to find out more about setting up a fund to have your loved one’s name live on in perpetuity.
Scholarship Funds
A fund in your name of the name of a loved one can provide student scholarships that benefit youth in your area(s) of interest. We can help you define the scholarship criteria, handle all administrative details, and award scholarships to deserving students in the name of the fund you establish.
Flow-Through Gifts
Sometimes a gift for today (also called a flow-through gift) is most appropriate. Let us know if you want to make an immediate impact by having your gift flowed through to a charity right away.