Northern Neighbours Community Foundation Inc.
Types of Funds
Individuals, families, groups and business that wish to establish a fund in celebration of a memory or event can create a “Named Fund”. A minimum contribution of $10,000 is required and may be built over time. When you establish a fund with the Northern Neighbours Foundation, you choose its name and decide how it will work to benefit the community and fulfill your charitable goals. Depending on your wishes, your fund will fall into one of the following categories:
Undesignated Funds: These funds allow the Board of Directors to decide where earning can be used most effectively each year.
Field of Interest Fund: You identify an area or cause for support from the earnings of your fund and the Board of Directors selects appropriate organizations and projects, year by year, to fulfill you intensions.
Donor Advised Funds: You advise the Foundation each year regarding the charitable organization(s) to benefit from your fund’s earnings.
Designated Funds: You specify one or more charitable organizations to be the perpetual beneficiaries of the annual income from your fund.
Bursary and Scholarship Funds: You can set up a scholarship or bursary to provide assistance and encouragement to promising young students challenged by the cost of education.
Administrative Endowment Funds: The earnings go to operations.
You need not establish a separate fund to make a contribution to the Foundation. Many people choose to have their gift directed into the “Smart and Caring Community Fund”, an open, unrestricted fund that allows the Foundation to respond to needs and opportunities within our communities.