A named fund at the Bucks County Foundation enables you to channel your philanthropy in multiple directions from one source. Any individual, family business, private foundation, or organization can create a fund at BCF by making a contribution of cash, stocks, bonds, real estate, life insurance, or mutual funds.
Types of Funds
1. Unrestricted / Discretionary Funds are established by donors who wish to address the current and changing needs of the community by allowing the Distribution Committee of the Foundation to direct the funds through a competitive grant process.
2. Area of Interest Funds are those for which the donor has defined the general areas for support (animal welfare, social services, the arts, environment, education, etc), toward which the Distribution Committee will direct funding.
3. Donor Advised Funds allow the donors to advise the Distribution Committee how their annual contributions will be distributed. The donors’ charitable priorities may change from year to year.
4. Donor Designated Funds are created by donors who have identified specific organizations or programs to receive annual grants in their names.
5. Temporary/Pass-through Funds are those which are established with the expectation that the entire body of the fund will be used within a specific period of time, usually for a minimum of ten years.
6. Agency Endowment Funds are established by non-profit organizations to provide for their financial future. Generally only the income is disbursed annually, however, in emergency situations the agency may choose to use part or all of the principal if approved by a majority vote of their Board.
7. Scholarship Funds provide financial assistance to local students seeking higher education. Scholarships can benefit students from a specific high school or attending a certain college, from disadvantaged backgrounds, or those planning specific majors.
Planned gifts are those deferred to a future date and may require the assistance of professional advisors. Donors may make planned gifts to the Bucks County Foundation through bequests, trusts, life insurance policies, and charitable gift annuities. The most common form of a planned gift is a simple bequest, made when the donor includes the Bucks County Foundation in his or her will. The donor may bequeath a gift in any amount to the Foundation in general, or to establish a fund of the Foundation.