Donor Advised Funds You don't want to decide anything now? You just know you want to put money into a charitable fund now and decide later how to donate it out? If your answers are "yes," you want to set up a family foundation using the structure of a "donor advised fund" at Kitsap Community Foundation. You might not think of this as a "family foundation." That's fine. Maybe you want to think of it as your "annual giving fund." Regardless of what you call it, the cheapest, easiest, and most effective way to create a family foundation is to set up your family foundation within the Community Foundation. How does it work? Basically, you contribute assets to your fund/foundation whenever you want and as often as you want, we administer every aspect of the foundation, and all you have to do is tell us what organizations you'd like to make donations to and when you'd like to do that. See more details here.(javascript:void(0))

Unrestricted Funds Maybe you just want to make a large gift or leave a legacy for the general support of the community. You don't want to pick and choose particular nonprofits. If that's the case, then an "unrestricted fund" is what you want. We run an annual "competitive grant program" that accepts applications from any nonprofit in the community. Through that process each year, we'll decide the best way to use the income from your unrestricted fund. In this way, you can be assured that your donation will support a wide range of the highest community needs, including education and culture, health, environment, and social and civic services. Download a detailed fund description here.(javascript:void(0))

KCF Operating Fund Maybe you believe deeply in the Community Foundation's work and understand that supporting the Community Foundation is a way to support all nonprofits and, thereby, support the entire community. If that's the case, you can donate to or leave a bequest to the Foundation's own Operating Fund. This is an endowment fund that will exist forever to support the work of the Community Foundation. This is a simple way to leave a gift that will support the entire community forever – a true legacy.

Designated Funds Maybe you are interested in donating to just one or a few specific nonprofits. If that's the case, then you are looking for a "designated fund." With this type of fund, you donate assets into your designated fund now or through your estate and the Community Foundation then distributes those funds to the specific nonprofits designated by you. We can manage this as an endowed fund, which means it will exist forever and we'll distribute income to the designated nonprofit(s) each year. Or we can manage this so that we distribute a particular amount to each nonprofit each year and spend down the entire fund within a certain number of years. Should the designated organization(s) cease to exist or the purpose it served become obsolete over the years, the Foundation has the responsibility to reallocate the fund to a similar organization to continue to reflect you wishes. Download detailed fund descriptions here.(javascript:void(0))

Field-Of-Interest-Funds Let's say you want to donate a sum of money now or through your estate that will support a certain type of charitable activity or area of nonprofit work. For instance, maybe you want your legacy to provide assistance to handicapped people, counseling programs for veterans, support for the arts or education, donations only to nonprofits in North Kitsap, etc. In this case, your are looking for what we call a "field-of-interest fund." With this fund, the Foundation, acting through its staff, Grant Committee, and Board of Directors, will seek out and select the community agencies which best serve the purpose specified by you. Or, if you'd like, you can work with us to decide which particular nonprofits we should donate to each year. We'll run a grant application process and you get to tell us which applicants you want to donate to. We can manage his as an endowed fund, which means it will exist forever and we'll distribute income to appropriate nonprofit(s) each year. Or we can manage this so that we distribute a particular amount to appropriate nonprofits each year and spend down the entire fund within a certain number of years. Download detailed fund descriptions here.(javascript:void(0))

Scholarship Funds These funds enable deserving young people to get the education they might not otherwise receive. We prefer flexibility so we can meet the greatest needs, but you can, if you'd like, specify: either the schools the students are to come from or the ones they are to attend; their course of study or career path; any level of post highschool training, either university, college, or vocational school; whether the scholarship is need-based or merit-based; etc. You can create a scholarship in your name or the name of a loved one. We will ensure the scholarship conforms to the strict standards of impartiality and integrity. You can be involved in choosing the scholarship recipients each year or leave it to our Scholarship Committee. We can manage the scholarship as an endowed fund, which means it will exist forever and we'll award scholarships each year. Or we can manage it so that we distribute a particular amount in scholarships each year and spend down the entire fund within a certain number of years. Download detailed fund descriptions here.(javascript:void(0))

Agency Funds A non-profit organization may establish an endowment fund at KCF with the income restricted to support of that charity. This is similar to a designated fund, and is typically created by the non-profit rather than by a donor. Donors find reassurance in knowing that KCF provides the stability, expertise and credibility to administer an endowment fund in perpetuity. Find out about agency funds here.(javascript:void(0))

Pass-Through Funds What if you want to make a large gift to single nonprofit or a set of nonprofits in a short time-frame? Do you want to put money into a fund and have it all be donated out in a short time-frame? We can help you with that by setting up what we call a "pass-through fund." We would enter into an agreement with you that tells us which nonprofit(s) to distribute your funds to and the timeframe within which we must make the distribution(s). Why would you want to do this? There are lots of reasons why this type of fund can be useful to you: • You can set up a fund for a project or purpose that is charitable in nature and to which you'd like to invite family or friends to donate and receive tax deductions. Your pass-through fund works as a holding place for that money while you're collecting it and, when you're ready, we distribute the funds for the charitable purpose or project. • When you give through the Community Foundation, your gift can be completely anonymous. This helps protect you from unsolicited mailings and emails. • We can be a "charitable bank account" through which you donate to all your favorite nonprofits each year. Benefits are: (1) this generates only one tax deduction receipt each year, which simplifes record-keeping and tax return preparation; (2) you can log into your charitable "account" at any time to see exactly who you've already donated to this year; (3) we send all the checks to the nonprofits; all you need to do is tell us who they want to donate to and we take care of it. • We can handle all types of gifts -- cash, stocks, bonds, mutual funds, IRAs, real estate, cars, art, etc. Many nonprofits can not handle this full range of gifts. And we can take a large, undividable gift (such as a piece of real property), sell it, and divide the proceeds out to numerous nonprofits on your behalf. • We can negotiate and draft a Grant Agreement with a nonprofit to which you want to donate a large sum of money, including multi-year pledges. This gives you added protection to make sure your gift is used appropriately.