Fund Options

If you are interested in setting up a Fund with the Duluth Superior Area Community Foundation, you have a variety of options. Currently, the Community Foundation has at least 10 different options. Brief descriptions of these options are listed below.

Unrestricted Funds provide the Community Foundation the resources and flexibility needed to address the ever changing needs facing the needs of our region. Donors interested in setting up an Unrestricted Fund can know that their gifts will be thoughtfully and strategically used to respond to community needs, now and in the future.

Unrestricted Family Funds acknowledges the role a family has played in charitable giving in the Community. These funds address the region’s needs as they change over time.

Field of Interest Funds allows donors to establish a fund that addresses an area of interest to the donor, such as the arts, environment, or human services, while relying on the expertise of the Community Foundation to determine the most effective use of the fund.

Donor Advised Funds allow donors to retain the right to make grant recommendations for consideration by our Board of Trustees. These funds best serve those who wish to actively participate in the grant making process.

Designated Funds provide donors the option of choosing specific, named charitable organizations to grant funds to. Should the organization go out of existence, the Community Foundation applies the funds to purposes that closely parallel those designated by the donor.

Organizational Endowment Funds can be created by or on behalf of a nonprofit organization to gain more visibility for the organization and its endowment. Placing an endowment with the Community Foundation also relieves the organization of internal accounting and external reporting, increases opportunities for maximizing investment returns, and ensures long-term growth.

Scholarship Funds provide young people funds to pursue an education they might now otherwise receive. Because scholarships are time consuming and must comply with specific legal requirements, the Community Foundation is recognized as a natural repository for, and manager of, Scholarship Funds.

Acorn Funds provide flexibility for donors who want to make a named gift over a period of time. Acorn Funds consist of a minimum gift of $1,000 per year with a total contribution of at least $10,000—at which point a donor can name the fund. The money goes towards the Unrestricted Endowment.

Temporary Funds allow donors the option of making annual gifts with the entire principal being granted out.

Affiliated Trusts is a private foundation for which the Community Foundation provides scholarship or grant making, administrative and/or investment services on a contract basis.