Types of Funds

Charitable giving should be easy and enjoyable.

The type of fund you select to establish is your choice. The type of fund that works best for you and your charitable goals ultimately boils down to how involved you wish to be in making grants or distributions from your fund. There are four basic types of funds at OICF:

Donor Advised Fund

A Donor Advised Fund (DAF) is a convenient way for philanthropically minded individuals to simplify their charitable giving and take advantage of maximum tax savings. Donors make an irrevocable contribution to the Orcas Island Community Foundation to establish the fund. These funds are then available for the donor to make grant recommendations to charitable organizations. A Donor Advised Fund can be established with a minimum donation of $2,500.

Benefits of a Donor Advised Fund

  • Immediate tax benefits each time a gift is made to the DAF and simplified record-keeping. You receive one tax receipt from OICF in place of multiple receipts from the nonprofits you support.
  • Flexibility to recommend grants from the DAF to the charities of your choice at your own pace.
  • Opportunity to create a legacy of philanthropy to be shared with your family and passed on to your heirs.
  • OICF handles all the administrative tasks, due diligence, and responsible, secure financial management of the fund. Funds are invested with the intent of maximizing returns, further amplifying your opportunity for impact.
  • The OICF team is available to help you learn about organizations and programs in the community that align with your interests and values.

Ready to move forward? Learn more about DAF funds and complete and return our form to Establish a DAF at OICF.

Designated Funds

Designated Funds support specific charitable organizations that establish the fund, or named by the donor at the time the fund is established. OICF provides professional financial management for the funds and regularly pays grants to the charities named in the fund. For individuals, creating a designated fund can ensure that a charitable organization will receive support over a long period of time, perhaps beyond the donor’s lifetime. Designated Funds are established with a minimum donation of $5,000.

Designated funds may be temporarily restricted, with grants requested at any time to support the fund’s designated purpose, or endowed (see below for more information).

Benefits of a Designated Fund

  • Make an endowment gift to any charity
  • Endow emerging, small or struggling organizations
  • Endow several organizations
  • Make a gift now that can last forever
  • Manage funds professionally and monitor grants

Designated Funds already established at OICF that you may give to are listed on our Donation Page.

Interested in setting up a new fund? Learn more about designated funds and complete our form to Establish a Fund at OICF.

Endowed Funds

OICF manages endowments established to support nonprofit organizations on Orcas Island. The foundation provides consistent stewardship, professional investment management, and effective administration. These funds may receive gifts of cash, marketable securities, and many other assets. Annual distributions from these funds (generally 4% of the average balance for the last 12 quarters under OICF’s policy) support the charitable purpose of the fund in perpetuity.

Benefits of Endowed Funds

  • Credibility with new and existing donors
  • Potential visibility to new donors as part of the fastest growing philanthropic endowment in the region
  • Opportunities to invest endowed funds in a broad range of investment vehicles, reducing risk and maximizing return
  • Reasonable management and investment fees

Endowed Funds already established at OICF that you may give to are listed on our Donation Page.

Interested in setting up a new fund? Learn more about designated funds and complete our form to Establish a Fund at OICF.

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