You can create a new fund with the SDCF, choose its name and its purpose. You can structure your fund so that the grants flowing from it can be used several ways.
The Board of Directors decides where the earnings from this fund can be used most effectively each year.
You specifically name one or more charitable organizations to be the perpetual beneficiaries of the annual income from your fund. Designated funds may be of particular interest to a charitable organization wanting to set up an endowment fund to ensure its financial stability in the long term.
This is a type of Designated Fund, where the original donor is a charitable organization that has set up the endowment fund to ensure its financial stability in the long term. Donations from the public to the Selkirk and District Community Foundation can easily be directed to different Agency Funds.
Field of Interest Fund
You identify an area or a cause that you would like to support and the Board of Directors selects appropriate organizations and projects that have applied for grants, to receive those funds each year.
Donor Advised Fund
Every year you advise the foundation which charitable organization(s) that have applied for grants in that year, should benefit from your fund’s earnings.
Scholarship or Bursary Fund
You may also choose to establish a scholarship or bursary fund in your name or in honour of someone else, to enable deserving individuals to receive education or training they might not otherwise be able to access.
You specify that the Selkirk and District Community Foundation be the perpetual beneficiary of the annual income from your fund to assist with the operation of the Foundation.
To see some inspiring examples, visit the SDCF Types of Funds.