Start A Component Fund
The Bartlesville Community Foundation can assist you in creating a fund. We provide great flexibility in helping you create endowed and non-endowed component funds when you want for the purposes you want.
When You Want:
You and your family can start a fund now for use now, leave instructions for a fund in your estate planning documents for future philanthropy, or create a fund through a trust arrangement that benefits your family and the charities you wish to support. You can also use a variety of assets to start a fund: cash, securities, stocks, real estate, life insurance, tangible personal property, or private foundation assets. Tax benefits occur at the time of your gift and according to the asset donated.
Endowed – a fund established for long-term investment and charitable support and adheres to a maximum annual spend limit to ensure perpetuity
Non-Endowed – a fund established and may or may not be invested, generally for short term support or to achieve short term philanthropic goals
Component Fund – a custom-designed fund established by a donor that may be used to reflect their charitable interests. All component funds at the BCF are an extension of the BCF and are subject to the variance power of the BCF board. All gifts to the BCF and its component funds are legally transferred assets from the donor to the BCF. All component funds are established with a fund agreement to outline the expectations between the donor and the BCF.
For the Purposes You Want:
The Bartlesville Community Foundation exists to help you accomplish your philanthropic goals. We have a variety of funds available to meet your charitable interests. Click the link below each fund for specific spending and fee details. Give us a call or stop by to learn more!
Types of Component Funds
These funds are established by a charitable organization for the long-term benefit of that charitable organization through endowment which can offer a strategy for annual income. Funds are named for the organization. Anyone can give to the fund (donor, organization, corporation). Donations from anyone other than the establishing organization are permanently restricted for long term benefit.
Example: Agency Funds are great places to make a donation if you aren’t ready to start a fund of your own. SPCA, Big Brothers Big Sisters, Tri County Tech, Run the Streets, and more!
Donors create this endowed fund to benefit one or more specific charitable organizations who receive scheduled annual grants. Donors may select the fund name. This scheduled and automatic grant making can continue for as long as there is a balance in the fund. Some donors use designated funds as a tool in their legacy planning process. Establish a fund now, name it in a trust to be funded with assets after death to continue supporting organizations well into the future.
Also a great tool when considering a purpose for a required minimum distribution from an IRA! Call us to learn more!
Example: Create a named fund where half the annual percent spend is granted to your church and half goes to your favorite local charity, automatically.
A fund created by a donor for the donors own charitable interests. Can be used like a donors personal checking or savings account. The Foundation will accept the donor’s recommendations as long as the request is charitable and legally permissible. You receive the charitable deduction for the entire gift to your fund, but you can decide where the money goes at a later date. Donors may select the fund name.
This is the perfect tool for any donor looking to use “bunching” as a method of budgeting their charitable spending.
Example: One year you might make a grant to a capital campaign for a new building at your college and the next year make grants to several arts organizations you enjoy.
Funds created by an individual/family/group of donors who wish to help local students attain a higher education.
See our existing scholarship opportunities: http://bartlesvillecf.org/learn/scholarships-overview/
Field of Interest Funds:
These funds create grants that meet needs in a particular field in Bartlesville that is of interest to the donor. Donors may select the fund name. Grants are awarded to local organizations through a formal grant application process.
See our existing grant opportunities: http://bartlesvillecf.org/grants-overview/
Example: You might create a fund to support projects that provide affordable housing for low-income families. You can support different organizations each year as long as they fulfill the goals of your fund.
Fiscal Sponsor Funds:
A fund created to support the management of a specific charitable project. The Foundation manages all administrative tasks which allows the fund-owners to spend their time serving a mission.
Example: A group of donors want to raise money to build a patio at the police department and install a grill so police officers have a nice place to eat outside. The foundation acts as the back office while the group of charitably minded individuals focus on filling the need.
The foundation can also help you reach your charitable goals in other ways by providing planning and offering other tailored fund choices.
** The BCF does not permit grants from funds to political organization or campaigns. No gift/grant can be made in return for goods or services. The BCF board has variance power over all funds in the Foundation.**