Types of Funds
DCF Administers More
Than 80 Funds
The Dearborn Community (DCF) administers a total of more than 80
endowments and non-permanent funds. Donors’ wishes vary from the granting of
scholarships in the name of a deceased loved one
to donor-advised endowments that provide assistance to a particular
non-profit organization or cause.
By establishing an endowment, a donor can ensure the principal amount of
gifts and/or bequests is maintained intact and invested to create a source of
income for a fund in perpetuity. Options for endowment
funds at DCF include:
Advised Funds: The donor and often
the donor’s family or designated advisory committee participate in the
grant-making process by recommending grant recipients to DCF.
Designated Funds: The donor
specifies one or more organizations to receive grants year after year. DCF
monitors the grants to ensure that the donor’s original objectives are
fulfilled. Local non-profits also choose to establish endowments funds at
DCF to assure the future of their organizations.
Donors who establish this type of fund recognize that the pressing needs of
their community change over time and do not specifically designate
grants that support a particular agency, cause or area of interest. This
type of fund allows the DCF staff and board to address
the most critical needs of area residents. These donors
are establishing permanent and responsive legacies in their community.
Field of Interest Funds: The donor
specifies a grant-making area of interest, then DCF makes grants to
organizations that serve that interest. Some scholarship funds at DCF are field
of interest funds.
Scholarship Funds: DCF has a
growing number of scholarship funds that were established to help deserving
students pursue educational opportunities and/or to memorialize a loved one
who has passed away. The Foundation works closely with local schools and
families to award scholarships to students in Dearborn