Other Types of Funds

Agency Endowment Funds

Nonprofit agencies may create endowment funds for the benefit of the agency itself and receive grant distributions annually in perpetuity

May be established with a minimum gift of $10,000.

Designated Endowment Funds

Donors may create a designated endowment fund for specific nonprofit or religious organizations, which will receive annual grant distributions from the fund in perpetuity.

May be established with a minimum gift of $25,000.

Field of Interest Endowment Funds

Donors may create endowment funds from which grants are to be made within broadly defined categories of interest (such as the arts, education, the environment, etc.)

The Foundation's Board of Directors and professional staff develop strategies and award grants to achieve maximum effect within the donor's specified area of interest.

May be established with a minimum gift of $25,000.

Scholarship Funds

Donors may establish a scholarship fund for students with defined characteristics and may participate in the selection process as a member of a committee.

Donors may establish a scholarship fund for a particular college or school and allow the school to select the recipient scholar.

Scholarship Funds are generally endowed and maybe established with a minimum of $100,000, and a balance of $100,000 must be maintained for the awarding of scholarships.

Sandpiper Funds

Donors may open a fund with only $1,000, with the requirement to grow it to $10,000 minimum over a five year period. These funds are designed to help people become philanthropists. Sandpiper Funds may make one grant per year not to exceed 10% of the balance with a minimum gift amount of $250.

Non Endowed Agency Funds

Not-for-profits may create a non-endowed fund and make annual grants from the fund. Any annual distribution requests must be at the $10,000 level or above.