Establishing a fund through the Community Foundation of North Central Massachusetts is a simple and and easy way to give back to your community. By giving through the foundation, you can focus on a specific nonprofit, issue(s), or region, or create a fund that gives you the flexibility to support a wide-range of causes. All this can be done with a example of a Donor Advised simple fund agreement [PDF].

Types Of Funds

Donor Advised Fund

Opening a Donor Advised Fund allows you to make a gift to your community foundation, then remain actively involved in suggesting uses for your gift.

You make a gift with as little as $10,000 (payable over four years) to the Foundation — you can give cash, appreciated stocks, real estate, or other assets.

  • We set up a special fund in your name, in the name of your family or business, or in honor of any person or organization you choose.
  • You receive tax benefits in the year your gift is made.
  • You recommend uses for the fund — working with our professional program staff to support the causes and organizations you care about most.
  • Your recommendations are presented to our community foundation board for approval.
  • We handle all the administrative details and issue grants to charities in the name of the fund you establish (if you prefer, grants can be made anonymously).
  • Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
  • Donor Advised Fund Agreement


Scholarship Fund

In creating a Scholarship, you invest in your community’s future and show students you care. Your community foundation provides the expertise to help you meet your personal goals and awards Scholarships to deserving students. Your gift can help students — from preschool to postgraduate — achieve their lifetime dreams.

  • You make a gift to the Community Foundation — you can give cash, appreciated stocks, real estate, or other assets.
  • We set up a Scholarship in your name, with a gift of $10,000 or more, (payable over four years), in the name of your family or business, or in honor of any person or organization you choose.
  • You receive tax benefits in the year your gift is made.
  • Our professional program staff helps you to determine eligibility requirements for the Scholarship you establish — whether they are based on a student’s field of study, academic achievements, extracurricular activities, financial need, background, or geography.
  • We handle all the administrative details — and award Scholarships to deserving students in the name of the fund you establish.
  • You receive updates on the impact your gift is making in our community.
  • Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
  • Scholarship Fund Agreement

Field of Interest Fund

By establishing a Field of Interest Fund, you can target your gift to address needs in an important area of community life. Arts. AIDS. Aging. At-risk youth. Our board awards grants to community organizations and programs that are making a difference in the area you select. Your gift stays flexible enough to meet community needs in your interest area — even as they change over time.

  • You identify an area of personal interest as broad or narrow as you wish.
  • You make a gift to The Community Foundation during your lifetime or through a bequest in your will. You can give cash, appreciated stocks, real estate, or other assets.
  • We set up a special fund, with a gift of $10,000 or more (payable over four years), in your name in the name of your family or business, or in honor of any person or organization you choose.
  • You receive tax benefits in the year your gift is made.
  • Our professional program staff evaluates needs in your area of interest that would be most impacted by grants from your gift.
  • Our board issues grants in the name of the fund you establish (if you prefer, grants can be made anonymously).
  • We handle all the administrative details.
  • Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
  • Field of Interest Fund Agreement

Designated Fund

Establishing a Designated Fund allows you to support the good work of a specific nonprofit organization. Because it’s given through your community foundation, your gift provides the organization you select not only funding, but planned giving and investment management services and the power of endowment.

  • You identify an organization that you wish to benefit.
  • You make a gift to the Community Foundation — you can give cash, appreciated stocks, real estate, or other assets.
  • We set up a special fund, with a gift of $10,000 or more, (payable over four years), in your name or in the name of the nonprofit organization you choose.
  • You receive tax benefits in the year your gift is made.
  • Our board issues grants to the designated nonprofit organization.
  • We handle all the administrative details, including managing specific qualifications that you may establish for grant disbursements.
  • You receive updates on the impact the fund is making.
  • Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
  • Designated Fund Agreement

Fiscal Sponsor Fund

Fiscal sponsorship with the Community Foundation of North Central Massachusetts (CFNCM) provides finance and administration and expertise on fundraising and management of your project and soon to be nonprofit so that you can focus on your mission.

  • Fiscal sponsorship permits the exempt sponsor to accept funds restricted for the sponsored project on the project’s behalf. The sponsor, in turn, accepts the responsibility to ensure the funds are properly spent to achieve the project’s goals.
  • Fiscal sponsorship with the Community Foundation of North Central Massachusetts (CFNCM) provides finance and administration and expertise on fundraising and management of your nonprofit so that you can focus on your mission.
  • Fees: To support the services described here, we charge an administrative fee of 1% of annual fund balances and 4% on all transactions. These fees allow us to provide the services described above.
  • Fiscal Sponsor Fund Agreement