Types of Funds

Tulsa Community Foundation (TCF) offers a range of charitable fund types to meet the specific needs and charitable desires of each donor.

Donor Advised Funds- Giving with a personal touch

  • Allows maximum involvement in grantmaking while streamlining the giving process.  Upon the donor’s advice and the board of trustee’s approval, TCF will distribute the agreed upon amount to public charities of the donor’s choice.
  • Donors can make a large contribution to the fund in a single year for tax purposes and grant the principal to charitable beneficiaries over an extended period of time.
  • TCF assumes responsibility for all administrative tasks and receipting.

Corporate Donor Advised Funds- Giving responsibly

  • Corporate donor advised funds save a corporation from issuing numerous checks and maintaining multiple records for tax purposes.
  • The corporation will receive an immediate charitable tax deduction for the full amount of the donation.
  • Corporate donor advised funds also reduce tax liability in peak years and help streamline corporate giving for the long run.

Designated Funds- Investing in sustainability

  • The donor designates a specific charitable organization or cause as the perpetual recipient of the income and/or principal from the fund, ensuring a future funding.
  • Should the organization cease to exist or change its mission, TCF retains the authority and responsibility to reallocate the gift to another charitable organization that most closely reflects the donor’s original intent.

Field of Interest Funds- Connecting personal values with community needs

  • Funds enable donors to assist general areas in the community, e.g. arts, health care
  • TCF supplies funding to those organizations most effectively serving the areas of greatest importance to the donor.

Officer Lori Mullin with Roscoe - December 2009

Scholarship Funds- Rewarding deserving students

  • Donors extend the legacy of philanthropy by assisting students with various needs in education and training.
  • Donors choose the scholarship selection criteria such as the high school or university attended, field of study or hometown of students.
  •  TCF creates and manages the student application and award process.
  •  Learn more about TCF’s current scholarship programs.

Charitable Agency Funds- Supporting high-impact organizations

  • Nonprofit organizations function as both the “donor” and the “beneficiary.”
  • Enable local and national nonprofit organizations to establish a permanent pool of assets while leaving the time-consuming financial management responsibilities to TCF.
  • Charitable agency funds may also be established by a donor or group of donors to perpetually support a specific nonprofit agency.
  • Click here to learn more about agency funds at TCF.

 

Discretionary Funds- Supporting high-impact organizations

  • By creating a discretionary fund, donors provide TCF with the flexibility to respond to the most urgent needs and promising opportunities in our community now and in the years to come.
  • After receiving a donation, the foundation distributes a portion of the total value of the fund each year, providing grants that meet the most pressing community needs.

Supporting Organizations- Achieving complex philanthropic objectives

  • Supporting organizations are separate entities affiliated with the foundation under provisions of Section 509(a)(3) of the Internal Revenue Code.
  • These groups provide an excellent alternative to a private foundation, both in tax advantages and administrative costs.

Agency Reserve Fund- Aid agency’s through tough economic timesEDR_1_Web

  • Agency’s set aside portions of their grants/donations to meet any unexpected costs that may arise in the future or as well as the future costs of upkeep.
  • Acts as a savings account

Disaster Relief & Emergency Assistance Programs- Helping your own

  • Disaster relief and emergency assistance programs allow corporate philanthropic dollars to assist employees in the event of an unexpected and unavoidable emergency or disaster.
  • Corporations and employees contribute to the fund at TCF and choose the criteria for employees to qualify for grants and the maximum amount for each type of situation.
  • TCF manages the application and award process.
  • Learn more about TCF’s current disaster relief and emergency assistance programs.

Comparison of Fund Types at TCF

Fund Type Donor Advice Fund Examples Effect Initial Contribution Amount
Donor Advised Fund Donor provides advice on grant distribution. F.W. Murphy Fund Specific groups and nonprofit agencies receive funding. $5,000
Corporate Donor Advised Fund Corporation provides advice on grant distribution. Williams Companies Fund Streamlines corporate giving; brings focus to charity instead of administrative tasks. $5,000
Designated Fund Donor recommends specific agencies or programs to support. Brady Craft Alliance Named agencies or causes receive perpetual income from the fund. $5,000
Field of Interest Fund Donor recommends a general area or cause to support. Tulsa Beautification Fund Numerous groups within chosen interest areas receive funding. $5,000
Scholarship Fund Donor assists TCF to select recipients. Donor and donor representatives may form the minority of the selection committee only. Folds of Honor Foundation Scholarship Fund Students fitting within chosen criteria receive assistance with educational expenses. $5,000
Charitable Agency Fund Nonprofit agencies begin a fund to secure the future success and funding of the organization. Emergency Infant Services Nonprofits secure perpetual income, lessening the stress of fundraising. $5,000
Discretionary Fund TCF utilizes donor’s contribution to meet the present or future needs of the community. Greater Tulsa Fund Community benefits from available funds, applied by TCF as needed. $5,000
Supporting Organization Donor(s) create an independent public charity with its own formalized giving structure and investment policy. Pawhuska Community Foundation Donor(s) avoid limitations of private foundations, and have greater investment flexibility. $500,000
Disaster Relief & Emergency Assistance Program Corporation creates fund and TCF administers application and grant award process. Cox Cares Employee Relief Fund Employees with qualifying needs and circumstances receive assistance. $5,000
Transfer of a Private Foundation Donor recreates the foundation with TCF, usually through a donor advised fund or supporting organization. Donor provides advice on grant distributions. Brings focus to charity instead of administrative tasks. $5,000