The Greater Cedar Rapids Community Foundation creates opportunities for donors to realize their charitable giving goals and make a difference in their community. We offer a variety of fund options to meet the wishes of our donors.
Types of Funds
Donor-Advised Funds permit you to remain actively involved by allowing you to make grant recommendations to causes you care about whenever it is convenient. Donor-Advised Funds can be fully distributed during your lifetime, or can be endowed to create a permanent legacy that will benefit the community forever. Once you submit your funding recommendations, your request will be processed promptly and the Community Foundation will distribute grants in the name of your fund. Our program staff provides regular updates to donor-advisors regarding community needs and opportunities.
A Designated Fund is established by a donor to provide ongoing support for a specific nonprofit organization or purpose. The nonprofit organization you choose will receive annual gifts from your fund, creating a stable income stream. You may choose one or more organizations to support through a Designated Fund.
An Agency Fund is established by a local nonprofit organization to provide support for the organization. Partnering with the Greater Cedar Rapids Community Foundation allows nonprofits to invest in a larger pool of assets, which can lead to greater growth, greater income and lower investment fees. All gifts to the organization’s endowed fund are tax deductible and may benefit from the 25 percent state income tax credit through the Endow Iowa Tax Credit Program. Distributions from the fund are granted back to the agency to be used at the discretion of its governing board. Nonprofits can create their Agency Fund as an endowed, non-endowed or quasi-endowed fund.
A Prairie Fund is an endowed fund which allows donors to establish a fund with an initial gift of $2,500. With regular contributions over five years, the fund will become a named, endowed fund once it reaches $10,000. At that time, the fund will produce a distribution amount to provide support to the nonprofit(s). Contributions may be made annually, quarterly or monthly.
Community Endowment Fund
Our community needs and opportunities are ever changing. Unrestricted contributions to the Community Endowment Fund allow the Community Foundation to use your charitable contribution strategically in response to the most pressing community issues and opportunities. The Community Endowment Fund is an endowed fund that supports competitive grant programs at the Greater Cedar Rapids Community Foundation. You may establish your own fund or contribute the existing Community Endowment Fund.
Field of Interest Fund
Field of Interest Funds allow donors to select particular charitable causes to support, such as the environment, education, arts and culture, human services, health or community development. You may establish your own fund or contribute to an existing fund. The Greater Cedar Rapids Community Foundation will award grants to community organizations and programs that are making a difference in the areas you select. While you determine the direction of your Field of Interest Fund, the details are left to the Community Foundation. Our professional staff continually monitors changing community needs and opportunities to ensure grants make the most impact in your field of interest.
Signature Funds are offered as an alternative to a private foundation for donors with significant charitable assets. As a donor-driven fund, all funding priorities, exclusions, decision-making and timing of grant awards are determined by the donor. Signature Funds also have the option of utilizing a competitive grant application process. Signature Funds can be fully distributed during your lifetime or can be endowed to create a permanent legacy that will benefit the community forever. As with other donor-advised funds, funding recommendations are processed promptly, and the Community Foundation will distribute grants in the name of your fund. Our program staff provides regular updates to donor-advisors regarding community needs and opportunities. For more information about Signature Funds, click here.
Memorial or In Honor
Any fund listed above can be established in memory or in honor of a loved one, or to commemorate a special milestone or event.