A scholarship fund isn’t the only way to achieve your charitable goals for funding education. Learn about how the community foundation can help you pursue areas of interest that support education in creative ways. You may be pleasantly surprised to discover the variety of options.
It’s graduation season, and that means education may be on your mind! The community foundation can help you make a difference in the lives of young people by funding education. Certainly, establishing a scholarship fund at the community foundation is one way to accomplish this goal. But that’s not the only way. Here are three ideas to consider as you explore ways to make an impact through education.
Establish a designated fund for educational institutions.
A designated fund provides support for specific organizations of your choice. So, for example, if you want to ensure that a particular college or university receives funding each year, you can set up a designated fund to accomplish this. For instance, if your family has supported the same local college for generations, you may want that support to continue. At the same time, you want to be sure that your funds are used effectively. This includes protecting your monetary support from the college’s creditors if the college finds itself in financial trouble. A designated fund at the community foundation could be the solution.
Establish a field-of-interest fund to support specific aspects of education.
Through a field-of-interest fund at the community foundation, you can establish parameters for grant making according to your wishes. If education is your priority, perhaps over the years you’ve supported a variety of local organizations that provide students with courses, tutoring, mentorship, and social services, ranging from grassroots charities to well-established trade schools and higher education institutions. Establishing a field-of-interest fund activates the community foundation’s expertise and research by delegating grant making decisions to the community foundation team. This helps donors like you ensure that their dollars will have the greatest impact.
Seek the advice of the community foundation for your donor-advised fund grant making.
If you have established a donor-advised fund at the community foundation, you’ve likely used it over the years to support your alma mater and perhaps other educational institutions. The community foundation team would welcome the opportunity to help you think broadly about education, beyond simply four-year institutions. Community colleges, trade schools, vocational programs, and out-of-the-box learning experiences may be a better fit for some students. The community foundation can also help you identify charities that support teachers, classrooms, and school districts, all of which need resources to deliver the best possible education to students.
We look forward to helping you support education as a major area of charitable interest! And if there’s a graduation in your family this year, congratulations!