2005 Annual Report - Akron Community Foundation

Philanthropic Partnership Choices
Donors can select from four basic types of
philanthropic funds that can be established
through current or planned giving instruments
like the many types of trusts or charitable
gift annuities:
The Community Fund
– for donors who want to help the community
solve today’s problems and issues but also want
their gift to benefit this area far into the future.
Donors can create an unrestricted endowed fund
that benefits the community or simply make gifts
to the Community Fund. This provides the full
service of the foundation’s staff and board as
grants are approved from the income of this fund.
Donor Advised Fund
– provides donors with the opportunity to name
their fund and to be involved through their
recommendations of specific organizations or
programs and projects to the foundation board
for funding. Donor advised funds can be added
to at any time in any amount and provide a ready
instrument to receive bequests.
Designated Fund
— provides permanent support to one or more
specific organizations.
Field of Interest Fund
— for donors who wish to support one or more
particular area of concern.
Advantages of a philanthropic
partnership with Akron
Community Foundation
Accessibility to a reliable, knowledgeable
and friendly staff to answer questions and
provide prompt service
Opportunities to visit organizations and to
learn more about the community
Flexibility in types of gifts, cash, stocks
and bonds, mutual funds, life insurance
and real estate
Planned giving vehicles include trusts,
charitable gift annuities and a Pooled
Income Fund
Flexibility in charitable purpose
Local expertise and a national network to
help donors identify and evaluate worthwhile
programs locally and across the country
Maximum tax benefits and cost
effectiveness as well as low costs for fund
service and administration
Alternative to establishing a private
foundation, which eliminates the expenses
and administration necessary in managing
a private foundation
A permanent legacy supporting
specific organizations and/or interests
in the community
akroncommunityfdn.org I An Idea That Changed Our Community I page 29