A designated fund is a restricted fund with the stipulation that charitable contributions be used for a specified purpose. Southern Minnesota Initiative Foundation offers a variety of fund options to help donors meet their unique philanthropic goals. Some examples of designated funds include agency, donor-advised, field of interest, and scholarship funds.
It is the Foundation's policy to help sustain and grow resources in our region to support local projects and priorities. SMIF provides the administrative and 501(c)(3) infrastructure, including processing all gifts and grants. The Foundation also provides staff support and expertise to donors, communities and nonprofit organizations to meet their philanthropic goals through the formation of designated funds. The Foundation has the right to approve or deny any funds or donations according to its Gift Acceptance Policy.
Designated Funds can be seeded with many types of gifts including cash, appreciated stock, real estate, and planned gifts, such as charitable gift annuities and bequests.
Establishing a Designated Fund
A Designated Fund is ideal for families, individuals, and groups who:
> Are dedicated to supporting a specific purpose.
> Are confident they want to continue their support in perpetuity.
> Want to make a long-term impact on the charities that are most important to them.
> A Designated Fund can be established with a $5,000 minimum.
> Designated Fund will be professionally managed alongside Southern Minnesota Initiative Foundation’s portfolio, which allows greater diversification of investments and access to investment vehicles that may not be possible for individual funds.
> Each fund is charged a fee for administrative and/or investment services facilitated by SMIF. Investment fees are dependent on asset size and fund type.
> Discuss Designated Funds with us.
> We will customize a fund agreement for you.
> Make an initial contribution.
For more information about designated funds, contact Jennifer Nelson at firstname.lastname@example.org or 507.214.7025.