Types of funds

A strength of a community foundation is its responsiveness and flexibility around individual donor’s needs. We work with individuals, families, corporates and other organisations who wish to have the independence and control which comes from having their own donor advised fund, coupled with the services which we provide to its donors. We offer a suite of different giving options which include:

1. Donor Advised Funds

A Donor Advised Fund is a charitable giving vehicle administered by a third party (such as us) and created for the purpose of managing charitable donations on behalf of an organisation, family, or individual.

A Donor Advised Fund offers the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to direct giving or a private foundation.

Donors benefit from seeing the impacts of their giving, administrative convenience, cost savings and tax advantages by conducting their grant-making through such a fund. A Donor Advised fund can be set up on an endowed (long-term) or on a current basis.

In setting up an endowed (long-term fund) the donor can also choose whether to set up a designated or unrestricted fund.

  • Designated funds: Through a designated fund, the donor chooses one or more organisations or a specific area of interest or concern (for example, cancer or the arts) to receive distributions from their fund. If the donor wishes to support an initiative in their community, for example, a designated fund ensures that all grants will be made to that organisation at specified stages. If the benefiting organisation ceases to exist in future years, we will direct the income from the fund to another purpose or organisation that matches as close as possible original intentions of the donor.
  • Unrestricted funds: If the donor has broad interests and is primarily concerned with meeting the most urgent needs of the community as they change from year to year, an unrestricted fund is the most effective way to facilitate this. Such a fund allows our highly qualified Board of Directors, full discretion to determine how income from your fund can be directed to the most immediate and pressing challenges facing the community – now and in the future.

2. Thematic Funds

We have established a number of thematic funds which support a particular target group or field of interest including The Women’s Fund, The Older Persons’ Fund, The Environment Fund and The LGBT Fund. To find out more, visit our Give to a thematic fund section here.

3. Leaving a gift in your will

By leaving a gift to us, we will ensure that your legacy will have the greatest impact now and into the future.   With a gift in your will, you could help us build a stronger better Ireland.  If you have a desire to improve life in Ireland or have a cause, social issue or area that you care deeply about, then to find out more, visit our Give through legacies and wills section here.

4. Facilitating once off or periodic donations

We also welcome gifts from donors who wish to make one-off or periodic gifts to charitable causes in Ireland or overseas. Since 2006, we have been the Irish representative of Transnational Giving Europe (TGE) which facilitates tax effective giving across much of Europe. For further information on TGE donations, visit our Tax efficiency section here, under Overseas Donations.

5. Supporting your County

The concept of the county fund is that it will allow you to set up and maintain an ongoing fund specific to your county which will allow for a permanent supply of funding support to projects which may need help around your county. The County Monaghan Fund is already established and making a difference to its locality.  To read more about the fund it and get inspired to set up your own County Fund, visit our Give to your county section here.

6. Community Benefit Funds

Companies increasingly make voluntary payments – commonly referred to as ‘community benefit funds’ in the communities they are working in. These voluntary payments which vary in value are often linked with renewable energy developments such as wind farms or other infrastructural projects.

The Community Foundation for Ireland is building a track record as an independent third party with the capability of establishing and running such funds. The Foundation’s involvement is always post planning (when the requisite statutory permissions have been given for the project). The Foundation offers a professional, efficient and flexible service that avoids the need to set up a separate charitable trust, and which prioritises good governance and maximum impact from the fund in the community it supports. Since 2000, the Foundation has distributed over €25m to charitable causes and The Foundation has worked with over 3000 non-profit organisations at a national, regional and local level throughout Ireland supporting projects in many areas including, education, community development, health, the arts, older people and young people.

If you are interested in setting up a county fund in your area, please contact the Development Team at 01 874 7354 or email info@foundation.ie.