Establishing a Fund

The following are the types of funds that you may elect to contribute to or create within the Cambridge Community Foundation:

• Unrestricted Funds enable the Foundation to use its expertise to respond to changing community needs and emergencies, to support the creation of innovative responses to community problems, and to enhance the quality of community life. An Unrestricted Fund can be established by a donation of $5,000 or more.
• Field of Interest Funds allow donors to select a particular field of interest and the Foundation’s Distribution Committee will choose deserving grantees in that particular area. Field of Interest Funds can be established by a donation of $5,000 or more. The donor may select their own particular interest or donate to one of the Foundation’s six fields of interest:
• Early Childhood Services: "A Healthy Start" —for babies, preschoolers, and their families.
• Youth Services: "Opportunities for Children and Youth" —to grow into healthy, productive citizens.
• Senior Services: "Support for Our Seniors" —services, activities, and volunteer opportunities.
• Community Services: "A Welcoming Community" —ensuring access to services and resources for new immigrants and underserved groups and individuals.
• Emergency Outreach: "A Community that Cares" —addressing hunger, homelessness, and violence.
• Arts and the Environment: "A Lively, Livable Community" —encouraging creativity, caring for our environment, and arts for all.
• Donor Advised Funds let donors advise the Foundation each year regarding which organizations should receive grants, and the Foundation ensures that the recommended grants meet charitable requirements. This type of fund operates in a similar way to a family foundation, but receives more favorable tax treatment. A Donor Advised Fund can be established by a donation of $25,000 or more.
• Corporate Advised Funds are similar to Donor Advised Funds except they are the gift of a corporation, business, or its employees. For a company without its own foundation, it is an effective way to make “Cambridge-wise” donations using CCF as advisor and administrator. Such funds can be established by companies anticipating annual increases to their CAF of at least $3,000.
• Designated Funds ensure that support will be provided to specific eligible organizations named by you. If any of these organizations should cease to operate, the Foundation will continue the donor’s charitable objectives. A Donor Designated Fund can be established by a donation of $50,000 or more.
• Scholarship Funds can be created to provide support for students in need of financial assistance, a particular school, or a field of study. A Scholarship Fund can be established by a donation of $25,000 or more.
• Private Foundation Transfers preserve the identity and purpose of the original foundation. Family members or other designees may continue to participate as fund advisors. There are no additional taxes to pay. The CCF takes care of all distributions, recordkeeping and reporting requirements.

Many donors choose to establish a fund and add to it in subsequent years. Donors may also donate to funds established by others.

Please contact Bob Hurlbut, Executive Director, or Kathy Fitzgerald, Director of Development and Strategic Initiatives, or call them at 617-576-9966 to receive additional information about the Foundation and specific ways to contribute that will best meet your personal charitable goals.