Annual Report

Spring 2020 Newsletter
Guiding the Giving (Off  68)


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Types of Funds

The Community Foundation offers a variety of fund options to help your clients meet their philanthropic goals. From donor advised funds (which allow your clients to engage in active grantmaking) to unrestricted funds (which rely on the Foundation’s knowledge of the community for grantmaking decisions), our funds allow your clients to choose their level of participation. Donors can establish a fund using cash, securities, closely-held stock, mutual fund shares, real estate, business interests (limited partnership shares, LLCs, etc.) and many other types of assets. Please refer to our Giving Options page for more information.

Donor Advised Funds

Donor Advised Funds are charitable funds for donors seeking active involvement in grantmaking. Donors – and their successors, if desired – advise or recommend grants from their fund to support nonprofit organizations. Donors can work with foundation staff to create a lasting, impactful philanthropic legacy. Read more

Field of Interest Funds

Field of Interest Funds are funds that have been established by the Community Foundation, sometimes in conjunction with donors, for granting to a broad area of interest rather than a single non-profit organization in a particular field. Field of Interest Funds are also endowed funds, meaning that they will continue to make annual grants in perpetuity. Read more

Scholarship Funds

Scholarship Funds support those who want to pursue education, whether they're high school graduates pursuing a college degree, young athletes seeking assistance with additional training or nontraditional students who are returning to the work force. Donors work with foundation staff to devise selection criteria. Read more

Award Funds

The Community Foundation for Monterey County holds several endowed award funds. Whether honoring loved ones or providing for a specific community or educational endeavor, these funds have been established by generous local individuals and organizations. Read more

Supporting Organizations

Supporting organizations are separate legal entities that are affiliated with the Community Foundation. Established with their own boards of trustees, grantmaking identities, and governance structures, supporting organizations enjoy public charity status and the professional services of the Foundation, including staff and administrative support. Read more

Unrestricted General Endowment Funds

Donors can support changing community needs by providing unrestricted support. Donors may create a named endowed fund whereby the Foundation's board of directors will use the funds to address pressing community needs.

Designated Funds

Oftentimes, donors wish to support a specific nonprofit organization. Once established, grants are made annually to the organization(s). Foundation staff monitor the organization to honor your client's philanthropic intentions. With a designated fund at the Community Foundation, your clients receive professional management and grant monitoring. The purpose of these funds is to provide a permanent, protected stream of operating income for agencies that donors wish to support over time. This provides donors with an alternative to making a large lump sum gift to an agency.  It may also help the agency, in that many nonprofits may not have the financial expertise needed to effectively and safely manage large, single donations. Designated Funds may also be established to benefit capital campaigns.

Stewardship Funds

A Stewardship Fund is established in the name of the nonprofit organization and the agency benefits from participation in the CFMC's investment pool. The CFMC handles all the administrative details, including investment management. The nonprofit organization receives regular statements and the agency or individual donors can add to the fund at any time. With a stewardship fund, agencies may retrieve assets from the fund upon request of the agency board, with approval by the CFMC board of directors

A Word on Payout

Trustees of any type of charitable foundation have an inherent duty to use good judgment and prudence in managing the foundation's assets. In California, the basic guidelines for investment management in the non-profit sector are found in the Unified Prudent Management of Institutional Funds Act (UPMIFA). These guidelines allow managers of charitable assets to take a total return approach to investing, which means that in deciding how much to distribute in grants (or "payout"), they can and should consider current income needs, the importance of preserving and building principal, and the long-term effects of inflation. The Board of the Community Foundation adopts an annual payout for all of our endowment funds with that philosophy in mind and with an awareness of the long-term performance averages for stocks, bonds, and other investment instruments.

For more information contact President/CEO, Dan Baldwin or call 831.375.9712 x115.

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