Advised funds allow you to be more involved as a donor. You may recommend distributions at any time to nonprofit organizations, changing them as your interests and community needs change. Similar to a private foundation, an advised fund gives you flexibility and convenience.
Designated funds ensure that permanent support will be provided to specific charities named by the donor. A unique feature of this type of fund is the variance power, which ensures that your gift will always be used effectively. With the variance power, The Dallas Foundation can redirect a charitable fund if the original purpose cannot be served. For example, if an agency went out of business, the Foundation could use the funds to support another group doing similar work.
Field-of-Interest funds support a cause important to you, such as education, the arts, social services or health. The Dallas Foundation Board of Governors then awards grants on the basis of competitive applications to the most appropriate programs or organizations within the field of interest specified.
Agency funds are the permanent and non-permanent endowments of nonprofit organizations, which provide perpetual support for a particular charity. Any charity can establish such a fund at the Foundation.
Scholarship funds are dedicated to the continued education or training of children or adults. Scholarship programs may be designed to meet certain specifications, such as supporting students in a specific area of study, rewarding academic achievement, mitigating financial need or supporting students from a particular high school.
The Community Impact Fund benefits the Dallas community as a whole. It enables The Dallas Foundation to respond to changing community needs and emergencies, to support innovative solutions to community problems and to enhance the quality of community life. No restrictions are placed on how this fund may be used, leaving the most effective charitable application to the expertise and discretion of the Foundation's Board of Governors.