Types of Funds
You can give to an existing fund or create a new fund. Funds can be named for a particular individual, family or anonymously. Distributions can be made to qualified organizations serving those in Oak Park and River Forest or anywhere in the United States.
There are many ways to give, including appreciated securities, real estate, cash, or other assets which can be sold and the proceeds deposited with the Foundation for one of the following purposes:
Fund for Now
Gifts to the Fund For Now are in the current year for the on-going operations of the Oak Park-River Forest Community Foundation.
Gifts to the Community Grantmaking Endowment Fund increase the future distributions to our area organizations. Gifts to the Impact Excellence Endowment Fund ensure programs and services will continue into the future for the area social impact, or non-profit, organizations.
A gift or a group of gifts that total $10,000 or more can be established as a named or designated endowment fund you may name for a loved one or to honor the memory of someone special to you. Such a fund will assure funds for your charitable interests in perpetuity. These funds can be created through an estate plan and funded upon the death of the Donor. Specific charities or programs at specific charities are named within the fund agreement to receive annual distributions.
Donor Advised Funds are the most commonly known type of Fund within the field of philanthropy. You make recommendations to the Oak Park-River Forest Community Foundation's Board of Directors for distributions from the fund to support the charitable, cultural or educational programs that are of interest to you and that meet the policies established by the Board of Directors.
Designated Funds are often (but not always) created through an estate plan and funded upon the death of the Donor. Specific charities or programs at specific charities are named within the fund agreement to receive annual distributions.
Scholarships help pay for education. The Scholarship Foundation with the Oak Park & River Forest High School provides a variety of scholarships for high school graduates. You can contribute directly to that Fund, or if you want to provide a scholarship for a different school, you can create a new scholarship fund. You can specify the schools the young people come from or ones they are to attend. Scholarships can be for any level of education you, the donor, specifies.
Field of Interest Fund
Field of Interest Funds provide distributions for specified causes. The organizations that further the cause may change over time, but the Oak Park-River Forest Community Foundation’s staff and Board of Directors will ensure that dollars entrusted to the Community Foundation will always be used for the designated purpose. Select from existing field of interest funds or establish a fund designating a particular area of interest as broadly or as narrowly as desired.
Agency Endowment Fund
Typically established by an Agency, annual distributions from the fund will help support the activities and programs of the agency. Should a particular agency cease to do business, the Foundation will search for another organization providing similar programs.
Fund From Will or Trust
A charitable bequest by will or trust is a simple way to make a lasting gift to your community. Making a bequest does not reduce your current assets. Rather, it stipulates asset distribution after your death. At any time during your life, you may cancel a bequest, change the beneficiary, or modify gift amounts.
Your decision to leave a bequest to your community means that all future earnings from your gift serve as a permanent source of community capital, helping you to do good work forever. See bequest language for how to include the Oak Park-River Forest Community Foundation in your estate plan.