Types of Funds
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| Kelvin Rodriguez, an eighth grader at San Miguel School, Providence, expresses his appreciation for the scholarship he received to attend camp through the Irving H. Levin Fund. See the enlarged letter. (credit: Heather Ruple, San Miguel School) |
Following are the types of permanent funds you can establish at The Rhode Island Foundation, each designed to award grants in perpetuity:
Unrestricted
Unrestricted funds support critical unmet needs in Rhode Island, as determined by our staff and board of directors. The minimum gift to establish a named unrestricted fund is $10,000. Learn more about unrestricted funds.
Field of Interest
These funds support a specific field, either topical or geographic. Foundation staff and board of directors identify specific grantee organizations. The minimum gift to establish a named field of interest fund is $10,000. Learn more about field of interest funds.
Designated
With a designated fund, gifts are made in perpetuity to any qualified charitable organization you designate. The minimum gift to establish a named designated fund is $10,000. Learn more about designated funds.
Scholarships
More than 150 scholarship funds currently are helping to educate our leaders of tomorrow. Scholarships may be either field of interest (to support students in specific communities or fields of study) or designated (for specific high schools and/or colleges/universities). The minimum gift to establish a named scholarship fund is $10,000. Learn more about scholarship funds.
Donor Advised
Donor advised funds allow you - and those you name - to recommend grants and the flexibility to change the organizations you support through the years. The minimum gift to establish a named donor advised fund is $25,000. Learn more about donor advised funds.
Corporate Advised
Established by a corporation, a corporate advised fund - in the company's name and advised by a company representative - can be a good alternative or complement to a corporate charitable foundation. The Rhode Island Foundation provides much of the administrative work, employees can contribute, and more. Learn about corporate advised funds.
Organizational Endowment Funds
Approximately 150 Rhode Island nonprofit organizations have entrusted the Foundation with management of their endowments and receive regular grant distributions from their fund. The minimum gift to establish a named organizational endowment fund is $10,000. See a list of organizational endowment funds held at the Foundation. Learn more about organizational endowment funds.
Supporting Organizations
A supporting organization enables a family, business, or existing foundation to affiliate with the Foundation. Benefits include an independent board of directors, a distinct investment policy, administrative details and tax reporting handled by the Foundation, and increased flexibility in grantmaking. The minimum gift to establish a supporting organization is $5 million.
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