Start a New Fund

If you're ready, it's easy to start a fund now!

A named charitable endowment allows you to create a lasting legacy for you, your family, or to memorialize a loved one. Our professional development staff is ready to assist you in fulfilling your philanthropic vision.


Corporate advised fundholder Todd Blount with employees of Blount Fine Foods

Through the Mary Lou Strong Fund, which Dexter Strong established in his mother’s memory, her commitment to contributing to the world and helping others will continue. “Mom was always very active in the community. She was very generous and open-hearted. This fund is my statue to her,” Dexter explains.

You can establish and name one of the following types of funds

  • Unrestricted
    Leaves the choice of grant recipients to the Foundation to meet the needs of the day.
  • Field of interest
    Targets an area of interest, such as the environment, education, or a geographic region.
  • Designated
    Identifies one or more particular nonprofit organizations for perpetual support.
  • 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).
  • Donor advised
    Enables a donor and named successors to recommend nonprofit organizations to receive grants.
  • Corporate advised
    Allows a corporation to recommend nonprofit organizations to receive grants.
  • Organization endowment
    Enables a nonprofit organization to receive grants and take advantage of professionally managed investment and greater security.
  • Supporting Organization
    For private foundations and larger donors, creates a separate public charity like a “subsidiary” of the Rhode Island Foundation, benefiting from the Foundation’s community knowledge and professional philanthropic services.

You can give any of the following

  • Cash
    A cash gift is the easiest to give, and your contribution will qualify for maximum deductibility for income and estate tax purposes.
  • Securities
    Stocks, bonds, or mutual funds may be used to establish, or add to, a fund. If your securities have appreciated, it is to your advantage from a tax-perspective to give them to the Foundation rather than to sell them and contribute the proceeds to the Foundation.
  • Real estate
    The Foundation will accept, on a case-by-case basis, gifts of real estate unencumbered by a mortgage and appraised at $250,000 or more.

The Foundation accepts other complex or hard to value assets on a case-by-case basis.

Donor stories

Field of interest fund

John Duhamel

Alumnae Association of Newport Hospital School of Nursing Fund

"We want our name to go on...this fund would be the best way to do it,” explains Cheryl Abney, Alumnae Association treasurer.

Designated Scholarship

Joanne Fitts

Elayne Walker-Cabral Medical Scholarship Endowment

“This scholarship will forever help MET students, and Mrs. Elayne’s legacy of helping students will continue forever as well," says Idalys Perez, who started this fund.

Donor advised fund 

Joanne and Richard Friday

Cherry Family Fund

"This (the Foundation) is the place we need to be. Through this fund, we can make our philanthropy work better and do more to help others,” states Melanie Cherry.

Organization endowment

Boys & Girls Clubs of Warwick

East Side Branch YMCA Fund

“We’re trying to get kids (at the East Side Branch YMCA) who can’t afford Y membership into the swim program,” states Steven O’Donnell, CEO of the YMCA of Greater Providence. 


LocationOne Union Station
Providence, RI 02903


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