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Fund Options |
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Take a moment to consider the important part you could play in the Defiance Area Foundation’s work by
creating a charitable fund. There are a number of ways to get started and we invite you to explore them
with your family, friends, and professional advisors.
The Foundation offers you a variety of ways to make donations to reach your philanthropic goals. You
can establish a fund either during your lifetime, or though your estate plan. All grants distributed to your
fund – today and in the future, are awarded to charities as determined in the fund guidelines. Your gift to
the Foundation may be made in many forms. Listed below are many ideas for vehicles of giving.
A cash gift is tax deductible as provided under current law.
Donations of publicly-traded securities are acceptable.
A bequest in your will is a simple way to leave a lasting legacy.
A life insurance policy can be changed to designate the Foundation as the owner and/or beneficiary of a
policy.
Retirement fund accounts are often your largest asset. You can give all or a part of these funds to the
Foundation, both during your lifetime and at your death.
A charitable remainder trust allows you to receive lifetime income. Upon your death, the remaining
principal creates a fund at the Foundation.
A charitable lead trust creates income for the Foundation for a specified time period after which the
remaining principal is distributed to named beneficiaries.
Transfer of a private foundation affords you many advantages, including lower overhead, staff to assist you
with your charitable goals, and other tax benefits.
To Establish a Fund – Follow Four Simple Steps:
- Define your charitable goals and decide if you want family members involved now or in the future.
Consider how much involvement you want in selecting the organizations that will receive grants
from your funds.
- Contact the Defiance Area Foundation to discuss fund options that best suit your interests and
needs. We can create a personalized plan for you.
- Determine which asset or giving vehicle you will use to start your fund.
- Select a name for your fund. Many donors choose a family name, or a name that honors or
memorializes a loved one or company name.
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RESTRICTED FUNDS |
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DONOR ADVISED FUNDS: Commonly accepted
definition is that it is a fund where the donor, or a committee
designated by the donor, may recommend eligible charitable recipients
of grants from the fund. The recommendations are advisory and the
governing body must be free to accept or reject them. This type of
fund allows the donor to support their favorite charities while
receiving a tax deduction in the year in which the gift is made and is
able to suggest distributions to specific charities over a longer
period of time.
The suggested minimum amount to establish this type of fund: $50,000. |
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AGENCY ENDOWMENT FUNDS: This type of fund is
created by a not-for-profit agency or organization contributing funds
to provide current income and long-term security for its operation.
The suggested minimum amount to establish this type of fund: $25,000. |
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FIELD OF INTEREST FUNDS: Either an individual
donor or a corporation may establish this type of fund to support a
specific area of the donors concern, such as education, the arts,
youth services, senior activities, etc. The governing board of The
Foundation uses income from these funds to benefit programs or
organizations within the field of interest specified by the donor.
The suggested minimum amount to establish this type of fund: $10,000. |
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DESIGNATED CHARITABLE AGENCY FUNDS: A donor may
establish this type of fund to assure support will be provided to
specific eligible organizations named by the donor, such as a church,
etc. If the organizations should cease to operate, the foundation will
continue the donor’s charitable objectives.
The suggested minimum amount to establish this type of fund: $10,000. |
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NAMED FUNDS: These funds are used to support
community needs, whether they be brick and mortar, or innovative
programs that support our mission: “To “Enhance, Enrich, Encourage and
Support the greater Defiance area.”
The suggested minimum amount to establish this type of fund: $10,000. |
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OPERATING / ADMINISTRATIVE FUND: This endowed fund would
provide support for the ongoing operations of The Defiance Area
Foundation.
The suggested minimum from a single donor: $1,000. |
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PROJECT FUND: This type of fund is established
as a partnership between the foundation and an organization for a
short-term charitable project. Funds of this type are not endowment
funds. Under normal circumstance, project funds will be depleted as
the designated project is finished. This is the only type of fund in
which contributions are spent.
An endowment fund must also be set up through the Foundation.
The suggested minimum amount to establish this type of fund would
depend on the proposed project. |
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SCHOLARSHIP FUNDS:
These funds are to be used to support the knowledge and future learning of a
student for educational purposes.
The suggested amount to establish this
type of fund is $25,000. |
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UNRESTRICTED FUNDS |
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NAMED FUNDS: These funds are used to support community
needs, whether they be through brick and mortar, or innovative programs that
support our mission: “To “Enhance, Enrich, Encourage and Support the greater
Defiance area.” The donor places no restrictions on how income from these
funds is to be used, leaving those decisions to the governing board of The
Foundation.
The suggested minimum amount to establish this type of fund: $5,000. |
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GENERAL UNRESTRICTED FUNDS: The Defiance Area
Foundation welcomes gifts of any denomination. Those gifts that do not fall
under any of the previous categories are deposited into the general
unrestricted fund and used to support a variety of grants within Defiance
County.
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Unrestricted Funds – Used to fund the majority of grants in Defiance County.
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The Defiance Area Foundation General Fund
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Beane Family Fund
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Brose Family Fund
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T.L. Hench Family Fund
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Restricted Funds - Used to benefit specific organizations as listed below.
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Black Swamp Area Council Boy Scouts of America — This fund was
established to benefit the Boy Scouts in Defiance County.
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Community Health Professionals Inc. — This fund was
designed to benefit Hospice and Defiance Area Visiting Nurses in Defiance County.
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Justin Coressel Fund — This fund was
established to provide up keep and maintenance for the Coressel Buildings at Auglaize Village.
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Defiance Public Library — This fund was
designed to fulfill the Mission of the Defiance Public Library.
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Defiance Metal Products Scholarship Fund — This fund was
designed to provide scholarships to Defiance Metal Products employees and their children.
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First Presbyterian Church Capital Improvement and Mission Trip Funds — These funds are used to benefit First Presbyterian Church.
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Hospice, The Caring Way of Defiance County, Auxilliary — This fund is to fulfill the Mission of Hospice, The Caring Way of Defiance County.
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Holy Cross Catholic School Endowment Fund — This fund was
designed to provide for on-going maintenance and support of the school.
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Sarah's House — This fund was
established to assist Sarah's House in supporting its Mission.
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Michael A. Schultz Leadership Fund — This mission of this fund is to promote leadership and development in Defiance County.
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The Jerry and Judy Wertz Family Fund — This field of interest fund will be used to promote and enhance the historical, architectural, economic and cultural heritage of The Defiance Ohio Area.
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Lisa R. Yoder Memorial Scholarship Fund — This fund was established to benefit first year college students who attend St. Michael's Catholic Church.
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