Find the Right Charitable Fund to Match Your Giving Goals
At the Community Foundation of East Mississippi, we offer several types of charitable funds designed to support your unique approach to giving and help you achieve your philanthropic goals. Whether your passion lies in supporting the arts, education, youth and children, community development, or your place of worship, we can help you create a giving plan that reflects your values and interests.
Our team is here to guide you through the process, helping you choose a fund structure that best fits your charitable intent, whether you want to establish your own named fund or contribute to an existing one. If you’re not ready to start a fund of your own, we have many established funds that you can support today to make an immediate impact.
How to Get Started with the Community Foundation of East Mississippi
- Define Your Charitable Goals
What kind of impact do you want to make in East Mississippi or beyond? Do you have a specific nonprofit or cause you’d like to support? Or would you prefer the flexibility to address the emerging needs of our community over time? - Choose the Right Fund for You
We’ll work alongside you—and your professional advisor, if you wish—to determine the fund type that best aligns with your philanthropic vision and goals. - Decide How You’d Like to Give
You can contribute in many ways: cash, securities, real estate, or other assets. Each fund type has its minimum contribution requirements—see our fund types for details. - Name Your Fund
Your fund can reflect your personal legacy, family name, business, or a cause close to your heart, or it can be named in honor of someone special to you. - Complete a Simple Fund Agreement
We’ll guide you through a straightforward fund agreement that sets everything in motion—making your charitable giving purposeful, flexible, and lasting.
Not sure where to start? We welcome your questions. Give us a call at 601.696.3035 or send us an email at info@cfem.org. Our staff is ready to help you explore the options and take the first step toward your charitable vision.
Ways to Give
Any of these funds can be established in your name, your family’s name, or your organization’s name. An agreement to establish a fund can be prepared in just minutes and requires a minimum tax-deductible donation of $5,000.
- Endowment
A commonly accepted definition of an endowment is a fund invested and maintained in perpetuity to provide a stable income from earnings for the long-term benefit of an organization’s charitable cause.
- Spend Down
Also referred to as a supporting organizational fund, offers an appealing alternative to establishing a private foundation.- Maintains its own separate legal nonprofit status
- Maintains its board of directors
- Maintains its grantmaking policies
- Contributions earn maximum tax deductibility
- No minimum payout for grants
- No excise taxes are assessed
Types of Funds
Any fund may be either Endowed or Spend Down. Spend Down Funds permit distributions of up to the entire fund balance. Endowed Funds are invested in perpetuity for growth over time. Distributions from the funds may be made with the fund agreement, based on an annual “budget” amount established. An Endowment must have a minimum balance of $10,000 to begin making disbursements.
You may choose from these subtypes:
- Agency Fund
The Community Foundation of East Mississippi manages an Agency Fund on behalf of a nonprofit organization, church, or school seeking to build long-term support for its cause. - Donor-Advised Funds
Donor-advised funds are established by donors who wish to participate actively in the grantmaking process. Individuals who demonstrate a donor-advised fund recommend charitable projects or organizations they want to support. It is easy to give to multiple nonprofits through a donor-advised fund. Our Board of Directors is legally responsible for approving all grants. - Designated Funds
Donors who wish to support a specific agency or cause can establish a designated fund. If the original charity ceases to exist, becomes obsolete, or cannot perform its charitable purposes, our Board of Directors can redirect the funds to an organization providing similar services without the cost of expensive legal action. Many nonprofit organizations establish an endowment fund with us to grow assets that meet current and future needs. They look to our Board of Directors for strong investment oversight services, and ask our staff to manage all of the administrative details of the endowment. This can provide a relatively constant source of annual income and help maintain their mission in perpetuity. It also frees the nonprofits to focus on what they do best in the community. Donors can create a new designated fund or contribute to an existing one. - Field of Interest Funds
Field of interest funds are often established to support particular interest areas or specific program initiatives, causes, or geographic areas. At the donor’s request, use of the funds is restricted to a specified area of interest, but flexibility remains to meet changing situations. - Fiscal Sponsorship Fund A Fiscal Sponsorship is an arrangement with the Community Foundation of East Mississippi that allows a cause or project to receive tax-deductible donations, even if it has not yet obtained 501(c)(3) tax-exempt status under the Internal Revenue Code.
- Scholarship Funds
Many donors are attracted to creating a scholarship fund, which can be structured to benefit students at any education level or for a specific institution. A scholarship fund can also be established to honor a loved one. You determine the criteria students must meet to receive the scholarship you establish. - Unrestricted Funds
Unrestricted funds are not specifically designated for use by a particular agency, cause, or area of interest. Our Board of Directors oversees the use of these funds, setting priorities and determining how grants will be distributed to support the charitable needs of our community. Unrestricted funds allow us to respond to the community’s pressing and often changing needs.