Our donors make a major impact on the causes and organizations they support through their philanthropic work with CREATE Foundation. Whether its a donor supporting various causes through a Donor Advised Fund, or someone funding scholarships at their alma mater with their endowment’s earnings, the result is clear — lives are improved and positive changes happen when donors connect with the causes that are important to them.
Some of the funds that may be established at CREATE Foundation include:
Contribute to your fund and make grant recommendations on your own timetable. Gifts are tax deductible when you make the gift, but grants can be made anytime in the future. Tax records are simplified one receipt from CREATE versus several from your favorite charities.
A permanent fund that provides support for your chosen cause or organization in perpetuity is an endowment. The earnings are available for grantmaking each year.
Scholarship endowments can fund any level of education, a specific school, or students from certain counties.
Field of Interest endowments might support a specific charity, a church, or a civic activity in your community. Three CREATE families used their endowments to start the Tupelo Teachers of Distinction awards program, which has awarded thousands of dollars to teachers to encourage excellence in our public schools. The possibilities are many!
Many nonprofit agencies have organization endowments at CREATE. This type of fund helps support non-profits by providing yearly investment income. The principal remains intact to provide a permanent pool of founds to support the organization in the future.
An attractive alternative to forming a private foundation, the supporting organization has its own separate legal non-profit status, its own board, and its own grantmaking policies. Contributions earn maximum tax deductibility, there is no minimum payout for grants, and no excise taxes are assessed all due to its public charity status acquired through CREATE.
Special projects are temporary funds that allow an organization to operate as a charity while applying for their own 501(c)3 designation.
For examples of the different types of funds, please use the menu in the right column. We hope you are inspired to find your own “philanthropic voice”, and get involved with the causes that you value. We are here to help.