We're here to help!
Contact Ellen Tolleson Hegge at 507-424-2407 or ellen@rochesterarea.org with any of your questions about opening or giving to a fund.
Start a New Fund
Starting a fund at Rochester Area Foundation is an easy and effective way to maximize your community impact!
Key Benefits of Starting a Fund
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Your giving starts today; your fund can last forever
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Receive maximum tax benefits
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Eliminate administrative overhead associated with a private or family foundation
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Work with professional, knowledgable staff to help you do your giving, your way
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Secure online access to make your gifts and monitor your fund activity
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Be assured of sound investment practices
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Donors determine level of recognition
“We have worked hard and been fortunate, and we see our fund as a way to set aside philanthropic dollars now during our peak earning years so later on, during retirement, we are still able to give robustly from those funds. Everyone wants to leave a legacy. For us, our fund is a great tool to make a difference with charitable organizations with whom we have a special attachment.”
Types of Funds
You can start and contribute to your fund with a wide variety of assets, including non-cash gifts. RAF can facilitate gifts now, gifts throughout your lifetime, as well as gifts through your will or estate plan.
Donor Advised Fund
Field of Interest Fund
A field of interest fund supports Rochester Area Foundation’s competitive grantmaking to nonprofits achieving positive results and impact in the greater Rochester area.
Designated Fund
A designated fund provides support for a specific nonprofit or program you care about. Endowing your donor designated fund provides a consistent stream of income in perpetuity, while a non-endowed designated fund’s principle can be spent.
Scholarship Fund
RAF will work with you to draft scholarship criteria that meet your specific objectives. Scholarships can be crafted in a variety of ways, including but not limited to:
- Students with a demonstrated academic ability and/or financial need
- Students from a particular area or high school (i.e. John Marshall High School, Olmsted County, etc.)
- Students concentrating on a particular field of study
- Students from underserved communities
Many donors also choose to actively participate in the selection of scholarship recipients by becoming a member of their scholarship’s Selection Subcommittee. With your input, the RAF Scholarship Committee appoints this subcommittee and relies on its input to award scholarships from your fund, according to your stated criteria.