DCF Administers Nearly 150 Endowment Funds
The Dearborn Community Foundation (DCF) administers a total of more than 130 endowments and non-permanent funds. Donors’ wishes vary from the granting of scholarships in the name of a deceased loved one to donor-advised endowments that provide assistance to a particular non-profit organization or cause.
By establishing an endowment, a donor’s gifts and/or bequests are invested to create a source of income for a fund in perpetuity. Options for endowment funds at DCF include:
Advised Funds: The donor and often the donor’s family or designated advisory committee participate in the grant-making process by recommending grant recipients to the DCF Board of Directors.
Designated Funds: The donor specifies one or more organizations to receive grants year after year. DCF monitors the grants to ensure that the donor’s original objectives are fulfilled. Local nonprofits also choose to establish endowments funds at DCF to help assure the future of their organizations.
Unrestricted/Community Funds: Donors who establish this type of fund recognize that the pressing needs of their community change over time and do not specifically designate grants that support a particular agency, cause or area of interest. This type of fund allows the DCF staff and board to address the most critical needs of area residents. These donors are establishing permanent and responsive legacies in their community.
Field of Interest Funds: The donor specifies a grant-making area of interest, then DCF makes grants to organizations that serve that interest. Some scholarship and grant funds at DCF are field of interest funds.
Scholarship Funds: DCF has a growing number of scholarship funds that were established to help deserving students pursue educational opportunities and/or to memorialize a loved one who has passed away. The Foundation works closely with local schools and families to award scholarships to students.