The Value of Philanthropy to the Local, Greater, and Global Community
The Key Biscayne Community Foundation helps people who are philanthropic and who understand the value of charitable work to give effectively through donor advised funds and other fund options. As a donor, you start a fund with the Community Foundation to support your many charitable causes. Your gift is invested and grants from your fund support the projects that matter to you. The grants carry your name.
As donor with a fund at the Community Foundation, you receive the tax benefits from giving immediately but can suggest grants over time. Think of it as having your private foundation without the burden of incorporation and administration. The Community Foundation ensures that your philanthropy endures, creating a lasting legacy.
The Key Biscayne Community Foundation offers several kinds of funds. You can choose the one that best fits your charitable goals, whether you want to support a wide range of organizations or focus on supporting specific organizations or issues.
Donor Advised Funds
These allow an individual, family, or business to contribute assets to a fund and recommend grants at any time to support qualified nonprofit agencies, schools, or congregations. They are a personalized way to support organizations of your choosing.
Designated Beneficiary Fund
A Key Biscayne Community Foundation Designated Beneficiary Fund supports one or more specific organizations, which can be a nonprofit group, school, or congregation. Your hand-picked organizations are specified at the inception of the fund.
Field of Interest Fund
Target your gift to address needs in an important area of interest: education, the arts, healthcare, etc. Identify your personal interest area when making your gift, and the board awards grants to agencies or programs making a difference in that area of interest.
Giving Circle Fund
Giving Circles allow groups of individuals to pool their funds to create a greater impact. Giving Circles seek to increase their awareness and engagement in the process of giving, as well as to impact their local, greater, or global communities.
Leadership and Impact Fund
This is an option for donors who choose to support the Foundation’s efforts to address local needs in ways that are determined by its Board of Trustees and staff. This gives the Foundation latitude over the years to direct grants based on evolving community needs.
Organization Fund
These are designed for nonprofit groups, schools, or congregations as part of their fundraising strategy. Often this type of fund provides organizations a way to establish an endowment into which individuals can make contributions.
Legacy Fund
Donors as part of their estate planning establish these funds. Typically, all or part of the donor’s estate is left as a bequest to a charitable fund at the Foundation.
The fund becomes a vehicle for accomplishing the donor’s charitable wishes after they pass.
Scholarship Fund
KBCF Scholarship Funds use a prescribed set of objective criteria to select individuals who receive scholarships. A committee makes recommendations about the recipients.
An individual or a group may establish scholarship funds.
Supporting Organization Fund
These are separate nonprofit corporations that operate under KBCF’s charitable umbrella. Through its own board, a supporting organization determines its own investment strategy and grant priorities. Supporting organizations are an excellent alternative to a private foundation, with only a fraction of the administrative responsibilities.