A Donor Advised Fund is ideal for donors who want to support multiple organisations and programmes throughout the year. Bermuda Community Foundation (BCF) staff can help to identify programmes of interest, vet them, process grants and report back to the donor with an impact report. This is an excellent way to establish a fund that bears your company or family name.

Donor Advised Endowment Fund

An endowed donor advised fund allows a donor to maintain the ability to offer recommendations regarding the recipients and dollar amounts of grants distributed from the fund. These funds are endowed and the principal shall not be invaded. Donors may distribute amounts determined annually based on the Spending Policy determined by the Board of Directors, typically approximately 4.5% of the value of the fund annually.

Donor Advised Pass-Through Fund

The donor advised pass-through fund allows donors to recommend some, or all of, the principal of the fund be distributed to organizations within Bermuda.

• Fund Type

  Donor Advised

• Fee Endowed (Annual)

  2%

• Fee Non-endowed

  5%

• Fund Minimum

  $25K endowed; $50K non-endowed

Donors may use Field of Interest Funds to support specific areas prioritized by the community foundation such as the arts, children and youth, the environment, the elderly, or health and human services.  Within these broad fields, the Board of Directors has the flexibility to make grants that address the current and changing needs of the community.  The community foundation’s Field of Interest Funds’ advisory committees make grant recommendations to the Board for final approval.

• Fund Type

  Field of Interest

• Fee Endowed (Annual)

  2%

• Fee Non-endowed

  2%

• Fund Minimum*

  $25K endowed;
  $50K non-endowed

Income from a designated fund is given annually to specific named charitable organizations. If the named charity is no longer active or providing a needed service, or if the purpose of the fund becomes impractical or impossible to fulfill, the Board of Directors of the community foundation may select another recipient with a similar purpose.

• Fund Type

  Designated

• Fee Endowed (Annual)

  1.5%

• Fee Non-endowed

  N/A

• Fund Minimum*

  $25K endowed

A nonprofit can create an agency fund in the form of an endowment to support its own operations and programmes. The professionally managed fund is a valuable vehicle for donors who like to plan their giving, for example via payroll deductions that go towards a designated nonprofit. BCF manages the endowment in perpetuity, enabling the nonprofit organisation to focus fully on serving its constituents.

• Fund Type

  Agency

• Fee Endowed (Annual)

  1%

• Fee Non-endowed

  5%

• Fund Minimum*

  $10K to start; no pay-out until it reaches $50K                   $25K endowed;

A Cedarberry Fund allows donors who are not yet able to make the minimum required commitments for donor-advised endowment funds, to build a fund over time. This fund requires an initial seed investment of $2,500 with a pledge of additional investments. When the fund reaches maturity for this fund-type (a core balance of $10,000), the Cedarberry Fund matures to become a permanent endowment, at which point BCF staff work with the donor to determine the fund’s giving priorities.

• Fund Type

  Cedarberry (Emerging Philanthropists)

• Fee Endowed (Annual)

  1% until it reaches $10K;
  2% upon launch as endowed DAF

• Fee Non-endowed

  N/A

• Fund Minimum*

  $2,500 to open; no grants can be made until the fund matures at $10K

The Administrative/Operating Fund provides financial support for the day-to-day programs and operations of the community foundation.  Contributions for the establishment, long term growth and prospects of the community foundation allow the foundation to administer donor funds in perpetuity. Contributions to this fund leverage critical matched donations from key funders.

• Fund Type

  BCF Operating

• Fee Endowed (Annual)

  1%

• Fee Non-endowed

  As per BCF Policy

• Fund Minimum*

  $25K to establish a named fund, the returns of which would go towards BCF's administration forever. Contributions in any amounts, alrge or small, can be made to BCF and are acknowledged annually as contributions to the fund.

Unrestricted Funds—endowed or non-endowed—provide grants that respond to the most pressing community needs. These funds are flexible and will thus be available to meet unanticipated needs and emerging issues as they arise. This fund is ideal for donors who want their philanthropy to meet critical needs of the day—and of years to come.

• Fund Type

  Unrestricted

• Fee Endowed (Annual)

  1%

• Fee Non-endowed

  As per BCF Policy

• Fund Minimum*

  $25K to establish a named fund, the returns of which would go towards BCF's administration forever. Contributions in any amounts, alrge or small, can be made to BCF and are acknowledged annually as contributions to the fund.