The Bozeman Community Foundation (hereafter the Foundation) generally maintains three types of endowment funds: donor advised, general endowment and restricted

Donor Advised Fund

As the name implies, the donor, or a successor family member, has the ability to recommend grants to qualified nonprofit organizations on an annual basis. Donor advised funds offer donors a simple, organized, inexpensive and flexible way to give. Donors are able to see the impact of their gifts during their lives.

To keep administrative costs low, donor advised accounts are established with a minimum amount of $25,000. You, however, need not contributed the $25,000 all at once. Contributions of less the $25,000 are pooled in the General Fund until the minimum level is achieved.

Example: (see the Mr. And Mrs. Herbert Kirk example)

General Fund

If you want to contribute to the Foundation's endowment fund, but do not want to contribute the $25,000 minimum for a donor advised fund, or perhaps do not want to be responsible for annual advising, you can contribute to the Foundation's general fund. Annually the Board of Directors will make contributions from the earnings of the fund to various nonprofit organizations in the community.

Restricted Fund

A restricted fund is established with the restriction that earnings on funds so donated will always be distributed to a particular nonprofit organization. The fund may be created by the charity itself, or by a supporter of that charity.

Example: (see the Liberty Place example)

Operating Fund

If you would like to contribute to the Bozeman Community Foundation but do not care to contribute to an "endowment fund", you can contribute to its operating fund. The fund is used to pay the Foundation's operating expenses. If the Board of Directors determine that the Foundation has excess funds in the operating account, it can use the excess funds to supplement or make additional grants to qualified nonprofit organizations.