What is a Field of Interest Fund?
A field of interest fund is a charitable tool for the sole purpose of supporting charities you care about. Contributions to these funds are typically tax deductible.
The Delaware Community Foundation (DCF) uses its knowledge of Delaware to direct grants to organizations and programs that are making a difference in the area you select. Your gift stays forever flexible to meet community needs in your interest area — even as they change over time. When you open a field of interest fund, it becomes part of the DCF’s charitable resources for our community. You can be confident that the DCF will be here to honor and fulfill your charitable wishes in perpetuity.
How a Field of Interest Fund Works
- Open the fund with an initial gift to the DCF of $15,000 or more in cash or other assets, such as appreciated stock, mutual funds or real estate. Most establishing gifts are tax deductible.
- Name the fund for yourself, your family, or your business, or create a name that provides anonymity. The DCF can ensure your grants are made anonymously if you wish.
- Identify the field it will benefit. The DCF team will work with you to define your field of interest – such as “the arts in Delaware” or “children in need” – to drive the change you wish to see.
- Choose an investment strategy from the DCF’s investment pools, or ask about ways to keep your personal financial advisor involved.
- Each year, the DCF’s committee of engaged, knowledgeable community members awards grants from your fund to address the greatest needs in your area of interest.
- Add to your fund at anytime to take advantage of additional tax benefits while increasing the amount available for grants.
- Review your fund activity online.
The DCF handles all the administrative requirements of the fund, from investments to paperwork.
A field of interest fund at the DCF is a giving tool that empowers you to support a personal area of interest while recognizing that needs change over time. To begin the process of establishing your field of interest fund, please contact us at [email protected] or 302.571.8004.