Falling in Love with the Right Fund for You

Mitzi Richards - Director of Philanthropy - GMCF

?Valentine’s Day is a time to celebrate what, and who, we love most. It’s also a perfect moment to reflect on how your charitable giving can reflect your heart, your values, and the causes that matter most to you.

At the Greater Manhattan Community Foundation, we know that philanthropy is deeply personal. Choosing how you give is just as important as choosing where you give. Whether you’re considering establishing your very first fund or adding another to complement the ones you already have, taking a fresh look at your options can help ensure your giving story feels just right.

Donor-Advised Funds: A Flexible Foundation

Think of a donor-advised fund as a great first date that turns into a lasting relationship. It’s one of the most popular and flexible charitable tools, allowing you to support a wide range of nonprofits over time, on your schedule. You can contribute cash, stock, or other assets and receive an immediate charitable tax deduction, then recommend grants to your favorite IRS-qualified charities whenever you’re ready. You can even choose the fund’s name and decide how much personal information is shared. Simple, organized, and adaptable, what’s not to love?

Designated Funds: Committed to “The One”

If your heart is set on supporting a specific organization that has shaped your life, a designated fund may be the perfect match. This type of fund provides ongoing, reliable support to a single nonprofit, helping ensure its stability and future impact. It’s also a smart way to “bunch” multiple years of giving into one tax year while continuing support over time. And for donors age 70½ or older, designated funds can receive Qualified Charitable Distributions from an IRA, an added benefit that donor-advised funds don’t offer.

Unrestricted & Field-of-Interest Funds: Loving the Community as a Whole

Some donors are motivated by a broader love, supporting the community’s greatest needs, today and tomorrow. Unrestricted funds allow the community foundation to respond where help is needed most, whether during times of crisis or opportunity. Field-of-interest funds offer a similar approach while letting you focus your giving on a specific passion, such as education, the arts, or emergency assistance. Both options create a legacy and, if you’re age 70½ or older, are eligible recipients of Qualified Charitable Distributions.

A Portfolio Approach: Love Grows Over Time

Just like any meaningful relationship, your philanthropy can evolve. Many donors choose to establish more than one type of fund, creating a thoughtful mix that reflects both their personal passions and their commitment to the broader community.

Wherever you are on your charitable journey, we’re here for you. It’s our privilege to partner with you, offer guidance, and help your generosity make a lasting impact. This Valentine’s Day, and all year long, we’d love to talk with you about the giving approach that feels like the perfect fit. Let’s start a conversation – I’ll bring the chocolate!