Fund Options

Whether you want to organize and focus your giving, support a specific cause, help make Howard County better for future generations, provide scholarships for students or lend a helping hand to people in need, the Community Foundation of Howard County can help. At CFHoCo, we offer many different options for your giving, and we can tailor strategies to your personal situation.

Compare Fund Options

    Unrestricted

    Unrestricted

    Unrestricted Funds provide the greatest flexibility in responding to the community’s changing needs. Donors place no restrictions on how such funds may be used allowing the Foundation to address the community’s most pressing needs as they emerge. Income from unrestricted endowment funds is the primary source of funding for the Foundation’s Community Grants program.

    Field-of-Interest

    Field-of-Interest

    By establishing a Field-of-Interest Fund, you can target your gift to address needs in an important area of community life – arts, youth, substance abuse, education, the environment and more. You identify your personal interest area when making your gift; our Board awards grants to community organizations and programs that are making a difference in the program area you select. Your gift stays flexible enough to meet community needs in your interest area-even as they change over time.

    Donor-Advised

    Donor-Advised

    Establishing a Donor-Advised Fund allows you to make a gift to the Community Foundation of Howard County, then remain involved in suggesting uses for your gift. Gifts are tax deductible at the time they are made to the Foundation even though distributions to other charitable organizations may be made over many years. You can work with our staff to suggest ongoing uses for the fund-targeting the issues you and your family care about most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It’s a simple, powerful, and highly personal approach to giving – and a great way to involve your entire family in philanthropy.

     

    Donor Suggestion Form

    You can make a difference by right-clicking to download and complete our Donor Suggestion Form and submitting to Grants@CFHoCo.org

     

    Designated

    Designated

    Establishing a Designated Fund allows you to support the good work of one or more of your favorite nonprofit organizations-a senior center, museum, university or virtually any nonprofit charitable organization. Your gift provides the organization of your choice a sustainable source of income for years to come. Grants are distributed annually to the designated recipients.  However, if any of the designated organizations should cease to exist, the Foundation will ensure that the fund continues the donor’s charitable objectives.

     

    Nonprofit Agency Endowment

    Nonprofit Agency Endowment

    Nonprofit organizations also can establish an endowment fund at the Community Foundation of Howard County. A nonprofit endowment fund is a simple and effective way to take advantage of the foundation’s professional investment management services while building a perpetual source of funding and promoting sustainability for your nonprofit. In addition, experience has shown that the permanency of CFHoCo’s mission reassures many prospective donors who value the stewardship that the foundation provides against a change in the status or fortunes of a nonprofit or agency in the future.

    Click here to view the list of Howard County nonprofits that currently have Nonprofit Agency Endowment Funds.

    Scholarship and Award

    Scholarship and Award

    Some donors honor or memorialize a loved one or a retiring employee by creating a scholarship or award program to help further the education of deserving students based on criteria established by the donor. The Community Foundation of Howard County provides the expertise to help you meet your personal goals and handles the administrative details. Click here to see scholarships currently available through the Foundation.

     

    Temporary Memorial

    Temporary Memorial

    When a loved one dies, we recognize that it’s a trying time with many decisions to be made.  Deciding on the beneficiary of charitable gifts made in memory of your loved one doesn’t have to be one of them. A Temporary Memorial Fund is a free service offered by the Community Foundation of Howard County to facilitate charitable giving in memory of a specific individual.  It serves as a tax-exempt repository for memorial gifts for a period of one year from the date the fund is started. The Foundation will acknowledge gifts and provide gift receipts to donors for income tax purposes. Fund representatives will receive notification of gifts made to the Fund, with names and addresses of donors, along with any notes of condolences sent by the donors.

    At the end of the one-year period, or earlier if desired, Fund representatives will have the opportunity to discuss options for distributing the funds or creating a permanent memorial.

    For more information or to start a Temporary Memorial Fund, call us at 410-730-7840 or e-mail Beverly White-Seals.

    Giving Circles

    Giving Circles

    Giving circles enable friends and family members to pool their money to start and maintain a charitable fund. They are typically organized around a particular issue or area of interest, such as women’s issues, quality of life or the environment and are considered a high engagement form of philanthropy, because donors usually participate in collective decision making and educational activities. One example is the Women’s Giving Circle of Howard County, a fund started by a community of local women philanthropists who are strategically pooling their funds and leveraging their dollars to help women and girls in Howard County.

    Supporting Organizations

    Supporting Organizations

    A tax-wise alternative to a private foundation, supporting organizations are individual 501(c)(3) public charities under Section 509(a)(3) of the tax code. Although they have their own tax ID number and donations receive the maximum level of tax deductions (as with a donor-advised fund), each supporting organization is covered under the umbrella of the Community Foundation of Howard County, and the supporting organization’s grants and activities must fulfill and support the charitable purposes of CFHoCo. The Foundation handles all of the administrative oversight including the IRS-mandated tax returns and annual audits.