To accomodate the various interests and needs of donors, the Mankato Area Foundation offers different types of funds.
Through an unrestricted fund, donors help meet Greater Mankato’s current and future needs by making a gift that pools with the hundreds of other donor contributions to support the Foundation’s discretionary granting program. Grant making decisions are based on the Board of Directors’ recommendations.
Through a designated fund, donors can provide ongoing financial support for one or more projects or purposes. We invest and distribute the income in the form of grants to organizations, programs and individuals that match their interests.
Donor Advised Fund
Through a donor advised fund, donors can have a voice in their philanthropy and receive benefits similar to a personal or family foundation without the administrative duties. They recommend organizations and programs they want to support, or we can assist them in identifying organizations to support. The Foundation handles all of the grant administration. They can contribute to the fund when it is most convenient for them and, subject to IRS rules, receive a tax deduction for their contribution. What’s more, they can appoint others, such as their children or grandchildren, to serve as advisors and share in their family’s tradition of giving and growing a legacy.
These funds allow donors to create a legacy of giving to individuals with educational goals. MAF works with donors to develop criteria and monitor the selection process.
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