Types of Funds

As a public charity, LBCF helps individuals, families, agencies, nonprofit organizations, and businesses manage their philanthropic giving through various fund types. Contributions may come from cash, securities traded on major exchanges, closely-held stock, mutual fund shares, retirement plan assets, real estate, and limited partnerships.

LBCF currently manages the following types of funds:

  • Established to benefit or support unspecified charities focused on a particular issue, region or population – as broad or narrow as donor wishes
  • Although the donor chooses the field, the community foundation selects the most appropriate organization or program within the field based on the needs of the community.
  • The fund may or may not be endowed*
  • Download Field of Interest At a Glance onesheet

  • Established with a gift or bequest to benefit a specific charity
  • Often set up by nonprofit organizations as part of their fundraising strategy
  • The fund may or may not be endowed*
  • Download Designated Fund At a Glance onesheet

  • Designed to be used by nonprofit organizations for endowments or other specific purposes
  • Fund may or may not be endowed*
  • Download At a Glance onesheet

  • Restricted
    • Created with specific criteria outlined by the donor
    • Recipient organization manages the scholarship award process according to the donor’s wishes
  • Committee Advised
    • Created with specific criteria outlined by the donor
    • LBCF or other advisors convene a committee to manage the award process according to the donor’s wishes
  • Download Scholarship At a Glance onesheet

  • Similar to a Donor Advised Fund with the exception that a committee of advisors convenes with a pre-determined frequency to decide the recipients of the grants

  • Pool resources and increase community impact with charitable dollars
  • Established by donors who wish to claim an immediate, full tax deduction for their contribution and recommend grants over time
  • Allows contribution of assets at any time
  • LBCF performs due diligence to ensure nonprofit grant recipient is valid and in good standing, issues the checks on your behalf, provides quarterly fund statements, and assists as requested in an advisory capacity on which nonprofits meet your charitable intent

  • Typically a short-term fund set up in partnership with various organizations to accommodate public participation in solutions to our city’s changing needs
  • Examples are the Press-Telegram Send-a-Kid-to-Camp Fund and the ACE Academy of Long Beach Fund

Contributions are planned from a future source such as a will, trust, retirement account, or insurance policy.

Visit our Giving Legacy website for more resources.

Charitable Remainder Trust

  • An irrevocable trust in which donors transfer cash or assets to a trust from which they are entitled to receive income payments annually for life or a defined period (not to exceed 20 years)
  • LBCF is named as the beneficiary of any funds remaining upon death of the donor

Charitable Gift Annuity

  • A contract between a donor and LBCF, whereby the donor transfers cash or property to LBCF in exchange for a partial tax deduction and a lifetime stream of annual income from LBCF. The amount of the income stream is determined by many factors including the donor’s age and LBCF policy
  • When the donor dies, remaining assets accrue to LBCF

Legacy Fund

  • Parameters are outlined with a Memorandum of Philanthropic Intent which is referenced in a will, trust, or another funding source. The fund is officially established when funds are received upon the death of the donor

*Endowment = Assets invested for the long term to provide a current source of income from the compounded effect of interest, dividends, and capital appreciation. Endowments are designed to last forever since the principal investment is never spent.

Visit our Legacy website for extensive gift planning resources
or contact us at (562) 435-9033.