RRCF has a variety of fund options to meet your charitable goals

All funds have a minimum gift level of $10,000 or more.  Administrative fees are based on the size and type of fund you create (please refer to the Administrative Fee Schedule.) And in all cases, assets donated to establish the fund become the property of RRCF and are controlled by the RRCF board. However, if a donor wishes to remain involved with the fund in making grants, he/she may establish the fund as a Donor Advised fund.

Things to know:
  • RRCF encourages donors to remain involved by adding to their fund at any time, helping to promote the fund and encouraging others to make contributions.
  • Your fund can be named for your family or someone close to you.
  • You receive a tax deduction for the gift(s) because the Foundation controls the assets.
  • If you create a donor-advised fund, you can name a second generation of donor-advisors to continue a legacy of grant-making.

Donor Advised Funds

A Donor Advised Fund (DAF) allows donors to play an active role in grant-making without incurring the paperwork, taxes and administrative headaches of establishing and maintaining a private foundation. Donor Advised Funds can be established by an individual, a business or any group of people who share charitable interests.

Grants from DAFs can be made only to qualified charitable organizations as defined in Section 501 (C) 3 of the Internal Revenue Code.

Some of our fund advisors

Designated Funds

Donors who have a passion for a specific program or organization may establish a fund to benefit only that organization or program. Donor Designated Funds are similar to Donor Advised Funds. They differ in that disbursements from the fund are established at the time of the fund’s creation and do not require ongoing action on the part of the original donor:

  • The donor makes one or a series of irrevocable gifts to RRCF to establish the fund.
  • The donor identifies one or more public charities to be the beneficiary of distributions of the fund’s income (or principal and income) and the desired terms of those disbursements.
  • Per the terms of the agreement, regular disbursements are made from the fund and in the event that one of the original beneficiary charities ceases to exist, the foundation will redirect that support to a public charity with a similar mission.

Donor Designated Funds are a good option for donors wishing to establish long-term support of the organization(s) or causes they care about, or to establish a legacy giving vehicle that will exist in perpetuity.

Field of Interest Funds

Perhaps a donor wishes to benefit a broad area, such as the arts, the environment, homelessness, or at-risk kids. Rather than naming a particular organization as the beneficiary, donors would then establish a Field of Interest Fund to address whatever broad area of need they hope to impact in a positive way. This is a good option for donors who care about specific issues and wish for the foundation to address those issues via the most effective means possible.

Unrestricted Funds

Oftentimes, donors have a passion for helping others but would prefer to leave the grants open-ended and let the foundation use the fund’s resources toward the area of greatest need. This is a good option for donors who wish to create a philanthropic legacy that will grow and change with the community and the foundation.

Scholarship Funds

RRCF is a champion of good education to prepare our young people for the future or those changing careers or going back to work after a long hiatus. Therefore, we offer options for donors who share an interest in providing educational opportunities.

  1. Donors may establish a new scholarship fund which identifies a specific educational organization to which grants will be made.  In this case, the entire scholarship process is managed by the educational institution receiving the grant and not by RRCF.
  2. Donors may also establish a scholarship fund from which awards will be made through RRCF.  In this case, the donor can stipulate requirements the scholarship applicant must meet, but by law cannot have the deciding vote on who receives the award.  The Foundation has a very active Scholarship Committee that reviews and awards these scholarships. Donors are given the option of joining the committee.

Agency Funds

Many nonprofits recognize the benefit of partnering with the Renton Regional Community Foundation and choose to pool their funds with ours.  The Foundation provides a number of important benefits:

  • a broader platform from which to promote your cause;
  • networking opportunities with potential donors and other nonprofits/funds;
  • pooled investments for your fund;
  • online credit card processing service to encourage more donations;
  • back office gift processing services.

A fund with RRCF allows the nonprofit agency board to concentrate on priority needs within their organization and to serve as a bridge from the community foundation to the rest of the community. Agency funds are controlled by the Foundation but can remain the property of the agency and therefore can be carried on their balance sheet and/or returned to the organization at any time.

Renton Innovation Zone Partnership (RIZP) has a fund with RRCF

Fiscal Sponsorship Funds

The Renton Regional Community Foundation applauds the efforts of people who mobilize towards meeting an urgent community need. Oftentimes, these groups intend to exist only to achieve a singular goal and then disband. Other groups start out small but hope to create a lasting organization. In either case, applying for and obtaining tax exempt status can be a lengthy and expensive process.

RRCF might be able to help.

  • RRCF approves a limited number of “fiscal sponsorship” funds that extend our tax-exempt umbrella over an emerging organization that is actively fundraising, but has not yet sought tax exemption under the IRS.
  • These groups must fill out a Fiscal Sponsorship Application and be approved by the RRCF Board. The board will consider the level of group commitment, organizational structure, and ability to fulfill their goals and objectives. If approved, the group must follow specific guidelines in all fundraising efforts in order to protect RRCF’s tax exempt status.
  • Fiscal sponsored funds are established with a minimum $10,000 gift (or the ability to achieve that level within a certain amount of time). In most cases, the Foundation extends this benefit for a limited time, encouraging the group to eventually obtain their own tax-exempt status.

Please contact the Foundation office at 425-282-5199 if you need more information on Fiscal Sponsorships.

The Awarding of Grants

When funds are donated to RRCF, the donor receives a tax benefit. Therefore, donated funds become the property of the Foundation. As such, when grants are made, the Foundation Board must approve the grant and be recognized along with the specific fund from which the grant is made. However, we often find ways to involve the donor with the presentation of the grant, should that be something he/she wishes. RRCF also honors a donor’s wish to remain anonymous.

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