Start a Fund

Gilroy Foundation makes it easy for you, your family, or your organization to start a separate charitable fund without the cost and administrative demands of funding a private foundation.

Funds can be endowed or non-endowed.  An endowed fund is a permanent fund that will serve the community in perpetuity.  Only 5% of the endowed fund’s balance is used for grantmaking each year.  A non-endowed fund can use any percentage of the fund’s balance for grantmaking and will close when the fund’s balance is eventually depleted.

The minimum amount to start a separate fund is $10,000. Consecutive annual donations via our membership program are another way to establish a fund. When those donations come to $10,000, a separate fund can be established.

We offer many types of funds for individuals, families, groups, or organizations:

  1. An Unrestricted Fund is utilized by the Gilroy Foundation Competitive Grants program to meet the current needs of the community.  These funds are endowed.
  2. A Field of Interest Fund can support your particular interests (e.g. education, the arts, youth sports, displaced families, etc.).  These funds are also utilized by the Gilroy Foundation Competitive Grants program.  These funds are endowed.
  3. A Designated Fund gives you a way to support your favorite charity with permanent annual support.  These funds are endowed.
  4. With a Donor-Advised Fund, you can suggest who the recipients will be each year.  These funds are endowed.
  5. Non-Profit Investment Partner (NPIP) Funds allow non-profit groups to invest reserves or capital campaign contributions through Gilroy Foundation.  These funds can be endowed or non-endowed. In addition, annual disbursals can be taken for the NPIP’s non-endowed funds use at any time.
  6. Scholarship Funds can be established to support local high school and college students.  These funds can be endowed or non-endowed.

Gilroy Foundation also offers donors ­Pass Through grantmaking and scholarship opportunities.  A donor gives a gift to the Foundation (plus a 5% administration fee) with their choice of agencies to receive a grant and/or scholarship criteria