Types of Funds
Donor Advised Fund:
Donor advised funds (DAFs) are a simple way for donors to give their money to programs and organizations. Donors will set up an account with Northfield Shares, deposit funds and assets, receiving maximum tax benefits and are able to direct how you would like the funds to be distributed. The fund is managed by Northfield Shares. As the sponsoring organization, Northfield Shares will take care of all the paperwork and fund distribution, making these funds a great option for donors who are passionate about specific organizations or causes.
Undesignated Fund:
Donations to an undesignated fund will give Northfield Shares financial flexibility to use these donations wherever the need is greatest. When making a donation to an undesignated fund, donors can be ensured in knowing their gift will make a difference in the work of Northfield Shares.
Designated Fund:
Donors may designate the use of their donations to a particular purpose or project, managed by Northfield Shares. Designated funds are required to be used in a specific window of time and/or for a specific purpose.
Setting Up Funds
Most funds managed by Northfield Shares are endowments, meaning the principal is retained and only the interest or earnings are spent. Named funds can be created under any of the fund types noted above, but require investment of $10,000 or more. Smaller contributions can be made to the operating fund.
Set up a Donor Advised Fund
Take the full tax deduction when you set up the account. Then the donor recommends the amount and the recipient for all income, on whatever schedule the donor decides.
Make a Gift of Securities, Stock, or Real Estate
Gifts of this nature can provide tax relief to some while providing opportunity to support our mission. Northfield Shares will invest the cash or the proceeds from sale of the other assets as they determine. Regular reports are made to the donor regarding the present value of the fund and any transactions which have occurred.
Donate by IRA
If you are 70 ½ years of age or older, own an IRA subject to a required minimum distribution(RMD), and are charitably inclined, donating through your IRA could be tax advantageous.
Make a Legacy Gift
Make a legacy gift to honor your life or the life of someone else. A legacy gift ensures your generous spirit and philanthropic interests live on for all time. Legacy or endowment gifts are never spent, instead they are invested to grow. The interest earnings are available to grant, giving your gift the power to impact the community forever.
Northfield Shares is a registered 501©3 nonprofit organization. All donations are tax deductible and final. Please contact us with questions.