Unrestricted funds: These are our most flexible funds. Because they are not earmarked for a specific purpose, unrestricted funds allow the Foundation to keep pace with the community and meet its most pressing needs. Decision-making is entrusted to our Board of Directors.
Endowed Field-of-interest funds: Donors use these funds to address a specific need or to benefit a particular area of interest, such as the arts, education, health care, the environment, or services for children or seniors.
Designated funds and agency endowments: Designated funds support one or more organizations chosen by the donor. If a designated organization should cease to exist, the Foundation redirects income from the fund to another similar organization in accordance with the donor’s intent. Agency endowments are designated funds that have been established by not-for-profit organizations to provide a permanent source of funding to help secure their financial future.
Donor advised funds: These funds offer all the benefits of a private foundation without any of the tax burdens or financial responsibilities. As their name suggests, donor advised funds allow donors to recommend grants to support specific charitable organizations or causes. They can be permanent (only income is granted, and principal grows in perpetuity) or non-permanent (both principal and income can be granted).
Scholarship funds: Donors use these funds to help students realize their educational goals. Scholarship funds can be earmarked for any level of education and can benefit those who attend a specific school or choose a particular course of study.
Future funds: Future funds are established to fulfill the charitable wishes of members of our Legacy Society, who have informed us of their intent to include the Foundation in their estate plans.
The Niskayuna Community Foundation is an affiliate and geographic fund of the Community Foundation for the Greater Capital Region. A copy of The Community Foundation for the Greater Capital Region’s latest annual report may be obtained, on request, by contacting the Community Foundation, Two Tower Place, Albany, NY 12203 or from the New York State Attorney General’s Charities Bureau, 120 Broadway, 3rd Floor, New York, NY 10271.