Donor Advised Funds: Donors seeking active involvement in grantmaking can open up a donor advised fund at the Foundation. Donors make an initial contribution starting at $10,000 and receive an immediate tax deduction. The donor can then direct grantmaking at his/her leisure.  

The Foundation manages the fund administration and record keeping, including check writing and nonprofit due diligence. The fund holder is provided with a diverse range of mutual fund investment options through Vanguard Group. Many fund holders name additional family members as advisors, thereby creating a legacy of philanthropy for children and other family members.

Scholarship Funds: Creating a scholarship funds enables donors to support any level of education through scholarships, stipends, or fellowships to students attending a particular school, studying a particular field, or living in a certain geographic area. Many scholarship funds memorialize the life and work of an exceptional individual or group of individuals.

The minimum contribution to open a scholarship fund is $10,000. All contributions to scholarship funds are 100% tax deductible. The Foundation invests the funds, provides record-keeping services, and can work with you to set up criteria and establish a committee to oversee a competitive award process.

Additionally, each scholarship fund receives it own webpage to help coordinate fundraising and promotion. 

For questions or to open up a donor advised or scholarship fund, please contact Alex Villari at 718.246.6886 / avillari@bcfny.org.