Achieve Your Charitable Goals

If you wish to leave a legacy which will benefit our community as a whole, setting up an unrestricted fund at the Community Foundation is the charitable solution for you. Our Community Opportunity Fund is a permanent, civic endowment for our region, and has been making grants to meet our community’s needs since 1982. Our Community Opportunity Fund enables us to be responsive to our region’s most pressing needs. Our grantmaking focuses on three strategic areas: Opportunity, Resilience and Belonging. 

We also offer unrestricted funds in each of our four affiliate regions: Two Harbors, Eveleth, Cook County and Apostle Islands/Chequamegon Bay.

The minimum to set up a named unrestricted fund is $10,000.

Donor-Advised Funds (DAFs) allow individuals, families, and organizations to manage their giving effectively by recommending grants to the organizations and causes they care about most. By consolidating all charitable giving into one fund, administrative burdens are greatly reduced. A DAF streamlines the donation process, enabling donors to contribute various assets (cash, stocks, real estate) and recommend grants to multiple charities without the need for individual transactions.

DAFs offer a meaningful way to involve family members in charitable activities. Establishing a legacy of giving becomes more accessible by engaging multiple generations in philanthropy through a single fund.

The minimum contribution to establish a Donor-Advised Fund is $25,000.

Field-of-Interest Funds serve donors who wish to rely on the expertise of the Community Foundation to determine the most effective use of their fund to address problems in a particular area of interest, such as education, food security, housing, environment, or the arts. Donors can create a separate field-of-interest fund or support one which already exists. Donors rely on the Community Foundation's knowledge of regional needs to distribute funds effectively. Grant recipients are determined by the Community Foundation’s existing committees and according to the criteria set forth in the fund agreement.

The minimum contribution to establish a Field of Interest Fund is $100,000.

The Community Opportunity Fund is a permanent, civic endowment for our region, and has been making grants to meet our community’s needs for over forty years. This unrestricted fund enables us to be responsive to our community’s most pressing needs. Designed to support transformative, collaborative projects leveraging resources for upstream successes, our grantmaking focuses on three strategic areas: Opportunity, Resilience and Belonging.

If you want to impact our community as a whole, the Community Opportunity Fund is the right giving solution for you.

The Community Opportunity Fund began with a generous grant from the Bush Foundation in 1982, and since then, hundreds of individual donors and organizations have contributed to it. We are extremely grateful for the partnership of so many generous individuals and organizations who have entrusted the Community Foundation to meet our community’s most pressing needs through this fund.

A designated fund is a great way for donors to support specific charities long-term. By setting one up, you can make sure your favorite nonprofits—like a school, healthcare facility, or cultural institution—receive ongoing financial support year after year.

The Community Foundation manages the investments, growing the fund while providing regular grants to the chosen organizations. Plus, contributions are tax-deductible, so you get the added benefit of reducing your taxable income while making a lasting impact on causes you care about.

The minimum contribution to establish a designated fund is $25,000.

An Organizational Endowment Fund with the Community Foundation is like a safety net for your organization’s finances. Just like personal investments, having a permanent fund can bring in extra income each year. The best part? The fund grows over time, creating a reliable source of income that helps stabilize your finances in the long run.

Other financial benefits include:

• Allows your organization to focus on its mission and other priorities.
• Assures donors their conditions are perpetually met -- the fund agreement provides direction for the fund's use.
• Protection of your permanent assets from possible future Board neglect, shortsighted invasion, or improper use -- the Community Foundation serves as the guardian of the fund.
• The fund enjoys the advantage of being invested in a larger pool of assets, which can lead to greater growth, greater income, and lower investment fees.
• The Community Foundation handles investment management and oversight, all accounting and financial reporting, and the annual audit for funds held.
• Gifts to your organization’s endowed fund are tax-deductible at the highest levels allowed.

Opening a scholarship fund is a powerful way to create a lasting impact on students and their futures. These funds help provide educational opportunities for individuals of all ages, fostering growth and success. Aligned with our commitment to Opportunity, Resilience, and Belonging, our scholarships focus on need, equity, and potential, ensuring that every deserving student has the chance to thrive.

Types of Scholarships we offer:

Stand Alone Scholarship Fund: A permanently endowed fund that must pay for at least 25% of a student’s education costs (based on the current DSACF service area’s local colleges tuition costs). 

Pooled Scholarship Fund - Thrive Scholarship: A permanently endowed fund that gathers together smaller donations to create a larger pool of funds to impact many students. Donors may give gifts of any size and donors whose gift is $5,000 or more will be named a Partner. 

Spend Down Scholarship Fund: A fund that spends down, distributing maximum funds into the community and for individuals receiving scholarships. Scholarships must pay for at least 25% of a student’s higher education costs. These may or may not be invested as determined by DSACF.

Rates for Starting a New Scholarship Fund at Boreal Waters Community Foundation:
- A gift of $150,000 is required to establish a permanently endowed 2-year scholarship fund.
- A gift of $550,000 is required to establish a permanently endowed 4-year scholarship fund.

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