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Areas of Giving
Unrestricted Funds (proactive and responsive): Unrestricted funds are not specifically designated for use by cause or area of interest. Unrestricted funds give Advance Bristol the ability to respond to pressing and often changing needs in the community. The Board of Advance Bristol oversees the use of these funds and determines how they will be utilized and/or distributed, i.e., economic development initiatives, façade improvements, beautification and/or downtown development projects, housing developments, matching and/or collaborative grants, etc. This includes both endowed and non-endowed funds.
Donor Advised Funds (involved annual giving): Donor-advised funds are established by individuals, families and/or companies who wish to actively participate in Advance Bristol objectives. Donors recommend projects, community initiatives or other organizations they would like to see Advance Bristol support. It is easy to donate to multiple causes through a donor-advised fund. This is a non-endowed fund.
Endowment Funds (support in perpetuity): An endowment is a permanent fund that provides dependable, perpetual income to be used to support Advance Bristol programs, projects and/or community initiatives, or for other purposes specified by the donor(s) to the endowment.
Designated Funds (ongoing support): Donors who wish to support a specific project or cause can establish a designated fund. If the original project or cause ceases to exist, becomes obsolete or is unable to perform its initial intent, with the permission of the donor, the Advance Bristol Board is able to redirect the funds to another similar project or cause without expensive legal action. This is usually an endowed fund.
Field of Interest Funds (target specific issues): The donor decides the general purpose of the fund, such as economic development projects, arts/culture/history, downtown beautification improvements, business support and/or education initiatives, etc. Advance Bristol will identify projects and/or will work directly with other non-profit organizations and/or other community partners that are effectively accomplishing that goal, i.e., Believe in Bristol, Chamber of Commerce, school systems, local governments, developers, etc. At the donor’s request, use of the funds is restricted to a specified area of interest, but flexibility remains to adjust for changing situations. This is an endowed fund.
Scholarship Funds (educational support for students): Scholarship funds can be structured to benefit students at any education level or for a specific institution. Some donors choose to stay involved through advisory relationships while others name advisory committees to assist in the selection of recipients. The Advance Bristol staff will handle the necessary paperwork and ensure that the scholarships are distributed in an equitable manner. This is an endowed fund.