What is a Field of Interest Fund?
A Field of Interest Fund (FOI) supports a specific issue area of interest that you define. You identify an area of charitable interest – as broad or narrow as you desire – and the Santa Barbara Foundation evaluates organizations that do the best work in the interest area and then makes grants to the organizations that best fit your interest. You should think about setting up a Field of Interest Fund if you wish to make an impact in a specific area, but do not want to select a specific organization.
What are the benefits of a Field of Interest Fund?
- It provides a low-cost, efficient giving vehicle that is easy to establish and virtually effortless to maintain.
- You can give complex or unusual assets at fair market value, including cash, real estate, closely-held stocks, bonds, and mutual funds, etc.
- You may name the fund after you or in honor of a family member or friend of the organization.
- You have the ability to grant anonymously, incorporate family into charitable planning, and create a legacy.
- You receive an immediate tax deduction.
How does a Field of Interest Fund work?
- You establish the fund with an initial contribution.
- You select the field of interest you would like to support.
- Our Board of Directors and expert program staff identify organizations where the money will have the greatest impact in your selected field of interest and make grants.
To explore another way to give to a specific area of interest, learn more about our collective giving options.