Start a New Fund

If you're ready, it's easy to start a fund now!

A named charitable endowment allows you to create a lasting legacy for you, your family, or to memorialize a loved one. Our professional development staff is ready to assist you in fulfilling your philanthropic vision.

Corporate advised fundholder Todd Blount with employees of Blount Fine Foods
 Of this corporate advised fund, Blount Fine Foods President F. Nelson "Todd" Blount explains, “The goal is that we, and that includes a team of employees, will work with the Rhode Island Foundation to determine where the money will go."
You can establish and name one of the following types of funds

  • Unrestricted
    Leaves the choice of grant recipients to the Foundation to meet the needs of the day.
  • Field of interest
    Targets an area of interest, such as the environment, education, or a geographic region.
  • Designated
    Identifies one or more particular nonprofit organizations for perpetual support.
  • Scholarships
    More than 150 scholarship funds currently are helping to educate our leaders of tomorrow. Scholarships may be either field of interest (to support students in specific communities or fields of study) or designated (for specific high schools and/or colleges/universities).
  • Donor advised
    Enables a donor and named successors to recommend nonprofit organizations to receive grants.
  • Corporate advised
    Allows a corporation to recommend nonprofit organizations to receive grants.
  • Organizational endowment
    Enables a nonprofit organization to receive grants and take advantage of professionally managed investment and greater security.
  • Supporting Organization
    For private foundations and larger donors, creates a separate public charity like a “subsidiary” of the Rhode Island Foundation, benefiting from the Foundation’s community knowledge and professional philanthropic services.

You can give any of the following

  • Cash
    A cash gift is the easiest to give, and your contribution will qualify for maximum deductibility for income and estate tax purposes.
  • Securities
    Stocks, bonds, or mutual funds may be used to establish, or add to, a fund. If your securities have appreciated, it is to your advantage from a tax-perspective to give them to the Foundation rather than to sell them and contribute the proceeds to the Foundation.
  • Real estate
    The Foundation will accept, on a case-by-case basis, gifts of real estate unencumbered by a mortgage and appraised at $250,000 or more.

The Foundation accepts other complex or hard to value assets on a case-by-case basis.

Donor stories

Field of interest fund

Bannister House

Black Philanthropy Bannister Fund

Founded in 1890 as the Home for Aged Colored Women (and renamed Bannister House), the facility served former African American domestic servants. This fund furthers the original focus to benefit the African American community.

Designated Fund

Jeffrey Swanson

Jeffrey L. Swanson Memorial Scholarship

Landscape photographer Jeffrey Swanson died in August 2014 at the age of 30, but his name and spirit will live on through his photographs and through this scholarship fund for students at North Kingstown High School.

Donor advised fund 

Rhea and Robert Brooks

Robert and Rhea Brooks Family Fund

“We believe giving back is important in life,” and the Foundation, Rhea and Robert Brooks agree, provides “a nice way to manage our charitable funds.”

Organizational endowment

South County Art Association

South County Art Association Fund

“We want to honor our founders and the rich history of the organization in the community," explains the Association's Executive Director Karina Burston of the organization's endowment funds.


LocationOne Union Station
Providence, RI 02903


(401) 274-4564

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