Types of Funds
It is the Foundation’s goal to make charitable giving easy and rewarding. Assets can be conveyed during the lifetime of the donor or by a planned gift beyond the donor’s lifetime. A gift to the Foundation continues a person’s legacy of charitable giving for years to come.
Individuals and families may wish to consider alternative assets such as real estate or business interests, which can be conveyed to the Foundation’s supporting organization West Texas Heritage Holdings, Inc.
In making gifts, donors sometimes choose to establish or contribute to a Family or Corporate Fund to achieve their objectives. Permanent funds can support education, health and social services, culture and the arts, and community development.
Undesignated Funds offer the Foundation the greatest flexibility in meeting changing needs in the Permian Basin region. Recipients of grants are determined by the Foundation’s Grants Committee and Board of Governors.
Field of Interest Funds support broad areas of interest to the donor, for example arts, education, recreation, health, children or the elderly. Grants are made in accordance with donors’ guidance by the Foundation’s Grants Committee and Board of Governors.
Donor-Advised Funds provide donors with the enjoyment and privilege of recommending grants from the funds they established, subject to certain legal restrictions.
Designated Funds benefit specific nonprofit organizations as recommended by donors or by the organizations themselves.
Scholarship Funds provide students with opportunities to further their education or training. Donors may identify general selection criteria, while the Foundation’s objective selection methods determine students to be awarded scholarships.
PBAF Emergency Relief Fund provides financial assistance for shelter, medical attention, clothing, and other relief to individuals (or their care providers) with an urgent need for temporary help due to natural and other major, unforeseeable, life-altering circumstances and disasters. The fund is focused on providing assistance, particularly emergency family and housing needs for residents of West Texas, not covered by other programs. This fund is open to the public for contributions of all amounts at any time.