A Specific Purpose Fund is set up by an organization or group of people through a gift or a transfer of assets to support the agreed purpose. Distributions from the fund may be made to charitable organizations or to vendors for the charitable purpose of the fund, subject to the Foundation’s discretion and approval.

This Fund is NOT:

A fiscal agency relationship: The Minneapolis Foundation does not assume administrative obligations or financial liabilities beyond the value of the assets in the Fund.

A fundraising partnership: The Minneapolis Foundation does not commit to fundraising for component funds. We can provide advice on an informal basis, however, and we may also be willing to provide additional services on a fee basis.

Leverage to receive support from The Minneapolis Foundation: Projects supported by a Specific Purpose Fund are no more likely to receive a grant from The Minneapolis Foundation than other worthy projects.

A petty cash fund for incidental expenses related to a project: Although the Fund may pay expenses related to the agreed purpose, it does not reimburse incidental expenses incurred by individuals.

A resource subject to your control: Although you may be soliciting the gifts, they are ultimately made to the Fund for the agreed purpose. Distributions will be restricted to that purpose, subject to the Foundation’s discretion.