Bunbury Fund Sunset Q&A

Why is the Bunbury Fund choosing to sunset the Fund by the end of 2025?

The Bunbury Fund at Princeton Area Community Foundation will celebrate 10 years as a Community Foundation Donor Advised Fund in 2025. The Fund’s seven advisors have spent the better part of two years evaluating the impact of the $7 million in grants made to support capacity building within our region. We have come to believe that spending down the fund with a series of transformational grants (Sunset Grants) can significantly elevate the work of some of the 66 grantees we have funded since 2016. The time to start making these grants is now. This Fund was never intended to go on in perpetuity and we believe a sunset by the 10^th anniversary is appropriate.

Sunsetting a fund is an established practice, and the Advisors began considering a sunset in December 2022. During this time, the Advisors began researching best practices of other funds who have gone through this process. The Bunbury Advisors are committed to creating a process that is structured, transparent and ultimately leverages the Fund’s assets in ways that are meaningful.

What is the current balance of the Bunbury Fund?

The balance is about $16 million.

Will there be any open grant cycles between now and the Fund sunset?

For 2024, there is one round of competitive grants currently in process with decisions planned for October. We anticipate the amount of grants to be made will be similar to prior years; however, this is always contingent on the quality and substance of applications received. In spring of 2025, we expect one final open round of competitive grants. For the 2024 and 2025 competitive grant cycles, all eligible nonprofits are welcome to apply.

Who will be eligible for consideration for a Sunset Grant?

We anticipate the bulk of the sunset grantmaking will be made to prior Bunbury Fund grantees.

Are there ways my nonprofit can prepare to be considered for a Sunset Grant?

If you are a candidate for a Sunset Grant, you will hear from a Bunbury Fund Advisor to schedule a meeting. The Advisors can tell you more about the process in advance of the meeting.

May I apply for a Sunset Grant?

The Sunset Grant process does not involve a traditional application. Bunbury Fund Advisors will be reaching out to nonprofits being considered for Sunset Grants.

How will the Sunset Grants be determined?

The Advisors have developed a sunset process that is beginning now and will include personal meetings with nonprofits. The Advisors expect to announce the Sunset Grant awards later in 2024 and in 2025.

Is there anything my nonprofit can do to be considered for a Sunset Grant?

There is nothing a nonprofit can or should do to advance consideration. Please refrain from advocating directly to PACF staff and Board or Bunbury Fund Advisors. The Advisors are following an internal assessment process developed as part of the strategic plan. Please keep in mind that the Bunbury Fund currently has a competitive grant cycle open and will have another cycle in 2025. These are wholly distinct from the Sunset Grants process.

How large are the Sunset Grants going to be?

The Advisors anticipate making grant awards up to several million dollars.

What will be the focus of the Sunset Grants?

In honor of the Bunbury Fund’s mission of capacity building, the Fund will retain that focus and make grants that are transformational to the capacity of nonprofits in advancing their mission.

What impact will this have on the Community Foundation?

The Bunbury Fund Advisors expect to recommend a grant of $1 million to the Community Foundation as part of the 2024 Sunset Grants. This would be in recognition of the longstanding relationship and to partially offset the reduction of fee income. The Bunbury Fund Advisors have been in communication with PACF leadership well in advance of this announcement and intend to adhere to fund withdrawal guidelines.

How will I be updated through the process?

The Community Foundation website has a section for the Bunbury Fund where materials and Q&As will be posted. The Bunbury Fund and the Community Foundation are coordinating throughout this process to ensure consistency and accuracy and will post updates and Q&As on the Bunbury page of the website as well as more direct communications where appropriate.