Unrestricted funds are not specifically designated for us by a particular agency, case or area of interest. Our Board of Directors oversees the use of these funds, setting priorities for their use and determining how grants will be distributed to support the charitable needs of our community. Unrestricted funds give us the ability to respond to pressing and changing needs in the community.
Field of interest funds support a broadly defined area such as the arts, the environment, health or can be focused on a more narrow interest, such as children with cancer. Donors can participate in the grant-making process or utilize the Community Foundation’s experience in identifying worthy grantees.
Distributions from a designated fund are earmarked for the specific agency(s) determined by the donor at the time the fund is created. If a designated agency ceases operation, the Foundation has the responsibility to reapply the funds to a similar purpose in the community.
Agency endowment funds allow nonprofit organizations (agencies) to create a permanent and predictable source of funding dedicated for their organization. The agency can add to the fund as well as individuals, organizations and businesses.
Donor-advised funds are the most complex type of fund the Foundation administers. A Donor-advised fund allows a donor to recommend specific charitable projects or organizations they want to support; however, the Foundation is charged with the final responsibility and authority over distributions.
Scholarship Funds can be structured to benefit students at any education level, or, eligibility may be available only to students attending a specific institution or studying a single subject. A scholarship fund can be established to honor a loved one. The Community Foundation can assist in the selection of recipients. Our staff will handle all the necessary administration to ensure that scholarships are distributed equitably.
The Community Foundation enters into special Community Partnerships with a local organization after careful consideration. Community Partnerships represent specific agreements where The Community Foundation receives and administers Community Partnership funds that benefit the area.
Acorn Funds allow individuals, families and organizations to build an endowment over time. Donors are allowed three years to reach the minimum required to establish a permanent endowment at The Community Foundation
Each type of fund can be designated as either an endowment, which disallows the distribution of the principal funds, or as a non-endowment, which allows principal to be invaded.
Please contact us to assist in planning a fund or with any questions about the funds.