There are many options for giving through the Community Foundation. Whether you wish to create a charitable endowment fund or make a gift to an existing fund, you may be assured that your gift will be used permanently to make a lasting contribution to the community.
>>
Types of Funds
The Foundation maintains various types of charitable endowment funds. Different fund options allow donors to customize their gift.
Field of Interest Funds are established to support unspecified programs or organizations in a general field of interest such as education, historic preservation, children or the elderly.
Designated Funds are established to benefit one or more specific organizations or programs. If a designated organization ceases to exist, the Foundation works with the donor or representative to identify a similar program and maintain the spirit of the original charitable intent.
Donor Advised Funds allow donors to make suggestions as to how distributions are spent. Although federal tax law requires the Foundation to be the ultimate decision-maker on grant distributions, we make every effort to follow the donor's wishes.
Unrestricted Funds are established within an affiliate of the Foundation for the affiliate to distribute. They give the affiliate Board the flexibility to respond quickly to emerging needs and changing priorities within their community.
Gift Funds (also called pass through funds) are not set up for long-term growth. Rather, a donor can make a contribution through the Foundation and immediately distribute the entire amount to a charitable beneficiary. Generally, the Foundation will only establish a gift fund in conjunction with an endowment fund.
Scholarship Funds allow donors to provide educational opportunities for the coming generation. Funds may be established to benefit recipients from a particular geographic region, for a particular institution of higher learning, or for a particular field of interest. (If you are a student seeking scholarship information, please click here to access our scholarship information.)
Agency Funds are gift funds and funds established by a not for profit organization designated for the benefit of said not for profit organization. Legally, the gift becomes the property of the Community Foundation as an irrevocable gift to the Community Foundation. The gift is recorded as both an asset and a liability of the Community Foundation. The liability of the Foundation is to the beneficiary. If the donor and the beneficiary are the same non-profit organization, any decisions regarding extraordinary distributions are made at the discretion of the Community Foundation board. In the event that an extraordinary distribution is to be requested and the reason is justifiable, the Foundation requires a 100% vote of the beneficiary’s board or governing body to request such a distribution before the Community Foundation will consider the request. Desire to change to an outside investment manager is not considered to be justifiable reason in support of a request for an extraordinary distribution.
