Types Of Funds Offered

CHOOSE THE FUND TYPE THAT WORKS BEST FOR YOUR CHARITABLE GOALS.

AGENCY FUNDS (Endowed or non-endowed)

Agency Funds are held for other organizations for their benefit. Organizational endowment funds can be created by or on behalf of a nonprofit organization to gain more visibility for the organization and its endowment. Placing an endowment with the Community Foundation also relieves the organization of internal accounting and external reporting, increases opportunities for maximizing investment returns, ensures long-term growth, and creates a repository for additional gifts.

COMMUNITY IMPACT FUNDS

Community Enhancement Funds allow a community foundation’s board of directors its greatest flexibility in making grants to the community. Gifts address ever-changing needs – including future needs that often cannot be anticipated. The flexibility of the gifts enable community foundation boards to respond to the community’s needs.

DONOR ADVISED FUNDS (Endowed or non-endowed)

Donor advised funds allow donors to retain advisory privileges on distributions. These funds best serve those who wish to actively participate in the grantmaking process.To be classified as donor advised, a fund must have at least three characteristics: (1) a donor or person appointed or designated by the donor has, or reasonably expects to have, advisory privileges with respect to the fund’s distributions, (2) the fund is separately identified by reference to contributions of the donor(s), and (3) the fund is owned and controlled by a sponsoring organization, such as a community foundation.

ENDOWMENT

Gifts and bequests that are accepted are subject to a requirement that the principal be maintained intact and invested to create a source of income for a foundation. Donors may require that the principal remain intact in perpetuity, or for a defined period of time or until sufficient assets have been accumulated to achieve a designated purpose.

Agency endowment funds can be created by or on behalf of a nonprofit organization to gain more visibility for the organization and its endowment. Placing an endowment with the Community Foundation also relieves the organization of internal accounting and external reporting, increases opportunities for maximizing investment returns, ensures long-term growth, and creates a repository for additional gifts.

FIELD OF INTEREST FUNDS (Endowed or non-endowed)

A fund held by a community foundation that allows donors to address a specific charitable purpose or area of interest such as the arts, recreation or human services.

RESTRICTED FUNDS (Endowed or non-endowed)

Support a specific charitable organization or purpose. Restrictions are determined at the time the fund is established and remain for the life of the fund.

PASS THROUGH FUNDS

Rather than a permanent Endowment fund where assets are invested, a pass through may be the convenient and beneficial for short term projects and grants. One may make a lump sum contribution to a pass through fund to make an immediate impact to one or more qualified organizations. All the money can be drawn down in accordance with the terms of the fund.