Types of Funds

1. Community Funds

Minimum to Establish: $50,000

A Community Fund allows individuals and groups to contribute time and money toward the betterment of a specific community. Each community fund has a volunteer advisory board comprised of local members who encourage the growth of the fund and oversee distributions in the form of grants. These grants are awarded to community projects and programs based on the changing needs of that community. The Community Foundation oversees 16 community funds in its nine-county service area. If your area does not have one, you may wish to consider starting a community fund.

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2. Donor Advised Fund

Minimum to Establish: $10,000

A donor who establishes a Donor Advised Fund retains the right during his or her lifetime, or during the lifetime(s) of other advisors(s) named by the donor, to recommend grants to specific agencies and institutions or to specific program fields. The donor may consult with the Community Foundation’s experienced program staff about community needs, programs and agencies. Grant distributions and investment management are handled by the Foundation.

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3. Designated Fund

Minimum to Establish: $10,000

A Designated Fund allows you to support the good work of a specific nonprofit organization. Because your gift is given through the Community Foundation, it provides the organization you select to receive your gift with the added bonuses of planned giving, investment management services and the power of endowment.

 

4. Field of Interest Fund

Minimum to Establish: $10,000

A Field of Interest Fund allows the donor to target their gift to address needs in an important area of community life such as at-risk youth, the elderly, or the arts. The gift is directional yet flexible enough to adjust to diversifying community needs over time. The Women’s Fund and the Excellence in Education funds are some of the Community Foundation’s field of interest funds.

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5. Organization Endowments

Minimum to Establish: $10,000

Nonprofit organizations may establish endowments with the Community Foundation to support their future operations. Periodic distributions are made from these funds to the organization to be used by their governing boards to meet ongoing operation expenses.

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6. Scholarships

Minimum to Establish: $20,000

The Community Foundation encourages the creation of scholarship funds that benefit students from a designated school or a particular locale of our service area. We also welcome scholarship funds that will help students from our area pursue a particular course of study or attend a specific school, regardless of its location. Donors decide the name and purpose of the fund and may specify selection criteria for recipients such as academic achievement and financial need.

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