How to Setup a Fund
The Community Foundation offers many different types of funds in which your gift can be used to make a difference. Through the Community Foundation, you can customize a fund that will support the charitable purposes or organizations.
UNRESTRICTED ENDOWMENT FUNDS
If you wish to generate resources to meet future community opportunities, assist an existing program or even start a new one,
the unrestricted fund will be your choice. Local volunteers in your county will use the resources for purposes that are meaningful and timely.
FIELD OF INTEREST FUNDS
Perhaps you have a particular interest in a specific area or opportunity. It might be the arts, education or improved services such as health, recreation or fire protection. The Community Foundation board will award grants from your fund within the area you have set forth in your fund agreement.
You may wish to have more involvement in the annual distributions from your fund. By choosing an advised fund, you may serve on or specify who will serve on your fund’s selection committee. Each year, you can recommend a different charitable grantee.
If you are devoted to one or more charitable organizations, you may wish to establish a designated fund, thereby ensuring that your favorite charity or charities will receive annual grants from your endowed resources.
AGENCY ENDOWMENT FUNDS
An agency may establish an agency endowment fund for its benefit. The agency’s supporters may contribute funds to ensure an uninterrupted and dependable source of revenue to carry out its work on a perpetual basis.
A scholarship fund will assist students with tuition and fees to pursue a post-secondary education. Unlike generic scholarships, a scholarship through the Community Foundation is promoted to local students and can be customized to incorporate the patron’s preferences for a particular field of study or a particular institution of higher education. Eligibility of applicants, application procedures and the amount and duration of scholarship support are designed to reflect the wishes of the patron.
SPECIAL PROJECT FUNDS
Immediacy is an element in the Community Foundation’s special projects funds. Perhaps a new project emerges, a need arises or a
nonprofit group requests fundraising assistance from the Community Foundation. Rather than establish a permanent endowment, resources are generated to support these special short-term goals now.