Although there are many types of funds to fit a donor’s wishes, the primary concern of the Foundation is building endowment—long-term investments whose proceeds fund grants to local nonprofit organizations. Funds may be endowed for a number of charitable purposes, described below; if you have questions about establishing a fund, please contact the Executive Director by e-mail [Mike Stoffregen] or at the Foundation’s office.
Please look over our list of named funds already established.
These funds give the Foundation the greatest flexibility to add value to the community. The Board makes grants from discretionary funds to nonprofit organizations that, in the Board’s best judgment, serve the current needs of the community. As a community changes over time, these funds allow the Foundation to adapt.
Earmarked for either a broad field of interest, such as the arts or human services, or a narrower field, such as music education, these funds support grants to nonprofit organizations working in the designated field.
Earmarked for a specific nonprofit organization, these funds support grants only to named organization for as long as the organization remains viable. If future events cause the named organization to disband, lose 501(c)(3) status, or become unable to meet the community’s needs, the Board may redirect its support to another organization serving similar community needs.
The donor retains an advisory capacity in making grants from the funds, subject to IRS regulations and Community Foundation policies. Generally, when an advised fund is established, the advisory relationship lasts for the life of the donor and through a second generation, if the original donor wishes.
The agency retains an advisory capacity in making grants from the funds, subject to IRS regulations and Community Foundation policies. Generally, grants from agency advised fund are directed back to the nonprofit agency that established the fund.
Although not a priority of the Foundation, Non-Endowed Agency Funds may be provided as a service to the community. These include Capital Campaign Funds--for which the Community Foundation might accept and administer gifts for a building project or for the eventual establishment of an endowed fund--and Designated One-Time Funds, which will generally be initiated only under rare circumstances.
Established by an individual, family, or nonprofit organization, charitable giving funds build endowment for future grants.
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