Types of Funds Available to Change Lives

Community Grantmaking Fund: The Community Grantmaking Fund is comprised of contributions from many different donors. This fund is the core grantmaking program of the Community Foundation, has the broadest funding guidelines, and targets dollars toward the community's most pressing needs as those needs change over time. By making a gift or bequest to the Community Grantmaking Fund, the donor can create a living legacy that will grow and change with the community.

Discretionary Endowment Funds: Discretionary endowment funds are created by visionary philanthropists who wish to provide for the community beyond their own lifetimes. These endowed funds will enable future generations to address community needs just as the Community Grantmaking Fund does with the added benefit of carrying on a family name.

Field of Interest Funds: Field of Interest endowment funds are established by donors who wish to provide funds for a specified charitable area or purpose. The donor decides the purpose of the fund (such as the arts, programs for persons with disabilities, or services for children) and the Community Foundation identifies agencies that are effectively accomplishing that purpose.

Designated Endowment Funds: Designated endowment funds are established by donors to ensure that support will be provided to specific eligible nonprofit organizations. These are often organizations in which donors have been involved during their lifetime. Donors that contribute to a designated endowment fund are interested in providing long-term financial stability to a nonprofit agency. If the named organiztion goes out of business or changes the purpose of its activities, the Community Foundation will ensure that the donors' charitable goals are continued.

Advised Endowment Funds: Advised endowment funds are established by donors to create a flexible means to contribute to various charitable purposes and to minimize the inconvenience of financial administration. From year to year, donor advisors have the flexibility to suggest which agencies will benefit from their fund. All recommended grant distributions are required to be for charitable purposes and meet the approval process designated by the Community Foundation's Board of Directors.

Agency Endowments: Agency endowment funds are created by charitable organizations as a way to plan for the future. This type of fund is most appropriate for agencies that have moved past the grassroots level. An agency benefits from the Community Foundation's professional endowment management, freeing the agency's staff and board to concentrate on their programs and mission. In addition, in certain circumstances, the Community Foundation will provide a 20% match for gifts made to agency endowments. Read more about Agency Endowments here.

Scholarship Endowment Funds: Scholarship endowment funds are established by individuals, organizations, families, and schools to provide scholarships for students. These funds can be used to help pay tuition or other expenses for K-12, college students, and returning adults attending any accredited educational institution (colleges, private and parochial schools, or vocational schools). Scholarship funds can be of two types: with an advised endowment scholarship fund, an independent advisory committee, which meets the approved process designed by the Community Foundation's Board of Directors, works with the Community Foundation to identify recipients; with a designated scholarship fund, the amount designated for disbursement is automatically paid to a school of your choice. It is then the school's responsibility to annually determine the award recipients.

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