Types of Funds

The funds held by the Community Foundation are as varied as the donors who establish them and can be established at the Community Foundation for $20,000. Funds established with less than that amount will not be able to distribute grants until the $20,000 level has been reached.

Community/Unrestricted Fund

A Community Fund (unrestricted) provides flexibility to enable the Community Foundation to respond to the community's most pressing needs, today and tomorrow. Earnings can be used to meet ever-changing community needs - including future needs that often cannot be anticipated at the time when the donor established the fund.

Donor-Advised Fund

The fund advisor (one or more persons) recommends grants to charitable organizations or projects. Individuals, families and businesses may be especially interested in a Donor-Advised Fund if:

  • You have considered establishing a private foundation but want to avoid the costs, regulations, minimum distribution rules, excise taxes and administrative costs associated with a private foundation.
  • You wish to be able to vary the charities you support annually.
  • You wish to involve the next generation in your charitable giving.
  • You wish to benefit from the expertise of the Community Foundation regarding the changing needs of the community. 

Designated Fund

A Designated Fund may be established by a donor or an organization to benefit one or more specific charities. Examples of fund uses include providing ongoing funding for a senior center, museum, church, or nonprofit charitable organization.

Agency Fund

An Agency Fund may be established by a charitable organization to provide a stream of revenue to fulfill its mission well into the future.  The Community Foundation staff can help develop planned giving programs and assist with investment management and administrative details. 

Scholarship Fund

You can invest in your community’s future and show students you care. The Community Foundation provides the expertise to help you meet your personal goals and awards scholarships to deserving students. Your gift can help students achieve their lifetime dreams.

Field of Interest Fund

You can target your gift to address needs in an important area of community life or a geographic region and the Community Foundation will use your gift to make grants in that field of interest.

Seed Fund

Any of the above funds may be established as a Seed Fund starting with a donation of $4,000.  This provides an opportunity for people or organizations that do not have a large amount of capital to build their fund over a number of years.  We would be happy to speak with you about all of our giving options to find out what is best for you.

Impact Fund

While service and investment fees support the management and investment of individual funds, these fees do not cover the other important work of the Community Foundation.  The Community Foundation Impact Fund enables the Foundation to meet the needs of donors and the community by:

  • Helping nonprofit organizations become stronger, more effective entities for our communities.
  • Marketing and communicating the value of charitable giving – not just to the Community Foundation but to all local charities.
  • Working with attorneys, CPA’s and other financial professionals to keep philanthropic dollars at work here.

Special Project/Pass-Through Funds (Fiscal Sponsor) 

The Community Foundation accepts both permanent and non-permanent funds. Permanent funds are invested, and only income is made available for grantmaking. The principal is not spent, but retained for growth of the fund. Non-permanent funds generally provide grant support from fund assets as well as income and can be disbursed upon request.

Two categories of non-permanent funds that the Community Foundation offers are Special Project and Pass-Through Funds.  The Community Foundation acts as a fiscal sponsor for a project or group that does not have its own tax-exempt status. Funds of this type allow community-minded individuals or organizations who have developed community-focused projects to meet charitable needs in the community and the ability to seek grants and solicit tax-deductible donations under the Community Foundation’s tax-exempt status.

The types of projects eligible to participate in the Community Foundation’s Special Project/Pass-Through Fund Program are those which probably would qualify for tax-exempt status under 501(c)(3) of the Internal Revenue Code. Contact us if you would like more information about our Special Project and Pass-Through Funds.