Types of Funds
Learn More: Give | Establish Your Fund | Ways to Give | Memorial Gifts | Givings Tips | Our Funds
There are several types of charitable funds available to support your giving. Choose the one that matches your personal approach to giving and your charitable intent. Our staff is eager to discuss these options with you and to help you select one that matches your giving needs.
What do you want to do?
Give to a specific charitable organization of which you are particularly fond?
With $100, James Cooper created an endowed fund at Marion Community Foundation. At his passing, the proceeds of his IRA increased the fund so that it will provide a gift of roughly $2000* to St. Mary in James’ name every year – forever.
Start a Designated Fund
Donors who wish to support a specific agency or cause can establish a designated fund. Many nonprofit organizations establish an endowment fund with us in order to grow assets to meet both current and future needs. They look to our Board of Directors for strong investment oversight services and ask our staff to manage all of the administrative details of the endowment. This can provide a relatively constant source of annual income and help maintain their mission in perpetuity. It also frees the nonprofit to focus on what they do best in the community.
If the original charity ceases to exist, becomes obsolete or is unable to perform their charitable purposes, our Board of Directors is able to redirect the funds to an organization providing similar services without the cost of expensive legal action.
Donors can create a new designated fund, or contribute to an existing one.
Support a specific cause through a variety of projects and organizations?
Makes grants in support of the arts – specifically live theater and dance – that Kathy so dearly loved.
Start a Field of Interest Fund
Field of interest funds are often established to support particular interest areas, specific program initiatives, causes or geographic areas. At the donor’s request, use of the funds is restricted to a specified area of interest, but flexibility remains to meet changing situations.
Be actively involved tin your philanthropic decision-making?
This donor advised fund was created in 2014 by Susan E. Brown to honor her uncle and aunt, James & Margaret Coulson.
Start a Donor Advised Fund
Donor advised funds are established by donors who wish to actively participate in the grant-making process. Individuals who establish a donor advised fund recommend charitable projects or organizations they want to support. It is easy to give to multiple nonprofits through a donor advised fund. Our Board of Directors is legally responsible for approving all grants.
Give when and where the need is greatest in our community?
This unrestricted fund was created by their son Charles and his wife, Mary, and is supported by the Roberts family to this day.
Start an Unrestricted Fund
Unrestricted funds are not specifically designated for use by a particular agency, cause or area of interest. Our Board of Directors oversees the use of these funds, setting priorities for their use and determining how grants will be distributed to support the charitable needs of our community. Unrestricted funds give us the ability to respond to pressing and often changing needs in the community.
Invest in future generations by supporting local students’ educational opportunities?
Started in honor of their son, this scholarship fund supports higher education for Eagle Scouts.
Start a Scholarship Fund
The creation of a scholarship fund is attractive to many donors and can be structured to benefit students at any education level, or for a specific institution. A scholarship fund can also be established to honor a loved one.
Some donors choose to stay involved through advisory relationships, while others name advisory committees to assist in the selection of recipients. Either way, our staff will handle the necessary paperwork and will ensure that scholarships are distributed in an equitable manner.
Support your nonprofit organization’s own programs and operations in perpetuity?
Created in 2005, this fund both honors its namesakes and annually benefits Emanuel Lutheran Church.
Start an Agency Fund
An agency fund, also referred to as an organizational endowment, can help organizations set aside funds for specific programming, provide security for unforeseen obstacles, prepare for planned growth, or build an investment strategy. An Agency Fund protects the capital of an organization, demonstrates long-term financial planning, and can also provide a relatively steady source of income. This type of fund gives the organization’s loyal and regular supporters a convenient place to make donations which will permanently support the cause.
Let us help you select the fund that works best for your particular giving situation. Please contact us for more information.
Learn More: Give | Establish Your Fund | Ways to Give | Memorial Gifts | Givings Tips | Our Funds
