Charitable Funds

Charitable funds are created within the Community Foundation as entities with unique grantmaking purposes. Funds often bear the name of the establishing donor or organization, or a name that protects the anonymity of the donor.

Individuals, families, organizations and businesses can establish a new charitable fund or make a gift to an existing fund.

Funds can be sorted by purpose and by spending policy. For a brief description of each charitable fund, view our Charitable Fund Listing. In some cases, charitable funds replace the need for a donor to create a private foundation. See our comparison (pdf) for details.

By purpose, there are unrestricted and restricted charitable funds.

• An Unrestricted Fund enables grants to be awarded to a wide range of organizations in our community. We currently accept grant proposals twice yearly and award grants that serve various causes or needs. This type of fund is most useful to enable the awarding of grants to the changing needs of a community and its residents.
  
• A Restricted Fund has a broad or narrow purpose specified by the donor. The restriction could be that a family member may give input to grant selection, or that grants must be awarded to organizations serving a cause, or that income from the charitable fund be given to a specified organization. This type of fund can allow a donor to focus grants on those issues or organizations most important to him or her.

By spending policy, there are endowed and non-endowed charitable funds.

• An Endowed Fund is intended to continue in perpetuity. The principal of the fund cannot be invaded and any grants must come from income or total return.
  
• A Non-endowed Fund typically allows both income and principal to be disbursed. In some instances, charitable fund agreements indicate a preference that principal be preserved, but that it may be disbursed under certain circumstances.