Fund Types

Unrestricted funds: These are our most flexible funds. Because they are not earmarked for a specific purpose, unrestricted funds allow the Foundation to keep pace with the community and meet its most pressing needs. Decision-making is entrusted to our Board of Directors.

Field-of-interest funds: Donors use these funds to address a specific need or to benefit a particular area of interest, such as the arts, education, health care, the environment, or services for children or seniors.

Designated funds and agency endowments: Designated funds support one or more organizations chosen by the donor. If a designated organization should cease to exist, the Foundation redirects income from the fund to another similar organization in accordance with the donor’s intent. Agency endowments are designated funds that have been established by not-for-profit organizations to provide a permanent source of funding to help secure their financial future.

Donor advised funds: These funds offer all the benefits of a private foundation without any of the tax burdens or financial responsibilities. As their name suggests, donor advised funds allow donors to recommend grants to support specific charitable organizations or causes. They can be permanent (only income is granted, and principal grows in perpetuity) or non-permanent (both principal and income can be granted).

Scholarship funds: Donors use these funds to help students realize their educational goals. Scholarship funds can be earmarked for any level of education and can benefit those who attend a specific school or choose a particular course of study.

Special project funds: Special project funds typically are established on a temporary basis to meet a specific purpose. Once that purpose is fulfilled and all money distributed, the fund is closed.

School and community funds: School districts and communities establish these funds to provide an additional source of support for new and ongoing projects and to address specific local needs.

Affiliate foundation funds: These funds target a particular geographic area. Affiliate foundations are responsible for local grantmaking and asset development, but benefit from economies of scale by relying on the Community Foundation for administrative support and asset management.

Future funds: Future funds are established to fulfill the charitable wishes of members of our Legacy Society, who have informed us of their intent to include the Foundation in their estate plans.

Supporting organizations: Supporting organizations offer an attractive alternative to private foundations. Because they are created in direct affiliation with the Community Foundation, supporting organizations enjoy the public charity status of the Foundation and are exempt from many of the restrictions, taxes, and reporting requirements associated with private foundations. At the same time, supporting organizations enjoy considerable independence and have their own boards of directors, giving policies, and funding priorities. Supporting organizations may also choose their own investment managers and strategies.