The Community Foundation offers several types of fund options to meet the varying philanthropic and financial goals of our donors. Below are brief explanations of the types of funds we offer.
Community funds are supported through donors’ unrestricted gifts and allow the Community Foundation to respond to the ever-changing needs of the Midlands. Income is distributed after a competitive review process to nonprofits that have innovative programs and initiate effective change and progress within the community. No Minimum Fund Investment.
Field-of-Interest funds support a donor’s specific focus areas, such as arts, education, human services or youth. By identifying and distributing grants aligned with the donor’s area of concern, a field -of-interest fund ensures that the donor’s interests are funded, but does not limit the funding to one particular organization. Minimum Fund Investment: $10,000
Agency funds provide a simple way for a nonprofit organization to establish a fund that provides a source of lasting support. An agency may establish an endowed or non-endowed fund, and may also choose whether or not to invest the fund. The organization may choose to withdraw funds throughout the fiscal year or leave the funds invested where they will continue to grow. Minimum Fund Investment: $10,000
Designated funds allow a donor to identify specific nonprofit organizations to receive grants. A donor may choose one or several organizations to support with the fund. Income from the fund is paid to the designated organization(s) to be used to support operations and programs. Minimum Fund Investment: $10,000
Donor-Advised Funds provide both immediate impact and sustainable benefit while giving a donor the flexibility to give to many varying organizations and programs. A donor may establish an endowed or non-endowed fund, and may also choose whether or not to invest the fund. The Foundation staff will work with the donor to structure the fund based on the donor’s charitable goals. Minimum Fund Investment: $10,000
Scholarship funds allow a donor to help provide educational opportunities for future community leaders. These funds are typically set up to honor loved ones or someone who has helped the donor succeed in life. The donor may designate the criteria for the scholarship and assist in the selection process by serving on the scholarship selection committee if so desired. Minimum Fund Investment: $50,000