2018 Fund Distributions
Unrestricted funds are discretionary funds established by individual donors through contributions or bequests. The Foundation’s Board of Directors has discretion to use these gifts as they deem appropriate, often for competitive discretionary grantmaking.
Agency funds are those held for a specific nonprofit organization. When established as “endowed” funds, as is typically the case, the corpus is preserved by reinvesting quarterly earnings, or the agency may use the earnings based on the Foundation spending policy by taking quarterly or annual distributions. Agency funds that are not endowed allow use of fund principal in addition to income. The decision to reinvest or use quarterly earnings is established by the agency when the fund is created.
Scholarship funds are typically endowed funds wherein investment income is used to fund scholarship awards. The application, selection, and award process is managed by the Foundation’s staff and a volunteer Scholarship Selection Committee; a small number of scholarship awards are selected by outside review committees.
Donor Advised Funds
Donor advised funds are established to enable charitable giving. Donors often treat these funds as designated charitable savings accounts.
Donor Designated Funds
Designated funds (a.k.a. Donor Designated funds) are typically established by one or more donors and require that the Foundation distribute income from the funds to a particular charity or for a particular field of interest. Thus, a designated fund may be designed to underwrite a particular charitable venture or purpose.
Field of Interest Funds
Field of Interest funds allow the donor or donors to instruct the community foundation to use available grant dollars in a certain program area such as education, health, youth, the environment, etc., with the Foundation or an advisory committee determining the specific recipient.