Types of Funds
Donors who wish to establish a named fund at the Community Foundation can choose a permanent endowment or a non-endowed fund. Donors are also able to direct the charitable purpose of the fund. Most new endowment funds can be established with a minimum donation of $10,000; to establish a new scholarship fund, the minimum is $25,000. Donations that do not fit the minimum criteria can benefit an already established fund, or be left unrestricted to meet the changing needs of the communities we serve.
Main Street Community Foundation staff, and the Board of Directors have many years of combined business and financial administration experience so you can be assured of the prudent stewardship of the funds in our care. We strive to honor each donor’s individual needs, interests and desires, and are happy to work with your financial and/or legal advisors to arrange a gift that represents your best interests.
There are many types of funds into which you can direct an outright or planned gift. Contact Us to determine which giving strategy is best for you.
Flexible and responsive to emerging and changing community needs. Donors place no restrictions on their gifts and leave decisions about charitable use of the funds to the Foundation.
Field Of Interest Funds
Allow donors to support a class of charitable beneficiaries or institutions such as assisting children, supporting the arts, or environmental education.
In addition to limiting distribution to a particular area of interest, donors can limit to a specific neighborhood, county or other locale within our service area.
The Foundation determines which organizations or programs, in the field specified by the donor, will receive funds.
Donor Advised Funds
Established by donors who wish to actively participate in the grant making process. Donors recommend grants to charitable projects or organizations they want to support, with oversight provided by the Board of Directors. The donor may receive recognition of the grant awards and maintains continuous involvement in the use of their gift. Foundation staff assist donors by researching grant requests and connecting donors with potential grant recipients.
Allow donors to designate support for a specific charitable organization. If the named charity ceases to exist, another organization with a similar purpose is selected by the Foundation’s Board of Directors to assure their purpose for giving will be honored in perpetuity.
Agency Endowment Funds
Established by a nonprofit organization as a means of protecting their charitable dollars for the future, and to ensure a source of annual support for their programs and operations.
Allow donors to establish a named fund for any level of education. Donors may designate a particular school, field of study and select eligibility criteria. Scholarship recipients are selected by the Foundation’s scholarship committee.
Administrative Endowment Funds
Allow donors to make gifts that provide support for the ongoing work of the Foundation.
We encourage you to discuss the fund options with us prior to establishing a fund and we welcome the opportunity to talk with you and your legal or financial advisor.