TYPES OF FUNDS
Whether it’s supporting your favorite charitable program or just teaching your children about philanthropy — we can help you determine the option, or combination of options, that makes the most sense for you.
You may choose the fund that best meets your charitable intentions:
Unrestricted Funds – Meeting ever-changing community needs.
You place no restriction on how the fund is to be used, entrusting those decisions to the Board of Directors, now and generations to come.
Designated Funds/Agency Funds – Helping local organizations sustain and grow.
These permanent endowment funds generate income for a particular charity (or charities) selected by the donor. For example, a donor may have supported a charity over the course of many years. This fund will provide support for that charity in perpetuity. An agency must have 501(c)(3) status, or be a school or governmental agency to qualify.
Donor Advised Fund – A personal approach to giving.
These endowment funds will provide support to those qualified agencies or purpose with counsel or input from the donor and/or family. While the Scott County Community Foundation Board of Directors must approve all grants, donors and their family would have the opportunity to offer guidance and suggestions.
Pass Through Funds – High impact, high involvement, low hassle.
An advised pass through fund is established at the request of the donor, who advises the Foundation to provide support from the fund principal to charitable causes recommended by the donor. For example, the gift of appreciated securities can be distributed to several organizations. The Foundation can also see that your donations are made anonymously.
Field of Interest – Connecting personal values to opportunities.
These permanent endowment funds generate income for a particular charitable field of interest selected by the donor. For example, a donor chooses care for underprivileged children, or other qualified charitable interest. The Foundation Board of Directors ensures the funds are spent for that purpose.
Scholarship Funds – Investing in deserving students.
These funds are established so that a student may receive assistance for education at a higher learning institution. You may place restrictions on the scholarship that you set up. Applications and information on current scholarships are available at the Foundation office.
For more information on Scott County Community Foundation and the types of funds available, please contact us.