Types of Funds

The Community Foundation administers a variety of funds for you to consider.

Fund Type Minimum Gift To Establish Description of Fund Donor Involvement Spending Policy

Donor-Advised

Non-Endowed

$5,000 A flexible fund that allows the donor to get an immediate tax deduction and make grant recommendations later.  Not a permanent endowment. Donor recommends grants to nonprofit organizations at donor’s convenience.  Grants are subject to Foundation approval. May grant all but $1,000 of fund balance.

Donor-Advised

Endowed

$10,000 A flexible fund that allows the donor to get an immediate tax deduction and make grant recommendations later.  A permanently endowed fund. Donor recommends grants to nonprofit organizations at donor’s convenience.  Grants are subject to Foundation approval. May grant 5% of fund balance annually.*

Scholarship

$10,000 Provides scholarship to college students based on guidelines established by the donor and approved by CFES. Donor does not designate scholarship recipients.  All awards are determined by independent pre-selected Advisory Committees. May grant 5% of fund balance annually.*

Designated

$10,000 Donor pre-selects one or more nonprofit organizations to receive grant distributions. Donor determines which nonprofit organizations are to benefit from grants at the time the fund is established. May grant 5% of fund balance annually.*

Field of Interest

$10,000 Donor chooses a charitable focus area and CFES awards grants to nonprofits meeting that need (ex. youth, the arts…) Grants are recommended by a Foundation Committee and are approved by the CFES Board. May grant 5% of fund balance annually.*

Community Needs

$10,000 Allows CFES to make grants to meet  changing community needs over time. Grants are recommended by a Foundation Committee and are approved by the CFES Board. May grant 5% of fund balance annually.*

Agency

$10,000 Established by nonprofit organizations to provide future income on a scheduled basis or by request. Nonprofit organization provides gift to establish the fund and determines the frequency of grant distributions. May grant 5% of fund balance annually.*

*5% of Fund Balance on a Rolling 20-Quarter Average, as determined by the Spending Policy approved by the Board of Directors annually.