Types of Funds
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| Michael Arnolt recommends grants from an advised fund established by his mother, Ghean Arnolt. Each time a grant is made from the fund, Ghean’s legacy lives on. |
A named fund can be established at the Community Foundation for $5,000.00. Funds established with less than that amount will not be able to distribute grants until the $5,000 level has been reached.
Community/Unrestricted Fund
A Community Fund (unrestricted) provides the Foundation with the flexibility to decide where the earnings can be used most effectively each year to meet the community's needs as they change from generation to generation.
>> View list of Community Funds
Advised Fund
The fund advisor (one or more persons) recommends grants to charitable organizations or projects. Individuals, families and businesses may be especially interested in an Advised Fund if:
- You have considered establishing a private foundation but want to avoid the costs, regulations, minimum distribution rules, excise taxes and administrative costs associated with a private foundation;
- You wish to be able to vary the charities you support annually;
- You wish to involve the next generation in your charitable giving; or
- You wish to benefit from the counsel of the Community Foundation regarding the changing needs of the community.
Designated Fund
A Designated Fund may be established by a donor or an organization to benefit one or more specific charities.
>> View list of Designated Funds
Agency Fund
An Agency Fund may be established by a charitable organization to provide a stream of revenue to fulfill its mission well into the future.
Scholarship Fund
A Scholarship Fund may be established using eligibility requirements important to the donor to help students achieve their educational dreams.
>> View list of Scholarship Funds
Field of Interest Fund
You select an area of special concern or geographic area, which may be defined broadly ("environment") or more narrowly ("nurturing parks and recreation in the southeastern portion of Kosciusko County") and the Community Foundation will use your gift to make grants in that area.
>> View list of Field of Interest Funds
Foundation Operating Fund
The Kosciusko County Community Foundation Operating Fund enables the Foundation to meet the needs of donors and the community by enlisting staff, supporting the facility, and providing resources to help meet the needs of the residents of Kosciusko County.
The Community Foundation accepts both permanent and non-permanent funds. Permanent Funds are invested, and only income is made available for grantmaking. The principal is not spent, but retained for growth of the fund. Non-permanent Funds generally provide grant support from fund assets as well as income.
