|Types of Funds|
Designated Funds allow donors to select a specific organization or group of organizations to receive long-term support. The designated recipients receive regular distributions from the fund. Distributions are restricted to a public charity that was named by the donor at the time the contribution was made to the Community Foundation.
Donor Advised Funds allow donors to work actively with the Community Foundation in selecting charitable recipients. Donors, or their representatives, recommend grants or distributions. The recommendations are advisory and the Community Foundation’s governing body has legal control over all distributions.
Field of Interest Funds are established by donors who wish to contribute to a cause or an area of concern but do not want to designate a particular organization.
Agency Endowment Funds Charitable agencies and organizations (with their own 501(c)(3) status) benefit from placing the management and investment of their endowments and long-term funds with the Community Foundation. As part of the larger investment pool of the Community Foundation, each agency endowment has the potential for greater return at a lower cost. The income is distributed back to the charity, for purposes that the charity’s board determines appropriate.
Scholarship Funds allow a donor to help a group of students at a specific educational institution or in a particular curriculum pay for part or all of their education. The donor can be involved in establishing the selection criteria for the recipients and selection is made by the Community Foundation or by a committee that includes the donor.
Unrestricted Funds are established by donors who wish to contribute to a fund that supports any community issue or sector as determined by the Community Foundation. This fund type is the Community Foundation’s most responsive vehicle to address the changing needs in Southeastern Illinois.