Fund Types
Individuals, businesses and organizations can achieve their charitable goals through the establishment of permanent endowment funds, the income from which is used to award grants to address emerging and evolving charitable causes in our community. Gifts are pooled and professionally managed. They benefit from economies of scale and a highly diversified investment strategy to increase their charitable impact.
You can establish your own fund, either during your lifetime or through your estate plan, with as little as $10,000. The fund can be in your name, or in the name of your family, your organization, or someone you wish to honor. Your fund will receive recognition for all grants awarded from it to charitable organizations.
Types of Funds
Unrestricted Funds
Unrestricted Funds enable the foundation to direct grants to meet the community's ever-changing needs, which often cannot be anticipated at the time your gift is made. The Foundation staff and Board evaluate all aspects of community well being and then award grants to make a difference in the areas where they are needed most.
Donor Advised Funds
Donor Advised Funds may be of a permanent or nonpermanent nature. They provide for continuous donor involvement by allowing you to make recommendations to our Board of Trustees for grants to charitable organizations that address the community needs you care about most. The Community Foundation's professional grant making staff help identify worthy causes and is responsible for managing all the administrative details. Recommendations for grants must be approved by the Foundation's Board of Trustees.
Field of Interest Funds
You may target your gift to address needs in an important area of community life, such as housing, youth, education, health or the environment. You identify your personal interest area when making your gift, and the Board of Trustees awards grants to community agencies and programs that are making a difference in the area you select.
Scholarship Funds
You can fulfill the educational dreams of students and invest in our community's future by helping students achieve their education and career goals. Scholarship Funds are established to honor loved ones, inspire young people or simply to offer the gift of education. Award criteria are specified by the donor at the time the fund is established and the Foundation staff and Scholarship Committee takes care of publicizing it, selecting candidates and paying the award.
Designated Funds
You may choose to support the work or programs of a specific agency, which is designated at the time the fund is established. This is a permanent Fund of the Community Foundation and our staff manages the annual distribution of income to support the work of the nonprofit organization.
Agency Funds
An Agency Fund is a partnership between your nonprofit organization and the Foundation. Your long-term objectives are supported with the financial stability offered by yearly revenue grants. The Community Foundation provides investment management and administration, allowing you to focus on your charitable work in the community.
Community Project Funds
Project Funds are non-endowed charitable funds that provide an opportunity for The Foundation to offer service and leadership within the community. These funds vary in size, activity level, fee structure and longevity. Although charitable, contributions to these non-endowed funds do not qualify for the State of Michigan Tax Credit.