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Types of Funds

There are two ways in which charitable gifts may be arranged. One arrangement is to set up a gift as a permanent endowment. With this arrangement the principal is invested, with only the investment earnings used to make grants – thus assuring the perpetual use of the gift. The other arrangement is known as nonpermanent with the principal and any interest earnings available to make grants. This arrangement is often used to meet the funding needs of certain capital projects.

The following types of funds can be created with the Grant County Community Foundation as permanent endowments, nonpermanent funds or a combination of these two arrangements.

Unrestricted Funds

This type of fund is for donors who have broad community interests and want to give GCCF the most flexibility in deciding what organizations their funds should support. Donors who establish unrestricted funds become partners by entrusting their assets with the Foundation. They are assured that the Board of Directors would direct those funds to the organizations addressing the community's most pressing needs.

Minimum contribution of $10,000, payable over 5 years. Fund is donor named, with grants from interest given to specific organizations chosen by the GCCF Grant Committee based on knowledge of community needs.

Donor-Designated Funds

The Foundation serves as a partner with donors in a very special way to specify a particular organization or particular cause. The Foundation makes these grants perpetually.

Minimum contribution of $10,000, payable over 5 years. Fund name is determined by donor, with grants from interest given to specific organizations selected by the donor at the time the fund is established.

Donor-Advised Funds

These funds are typically used to promote "family philanthropy" by having donors and their heirs suggest possible grant recipients. This type of fund provides great flexibility to the donor while avoiding the costs and demands of a private foundation. The donor has the option of creating a permanent or nonpermanent fund.

Minimum contribution of $10,000, payable over 5 years. Fund is donor named, with grants from interest given to organizations selected yearly by the donor.

Field Of Interest Funds

These funds offer support to charitable causes of particular importance to the donor. Donors become partners with the Foundation by specifying the area that most concerns them. The Foundation then makes grants to the most appropriate programs or organizations within that specified area. Fields include: Arts/Culture, Education, Health & Well Being, Environment, Human Services, Recreation, Development and Youth.

Minimum contribution of $5,000, payable over 5 years. Fund is donor named, with an area of interest designated. Grants from interest given to organizations within that specified area.

Agency Funds

These funds are established to benefit the sponsoring organization. The organizations have the availability of creating both a permanent and nonpermanent fund. The intent of these funds is to help them ensure the future of their causes for years to come.

Minimum contribution of $10,000, payable over 5 years. Arrangements of these funds are created by each individual organization. The establishing organization benefits from the earnings and interest gained on these funds.

Community Betterment

This fund was created to support Grant County. Gifts to the foundation without a specified designation are added to this fund. It includes one-time gifts, honorariums, memorials etc.

Any amount may be given to this fund: Memorials, yearly contributions, one-time donations, etc. Interest will be given as grants chosen by the Grant Committee of the Foundation based on knowledge of community needs.

Funds for the Future/Legacy Society

These funds are deferred gifts that will transfer assets to the Foundation at some time in the future. The donor may specify the purpose for which these funds are to be used when the fund is established, or the donor may decide to let the Foundation make grants where the funds are most needed in the community.

 

   © 2012

 

     GRANT COUNY COMMUNITY FOUNDATION  P.O. Box 65, Ulysses, Ks. 67880  620-356-4223  grantccf@gmail.com