Falls Park on the Reedy River Endowment Fund
Unrestricted Funds: proactive and responsive
Unrestricted funds are not specifically designated for use by a particular agency, cause or area of interest. Unrestricted funds give the Community Foundation the ability to respond to pressing and often changing charitable needs in the community. The Board of the Community Foundation oversees the use of these funds and determines how grants will be distributed. This includes both endowed and non-endowed funds.
Donor-Advised Funds: involved annual giving
Donor-advised funds are established by individuals, families and companies who wish to actively participate in the grantmaking process. Donors recommend charitable projects or organizations they want to support. It is easy to give to multiple non-profit organizations through a donor-advised fund. This is a non-endowed fund.
Designated Funds: ongoing support
Donors who wish to support a specific agency or cause can establish a designated fund. If the original charity ceases to exist, becomes obsolete or is unable to perform its charitable purposes, the Community Foundation Board is able to redirect the funds to an organization providing similar services without expensive legal action. This is usually an endowed fund. Some donors allow charities to request distributions of principal and income.
Field of Interest Funds: target specific issues
The donor decides the general purpose of the fund, such as education, arts, health, or specific geographic areas and the Community Foundation identifies projects and non-profit organizations that are effectively accomplishing that goal. At the donor's request, use of the funds is restricted to a specified area of interest, but flexibility remains to adjust for changing situations. This is an endowed fund.
Scholarship Funds: educational support for students
Scholarship funds can be structured to benefit students at any education level or for a specific institution. Some donors choose to stay involved through advisory relationships while others name advisory committees to assist in the selection of recipients. The Community Foundation staff will handle the necessary paperwork and ensure that the scholarships are distributed in an equitable manner. This is an endowed fund.