Crawford County Non Profit Fund Types
The Community Foundation for Crawford County currently offers a number of fund types in order to satisfy the donor’s intent. We are always happy to talk to a donor about additional types of funds that we do not currently offer. Please contact us if you wish to discuss other possibilities.
UNRESTRICTED FUNDS are made to the CF4CC with no restriction as to how they will be used, making them the most flexible way of giving. This unrestricted income allows the CF4CC to meet demanding needs of the community’s not-for-profit organizations, schools, and municipalities. By putting your trust in the Board of Trustees, the CF4CC is able to adjust our giving as needs demand.
DESIGNATED FUNDS are established by the donor with the intent that the income from the fund will go directly to the charitable organization(s) of their choice. The income is usually distributed to the organizations annually, and they may use this income in any way they deem responsible.
SCHOLARSHIP FUNDS are established by the donor according to their interests and restrictions; such might be limiting the award to graduates of a certain high school or only be awarded to students pursuing a certain academic field upon graduation. The options are almost limitless as long as they follow the general guidelines of the Foundation. There is no minimum gift to start a scholarship fund; however, in order for the fund to be invested, it must contain at least $5,000. For the fund to be endowed, it must contain at least 25,000.
FIELD OF INTEREST FUNDS are similar to designated except that, instead of being directed to specific organizations, the donor directs grants to be made to certain community needs, such as music education, children with disabilities, recreation, or historic preservation. This type of fund allows for more flexibility but still supports the wishes of the donor.
AGENCY ENDOWMENT FUNDS are held for a charitable organization with the income given to the agency on an annual basis. These funds may be established with current endowment funds and can be continually grown by additional gifts, fundraising events, or the like. A minimum gift of $5,000 is required to start an Agency Endowment Fund.
DONOR ADVISED FUNDS are permanently endowed funds established by a donor. The donor then acts as an advisor(s) for the fund and provides recommendations to the Foundation about distributions from its spendable portion. The advisor(s) may also name one generation of successor advisor(s) and make a recommendation for the fund's termination. A Donor Advised Fund may be established with a minimum initial contribution of $10,000.
- Donors will meet with a Foundation representatives to sign a contract of understanding that specifies the fund type being established, fund name, and initial contribution amount.
- Minimum contributions are dependant on the type of fund being started. The Foundation is flexible however and will gladly work with a donor, family, or organization to establish and manage the fund until it reaches the minimum requirements.
- An annual administrative fee is charged for the management of the fund. The fee structure will vary from 1.0% to 1.5%, depending on type of the fund being established.
- The Board of Trustees of the Foundation has the responsibility of overseeing the investments of the fund. It is the goal of the Board to achieve a balance of fixed income with equities to provide a steady source of income that will keep pace with inflation over the years.
- The organization is informed upon receipt of the annual check of precisely which fund has contributed. The CF4CC routinely publicizes all grant-making awards, including the name of the funds distributing money. Named funds are also mentioned regularly in our annual newsletters, financial reports, and other promotional materials.