GIVE

Establish a Fund

Powerful Giving Begins With You

The Community Foundation Serving Howard, Clinton and Carroll Counties allows and encourages flexibility in the causes a donor may wish to support through giving. Whether you want to be highly involved in recommending funding decisions, or prefer to rely on community experts to determine funding needs, we offer a variety of fund types that can help you achieve your philanthropic goals.

Types of Permanent Funds

Community Endowment or Unrestricted Funds

Recognizing that the community's needs will change, donors have established community endowment funds to address challenges now and in the future. Donors entrust the Foundation with the selection of the most needed programs to receive grant funding based on a competitive process. This flexibility allows the Foundation to support the evolving needs of the community.

Donor Advised Funds

Donors can be actively involved in the grantmaking process by recommending which qualified charitable organizations receive grants from the fund. A wide range of charitable needs can be addressed based on the donor’s interests.

Field of Interest Funds

This fund type allows donors to support a broadly defined area of interest such as the arts, youth, education, or health. The experienced Grantmaking Committee and staff at the Foundation act as stewards by awarding funds to organizations making impact in those areas.

Designated/Agency Funds

Donors identify a single charitable 501(c)3 organization to receive an income stream forever. Designated/Agency Funds create impact by providing sustainable funding to a worthy nonprofit.

Scholarship Funds

Donors may wish to provide opportunities for students pursuing higher education. Scholarship funds are a great way to assist students in achieving their educational goals and combat the rising cost of tuition. Donors can advise on the criteria used in selecting a recipient. All scholarship determinations shall be made by a scholarship committee entirely appointed by the Community Foundation’s Board of Directors, and on which the Donors shall not serve.

Things to Consider

We are grateful to any donor wishing to establish a fund with the Foundation. Before establishing your fund, please keep the following in mind:

  • Anyone may establish a fund with a gift of $12,500 or more.

  • Gifts to a permanent fund are invested into the Foundation’s investment pool and will share the market returns with other permanent funds. Funds are carefully managed so there will be income for the donor's intended purpose.

  • Only the income for the fund can be used to award grants. The income is calculated using the average of the last twelve quarters’ market value.

  • Grants are made from a permanent fund once it generates $500 per year in earnings.

2024-2025 Opportunity:

The Community Foundation Serving Howard, Clinton and Carroll Counties has received matching fund grants totaling $1,500,000 for Howard County and $750,000 each for Clinton and Carroll as part of the eighth phase of Lilly Endowment Inc.’s initiative, Giving Indiana Funds for Tomorrow (GIFT VIII). Through GIFT VIII Lilly Endowment has awarded matching fund grants totaling $133.8 million to community foundations serving all 92 of Indiana’s counties. Eligible community foundations submitted proposals requesting grants ranging from $100,000 to $15,000,000 based on the population of the counties they serve.

The grant triples donations by matching $2 for $1 donated to any new or existing Community Endowment (Unrestricted) Fund. The goal is to raise $750,000 in Howard, and $375,000 in both Clinton & Carroll Counties by December 31, 2025. For further details or to get involved, please reach out to Emerald Blankenship, 765-454-7298.

What to Expect After Establishing a Fund

Your fund will be recognized across several of our publications, and you will be notified annually about activity relevant to your fund. You can expect:

  • An annual fund distribution letter and statement showing the fund’s activity from the previous year will be sent to you in the first quarter.

  • For designated funds, the annual distribution will be sent to your named nonprofit organization in June.

  • The Foundation will provide scholarship administration for scholarship funds.

  • Your fund will be listed in the following:

- Annual Report

- Year-End Brochure

- Foundation website

- Celebrating Our Scholars newsletter (scholarships only)

  • Donors to your fund will receive a letter acknowledging their charitable gift. This letter can be used for tax purposes.

  • A letter will be sent notifying you that a gift has been made to your fund (gift amount does not show in this letter).

Learn More About How to Give

Please contact our Senior Vice President, Emerald Blankenship, for any inquiries or to establish your fund. Call us at (765) 454-7298, or email Emerald at emerald@cfhoward.org.