Fund Types

Community Endowment or Unrestricted Funds

Recognizing that the community's challenges and needs will change, donors have established community endowment funds to address the changing needs of Howard County now and forever. Donors can entrust the Foundation with the selection of the most needed programs to receive grant funding based on a competitive process.

Donor Advised Funds

Donors may be actively involved in the grantmaking process by recommending which qualified charitable organizations should receive grants from their advised fund. These flexible funds enable donors to address a wide variety of issues as their charitable interests and priorities change over time.

Designated/Agency Funds

Donors may identify one or more charitable organizations to receive an income stream forever. If at some time in the future the named charity is no longer recognized as a 501(c)(3) organization, the Foundation Board of Directors has the variance power to select another organization with a similar purpose to benefit from the fund.

Field of Interest Funds

A field of interest fund allows donors to support a broadly defined area, such as the arts, youth, health, etc. The Foundation awards funding through a competitive process to the most needed programs within the donor's area of interest of the fund.

Scholarship Funds

Donors may customize a scholarship fund to provide educational opportunities for graduates of certain schools, for studies in specific fields or for programs at particular institutions of higher education. In addition, donors may select eligibility requirements.

Operating Endowment Funds

Donors support the work of the Community Foundation through their gifts to operating endowment funds, which provide support to the operating budget of the Foundation forever.

Non-permanent Funds

Short-term programs or special projects

Legacy Funds

A way for our donors to grow an endowment fund that will provide a permanent income stream to the charitable organization of their choice.

Create a New Fund

If you aren't interested in donating to an existing fund, you may create your own.

To learn more about these fund types and how each would best work for you, call (765) 454-7298 or email us to ask a question or schedule an appointment.

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