Council Grove Types of Funds to Select From
The Council Grove Area Foundation consists of many different types of funds. Each fund has a different purpose. Fund options are available so it is easier for donors to direct a gift to their favorite charity or project. The following are the most popluar fund types to select from to help you in establishing your giving plan.
Unrestricted
This type of fund allows the Foundation's Board of Directors the most flexibility in responding to emerging problems or needs in the community.
Designated
You may designate on or more specific organizations and those designations will be honored through the years as long as the organization delivers the services that the donor wished to support. Should that organization discontinue operations, programs with similar goals wil be identified so that programs with similar goals will be identified so that the charitable interest of the donor is fulfilled.
Acorn Fund
Donors can start an Acorn Fund with a $100 minimum gift with a commitment to build the fund over an indefinite period of time. Once the fund reaches $10,000, the earnings from the fund may be awarded to organizations of the Donors choice.
Donor Advised
Donors can establish a fund that enables them to make suggestions about distributions from time to time, remembering that the IRS regulations require that ultimate control over the fund must be vested in te Foundation.
Field of Interest
A donor can establish a field of interest fund designated to benefit certain areas of charitable endeavors such as arts, preservation, education, social services, etc.
Agencies or Organizations
These groups may wish to establish their own endowment fund while making use of the Foundation tax benefits and pooled investing.