Fund Options
Funds may be endowed or remain fluid. Endowed funds are the most preferred, as they provide grant funding in perpetuity and enjoy a
much greater long-term rate of return. Non-permanent, or "pass-thru" funds are usually established as administrative tools for
non-profit organizations or as temporary granting tools for donors who wish tosee their funds depleted within a lifetime.
Unrestricted
Through an unrestricted fund, the donors allows the community foundation discretion on the use of available grant dollars for a broad
range of community issues. This provides the foundation the opportunity to respond to changing community needs.
Donor-Advised
Most donor-advised funds are unrestricted, in which the donor actively participates in the grant-making process by recommending to
the community foundation's board of directors the purpose and/or organization(s) that might receive the available grant dollars. The
foundation's board then has final approval of these recommendations. Donor-advised funds may contain purpose restrictions within
their fund agreements, however, which limits the distribution of grant monies to fit within the restrictions placed by the donor.
Field of Interest
For a field of interest fund, the donor instructs the community foundation to utilize available grant monies in a certain program area,
such as education, health, youth, the environment, etc., with the foundaiton determining the specific recipient(s).
Designated
A designated fund is simply that--a fund which provides grant dollars to the specified -- or "designated" -- recipient.
Scholarship
These funds are established to provide support for individuals pursuing some training or educational opportunity, as outlined in each
individual fund agreement. Grants may be awarded to educational institutions for the benefit of the students selected. Foundations
may classify a scholarship fund as a designated fund if the designated organization--instead of the foundation's selection
committee--handles the process of selecting recipients.
Operating/Administrative
These funds can be either non-permanent or endowed, depending on whether the entire fund is to be available for "spending", or if
only the allotted percentage of investment income is to be used for operating or administrative costs. Some operating/administration
funds are listed as designated pass-thru funds for expenses.
Supporting Organizations
A charitable organization or group, or even a charitable fund, may choose to participate in the mission of the Foundation by becoming a
supporting organization. Supporting organizations follow the guidelines and practices of a community foundation, but maintain
separate boards and committees. SO programs and activities are subject to the approval of the OCCF Board of Directors.
Funds may be endowed or remain fluid. Endowed funds are the most preferred, as they provide grant funding in perpetuity and enjoy a
much greater long-term rate of return. Non-permanent, or "pass-thru" funds are usually established as administrative tools for
non-profit organizations or as temporary granting tools for donors who wish tosee their funds depleted within a lifetime.
Unrestricted
Through an unrestricted fund, the donors allows the community foundation discretion on the use of available grant dollars for a broad
range of community issues. This provides the foundation the opportunity to respond to changing community needs.
Donor-Advised
Most donor-advised funds are unrestricted, in which the donor actively participates in the grant-making process by recommending to
the community foundation's board of directors the purpose and/or organization(s) that might receive the available grant dollars. The
foundation's board then has final approval of these recommendations. Donor-advised funds may contain purpose restrictions within
their fund agreements, however, which limits the distribution of grant monies to fit within the restrictions placed by the donor.
Field of Interest
For a field of interest fund, the donor instructs the community foundation to utilize available grant monies in a certain program area,
such as education, health, youth, the environment, etc., with the foundaiton determining the specific recipient(s).
Designated
A designated fund is simply that--a fund which provides grant dollars to the specified -- or "designated" -- recipient.
Scholarship
These funds are established to provide support for individuals pursuing some training or educational opportunity, as outlined in each
individual fund agreement. Grants may be awarded to educational institutions for the benefit of the students selected. Foundations
may classify a scholarship fund as a designated fund if the designated organization--instead of the foundation's selection
committee--handles the process of selecting recipients.
Operating/Administrative
These funds can be either non-permanent or endowed, depending on whether the entire fund is to be available for "spending", or if
only the allotted percentage of investment income is to be used for operating or administrative costs. Some operating/administration
funds are listed as designated pass-thru funds for expenses.
Supporting Organizations
A charitable organization or group, or even a charitable fund, may choose to participate in the mission of the Foundation by becoming a
supporting organization. Supporting organizations follow the guidelines and practices of a community foundation, but maintain
separate boards and committees. SO programs and activities are subject to the approval of the OCCF Board of Directors.
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