The Community Foundation can design a Charitable Endowment or a Non-Endowed Charitable Fund, known collectively as “charitable funds,” to accomplish a wide range of charitable goals.
The majority of donors who choose to fulfill their charitable goals through the Community Foundation do so largely by creating one of several variations of charitable endowments, used traditionally to present grants, scholarships, or awards. Simply stated, the purpose of an endowment is to provide a perpetual source of charitable giving.
When you make a contribution to establish or supplement a charitable endowment, we invest that contribution for long-term growth. We then use a percentage of the endowment each year (approximately 4%) to fulfill your charitable goals. Through careful management of our investments, our endowments continue to grow, along with their impact within our community.
Non-Endowed Charitable Fund
Some donors instruct the Community Foundation to use their contributions immediately, and in their entirety, to fulfill their charitable goals. In those instances, we will hold your contributions in one of several variations of non-endowed charitable funds, from which we will present grants, scholarships, or awards according to your charitable wishes.
This form of account is very useful for local businesses partnering with the Community Foundation to manage the administrative details of their community philanthropy.
Individual donors who wish for their annual philanthropy to remain anonymous also make use of non-endowed charitable funds to achieve their charitable goals.