Types of Funds
The Huron County Community Foundation offers a variety of fund options:
Donor Advised Funds
One of our most appealing charitable vehicles is the donor advised fund. This type of fund enables donors, or their designees, to recommend grants based on their personal interests. Donors receive both tax and philanthropic benefits in a simple format with a high degree of flexibility
Unrestricted funds are gifts to the Community Foundation’s unrestricted general fund. Grants are issued from this fund to area non-profits, through a competitive process, that respond to current needs of the community. Unrestricted funds are flexible to changing times and needs, and assure that future generations will have the resources to meet the emerging needs of the community.
Agency funds or endowments can be created to perpetually support your community’s non-profits. Agency funds hold assets for a charitable organization and provide a yearly distribution to meet the organization’s needs. An agency fund increases investment yield since the endowment is pooled with other funds at the Foundation to receive maximum return and lower fees due to the size of the funds.
Designated funds are established to ensure that support will be provided to specific eligible non-profit organizations, often organizations that donors have been involved with during their lifetimes. Many donors establish designated funds to endow the charitable giving that they’ve enjoyed throughout their lifetimes. This is an opportunity to leave a lasting legacy in the donor’s name.
Field of Interest Funds
Field of interest funds allow the donor to focus on one or more areas of concern such as the arts, education, or environment, yet they do not restrict grants to any one organization.
Individuals, families, companies, or organizations can establish scholarship funds. Often scholarship funds memorialize a loved one or honor a special person. Once in place, a scholarship fund continues to grow with additional contributions from the original donors, from other’s contributions, and through market growth. The donor of a scholarship fund has the ability to define the scholarship’s advisory committee and the criteria for the awardee.