To establish a fund within the Foundation a minimum donation is required based on fund type. We allow donors five years to reach this minimum donation.
Unrestricted Fund for Community Grants
Unrestricted funds are key to maintaining flexibility in meeting future needs. Unrestricted funds are responsive to changing needs, in that income from such endowments may be distributed through grants, for purposes and projects where the need is the greatest. Minimum amount to establish fund: $5,000.
Field of Interest Fund
Donors specify a general purpose or geographic area for which the funds are to be spent and the Foundation makes grants to the most appropriate programs or organizations. Examples would be funds for children, senior citizens, the needy or a community within the county. Minimum amount to establish fund: $5,000.
Donors create funds designated to provide support for a particular purpose or institution. Examples would include charitable organizations in Henry County and several community parks departments. Minimum amount to establish fund: $5,000.
Donor Advised Fund
Donors create advised funds to achieve maximum convenience and flexibility by contributing at any time, and then making recommendations to specific charitable institutions and causes that communicate the family’s charitable interests. This type of fund allows donors the flexibility to recommend different things each year. Minimum amount to establish fund: $25,000.
Donors create a fund to provide scholarships so that deserving students may pursue the education they desire. The scholarship can be specific to high school attended or course of study or institution planning to attend or as general as a resident of Henry County. Minimum amount to establish fund: $12,500.
A nonprofit organization may wish to establish a permanent endowment to provide it with a stable source of income, now and forever. Most major charities in Henry County have an endowed fund. These funds range from the hospital to numerous youth organizations. Minimum amount to establish fund: $5,000.
Special Note: Donors may wish to donate to an existing fund or to establish a new fund using their name to create a permanent legacy. If you would like to see a sample of a fund agreement, contact the Community Foundation, and we will be happy to assist you.
Endowed funds are permanent. The money donated to an endowed fund will be invested along with the rest of the endowed funds held by the Community Foundation. Currently, four percent (4 %) of the fund balance can be spent annually for the charitable purpose stated in the fund agreement.