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TYPES OF FUNDS

General Fund

Unrestricted fund, provides flexibility so Foundation can respond to changing community needs. This is the most flexible gift made to the Foundation and enables the Foundation to respond to changing community needs from year to year. The Board of Directors is given discretion to make grants from the annual earnings for a broad range of community needs. It may be named by the donor, or become part of a pool of other unrestricted gifts.

Affiliate Funds

Permanent endowments of local non-profit organizations. A non-profit agency or organization places its endowment funds with the Foundation for management and investment. The Foundation regularly distributes earnings to the agency/organization for its use according to the established contract guidelines. The agency/organization should contact the Sherman County Community Foundation to discuss the establishment of an affiliate fund.

Field-of-Interest Funds

Permanent endowments for identified program areas. The donor transfers an irrevocable gift to the Foundation for investment and management. The donor directs the SCCF to make grants from the annual earnings in a specific program area. The Foundation or its designated advisory committee chooses the specific recipient from among those submitting grant requests that meet the criteria for that field of interest. The fund can be named by the donor or added to the pool of other funds designated for that field of interest. Examples currently supported by the SCCF are:

bulletCultural/Arts
bulletEducation
bulletHealth Care
bulletHistoric Preservation
bulletRecreation

Endowments

Named in honor of a specific person, or for an agency/organization. The donor irrevocably transfers assets to the Foundation and designates a specific named agency/organization to receive grants from the annual earnings forever. The Foundation owns the fund and works with the donor if questions arise. A donor who wishes others to add to the fund usually names it for the agency/organization.

Pass-Through Funds

Non-permanent funds for specific projects. Entire fund will be spent to complete project. Donors transfer funds to the Foundation for a specific purpose to be managed, invested, and disbursed over the life of the project. The project must be presented to the Foundation Board of Directors on the required form and approved before funds can be placed with the Foundation. Pass-Through projects are short-term in nature and are expected to be completed in one to three years.

Current List of Funds

Forms:

bulletApplication to Request Establishing a Designated (Directed) Fund
bullet Application to Request Establishing a Pass-Through Fund
bullet Application to Request Funds from Sherman County Community Foundation