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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:
 | Cultural/Arts |
| Education |
| Health Care |
| Historic Preservation |
| Recreation |
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.
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