CARROLL COUNTY

Funds

Create a New Fund

If you aren't interested in donating to an existing fund, you may create your own. To learn more about these fund types and how each would best work for you, call (765) 454-7298 or email us to ask a question or schedule an appointment.

Community Endowment or Unrestricted Funds

Recognizing that the community's challenges and needs will change, donors have established community endowment funds to address the changing needs of Carroll County now and forever. Donors can entrust the Foundation with the selection of the most needed programs to receive grant funding based on a competitive process.

Donor Advised Funds

Donors may be actively involved in the grantmaking process by recommending which qualified charitable organizations should receive grants from their advised fund. These flexible funds enable donors to address a wide variety of issues as their charitable interests and priorities change over time. Please Note: You cannot direct a Qualified Charitable Distribution/IRA Charitable Rollover to a Donor Advised Fund or a Sec. 509(a)(3) supporting organization.

Designated/Agency Funds

Donors may identify one or more charitable organizations to receive an income stream forever. If at some time in the future the named charity is no longer recognized as a 501(c)(3) organization, the Foundation Board of Directors has the variance power to select another organization with a similar purpose to benefit from the fund.

Field of Interest Funds

A field of interest fund allows donors to support a broadly defined area, such as the arts, youth, health, etc. The Foundation awards funding through a competitive process to the most needed programs within the donor's area of interest of the fund.

Scholarship Funds

Donors may customize a scholarship fund to provide educational opportunities for graduates of certain schools, for studies in specific fields or for programs at particular institutions of higher education. In addition, donors may select eligibility requirements.

Operating Endowment Funds

Donors support the work of the Community Foundation through their gifts to operating endowment funds, which provide support to the operating budget of the Foundation forever.

Non-permanent Funds

Short-term programs or special projects

Legacy Funds

Sometimes a great idea needs a little time to grow. That's why we created our 'Legacy Fund' as a way for our donors to grow an endowment fund that will provide a permanent income stream to the charitable organization of their choice.

Funds established under the Legacy Fund program are intended to grow to the $12,500 minimum over a period of six years. The first payment would be $1,000, and additional payments can be made for any amount at any time by anyone.

This meets the needs of the donor who has the desire to start a fund but requires a little more time in fulfilling the minimum. As the donor builds the fund, the Foundation will reinvest and credit all interest, dividends and market returns to the fund.

Once the fund reaches the $12,500 minimum, the income will be used to award grants from the fund.