Types of Funds

A fund may be established in an individual donor’s name, spouse’s name, company name or any other title the donor desires. The Foundation can advise donors on the type of fund most advantageous to them. The following are funds available through the Foundation:

Designated Funds

A Designated Fund allows donors to select a specific charity or charities to receive annual, long-term distributions of interest earned by the fund. The fund can be named after the donor. The Foundation regularly reviews designated charities to make sure that grants to these groups remain relevant over time and responsive to changing circumstances.

Scholarship Funds

Scholarship Funds enable individuals, families, companies, and organizations to help students pursue their academic goals. The Foundation administers the scholarship and donors may choose to determine the guidelines. Recipients are selected by both school and Foundation representatives.

Field of Interest Funds

A Field of Interest Fund allows donors to support areas of specific interest such as the arts, human services, education, health, the environment, the elderly or other interests they may have. Foundation Trustees make grants to support programs and projects within the field of interest donors have specified.

Pass-Through Funds

Pass-Through Funds are wholly expendable to grant recipients over a period of time as determined by the agreement between the donor and the Foundation. They may be Discretionary, Designated or Field of Interest Funds.

Donor-Advised Funds

Donor-Advised Funds allow donors and a second generation to advise Foundation Trustees on the distribution of funds to specific eligible charities. The recommendations reflect the donor’s interests and the donor may make recommendations at any time during the year. Grants can be made outside
of Jackson County. Donor-Advised Funds may be Endowed or Pass-Through, Discretionary or Field of Interest Funds.

Unrestricted Funds

Unrestricted Funds allow the Foundation Trustees the greatest flexibility to award grants to projects or programs that have the greatest need at any given time. The fund can be named for the donor.

Agency Funds

Agency Funds enable an agency to establish its own fund with the Foundation Trustees handling the investment and management of the assets, distributing the earnings to the agency.

Legacy Funds

Legacy Funds recognize individuals who wish to benefit our community through careful estate planning. It can be through a bequest in their will or by naming the Foundation as a beneficiary of a life insurance policy, retirement plan or trust.

One of the best ways for individuals to handle a bequest is to write a letter to their personal representative and attach it to their will. Changes can then be made by rewriting the letter rather than redoing the entire will.