Advertisement

Fund categories

January 13, 2003

The Community Foundation of Washington County offers a variety of fund categories to help support a myriad of worthy causes and charitable interests.

  • Community Funds address the local community's needs relating to arts and culture, education, health care, human services, environment and historic preservation. Community members who serve on the Foundation's Board of Trustees' Grants Allocation Committee oversee distribution of these funds.

    Community Funds can not be used to support annual operating expenses, endowment campaigns, projects that receive public tax support, sectarian religious programs, political activities, fund-raising events, financial assistance for students in kindergarten through grade 12, deficit retirement or organizations with programs based outside Washington County.

  • Designated Funds provide a way for donors to specify one or more organizations to receive annual or periodic contributions.

  • Donor Advised Funds allow donors to remain actively involved by recommending grants to be made to their favorite charities.

  • Field of Interest Funds support one or more general areas of interest - such as education, arts or social services - selected by the donor. The funds are not tied to a single organization.

  • Provisional Funds allow donors to make periodic contributions to the Foundation at their convenience, with the option of giving the entire principal and interest to charities over time. Provisional Funds are popular because donors can get the benefit of a full tax deduction without having to decide right away how they want to designate their contributions.

  • Scholarship Funds benefit local students. Donors may determine specific criteria and participate in the selection process.



Designated and Donor Advised Funds have proven the Foundation's most popular due to the amount of donor involvement, Executive Director Bradley N. Sell said.

Advertisement

In the last fiscal year, the Foundation's distributions though Provisional and Donor Advised Funds increased 80 percent - from about $136,300 to nearly $246,000, Sell said.

Donor Advised and Provisional Funds eventually roll over into the Community Fund, generally after the death of the donor or the second generation of the donor's descendants, Sell said.

The Herald-Mail Articles
|
|
|