Types of Funds
The Community Foundation of Madison and Jefferson County administers approximately 150 permanent charitable funds - each with a purpose that mirrors an individual, family, group or organization's particular philanthropic goals.
The Foundation has eight categories of funds, with options to meet both your short and long-term philanthropic goals.
An Unrestricted Fund is used to address needs within our community as they change over time. Unrestricted Funds support the Foundation's competitive grantmaking process. Typically, twice a year, the Foundation's Grants Committee screens and selects projects that benefit Jefferson County. An Unrestricted Endowment Fund can be created with a minimum of $5,000.
A Field of Interest Fund supports a particular area of interest. At the inception of the fund, you can identify an issue that is important to you. From the environment to the arts and more, our staff, Grants Committee and Board of Directors identify projects that elevate and support your specialized interests. A Field of Interest Endowment Fund can be created with a minimum of $5,000.
A Donor Advised Fund offers donors maximum flexibility over charitable distributions. As the fund advisor, you can recommend distributions to specific charitable organizations. Donor Advised Funds are a cost-effective and efficient alternative to a private or family foundation. A Donor Advised Endowment Fund can be created with a minimum of $5,000.
A Designated Fund provides a steady stream of income to one or more specific charities - forever. Most people designate a recipient of their present charitable giving. A Designated Agency Endowment Fund can be created with a minimum of $5,000.
An Agency Fund lets nonprofit organizations create permanent endowment funds. We handle all administrative and investment responsibilities, freeing the organization to pursue its mission. An Agency Endowment Fund can be created with a minimum of $5,000.
A Scholarship Fund supports students pursue their academic goals. You may define guidelines for candidacy, the advisory committee, the school and the award itself. A Scholarship Endowment Fund can be created with a minimum of $20,000.
An Acorn Fund offers individuals and charities the option to build a permanent endowment over time. Rather than giving $5,000 immediately to establish an endowment, you pledge a minimum annual contribution of $500 to build a fund. Once $5,000 is accumulated via gifts and interest, the Acorn Fund matures to an endowment. At that time, you select the fund type: Unrestricted, Donor Advised, Designated or Field of Interest. An Acorn Fund can be created with a minimum of $500.
A Passthrough or Non Permanent Fund is a short-term vehicle for current charitable giving purposes. These charitable checking accounts allow you to make a lump sum contribution to the Foundation, receive the tax benefit today, and recommend distributions to charities when you're ready. Local charities can also create passthrough funds to broaden the types of gifts they can receive for capital campaigns. Passthrough Funds can be established with just $1,000 and no minimum balance is required.
