South Central Community Foundation: Donors

Endowed or Permanent Funds – are created by donors who want to preserve the principal of a gift and expend only the earnings. The purpose of endowment funds is to provide a steady funding stream to charities with growth of the fund over time.

Donor-advised Endowment Funds - allow the donors, or other specified family members to suggest grant recipients from their fund. Although the law requires that the South Central Community Foundation have ultimate control of these funds, the donor’s recommendations are followed as long as they are legally permissible.
Designated Endowment Funds let donors support a specific organization or organizations. The donor names the charitable recipients. The Foundation administers gifts to the charities annually. In addition, the Foundation makes sure that these recipients remain relevant over time. When circumstances change and a charitable organization no longer exists, the Foundation ensures that the annual gifts from the designated fund are redirected to an appropriate charitable need, all the while keeping in mind the donor’s original intent.
Field of Interest Endowment Funds - allow donors to support a specific purpose, geographic area or charitable goal, without designating a specific organization or charity. For example, a donor may wish to establish a fund that will provide annual grants that benefit healthcare, the arts, education, the elderly or disabled.
Unrestricted Endowment Funds - allow donors without a specific charitable organization in mind to make a contribution to the SCCF Community Impact Fund. Distributions from this fund are determined by the grant making process. Charitable agencies can apply for a grant and the SCCF Grants Committee and Board of Directors will determine recipients.
Scholarship Funds – can be established by memorial funds, direct donations or bequests. Donors can recommend criteria for selection of the scholarship recipient. Awards can be given for a specific institution, for a specific field of study, or can be built around a certain student profile
Pass-through or Non-permanent Funds – are created by donors who desire the foundation to administer their charitable grants, but who do not wish to maintain a permanent, endowed fund. Gifts to Pass-through funds allow for expenditure of the principal.

Agency Funds enable not-for-profit charitable organizations to establish funds without having to create a separate legal organization. The Foundation provides administrative, investment and accounting services for these endowments. Organizations may request to receive an annual distribution from their fund, or simply let their fund continue to grow for future needs. Organizations may access principal in case of emergency.