Types of Funds

Types of Funds

Incourage Community Foundation currently administers more than 400 individual charitable funds. Each of these funds is a reflection of their founding donors, and every fund benefits from the economies of scale achieved when charitable assets are pooled for administrative and investment purposes.
  • Each individual fund can be broadly defined as ‘Unrestricted’ or ‘Restricted’. Donors make the choice based on personal preference and charitable interests.
  • All fund types may be established anonymously if so desired.

Unrestricted Funds

Community Grant Funds

This is an endowed fund that generates interest and earnings in the name of the donor. The Incourage Grants Committee determines who the beneficiaries of these grants are through a quarterly application process open to all charitable organizations serving south Wood County. These grants support changing needs in the broadly defined areas of: education, health & human services, arts & culture and community development.

It is the unrestricted funds that are the most flexible and used to meet the immediate and changing needs of our community. The minimum required to establish a named, endowed unrestricted fund is $5,000. The general unrestricted fund accepts contributions of any size.

Restricted Funds

The following types of funds are termed “restricted” because they have a donor-imposed restriction when established that must be honored by Incourage.

Field of Interest

This endowed fund is for the donor who has an area of interest they would like to support such as youth, the arts, elderly, education and so forth. The grant decisions are left to the Incourage Grants Committee which must award the grants in the area of interest specified by the founding donor. These grants are available to area charitable organizations through the quarterly application process. Grantees receive their awards in the name of the founding donor(s). The minimum required to establish an endowed field of interest fund is $10,000.

Designated

This endowed fund appeals to the donor who knows which organizations they would like to perpetually support. Up to three charitable organizations may be named as the permanent beneficiaries of the grant awards from a designated fund. Each year (or as often as the donor stipulates) the organization(s) receives a grant distribution check in the name of the founding donor(s). The minimum required to establish a designated fund is $10,000.

Scholarship

This endowed fund generates scholarship awards to students in the name of the founding donor(s). The fund may be as specific (i.e. designated school, career, grade point, financial need, etc.) or general as the donor wishes. Incourage staff members work with donors to establish criteria and a selection process specific to their fund. The minimum required to establish an endowed scholarship fund is $10,000.

Donor Advised

This is the most flexible type of fund available to a donor through Incourage Community Foundation. It may be endowed (grants generated by the interest and earnings made on the principal gift) or pass-through (grants generated by the principal itself and spent down to zero). Donors that prefer to be involved in their giving and support changing charitable organizations and areas of interest choose advised funds. Up to 50% of the grants from this type of fund can support charities outside of south Wood County, if the donor desires.

The donors are advisors to Incourage and make recommendations regarding the recipients of the grants generated by their fund. Grant distributions are then forwarded to the organizations of choice in the name of the donor(s). The advisory role can be passed on to second generation or designees of the founding donor. The minimum for establishing an endowed donor advised fund is $10,000. There is no minimum for a pass-through donor advised fund.

All of the fund types listed above, unrestricted and restricted, may be built over time through the foundation’s “Build-A-Fund” program. This program allows donors to build a fund over time through contributions and investment earnings. The minimum to establish a “Build-A-Fund” of any type is $1,000, which can be satisfied over a period of up to five years.

Fiscal Sponsorship/Pass-Through

This non-endowed fund is for a particular short-term project to which all gifts will be expended in support of a charitable purpose. Pass-Through Funds are for a limited time period and require Incourage Board approval.


To view a list of all named funds at Incourage, click here: Family of Funds.


For additional information, contact:
Mary Wirtz | mlwirtz@incouragecf.org | 715.423.3863