Unrestricted funds are the most flexible and used to meet immediate and changing needs of our community. The minimum required to establish a named, endowed unrestricted fund is $5,000. General unrestricted funds accept contributions of any size.
Community Grant Funds
These are endowed funds that generate interest and earnings in the name of the donor. Grant recipients are determined through an application process. These grants benefit south Wood County and support our vision of a community that works well for all people.
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. Grants must be awarded in the area of interest specified by the founding donor. The minimum required to establish an endowed field of interest fund is $10,000.
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.
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.
This is the most flexible type of fund available to a donor through Incourage. 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.
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.
For additional information, contact:
Dawn Vruwink | [email protected] | 715.818.6176