Endowment Funds
Endowment funds exemplify the donor’s giving spirit and commitment to the Wabash Valley community. An endowed fund continues to carry out its specified purpose even after the donor’s death through grants from a portion of the earnings that benefit the community. By creating or investing in an endowment fund, the donor’s giving spirit lives on as a legacy that future generations will remember and from which they will continue to benefit.
The Community Foundation allows people within and with ties to the Wabash Valley area to reinvest in their communities through the creation of, or contribution to, an endowment fund. Our donors are harnessing community capital to provide permanent and perpetual support for our communities. Regardless of the type or size of gift, all administrative details will be expertly handled, customized specifically to the donor’s interests. For more information, contact 812-232-2234 or visit www.wvcf.org.
The Community Foundation offers seven types of endowment funds
If you wish to provide resources for your community to meet future needs, assist an existing program, or even start a new program, the unrestricted fund will be your choice. Your resources will be granted by the local board for purposes which are meaningful and timely.
Perhaps you have a particular interest in a specific area or need. It might be the arts, education, or improved services such as health, police, or fire programs. The Community Foundation board will award grants from your fund within the area you have set forth in your particular fund agreement.
You may wish to have more “say” in the annual distributions from your fund. By choosing an advised fund, you may serve on or specify who will serve on the grant selection committee. Each year your committee can recommend a different grantee.
If you are passionate about and devoted to one or more charitable organizations, you may wish to establish a designated fund, thereby assuring that a favorite charity or charities will receive annually from your endowed resources.
If you have been a long-time supporter of a particular agency within your community or even nationally, you may want to establish an agency endowment fund. The agency itself may establish the fund so that you and other contributors may contribute funds to ensure an uninterrupted and dependable source of funding to carry out its work on a perpetual basis.
A customized scholarship fund can assist students with post secondary tuition and fees. Unlike generic scholarship funds, the Community Foundation’s scholarship is customized to the donor’s preference as to field of study or institution of higher learning. Eligibility of applicants, selection procedures, and the amount of scholarship support are all designed to reflect the wishes of the donor.
Immediacy is an element in the Special Projects Funds. Perhaps a new project emerges, a need arises or a nonprofit group requests fundraising assistance from the Community Foundation. Rather than establish a permanent endowment, resources are given to support these “special” short-term goals and projects.
Should you wish to make a gift in the future, the fund can be created now, but your gift is deferred until the future. Perhaps the gift will be part of your estate. The Community Foundation will work cooperatively with you and your financial planner, attorney or accountant to ensure that your wishes are properly followed when the deferred gift is received.
