Types of Funds
The Community Foundation of Southern Indiana offers a range of charitable funds that allow individuals, families, and businesses to choose the best vehicle to accomplish their philanthropic goals. Our funds are easy to establish and our expert staff will work with you to ensure that your fund is designed to creatively and effectively match your charitable intent.
Community Impact Fund
If you’re interested in giving back to the community you call home, but don’t have a specific cause in mind or want to provide flexibility to address future needs, your contribution to the Community Foundation’s unrestricted Community Impact Fund will support the greatest needs of our community, now and forever. As our region’s future needs and objectives may differ greatly from those in place today, establishing a fund within the unrestricted Community Endowment Fund will provide important flexibility to future Foundation leaders, helping them address the evolving needs of our community. This is the easiest and most flexible type of fund for anyone who wants to give back to the community and your named fund can be established for as little as $1,000.
Donor Advised Fund
Donor advised funds are extremely popular because of the flexibility they allow you and the ease of their use. A donor advised fund is like a charitable checking account that allows you to stay involved in the giving process by requesting grants to your favorite organizations and causes, and involve your family in grantmaking. With a donor advised fund you can constantly add to your fund while supporting all of the nonprofits you’re interested in. You can establish a permanent endowment fund that will continue in perpetuity for $15,000. Or, set up a non-permanent passthrough fund for just $1,000.
Your designated fund is the simplest way to support all of your favorite charitable causes and ensure your generosity will continue after your lifetime. You tell us when you create the fund the specific charity or charities you want to support. We’ll include that information in your fund agreement and will automatically make an annual grant from your fund to support those organizations, forever. Your permanently endowed designated fund can be established for $15,000.
Scholarship funds give you an opportunity to support the education of students at all levels. You can designate the scholarship for specific institutions or create your own criteria and eligibility requirements. When considering a scholarship fund it is always a good idea to think about the total financial impact your gift will have on the student and the rising cost of tuition. You can establish a scholarship fund with a minimum gift of $25,000.
Field of Interest Fund
Field of Interest Funds allow you to support your favorite causes or issues while relying on the Community Foundation’s experienced staff to identify nonprofits that make the greatest impact on that issue. Whether your area of interest is the environment, education, health and human services, or any other issue you choose, we will identify area nonprofits doing the best work to address those issues and support them in your name. A Field of Interest Fund can be established for $15,000.
A non-profit organization may want the Community Foundation of Southern Indiana to hold its endowment or be its “foundation.” An agency fund at the Community Foundation is a simple way to accomplish these goals and is easy to establish. The existing non-profit organization creates an endowment fund in its name at the Community Foundation to which individuals, corporations and foundations can contribute. Taxpayers are eligible for an income tax charitable deduction for these gifts. In the fund agreement, the agency can set parameters for the administration and operation of the Fund, and can even name a successor organization to benefit from the fund if agency ceases operations. The Foundation can also provide gift planning guidance to nonprofits that have an established fund at the Foundation. The minimum to establish an agency fund is $15,000.
The Community Foundation of Southern Indiana is here to support you as you support our community. One we way do that is by preserving you or your loved one’s passions and values for future generations by establishing memorial funds. Establishing a memorial fund is an easy and flexible way to support the causes your loved one cared most about. Working with the Foundation to establish your fund makes it simple, and provides anyone who contributes to the fund a tax deduction.
If you’re interested in establishing a memorial fund, or any other fund at the Community Foundation, please contact Kenton Wooden at (812) 948-4662 to find out more about we can help you establish a fund that will carry out your charitable intent, forever.