Establishing Your Own Fund

A variety of options exist for creating a fund that meets your particular charitable goals. All funds are designed to specifically incorporate donor wishes, and are documented with easy to understand fund agreements. The Community Foundation of Mount Vernon & Knox County currently offers donors the opportunity to create the following types of funds:

Donor Advised Funds
A personal approach to giving.
Establishing a donor advised Fund allows you to make a gift to the community foundation, then remain actively involved in suggesting uses for your gift. You can work with the community foundation’s professional staff to suggest ongoing uses for the fund — targeting the issues you care about most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It’s a simple, powerful, and highly personal approach to giving.

Unrestricted Funds
Meeting ever-changing community needs.
When you establish an unrestricted fund, your gift can address a broad range of local needs — including future needs that often cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being: arts and culture, economic development, education, environment, health and human services, neighborhood revitalization, and more. The flexibility of your unrestricted gift enables your community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow.

Scholarships
Investing in deserving students.
In creating a scholarship fund, you invest in your community’s future and show students you care. Your community foundation provides the expertise to help you meet your personal goals and awards Scholarships to deserving students. Your gift can help students — from preschool to postgraduate — achieve their lifetime dreams. There are unlimited opportunities to design a scholarship program that reflects your particular educational interests, and that can be targeted to a specific student population. The Community Foundation is also experienced in designing and administering company-based scholarship programs.

Designated Funds
Helping local organizations sustain and grow.
Establishing a designated fund allows you to support the good work of a specific non-profit organization — a senior center, museum, church or virtually any nonprofit charitable organization. Because it’s given through your community foundation, your gift provides the organization you select not only funding, but planned giving and investment management services and the power of endowment.

Organization Funds
Endowing your nonprofit organization.

Non-profit organizations can also establish a designated fund or agency endowment at the community foundation. It’s a simple and efficient way to build an endowment — and help create sustainability — for your non-profit organization. By investing your long-term funds in one of our professionally managed pools, your organization reaps the advantages of great diversification, low fees and a extremely competitive market return.

Prospective Funds
Designing a program for later funding.

The Community Foundation staff is pleased to work with clients who would like to design a charitable program that will be funded with future proceeds from an insurance policy, an IRA distribution, or your estate. Spending a little time today with Foundation staff will assure the creation of a charitable fund at a later date that fulfills your wishes. Of course, there are no fees, and no obligation, associated with creating a prospective fund agreement; and you may revise your prospective fund document as often as you like in the coming years.