Unrestricted Fund

In this case, the donor makes a gift for the broad charitable purposes of the Foundation. Whether named as a separate fund or donated to the general Main Street Community Foundation Fund, these gifts can be used for any purpose the governing board deems appropriate and in line with the current funding priorities it has established.

Designated Fund

This describes a permanently endowed fund from which payments are made for a charitable organization specified by the donor at the time the fund is created. Designated funds assure effective and efficient endowment management. They also assure donors that their purpose for giving the gift will be honored in perpetuity.

Field- of- Interest Fund

This type of fund is established to support a class of charitable beneficiaries or institutions. A donor who established a field- of- interest fund may stipulate that a gift be directed to a particular field, such as assistance to children, support for the arts, or energy conservation. In addition to limiting distribution to a particular area of interest, donors may limit distribution of funds to a specific neighborhood, county or other locale within the Foundation's service area. The community foundation decides which organizations or programs in the field specified by the donor will receive funds.

Advised Fund

These are component funds established with a formal provision or an informal arrangement that permits the donor or the donor's appointees to suggest specific grants to be made from the fund. The distinguishing feature is that the donor expresses the desire to make specific recommendations to the Foundation regarding how the money will be used. These recommendations are not legally binding, but are taken into consideration when grants are made.

Scholarship Fund

Grants from this type of fund are given either to qualified educational institutions who then select scholarship recipients, or to individuals who apply to the Foundation and meet published selection criteria.

Supporting Organization

A supporting organization is a separate corporation or trust that has a relationship to the community foundation. The supporting organization may be particularly appropriate for the donor who wishes a distinct public profile for his or her philanthropy, is attracted to the "separateness" of the supporting organization, and for one reason or another does not want to create a private foundation. The community foundation acts in an advisory capacity, assisting with grantmaking and administrative duties.

Administrative Fund

A fund set up by a donor specifically to support the ongoing operation of the Main Street Community Foundation.