Permanent Endowments
Permanent Endowments build resources to meet current and future needs within the community. The Greene County Foundation administers a variety of Permanent Endowments that have been established by a number of donors.
Agency Endowment Funds – Agency Endowment Funds are created for the benefit of charitable organizations or agencies that prefer to establish funds within the Foundation rather than create and manage their own funds. They are a practical and efficient way for nonprofit groups to ensure sustained, future funding. By placing its endowment within the community foundation, a charitable organization can expect yearly income from the fund and reduced administrative costs.
Donor Advised Funds – Donor advised funds are similar to unrestricted funds, however, donors have the privilege of suggesting which organizations they believe should receive grants. While the ultimate decision must remain with the foundation’s board, the foundation listens closely to its donors and does its best to honor their recommendations, provided they are consistent with the foundation’s charitable objectives.
Donor Designated Funds – Donors can tailor designated funds to support one or more specific organizations. However, if in the future, an organization ceases to function or exist, the foundation can then redirect income from the fund to organizations with a similar mission.
Field of Interest Funds
These types of funds are established by donors who wish to contribute to an area of concern (e.g., youth, family welfare, etc.) but do not want to designate a particular organization. The foundation makes grants that meet current needs in the chosen fields.
Non-permanent Funds – Non-permanent funds are given to the foundation but will be totally distributed to organizations over several periods of time. Donors may restrict these funds to specific organizations or they may be given for more general purposes.
Operating Endowment – Funds from this type of endowment benefit the community foundation by supporting its operations. A gift to the foundation’s operating endowment provides the foundation with annual operating funds.
Scholarship Funds – Many contributors create endowed Scholarship Funds to honor or memorialize an individual or serve a specific purpose that is important to the donor. Scholarships can enable students to pursue traditional higher education or vocational training. Income from the endowment provides the scholarships each year.
Unrestricted Funds – Donors with varied interests find that a fund in the community foundation is a simple and flexible way to accomplish their charitable objectives. An unrestricted gift to the foundation allows the board to make grants at their discretion, ensuring that they are distributed where they are needed most.
Non-permanent Funds
The Greene County Foundation also serves donors who wish to help fund a special project or immediate need within the community. These funds are called “Pass-Through” Funds. Unlike permanent endowments, these funds are intended to be fully disbursed.