Types of Funds

Michael Arnolt recommends grants from an advised fund established by his mother, Ghean Arnolt. Each time a grant is made from the fund, Ghean’s legacy lives on.

Michael Arnolt recommends grants from an advised fund established by his mother, Ghean Arnolt. Each time a grant is made from the fund, Ghean’s legacy lives on.

Community Fund

A Community Fund provides the Foundation with the flexibility to decide where the earnings can be used most effectively each year to meet the community’s needs as they change from generation to generation.

Advised Fund

The fund advisor (one or more persons) recommends grants to charitable organizations or projects. Individuals, families and businesses may be especially interested in an Advised Fund if:

  • You have considered establishing a private foundation but want to avoid the costs, regulations, minimum distribution rules, excise taxes and administrative costs associated with a private foundation;
  • You wish to be able to vary the charities you support annually;
  • You wish to involve the next generation in your charitable giving; or
  • You wish to benefit from the counsel of the Community Foundation regarding the changing needs of the community.

Designated Fund

A Designated Fund may be established by a donor or an organization to benefit one or more specific charities.

Agency Fund

An Agency Fund may be established by a charitable organization to provide a stream of revenue to fulfill its mission well into the future.

Scholarship Fund

A Scholarship Fund may be established using eligibility requirements important to the donor to help students achieve their educational dreams.

Field of Interest Fund

You select an area of special concern or geographic area, which may be defined broadly (“environment”) or more narrowly (“nurturing parks and recreation in the southeastern portion of Kosciusko County”) and the Community Foundation will use your gift to make grants in that area.

Foundation Operating Fund

The Kosciusko County Community Foundation Operating Fund enables the Foundation to meet the needs of donors and the community by enlisting staff, supporting the facility, and providing resources to help meet the needs of the residents of Kosciusko County.

Learn more at our Donor Learning Portal.

The Community Foundation accepts both permanent and non-permanent funds. Permanent Funds are invested, and only income is made available for grantmaking. The principal is not spent, but retained for growth of the fund. Non-permanent Funds generally provide grant support from fund assets as well as income.

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