Types of Funds
There are a number of funds that are specifically designed to help donors fulfill their goals. You can create your own fund or you can give to one of our existing funds, such as the Environmental or the Scholarship Funds. Here is a complete list. If you want to create your own fund, the minimum gift to begin is $5,000. The Community Foundation manages over 200 funds which fall into one of the following categories.
· Unrestricted funds – allows donors to give during their lives or create bequests to existing unrestricted funds, such as the Fund for Chattanooga. This fund addresses the most pressing needs in the community Income from the fund is distributed by the board of directors.
· Scholarship funds – provide education advantages and assistance for Chattanooga students who don’t have the opportunities or advantages of others.
· Project funds – assist an organization with a specific project or community goal like the Warner Park Kidz Place playground.
· Agency funds – help nonprofit organizations protect and preserve their endowments for future generations. The organizations are also given valuable recognition through inclusion in the Foundation’s investment portfolio.
· Field-Of-Interest funds – provide readily-available resources for causes that are of greatest priority to you.
· Designated funds – give your preferred charity or agency an annual grant for specified needs or assistance.
· Donor-Advised funds – make charitable contributions at your suggestion, giving you the flexibility to address various needs in the community. Donor-advised funds are ideal if you’d like to take a charitable deduction for one year and spread the contributions out over the following years.
· Memorial fund – ensures that a special person is always remembered through a fund that reflects his or hers charitable priorities.