Types of funds – subtab
Component funds are the basic building blocks of the Foundation. All named
funds are created through a legal document called the “Declaration of Gift”. The
“Declaration of Gift”:
Is a two-party agreement between the Foundation and the donor or
Details donor intent
Directs the Foundation’s stewardship, now and in the future
Field of interest Funds provide grant dollars in certain areas such as health,
education, economic development or the arts. This option offers the donor the
advantage of choosing a field of charitable work that he/she cares about, without
determining a specific nonprofit to support. For instance, the field of interest fund
may be to support literacy in the county.
Designated Funds benefit one or more organizations. Designated Funds offer the
donor the simplicity of choosing specific nonprofit organizations that the fund will
support. If the donor has defined giving goals, this option helps achieve them by
permanently supporting the nonprofits the donor determines when the fund is
Organizational endowments created by nonprofits for their own use and
scholarship funds are also forms of designated funds.
Unrestricted Funds provide monies for grants and new programs. Unrestricted
funds are those given to a community foundation by a donor with broad
philanthropic interests but no specific recipient in mind. The donor gives the
foundation the flexibility to invest in the community’s most pressing needs.
Unrestricted funds allow community foundations to ensure that the organizations
and projects that could really benefit from funding are given support.
Donor Advised Funds are designed for donors that have differing interests. With a
donor-advised fund, donors and their heirs can recommend grant recipients each
year, allowing donor’s flexibility in supporting the causes they care about without
the demands and costs of establishing a private foundation. Grants can be made
at the suggestion of the donor. This option offers the most flexibility in the
direction of each grant from your fund. You may decide to give to causes related
to health and education today, but decide to support efforts for disaster recovery
and social welfare in the community tomorrow. No matter what causes ignite
your passion, you can support them all from your donor advised fund.
There are several requirements and stipulations for Donor Advised Funds that will
be reviewed with the donor at the time the fund agreement is signed and
Scholarship Funds are awards of financial aid for students to further their
If a donor restriction has become unnecessary, incapable of fulfillment or no
longer is in the best interest of the Foundation, the Foundation may modify it
through the variance power. Some examples include:
A charity designated by the donor no longer exists
A fund’s purpose no longer make sense
A charity designated by the donor has become seriously dysfunctional
In every case the Foundation’s obligation is to distribute grants as closely as
possible to the donor’s original intent.
Variance power is a win-win all around. It allows the Board to continue to honor
donor wishes even as nonprofit organizations come and go, and to respond to
changing community needs and priorities for future generations.
To establish a fund please call the Foundation at 937-544-8659.
Fund Fees and Payouts– subtab
The Adams County Community Foundation in conjunction with the Scioto
Foundation charges fees on accounts to maintain its day-to-day operations. Fees
vary according to fund type. Those that require greater administrative needs are
charged a higher rate.
The Basic Fee for unrestricted Funds, Designated Funds Field of Interest Funds
and Donor Advised Funds:
The basic fee is assessed monthly at a rate of one-tenth of one percent (.001) of
the month-end asset value (or 1.2% per year) with a minimum fee of $10.00 per
A start-up fee is applied to all new accounts to be managed by the Foundation. It
is one tenth of one percent of the asset value, with a minimum fee of $200.
Scholarship funds require more extensive administrative duties than other
endowed funds, the Foundation assesses a rate of (.00165) per month-end asset
value (or 1.99% per year) with a minimum fee of $10.00 per month.
What is the annual grant or scholarship payout? The grant or scholarship payout
is the rate or percentage of distribution from a fund for the year. At the beginning
of each year, the Board determines the grant distribution payout for that year.
The payout is derived from the following” Rate of distribution X Market Value as
of December 31. For a number of years the payout has been 4%. For example, a
fund with a market value of $12,500 on 12/31 would have a payout of $500.00.
Note: Grants must always be made for charitable purposes. Recipients may
include nonprofit organizations, schools, accredited universities, and government
programs. All grants must be made to nonprofit organizations in the United
States designated as 501(c)(3) charities by the Internal Revenue Service.
Starting a New Fund – subtab
We can help you start an endowment (long-term) fund with the Adams County
Community Foundation in four easy steps:
- GIVE US A CALL – Start by contacting us to discuss your charitable or estate-
planning goals. We will work directly with you and your financial advisor to
customize a charitable plan that will help you enhance the quality of life in
your community and offer you significant tax advantages.
- DECIDE THE TYPE AND PUPOSE OF YOUR FUND — We offer a wide variety of
fund types to satisfy your charitable giving needs now and in the future. As
a donor, you may designate specific charitable distributions to any qualified
not-for-profit organization, including churches and schools. You may
establish broad areas of charitable interest, or you may ask the Foundation
to make grants on your behalf, where community need is greatest.
- DETERMINE WHEN AND HOW MUCH TO GIVE –You can establish a fund
either with a direct contribution during your lifetime or through a legacy
gift, or both.
- NAME YOUR FUND – Many donors choose to name their fund with their or
their family’s name or as a memorial to a loved one. If you wish to remain
anonymous, we suggest you select a name that reflects your fund’s
charitable interest. We will protect your identity, if you so choose.
It is that simple. Once you complete and sign your fund agreement, we will begin
to serve your charitable objectives, assuring that your wishes will be met in
Donating to an Existing Fund – subtab
Coming soon – a list of available funds
Give Today – subtab
(This will take the donor to the giving tab as noted at the top of page)
Legacy Society – subtab
The Legacy Society recognizes individuals who have made a gift in their will or a
planned gift to the Foundation. When you choose to remember the Adams
County Community Foundation through a planned gift, you become a part of our
Legacy giving offers a way to make a difference, far beyond the measure of one
lifetime. Benefits of joining the Legacy Society include:
A relationship with the Foundation and other donors during your lifetime
A role in determining how your legacy gift will be used
Satisfaction in knowing your legacy will make a difference for your
community and will encourage others to do the same
Special recognition if so desired
Invitation to special donor events
Gifts made through a bequest in a will or trust are not the only means of
becoming a member of The Legacy Society. Gifts of life insurance and beneficiary
designation of Individual Retirement Accounts (IRA, 401K, 403B) also qualify.
Only a statement of intent to leave a gift to the Adams County Community
Foundation is required. No documentation of gift amount or type is necessary.
Legacy Society members may designate the use of the distributions from their
future gifts, or may leave the distributions to the discretion of our Board of
Directors. A Legacy Society gift may be used to establish a new fund or may be
added to any of the Foundation’s existing funds.
Current Legacy Society Members
Kent and JoAnn Gulley
GRANTS (TAB 5)