Designated Funds Make a Difference
Close to $100,000 has been distributed this month from the Community Foundation’s designated funds. This type of fund allows donors to name the fund and ‘designate’ the organization that will receive grant support annually, forever. For example, the Helen Hoffman Collar Memorial Fund supports programs, projects, and operations of the Beaver Island Historical Society. The Kenneth & Ina Slough Memorial Fund supports the operations of the East Jordan EMS and Ambulance Association. “Different types of funds accomplish different kinds of charitable work,” explains Sara Ward, Development Director at the Community Foundation. “Designated funds can provide necessary and important general support for our area’s hardworking nonprofit organizations in the name of the individual, couple, family, or business who established and support the fund – they can be a terrific tool for estate gifts, too,” she adds. Because these gifts are made to permanently endowed funds, they will benefit our area now and for many years to come.
Learn more about estate gifts to the Community Foundation and types of funds that can help you give back to the place you love.