Designated Funds Make Significant Grants
More than $100,000 has been distributed this week 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 Andrew Lonyo Fund provides an annual grant check to the Charlevoix Historical Society. The grant can be used for “general operations” – however the Society’s staff and board decide it can best meet the mission of the organization. “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.
Learn more about estate gifts to the Community Foundation and types of funds that can help you give back to the place you love.