Types of Funds

Types Of Funds

Listed below are the types of charitable funds that can be established by a donor(s).

Unrestricted Funds

Funds that are not specifically designated to a particular use by the donor.  This type of fund gives the Ohio County Community Foundation Board of Directors maximum flexibility to address the constantly changing needs of a vital community,

Agency Funds

A fund established by a non-profit organization to provide support for the organization.

Designated Funds

A type of restricted fund in which the charitable beneficiaries are specified by the donor.

Donor Advised Funds

A fund held by a community foundation where the donor has specified that the fund’s income or assets be used for the benefit of one or more specific public charities. The community foundation’s governing body has the power to redirect resources in the fund if it determines that the donor’s restriction is unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or area served.

Scholarship Funds

Scholarship funds assist students with paying for necessary educational expenses, such as tuition, fees, and textbooks.  Criteria for the scholarship is specified by the donor.

Field of Interest

A fund established by the donor for specific charitable purposes, such as education, arts, youth, seniors or other interests in particular.

Acorn Society

The ACORN Society is best explained using the analogy of growing a tree. An acorn seed has within it everything necessary to grow into a strong oak tree. But it is not a tree. It is only an acorn that must be planted in order to reap a tree later on.

ACORN SOCIETY members plant “charitable seeds” with the intent of growing them into a permanently endowed fund that will one day bear charitable fruit in their name(s).

Just as the acorn must be fertilized, watered, and nurtured, so ACORN SOCIETY members nurture the growth of their charitable seeds with small, but steady contributions.

With ongoing care, an acorn becomes a sturdy oak, providing shade, protection, and resources. Likewise, the “charitable acorn” will grow into a fund that will support the causes the ACORN SOCIETY member cares about.

For information about existing OCCF funds or to establish an endowment fund within the Ohio County Community Foundation, please contact Jane Angst, Executive Director,  at 812-438-9401 or jangst@occfrisingsun.com.