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OUR FAMILY OF FUNDS
The Foundation
is a collection of over 200 funds
established by caring donors with a
common concern for the well-being of
Licking
County
citizens.
Year
after year, these funds generate
income to award grants and
scholarships to many worthy
nonprofit organizations and students
in our community.
Donors may
choose one or a combination of funds
to meet their charitable interests.
Under most circumstances,
contributions that are made to
create a fund or add to an existing
fund are never spent.
Only the
growth or income a fund generates is
available for making grants.
All
funds may be added to by anyone, at
any time, in any amount.
If you
wish to learn more about
establishing a fund or making a
gift, please contact Connie Hawk at
740.349.3863.
The following
describes each type of fund
available to donors.
Unrestricted Funds
have been
established within the Foundation by
many visionary donors. Grants
generated by Unrestricted Funds
allow the Foundation's Governing
Committee to respond to the
ever-changing needs of the
communities in our service area.
Unrestricted Funds provide the most
broad-based support to our community
over the years. Unrestricted
Funds also provide the Foundation's
Governing Committee the most
flexibility in grant-making.
Tomorrow will present our community
with new opportunities and
challenges. Unrestricted Funds
position the Foundation to meet
those new challenges and capitalize
on those new opportunities.
Field of
Interest Funds provide
for a broad purpose, geographic area
or charitable goal. Donors may set
up a Field of Interest Fund to
support a comprehensive area such as
the arts, education, the
environment, health care, or
services to a specific town or
region.
Designated
Charitable Agency Funds
provide financial support to a
specific qualifying organization.
Donors establish this type of fund
when they want to provide a
permanent income stream to a church,
school, or other favorite charity.
Sometimes, Designated Agency Funds
are called Agency Endowment Funds.
Such a Fund may be established by
either an individual donor or a
qualifying charitable organization.
The Licking County Foundation has
the unique ability to hold assets
for a charitable organization in a
named endowment fund, and annually
distribute a set percentage back to
the not-for-profit organization to
meet their needs as their board
determines.
Scholarship
Funds provide financial
support for the continuing education
of students. Organizations or
individual donors specify the
restrictions for eligibility such as
course of study, school the student
will attend, or high school from
which the student graduates within
Foundation guidelines.
Donor Advised
Funds provide flexibility
and convenience for a donor’s
charitable giving within their
community. Donors of this type of
fund may suggest grants to different
charitable organizations for many
years to come. The recommendations
follow certain guidelines and are
approved by the Foundation’s
Governing Committee.
Supporting
Organizations are
separate entities that affiliate
with the Licking County Foundation
to achieve public charity status and
avoid the reporting requirements and
payout provisions associated with
private foundation status. A
Supporting Organization has its own
board of directors and makes its own
decisions about grant awards.
Other Special
Funds may be established
with the approval of the Licking
County Foundation. The
Foundation offers nonprofit
organizations the ability to set up
a Project
Fund for
receiving contributions restricted
to support a specific project being
done by the establishing
organization. The
Foundation also offers a Community
Charitable Fund
for donors in certain circumstances.
Planned Gifts are
created by donors who want to ensure
a positive future for our community
by making a planned or deferred
gift. This includes establishing
gifts through a bequest, trust, life
insurance policy, retirement plan,
or charitable gift annuity. If
you have made plans to leave a gift
to Licking County Foundation through
your estate, please let us know
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