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Establish a Fund

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With over $50 million in assets, Licking County Foundation is comprised of more than 200 individual charitable funds—each with a purpose that matches the donor’s particular philanthropic passions. Funds may be established by individuals, families, businesses, nonprofits organizations, and others.

CHARITABLE FUND OPTIONS
Donors may choose to establish a variety of named funds that will serve their charitable intentions in perpetuity or temporarily—endowed or non-endowed*. Any of these funds can be established in your name, or in the name of your family, business or organization—or anyone you wish to honor. The minimum gifts required to establish named funds and the time period in which the minimum can be reached are indicated below. New gifts may be added to funds at any time and in any amount. The Foundation offers the following eight fund types to match donor interests:

Unrestricted Funds—Created by donors to allow the Foundation flexibility in responding to the community’s most urgent needs and emerging opportunities. A total contribution of at least $5,000 is required to establish this type of fund. The minimum amount can be reached over a two-year period.

Field of Interest Funds—Created by donors who want to provide ongoing support to a particular field, broad purpose, geographic area, and specific cause or issue. A total contribution of at least $10,000 is required to establish this type of fund. The minimum amount can be reached over a four-year period.

Designated Agency Funds—Created by donors to provide permanent, continuous support to particular nonprofit organizations or programs. A total contribution of at least $10,000 is required to establish this type of fund. The minimum amount can be reached over a four-year period.

Agency Funds—Created by local charitable organizations to provide ongoing support for operations and programs. A total contribution of at least $10,000 is required to establish this type of fund. The minimum amount can be reached over a four-year period.

Scholarship Funds—Created by donors to benefit individual students with financial support to continue their education. A total contribution of at least $25,000 is required to establish this type of fund. The minimum amount can be reached over a ten-year period.

Donor Advised Funds—Created by donors to benefit the charitable organizations they care about most in a flexible and convenient way. A total contribution of at least $25,000 is required to establish this type of fund. The minimum amount can be reached over a five-year period. We have provided answers to the most commonly asked questions about Donor Advised Funds in the document below.

Community Charitable Funds—Created by donors to simplify their annual giving and support their favorite nonprofits throughout the year. An initial contribution of at least $1,000 is required to establish this type of non-endowed donor advised fund. Donors can then suggest charitable distributions (of no less than $250) to qualified recipient organizations at various times throughout the year. We have provided answers to the most commonly asked questions about Community Charitable Funds in the document below.

Project Funds—Created by donors to hold contributions raised for a specific purpose until disbursements are made to cover the costs of the project. These are non-endowed funds of which it is expected that the entire income and principal—all of the assets of the fund—will be used up over the course of two to five years. This time period is very flexible, depending on the needs of the donor and the purposes of the fund.

If you have any questions or need assistance, please contact Connie Hawk at 740-349-3863.

*An endowed fund is a fund where the initial gift and subsequent gifts are never spent and the income and earnings of the fund support a charitable purpose as defined by the fund’s donor. A non-endowed fund is a fund where all contributions as well as income and earnings may be used for a charitable purpose as defined by the fund’s donor.

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