Plant seeds of compassion … establish a fund.
With nearly $130 million in assets, Licking County Foundation is comprised of over 280 individual charitable funds—each with a purpose that matches the donor’s particular philanthropic passion. Funds may be established by individuals, families, businesses, nonprofit organizations and other entities.
Donors may choose from among eight different fund types that can serve their charitable intentions in perpetuity (endowed) or temporarily (non-endowed). An endowed fund makes grants using only the income and earnings of the fund; the initial gift and subsequent gifts are never spent. 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 donor establishing the fund.
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. Some funds require a minimum gift to start and others require only that the minimum be reached within a certain period. New donations may be added to funds at any time and in any amount. As they continue to grow, so will their impact.
The Licking County Foundation is bound by IRS law in establishing and managing our donors’ funds. Be sure to speak with your estate and tax professionals before setting up a fund. We’re happy to help provide information to your professional advisors at any time. Professional advisors can also find out more here.
Types of Funds
Unrestricted Funds (Endowed) — Offer the broadest giving option to address the current and future needs of our community now and forever. 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 — Support charitable organizations that address the issues you care about most—like the arts, education, health care, human services or other interest areas. 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 (Endowed) — Support one or more specific charitable agencies, organizations or programs in our community, forever. A total minimum contribution of at least $10,000 is required but can be reached over a four-year period.
Agency Funds — Local nonprofit organizations can establish agency funds to provide an ongoing source of income for operations and programs. A total minimum contribution of at least $10,000 is required and can be reached over a four-year period.
Scholarship Funds — Benefit students of any age or education level with many options in determining the selection criteria for your fund—from areas of study or career and extra-curricular activities to students’ level of financial need. While a total minimum contribution of at least $25,000 is required to establish a scholarship fund, the minimum can be reached over a ten-year period – and scholarships can be made during that time to have an immediate impact.
Donor Advised Funds — Benefit the charitable organizations you care about most in a flexible and convenient way. A total minimum contribution of at least $25,000 reached over a five-year period is required, but grants can be made almost immediately. Check out our Donor Advised Funds FAQ here.
Community Charitable Funds (Nonendowed) — 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. Check out our Community Charitable Funds FAQ here.
Project Funds (Nonendowed) — Project Funds are temporary, non-endowed funds created by donors to hold contributions raised for a specific purpose or project. Most project funds are expended over two to five years. All assets for the fund must be used for the project. This time period is very flexible, depending on the needs of the donor and the purposes of the fund.
Learn more about how we protect your investment through our administrative services and investment program here.