Endowment funds exemplify the donor's giving spirit and commitment to the communities of Owen County. An endowed fund continues to carry out its specified purpose after the donor's death, through grants from a portion of the earnings that benefit the community. By creating or investing in an endowment fund, the donor's giving spirit lives on as a legacy that future generations will remember and from which they will continue to benefit.
The Community Foundation allows people within and with ties to Owen County to reinvest in their communities through the creation of or contribution to an endowment fund. Our donors are harnessing community capital to provide permanent and perpetual support for our communities.
Regardless of the type or size of gift, all administrative details will be expertly handled and customized specifically to the donor's interests.
Donors place no restrictions on how these funds are to be used, giving the Foundation the greatest flexibility in making grants to address the most pressing needs of our community.
Donors may designate a particular field of study and may select eligibility requirements. Scholarship funds are often established as a permanent legacy in memory of a loved one, to honor family or friends, or to serve a specific purpose.
Field of Interest Funds
Donors may support a broad area of interest such as the arts, education or human services. This type of fund is ideal for donors wishing to contribute to an area of concern, but not necessarily a specific organization.
Donor Designated Funds
Donor designated funds support specific charitable organizations identified by the donor.
Agency Endowment Funds
Agency endowment funds are created by nonprofit organizations to provide an ongoing source of income for the organization.
Donor Advised Funds
Donor advised funds enable donors to participate actively in the giving process by suggesting charitable organizations to receive gifts.While the ultimate decision remains with the board, the Foundation listens closely to donor advisors and does its best to honor recommendations.
Deferred Funds: Donors can express their giving spirit through a deferred fund, which is created in the present with the gift to be made sometime in the future. Often deferred funds are established as a part of an individual's estate plan and include a will, trust, annuity, life insurance policy or other deferred gift arrangement. The Community Foundation can work with the donor's attorney, accountant or other professional adviser to assure the donor's charitable intentions are achieved. The Community Foundation encourages individuals to advise us if they have established a planned gift, so we can show our appreciation and recognize their generosity to the community.
Non-permanent Funds: There are times when a donor chooses to give to a non-permanent fund rather than to an endowed fund. For example, when a new project is being started or when a non-profit agency utilizes the Community Foundation's expertise to assist with a special fund drive, donors give specifically to support these efforts. Sometimes, for anonymity, donors prefer to make a gift through the Community Foundation rather than giving directly to another organization.