FOR IMMEDIATE RELEASE
CONTACT: Mary Gibble, President/CEO
The Community Foundation makes grants from designated funds
GREENFIELD, Ind. (March 1, 2023) – The Community Foundation of Hancock County recently issued grants to several organizations near and far from designated funds of the Community Foundation totaling more than $650,000. The Community Foundation stewards 98 designated funds on behalf of generous donors.
A designated fund names a charity or charities to benefit from the fund each year. The donor has the assurance that the charity they choose will forever benefit from their support. However, if the organization ceases to exist, the Community Foundation’s board of directors will preserve the donor’s intent by redirecting the fund toward an agency with a similar mission.
A designated fund is not limited to supporting charities located in Hancock County. The Community Foundation can send designated grants to charities across the U.S. as long as the organization is recognized by the Internal Revenue Service (IRS) as a 501(c)3 nonprofit. The Community Foundation conducts due diligence to ensure all grantee organizations are in good standing.
A designated fund is ideal for the donor who:
- wishes to support a particular charity but wants third-party oversight to ensure that principal is not invaded or that the gift is used as he or she specified.
- wants to support several named charities through one substantial gift.
- desires to make an endowed gift to a new, small, or struggling organization or a charity that does not have extensive investment management capability.
If you are interested in establishing a designated fund with the Community Foundation of Hancock County, or if you would like to learn about other ways you can make a permanent charitable impact for causes you care about, contact Emily Wilson, Advancement Officer, at 317-462-8870 or emily@celebratehancock.org.
CFHC provides philanthropic leadership by encouraging giving, learning, community pride and civic engagement. Working with caring individuals, families, and organizations to create or grow existing permanent endowment funds is critical to the organization’s mission. These funds generate income that is distributed in the form of grants and scholarships to enrich and enhance life in Hancock County, as well as support the donor’s favorite charitable causes, both at home and afar forever. CFHC has granted millions of dollars since its inception in 1992.
