Types of Funds - Story County Community Foundation | Grants & Tax Credits

Types of Funds

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Unrestricted Funds

These funds are typically created by visionary philanthropists with broad charitable interests. The donor of unrestricted gifts gives the responsibility for selecting grant recipients to SCCF's Board of Directors, based on their needs assessment and priority setting process. These funds offer SCCF maximum flexibility and the opportunity to support the creation of innovative solutions to community issues.
     Endowment information--click here

Field of Interest Funds

Education, the arts, disadvantaged youth and families, and individuals with special needs are a few of the areas donors support with Field of Interest Fund designations. Donors may wish to support health care, elder services, libraries or other fields important to you. The Story County Community Foundation's Board of Directors determines the specific recipient and grant amount to be made within the field specified by the donor.
     Field of interest information--click here

Donor-Designated Funds

Designated Funds are those created by donors for the benefit of a specified charitable agency (or agencies) and help ensure the continuity of a specified charitable organization. Designated Funds also may distribute investment income to the named organization on an annual basis, creating a stable income stream.

Agency Funds

Agency Endowment Funds may be created with the SCCF by a nonprofit agency itself for its own benefit. They provide benefits such as: receiving a stable source of annual income, allowing staff and board members to concentrate on fund raising, providing protection for the endowed monies, and having SCCF's Board and staff of the Community Foundation of Greater Des Moines' assistance where needed. The agency continues to direct the outflow of monies.

Donor Advised Funds

A donor advised fund is created within the Story County Community Foundation (SCCF) and allows you, the donor, to make grant recommendations for organizations you wish to support. If the fund is not permanent, grants are paid out of your fund investment income, principal, or a combination of both.
     Donor Advised Fund information--click here

Donor Advised Permanent Endowment Fund

A permanent endowed donor advised fund is set up within SCCF that allows the donor to make grant recommendations for organizations they wish to support. Grants are paid out at a spending rate of 5% annually of the fund balance at the end of the previous calendar year. A permanent fund is eligible for Endow Iowa Tax Credits.

Scholarship Funds

Donors may establish Scholarship Funds to benefit students of a particular school, geographic region, educational discipline, gender, academic accomplishment or other designation but not for a specific individual.
      Scholarships information--click here

Legacy Funds

Ideal for families and individuals who want to establish how their planned gift should be distributed after their lifetime. The Legacy fund is funded at the donors death and will fulfill the donor's intent for charitable giving past their own life.
     Legacy Fund information--click here

Charitable Gift Annuity

A gift vehicle that falls in the category of Planned Giving. It involves a contract between a donor and a charity, whereby the donor transfers cash or property to the charity in exchange for a partial tax deduction and a lifetime stream of annual income from the charity. When the donor dies, the charity keeps the gift.
     Charitable Gift Annuity--click here

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