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GROW II
Community Foundation
PO Box 116
219 S. Main
Smith Center, KS 66967
785.476.3236
smithcounty@gscf.org
Types of Funds
Smith County Community Foundation Fund
Designated Funds
Donor-Advised Funds
Scholarship Funds
Organization Funds
Field of Interest Funds
Funds for the Future
Provisional Funds
Pass-through Funds
The Smith County Community Foundation matches charities with donors by providing different types of funds to address a wide variety of interests.
Smith County Community Foundation Fund is a general unrestricted fund. It allows donors without a specific charitable organization in mind to make a contribution to the Smith County area. The Community Foundation will award grants from this fund to worthwhile charitable causes. A grant application form is available on the Apply for a Grant page. At the bottom of the information, click on the grant application and print. Recipients will be determined by the Foundation’s board of directors.
No gift is too small for the Smith County Community Foundation fund. Likewise, grant recipients will not be restricted to Smith Center, but be selected from the Smith County area.
The Smith County Community Foundation fund also enables donors to create a named fund for a smaller contribution – $5,000 – than required to establish a donor-advised fund.
Designated Funds let donors support a specific organization or organizations. The donor names the charitable recipients. The Foundation administers gifts to the charities annually. In addition, the Foundation makes sure that these recipients remain relevant over time. When circumstances change and a charitable organization no longer exists, the Foundation ensures that the annual gifts from the designated fund are redirected to an appropriate charitable need, all the while keeping in mind the donor’s original intent. Minimum investment to establish a Designated Fund is $10,000.
Donor-Advised Funds allow the donor, the donor’s spouse, and/or the donor’s specified family members to suggest grant recipients from their fund without the administrative responsibilities of a private foundation. Although the law requires that the Smith County Community Foundation have ultimate control of these funds, the donor’s recommendations are followed as long as they are legally permissible. Although donor-advised funds are designed with permanently endowed giving in mind, donors may also request grants that invade the principal, so long as a minimum of $10,000 remains in the fund. Minimum investment to establish a Donor Advised Fund is $10,000.
Scholarship Funds can be established using memorial funds, direct donations or the rollover of an existing fund. Donors can help establish the criteria for scholarship selection. Awards can be given for a specific institution, for a specific field of study, or can be built around a certain student profile. Minimum investment to establish a Scholarship Fund is $25,000.
Click here to see the Scholarship Fund Guidelines.
Organization Funds enable not-for-profit charitable organizations to establish endowments without having to create a separate legal organization. The Foundation provides administrative, investment and accounting services for these endowments. Organizations may request to receive an annual distribution from their fund, or simply let their fund continue to grow for future needs. Minimum investment to establish an Organization Fund is $10,000.
Click here to
see the Organization Fund Guidelines.
Organization Fund Grant Application (PDF)
Organization Fund Grant Application (Word.doc)
The Foundation also offers opportunities for all nonprofit organizations and others performing charitable work in the Smith County area to apply for grants from the Smith County Community Foundation Fund. A call for applications is announced on the Foundation’s website, and through the mass media. Additional information and application forms areavailable on the Apply for a Grant page.
Field of Interest Funds allow donors to support a specific purpose, geographic area or charitable goal, without designating a specific organization or charity. For example, a donor may wish to establish a fund that will provide annual grants that benefit environmental concerns, support for the elderly, or a particular community. Anyone can make a donation of any size, at any time, to a field of interest fund. Minimum investment to establish a Field of Interest Fund is $25,000.
Funds for the Future provide an avenue for donors who prefer to contribute gifts at the end of their lifetimes. The Smith County Community Foundation is an excellent vehicle for donors who wish to benefit one or dozens of charitable organizations after their death. Using wills, trusts, insurance policies, and other estate planning tools, donors can create a legacy that will survive us all. In doing so, they fulfill their vision of a vibrant, healthy future for our children and our children’s children. If you would like more information on how to establish a Fund for the Future, contact the Foundation. If you have already provided for the Community Foundation in your estate planning, please let us know so that we may recognize your generosity.
Provisional Funds may be established at the discretion of the foundation's board of directors for charitable groups or organizations with a specific fund-raising need. The foundation may establish a provisional fund where donors to an approved cause or campaign can "park" gifts until such time as the campaign either succeeds or fails. Meanwhile, the charitable group or organizations would be able to count the dollars in the provisional fund toward the fundraising goal. If the campaign fails, the foundation would disburse the provisional fund to other qualified charitable entities requested by the donors. Provisional funds have separate, negotiable fees.
Pass-through Funds are created by donors who desire the foundation to administer their charitable grants, but who do not wish to maintain a permanent, endowed fund. Pass through funds are assessed fees separately from other funds in the foundation according to the following policy:
Upon receiving the gift, the foundation assesses an annual fee equal to the GREATER of: 1% of the total gift, or a minimum of $100. After two grants have been made from the fund, an additional fee of $25 per grant will be assessed.
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