Types of Funds
Each fund is governed by a legal document -- a fund agreement that specifies the name of the fund, the intent of the fund and, if it is donor advised, the persons who will have the right to recommend distributions from the fund.

The fund agreement is an important document because it describes the donor's charitable wishes.  Because endowed gifts are designed to last in perpetuity and benefit the community for generations to come, it is the fund agreement that ensures distributions will always be made in a manner consistent with the donor's charitable wishes.

Types Available:
Unrestricted Funds have the greatest potential for meeting the community's urgent needs. Recommended by the Grants Committee and expanded at the discretion of the Board of Directors, unrestricted funds give the Foundation the flexibility to respond to the changing needs of Marshall County.

Field of Interest Funds allow donors to specify a particular field (such as recreation, the arts, or the elderly) without limiting grants to any one organization serving that field.

Donor Advised Funds are created to allow input from the donor in recommending potential grant recipients.  In accordance with the U.S. Treasury regulations, final approval still rests with the Board of Directors

Agency Endowment Funds allow organizations to receive net income for their operational needs or charitable activities form fund administered by the Foundation.

Donor Designated Funds are designed to serve a specific beneficiary.