Community Foundation of

Randolph County, Inc.

 

We do not inherit the earth from our ancestors. We borrow it from our children.

-Native American Proverb

 

A vision only works if it is kept alive.

-Elizabeth Jeffries

 

What I understand today is that communities must be based on equality and partnership.

-Juana Bordas

 

The servant must constantly ask: How can I use myself to serve best?

-Robert Greenleaf

 

Make no little plans, they have no magic to stir men's blood... Make big plans, aim high in hope and work.

-Daniel Burnham

 

Transformation is not automatic. It must be learned. It must be led.

-W. Edwards Demming

 

Everyone is special here-- treat each differently.

-James Autry

 

 

Types of Funds

Discretionary Fund

A Discretionary Fund (endowment or pass-through) typically is established to provide support for general, unspecified charitable purposes at the discretion of the Community Foundation, with no advice or recommendations from the Donor (or any persons designated by the Donor). Designated Fund A

Designated Fund (endowment or pass-through) typically is established to provide support for a specified public charity (e.g., the local art museum, symphony, or hospital), with no future advice or recommendations from the Donor (or any persons designated by the Donor).

Field of Interest Fund

A Field of Interest Fund (endowment or pass-through) typically is established to provide support for a specified charitable purpose (e.g., cancer research, the arts, public schools, impoverished children), with no future advice or recommendations from the Donor (or any persons designated by the Donor).

Advised Fund

An Advised Fund (endowment or pass-through) typically is established at the request of a Donor to the Community Foundation to provide support for charitable and similar exempt expenditures or recipients recommended by the Donor or persons designated by the Donor to advise the Community Foundation. The recommendations must be advisory only, and the Community Foundation must be free to reject any or all recommendations.

Discretionary Scholarship Fund

A Discretionary Scholarship Fund (endowment or pass-through) typically is established to provide educational scholarships to individuals, with no advice or recommendations from the Donor (or persons designated by the Donor). If the Donor wishes to be involved in the selection of scholarship recipients (or wishes to designate one or more persons to be involved in the selection of scholarship recipients), the Advised Scholarship Fund Agreement forms should be used.

Advised Scholarship Fund Agreements

An Advised Scholarship Fund (endowment or pass-through) typically is established to provide educational scholarships to individuals, where the Donor or persons designated by the Donor are to be involved in the selection of scholarship recipients. Under new Code provisions added by the Pension Act, the Donor (or his or her designee) may only participate in such selection as a member of a larger advisory committee, and the following additional requirements must be met:

i) Each and every member of the committee must be appointed by the Community Foundation (rather than by the Donor).

ii) The Donor and his/her designees may not control or constitute a majority of the committee.

iii) All scholarship grants must be awarded pursuant to objective and nondiscriminatory procedures, approved in advance by the Community Foundation's Board of Directors, that are designed to satisfy Code section 4945(g)(1), (2), or (3). The scholarship advisory committee's recommendations must be advisory only, and the Community Foundation must be free to reject any recommendations.

Advised Agency Fund Agreements

An Advised Agency Fund (endowment or pass-through) typically is established at the request of a charitable organization (the "Agency") to provide support for Agency's exempt purposes, as recommended by the Agency. The Agency's recommendations must be advisory only, and the Community Foundation must be free to reject any recommendations.