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Types of Funds

An important part of our work is building a permanent collection of funds for our communities. Our Board of Directors ensures that these funds will grow in perpetuity and will continue to carry out the charitable objectives of the donors who established them.

The first grants and scholarships were presented in 1997 and totaled $5,000. To date a total of over $3,000,000 has been awarded.

Our fund holders share the costs of a knowledgeable staff, enjoy excellent financial management and benefit from a closely monitored investment strategy. Each donor has committed staff working on his or her behalf.

  • Unrestricted Funds

    Unrestricted Funds are established by donors, often as name funds, who wish to support current community issues determined by the Foundation. These funds are the Foundation's most responsive vehicle to address changing needs.

  • Field of Interest Funds

    Field of Interest Funds focus on a particular are of interest or cause, but not on a particular organization. Funds are distributed annually through a grant application process to address an area of interest such as education, health, youth, the environment, etc.

  • Donor Advised Funds

    Donor Advised Funds allow donors to work actively with the Foundation in selecting charitable recipients. Donors, or their representatives, recommend grants. These recommendations are advisory and the Foudnation's governing body has legal control over all distributions.  

  • Donor Designated Funds

    A Designated Fund allows the donor to select a specific organization or area of interest to receive support via annual distributions.  

  • Scholoarship Funds

    A Scholarship Fund allows donors to provide financial assistance to students going on to higher education. Eligibility for the scholarship and the responsibility of the donor and the Foundation are spelled out in detail. The donor may specify the committee or group that will help determine the scholarship recipient, amount awarded, number of years of award, choice of major/career, enrollment at certain schools and criteria for continued receipt of the award.

  • Agency Funds

    Agency Funds allow charitable agencies and organizations to place their endowed funds with the Foundation for management and investment purposes. At the direction of the organization, income may be distributed back to them for their general purposes.  

  • Project Funds

    Project Funds are special funds developed between the Foundation and an organization or other group. An example of a Project Fund is a Capital Campaign or special project where the agency needs to raise funds.

  • Pass-Through Funds

    Pass-Through Funds allow donors who want to take advantage of an immediate charitable tax deduction or who want to put aside funds for an unspecified charity at a later date. The Foundation will hold these funds until the donor decides what charitable organization the funds should be awarded to.    

  • Administrative Fund

    The Administrative Fund is an endowment designated exclusively to support the operations of the M&M Area Community Foundation. Investment earnings from the fund are used for the expenses involved in managing the Foundation's daily operations.