The Central Louisiana Community Foundation has four difference types of funds: Field-of-interest funds, Donor Advised Funds, Scholarship Funds, and Agency Funds. All of the funds at the Community Foundation can operate as endowments. What is an endowment?
An endowment is a permanent fund from which only the income is distributed. The fund is invested and continues to grow through sound stewardship with your cause/nonprofit continues to derive a perpetual income.
Field-of-interest funds are established to support unspecified programs or organizations in a general field of interest important to the donor, such as education, historic preservation, children, the elderly, the environment or arts and culture.
Donor advised funds allow the donor to make recommendations as to how distributions (grants) from the fund are spent. Although federal tax law requires that the foundation make the ultimate decisions on grant distributions, CLCF makes every effort to follow donors’ wishes. Donor advised funds operate much like a private foundation – but without the expense and tax-reporting requirements
Scholarship funds provide grants for educational purposes at both undergraduate and graduate levels. Donors may recommend an academic focus for their scholarship fund (such as nursing, the arts or engineering) and eligibility criteria (including financial need, academic merit, geographic residence and/or community service)
Agency funds are established by a nonprofit organization to function as a vehicle of investment. An organization placing its fund with CLCF directly benefits from inclusion in a large portfolio with access to experienced investment managers.