Types of Funds

General Fund

A contribution to the Foundation’s General Fund is considered to be a donation without restriction, and grants are made from that fund at the discretion of the Board of Directors.

The invaluable factor in the consideration of opportunities for funding, as in all Foundation decisions, is the collective experience of its Board of Directors. When an application is received for a grant from the General Fund, the Board considers:

1. The integrity of the applicant and the proposed project;
2. The priority of project impact in light of other pending requests;
3. The controls to be applied to the disbursement of grant funds;
4. The benefits of the proposed project to the Edwardsville area;
5. The project evaluation process proposed.

Donor Advised Fund

A Donor Advised Fund is established by a Donor making an irrevocable, tax-deductible contribution to the Foundation. It is called “Donor Advised” because distributions are made from the Fund when the Donor (or other advisor named by the Donor) suggests to the Foundation that distributions be made to qualified organizations or for scholarships. The recipient is informed that the distribution was made at the Donor’s request.

Scholarship Fund

A donor may create a Scholarship Fund in the name of a relative, friend, or work-place associate. Within defined limits, the donor may designate the criteria for a grant from the Fund, such as:

1. The integrity of the applicant and the proposed project;
2. Support for students dedicated to a particular field of study;
3. Support for students from a particular high school;
4. Support for students who select a particular college of university;
5. Support for students who opt for vocational training.

The Internal Revenue Service guidelines, an objective selection process is required for the recipients of disbursements from a Scholarship Fund.

Establishing an Endowment Fund

If you choose to contribute $10,000 or more to the Foundation, you may want to consider establishing an Endowment Fund. Your contribution will provide for the generation of income that will be available for grant at the discretion of the Board of Directors, or as you may advise. Your contribution may be identified by name, and subsequent grants from the Fund will carry that name forward. Your total contribution of $10,000 or more may be made over an extended period of time to suit your budget preferences.

Administrative Fund

The nominal overhead costs of the Foundation are borne by Sustaining Members who contribute to the Fund specifically for that purpose. A contribution to the Administrative Fund will help assure that every dollar contributed for charitable purpose will be available for that use.