Fund Types

We are home to over 500 charitable funds ranging in size from $10,000 to $30 million.

All funds are placed into an investment pool and a portion of each fund is used to make grants in accordance with the donor’s intentions.

Whatever your passion—college readiness, local parks, family welfare—the Community Foundation offers a simple, flexible, and rewarding way to get involved. There are six types of funds to choose from:

Unrestricted

Unrestricted funds enable the Community Foundation to address the changing and most critical needs of Newaygo County. These funds provide maximum flexibility and allow us to make the greatest investment in our community.

Advised

Advised funds are convenient, flexible tools for donors who want to personally recommend grant awards from a fund they have established at the Community Foundation.

Agency endowment

Agency endowment funds are established by specific nonprofits or educational/religious organizations to provide a permanent source of income for years to come.

Designated

Designated funds are established by donors to benefit specific charities or programs of a nonprofit organization.

Field-of-interest

These funds allow donors to support the issues and causes they care about most. The donor chooses the field for which their fund can be used and our board makes grants to address needs within that field.

Scholarship

Scholarship funds help adult and high school students in Newaygo County achieve their educational goals.

 

Spending rule

Our spending rule determines how much we are able to grant each year from our endowed funds. The spending rule currently allows grant distributions of 4.1 percent of a rolling 16 quarter average market value of funds.

The balance of earnings are reinvested to enhance the granting power of the endowment over time. A spending rule ensures that our endowed funds will be available to benefit the community for decades to come!

To view a full list of all funds held at Fremont Area Community Foundation, click here.