Unrestricted Fundsprovide the greatest flexibility in responding to the community’s changing needs. Donors place no restrictions on how such funds may be used allowing the Foundation to address the community’s most pressing needs as they emerge. Income from unrestricted endowment funds is the primary source of funding for the Foundation’s Community Grants program.
By establishing a Field-of-Interest Fund, you can target your gift to address needs in an important area of community life – arts, youth, substance abuse, education, the environment and more. You identify your personal interest area when making your gift; our Board awards grants to community organizations and programs that are making a difference in the program area you select. Your gift stays flexible enough to meet community needs in your interest area-even as they change over time.
Establishing a Donor-Advised Fund allows you to make a gift to the Community Foundation of Howard County, then remain involved in suggesting uses for your gift. Gifts are tax deductible at the time they are made to the Foundation even though distributions to other charitable organizations may be made over many years. You can work with our staff to suggest ongoing uses for the fund-targeting the issues you and your family care about most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It’s a simple, powerful, and highly personal approach to giving – and a great way to involve your entire family in philanthropy.
Establishing a Designated Fund allows you to support the good work of a one or more of your favorite nonprofit organizations-a senior center, museum, university or virtually any nonprofit charitable organization. Your gift provides the organization of your choice a sustainable source of income for years to come. Grants are distributed annually to the designated recipients. However, if any of the designated organizations should cease to exist, the Foundation will ensure that the fund continues the donor’s charitable objectives.
Some donors honor or memorialize a loved one or a retiring employee by creating a scholarship or award program to help further the education of deserving students based on criteria established by the donor. The Community Foundation of Howard County provides the expertise to help you meet your personal goals and handles the administrative details.