Fund Types and Giving Options

At the Hiawatha Community Foundation, we make it easy for individuals, families, businesses, and nonprofits to support causes they care about, both now and in the future. Whether you are starting your own fund or contributing to an existing one, we offer flexible options to help you make a meaningful impact.

What is a Foundation Fund?

A foundation fund is a charitable account held and managed by the Hiawatha Community Foundation. Each fund has a specific purpose and is invested according to policies that support long-term sustainability and growth. Donors may create a fund in their own name, in memory of a loved one, or to support a particular cause or organization.

All funds are pooled for investment purposes, but are tracked and reported individually. Funds are overseen by an investment committee made up of experienced local professionals who ensure responsible financial stewardship.

Types of Foundation Funds

We offer six primary types of funds to align with a variety of charitable goals:

1. Donor-Advised Fund
   Allows donors to recommend grants to charitable organizations over time.

2. Designated Fund
   Provides long-term support to a specific nonprofit organization.

3. Agency Fund
   Established by a nonprofit to build long-term financial sustainability.

4. Field of Interest Fund
   Supports a specific area of interest such as education, health care, or the arts.

5. Scholarship Fund
   Provides financial assistance to students pursuing higher education.

6. Unrestricted Fund
   Supports the community’s most pressing needs, as determined by the foundation.

Endowed vs. Expendable Funds

Each type of fund can be structured in one of two ways:

1. Permanent Endowment Fund
   The original gift (principal) is invested and remains intact. Only the investment earnings are distributed, ensuring a lasting source of support and long-term sustainability.

2. Expendable Fund
   Both the principal and any investment earnings may be used to support charitable purposes. This option provides greater flexibility and is ideal for addressing immediate or short-term needs.

Establish a Fund

Starting a fund is a simple process, and we are here to assist you in the process.

1. Choose a fund type that aligns with your charitable goals. We’ll help you find the right fit.

2. Personalize your fund with a name and purpose that reflect your values or honor someone meaningful.

3. Complete the Fund Agreement Form to outline your intentions and structure your giving.

4. Make an initial gift to activate your fund. Visit our Ways to Give page to see your options.

5. Receive a tax-deductible receipt and start making an impact right away.

You can also name fund advisors, such as family members or trusted individuals, and recommend grants to the causes you care about, now and in the future.

Ready to Begin?

Fund Agreement Form

Contact us, we’re here to assist you!