Types of Funds
CHILLICOTHE-ROSS COMMUNITY FOUNDATIONCharitable Funds
It’s one thing to write a $100 check to your favorite charity, but imagine supporting it forever with a charitable fund.
Charitable funds at the Chillicothe-Ross Community Foundation allow you to streamline and simplify your giving in one location, while preserving charitable dollars for your favorite causes now and long after you’re gone.
No matter your philanthropic wishes – whether you want to help students attend college or give to a variety of causes over your lifetime – one of our six types of funds can work for you.
Benefits of a Charitable Fund at the Chillicothe-Ross Community Foundation
Long-term growth
Streamlined gift accounting
Greater tax deductibility
Privacy
No administrative burdens
Legacy
Donor-Advised Funds
Donors who wish to be actively involved prefer this fund because it allows you to contribute assets to your fund at any time and then recommend grants to support charitable groups of your choice. They are a flexible, personalized way to support nonprofit groups in Ross County, elsewhere in the U.S., or anywhere in the world.
Unrestricted Funds
Unrestricted funds provide critical support, enabling nonprofits to address unforeseen needs and emerging challenges within our community. We invite applications from organizations tackling pressing issues. A rigorous review process ensures that funds are awarded to the most impactful programs.
Scholarship Funds
Invest in the future of our community by establishing a scholarship fund. Your gift will empower local students to pursue their higher education dreams. Create a lasting legacy by naming your fund after your family, organization, or in honor of a loved one. These funds can support a wide range of educational needs and make a real difference in the lives of young people.”
Designated Funds
These Funds enable you to support one or more specific organizations of your choice. These funds can be established to ensure that a particular charitable organization will receive your support over a long period of time, even in perpetuity.
Agency or Organizational Funds
This fund is created by an agency for itself. This endowment fund can be used for the operation or further development of the organization, guaranteeing the nonprofit organization a steady stream of income for its charitable mission.
Field-of-Interest Funds
This fund can reflect your own general interests and concerns and supports organizations that benefit, for example, Chillicothe’s civic activities, the arts, economic development, youth, the environment, human services or other important goals.
When Does a Charitable Fund Make Sense?
When you’d like to honor or memorialize a family member, friend or colleague
When you’re about to sell your business, or have highly appreciated assets like stocks or real estate, and may face significant tax consequences
If you have a private foundation that is costing too much or taking too much time to administer
If you have received a considerable inheritance
The Power of Endowment
An important decision when creating your fund at the community foundation is whether you will make it last forever. An endowment is a permanent fund, and with it comes several advantages:
Perpetual Income
Generational Giving
Allow future generations to continue your family’s giving traditions after you’re gone
Legacy
Stewardship
If you choose to endow your fund, that means you will make grants from the spendable income and leave the principal untouched to grow in perpetuity. For our permanent endowments, the Chillicothe-Ross Community Foundation limits grants and distributions to a total of 4.5% of the average value of assets (recalculated quarterly and based on a 12-quarter rolling average) to ensure long-term growth.