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Fund Types

Donors can realize nearly any charitable intent by choosing from the variety of fund types offered by the Foundation. These fund types can be created as (1) “endowment funds” which are structured to serve their intended charitable purpose(s) in perpetuity or as (2) “pass-thru funds” which are temporary charitable vehicles that close upon the fulfillment of their purposes.

The Foundation offers the following types of funds:


Funds assisting the Foundation in its work enable our organization to maintain modest levels of fees for services to the community.

Agency and Institutional Endowment

These funds are structured to serve their intended charitable purpose(s) into perpetuity; the Foundation ensures the preservation and long-term growth of each of these funds. Agencies affiliated with the Foundation are relieved of any accounting and reporting requirements that accompany the management of an endowment. The Foundation also pools its assets, meaning a more diverse investment portfolio for each endowment.

Combination of Charitable Purposes

A highly customizable option, perfect for those who wish to support several charitable causes or hope to lend their creative touch to charitable giving. (Donors can request that set percentages be awarded to certain charities and earmark the balance for a particular field of interest, for example.)


These funds are designed to benefit specific charitable organizations (a non-profit agency, civic institution, religious house of worship, etc.). If a specific beneficiary of a fund ceases to exist, the Foundation will follow the original intentions of the donor by identifying organizations of similar purpose, ensuring that the donor’s objectives are fulfilled.

Donor Advised

A popular alternative to a private foundation, Donor Advised Funds allow donors to make suggestions for distributions to meet current needs. While these suggestions are nonbinding per the IRS, they are nonetheless given serious consideration by our Board of Directors.

Field of Interest

From youth, to education, to senior citizen needs, to the arts and more, donors can choose a field of interest, the needs of which are then evaluated by the Foundation and attended to in the name of the fund.

Grantmaking Program

Our thriving grantmaking program is made possible thanks to contributions to one of our unrestricted funds, as well as those who have created their own funds which support our discretionary grantmaking program.


The Community Foundation is well known for its extensive scholarship program. Many donors create Scholarship Funds as memorials to loved ones and friends. Donors can define the criteria of their funds, awarding students according to a specific high school, field of study, etc. Funds can either be structured to reflect most charitable objectives or left “open-ended”, which allows the Foundation greater flexibility when awarding scholarships.


Unrestricted Funds permit the Foundation the greatest flexibility in responding to present and future charitable needs within our service area. Donors establishing Unrestricted Funds rely on the expertise of the Foundation board and staff to identify and evaluate the most effective uses for the fund.

As stated above, funds can be created as (1) “endowment funds” (permanent resources for the community) or as (2) “pass-thru funds” (temporary charitable vehicles).

(1) Endowment Funds:  Once a fund reaches $10,000, it can be created as an endowment to serve the community in the donor’s name on a permanent basis. The amount available for distribution from these funds is carefully established by the Foundation to ensure the preservation and long-term growth of each endowment fund.  A modest administrative fee is charged for the services provided to these funds.

(2) Pass-Thru Funds:  Funds with balances of less than $10,000 are commingled within our Consolidated Fund.  No administrative fees are charged against these funds and the income earned by the Consolidated Fund assists the Foundation with its expenses.  Several Donors who maintain “pass-thru funds,” which have a value of $10,000 or more, have requested that their funds be invested to accrue income.  Administrative fees apply to these funds.

There’s no question in my mind that the scholarship I received opened up possibilities.

Marianne Renner

Past Scholarship Recipient & Current Leadership Coach

…you can always start small, even $25 can make a difference. Remember we can’t take our money with us. Even if it’s just your gift of time. Volunteer and get involved.

Cris Anderson

Cristina & Thomas S. Anderson Endowment Fund | Tom & Cris Anderson Colonial Advisory Fund

We chose the Community Foundation because of its reputation. It’s well known, established and we can trust them to do the job for us.

Dick Schindel

Richard and Susan Schindel Scholarship Funds

As a first-generation college student from a low-income family, I was worried about how I was going to pay for books and supplies. This scholarship will allow me to focus more on my studies instead of worrying about how to afford college. I am working to not only create opportunities for myself but to motivate future generations. Thank you so much for helping me along this journey!

Moises J.

Claude & Alice Allen Memorial Scholarship Recipient

A community foundation is a donor-driven organization that helps donors custom-design funds that reflect their charitable interests. Through the years, grants from these funds have made a significant impact on our local communities.

Sharon Stredde

President Emeritus

Thank you very much for supporting my college education for these four years. I will never be able to repay you for the opportunity that this scholarship has given to me.

Julia H.

[Renewing Scholarship Recipient] Graduate of Hinkley-Big Rock High School

Community Foundation of the Fox River Valley

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