Unrestricted Funds (also called a general fund)
Unrestricted gifts will be used to support local organizations that the Community Foundation believes make the greatest positive impact on the well-being of Park County residents. Funds may also be used to support the operation of the Foundation which includes working with nonprofits to optimize their organization.
A restricted fund is a reserve that can only be used for specific purposes. Restricted funds provide reassurance to donors that their contributions will be used in a manner they have chosen. When a donor gives money to the Park County Community Foundation, he or she may specify whether the gift is unrestricted and can be used for any purpose the Foundation deems necessary (see below), temporarily restricted to be used for a certain purpose, or permanently restricted so that the donation acts as principal on which interest can be earned and only the interest is to be spent.
This is an opportunity for you and your family to leave a lasting legacy to Park County. A donor-advised fund is a fund by which a donor, or designated advisor, may recommend grants to Park County non-profit organizations that you care about.
Donor-advised funds offer the advantages of a private foundation, yet have lower management costs and greater tax benefits. Donor-advised funds are especially useful for donors who want to take a charitable deduction one year and make distributions from income or principal in future years. Donors are able to participate actively in the giving process by recommending organizations to receive gifts. The Park County Community Foundation assists donor advisors by maintaining fund records, researching potential fund recipients, ensuring that distributions are made to qualified tax-exempt organizations, and connecting donors with potential fund recipients.
Field-of-interest funds support a broad array of interests such as the arts, education, and health. The donor specifies his or her interest at the time the fund is created. The Foundation then makes grants from these funds to the most appropriate organizations. An example of a Park County Community Foundation field-of-interest fund is the performing arts.
Designated funds ensure long-term support for one or more specific nonprofit organizations, identified by the donor at the time the fund is established. The named organizations receive an annual contribution from the designated fund.
Memorial funds operate like donor-advised funds but are named in a loved one’s memory. As with all funds, gifts can be made to the fund by anyone at any time.
Organization Endowed Funds
Nonprofit organizations may place their endowed funds at the Park County Community Foundation, thus assuring donors that funds earmarked for the future will be invested wisely and used appropriately. The Foundation manages the fund as part of its investments and then distributes annual payments to the organization.
The Park County Community Foundation scholarship program brings together students in need and individuals who care about education to enable more students to reach their educational goals. Scholarship funds may be established to benefit a specific school or field of study. An example is the Barbara Thronson-Park County Community Foundation Scholarship established in 2015.
Special Project Funds
A special project fund is established for a limited purpose or a special, one-time project. These are generally not permanent funds.
*** If restricted funds are no longer needed for a purpose designated by the donor, the funds will be redirected by the Board of Directors to another need within the community.