Types of Funds/Scholarshipstgkvf2020-01-23T16:13:32-05:00
With a gift of $10,000 or more, you can create a fund with its own name and charitable purposes. The six types of Funds we administer are listed below. Please contact the Foundation office for more specific information.
The Board of Trustees has the discretion of annually selecting the Fund’s most appropriate beneficiaries in the areas of arts & culture, education, health, basic needs,community economic development, and other charitable areas of interest.
Specify the charitable need for the Fund to address, but not the particular organization to receive distributions (e.g. for the care of the elderly or for medical research). These Funds partially restrict the use of income, yet still allow flexibility to meet changing charitable needs.
Periodically make recommendations for distributing the Fund, subject to the approval of the Foundation’s Board of Trustees.
Name the specific charitable organization or institutions to receive distributions. You can name one or several organizations and grants will be made to your favorite charities in the amounts or percentages you specify.
Establish the criteria our Board of Trustees uses in selecting qualified students to receive scholarships or specify a school, college, or university as the beneficiary of the Fund’s distributions. A gift of $20,000 is required to create a Scholarship Fund.
Specify that distributions from the Fund be used to help defray the operating expenses of the Foundation and in this way assist in the Foundation’s charitable efforts.