Fund Types

Find the right fund structure for your philanthropic goals

Choosing a fund

The right type depends on your goals

Our Community Foundation offers several types of funds to match different giving goals. Whether you want complete flexibility, donor control, or a specific purpose, there’s a fund structure that fits. All funds are permanently invested and generate income that supports Daviess County in perpetuity.

Our grant programs support a wide range of community needs, from classroom innovation to housing stability to youth programs. Every dollar we award stays in Daviess County.

Unrestricted Community Fund

The most flexible fund type. Gifts are pooled and granted where community needs are greatest each cycle. Ideal for donors who trust the Foundation to direct their giving.

Best for: Donors who want broad community impact without managing grants

Donor-Advised Fund

You recommend grants from your fund to any nonprofit you choose. The Foundation handles all administration and investing. One of the most popular and tax-efficient giving vehicles available.

Best for: Donors who want ongoing involvement in their giving decisions

Designated Fund

Permanently supports one specific nonprofit organization. Distributions go to that organization each year from investment income — forever, even after the donor is gone.

Best for: Donors with a specific organization or cause they want to support permanently

Field of Interest Fund

Supports a specific area of community need — like education, youth programs, or arts — rather than a single organization. The Foundation grants within that field each cycle.

Best for: Donors passionate about a cause area, not a specific organization

Agency Fund

A nonprofit organization establishes a fund at the Foundation to hold and invest its assets. The organization retains advisory rights over grants from the fund.

Best for: Nonprofits seeking professional investment management for their reserves

Operating Fund

Supports the day-to-day operational needs of a specific nonprofit organization, rather than a particular program or project.

Best for: Donors who want to support an organization’s capacity and sustainability

Scholarship Fund

Awards scholarships to students meeting criteria set by the donor — such as a specific school, field of study, or community. The Foundation manages the selection process.

Best for: Donors who want to invest in education and student success

Setting Up a Fund

Not sure which fund type is right for you? We'll walk you through the options and help you make the best decision for your goals, your family, and your community.

Next Step: Contact us to start the conversation