138 East Main Street Van Wert, Ohio 45891
(419) 238-1743
info@vanwertcountyfoundation.org

Van Wert County Foundation Fund Types

There are two types of funds held at The Van Wert County Foundation: Permanent Funds and Non-Permanent Funds.
Permanent Funds

The original gifted amount (principal) is permanently preserved. Only the income is spent.

Non-Permanent Funds

The original gifted amount and income can both be spent in entirety.

Within the confines of permanent and non-permanent funds, the following categories serve as a guide for how funds should be established and used.
  • Unrestricted Funds – Supports any charitable purpose. The Bequest Committee will make general-purpose grant spending recommendations to the board from these funds. These funds typically fulfill semi-annual grant requests from area organizations.
  • Designated Funds – Supports a specified public charity as established by the donor (for example: museum, church, hospital, library, youth organization).
  • Field of Interest Funds – Supports a specified charitable purpose as established by the donor, but not restrictive to a specific charitable organization.
  • Unrestricted Scholarship Funds – Provides general educational scholarships to individuals with no restrictions.
  • Designated Scholarship Funds – Provides educational scholarship to individuals with criteria on who should receive funds (for example: students graduating from named high school, enrolled in a specified major, and/or attending a specified university).
  • Charitable Organization Funds – Established by a charitable organization to provide support for the agency’s exempt purposes (for example: youth organization, service club, non-profit endowment).
  • Multi-Purpose Funds – Often a combination of the various permanent funds (for example: Percentage of income directed as a Designated Fund and percentage of income directed towards Scholarship Funds).
  • Donor Advised Funds – Created by a donor to provide support for charitable activities recommended by the donor (for example: direct charitable contribution towards youth camp, library, arts organization, church).
  • Community Project Funds – Established by a group of individuals who determine a solution to a community need. Often the group does not have a 501(c)3 status and uses The Foundation as an umbrella for donors to make charitable gifts towards the project. Funds can be established for a one-time project or for a new community program (for example: community fireworks, building projects, safety programs).