[title size=”1″]Unrestricted Fund[/title]
Types of Funds > Unrestricted Fund
When you establish an Unrestricted Fund, your gift can address a broad range of local needs— including future needs that often cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being: arts and culture, economic development, education, environment, health and human services, neighborhood revitalization, and more. The flexibility of your unrestricted gift enables your community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow.
Because you set no restrictions on the use of your gift, it enables our experienced program staff and board to do what they do best—assess community needs and respond by awarding grants to the nonprofit organizations that undertake our community’s most critical work. Unrestricted Funds enable your community foundation to support long-term solutions; respond quickly to emergencies; and meet changing social, cultural, educational, or environmental needs in our local community.
Grants are made in the name of the fund you establish, creating your personal legacy of giving. You may give your gift immediately or through your will or other estate planning strategy. If you endow your gift, it becomes a permanent community funding resource.
Through the support of many generous donors, the unrestricted fund for Dunn County, called the Common Good Fund, has been creating impact for almost 20 years. We are seeking donors willing to establish additional unrestricted funds, named in their fund in honor or memory of someone, or in their family’s name. You can the the community foundation to determine how your fund’s grants will best be used to address current and future challenges in Dunn County.
[title size=”3″]Donor Story: A lasting legacy[/title]
The Council on Foundations in collaboration with Community Foundations across the country have collected personal stories to exemplify the impact of an Unrestricted Fund.
Peggy and Ed Gibb always made giving to their community a personal priority. In meetings with their professional advisor, they began to consider including a bequest that would benefit their local community. “Peggy and I care a lot about this town,†says Ed. “We wanted to give in a way that would continually help the people who live here.â€
After considering their options, the Gibbs decided to establish an Unrestricted Fund with their local community foundation. The Gibb Community Fund would take effect after they both passed away, leaving a portion of their estate to charity.
“By establishing an Unrestricted Fund, we were able to keep our gift from becoming outdated. Community needs change, so we wanted to make sure our gift wasn’t too narrowly focused,†says Peggy. “Because it’s endowed at the community foundation, our gift will make a difference forever,†Ed says. “It will grow over time and become a more and more valuable asset for our community. This is exactly the legacy Peggy and I want to leave.â€
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There is so much more we’d like you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact the Community Foundation.