Funds are the basic building blocks of the Scioto Foundation. All named funds are created through a legal document called the Declaration of Gift. It is a two-party agreement between the Scioto Foundation and the donor or organization, and it details donor intent. The Declaration of gift directs the Foundation’s stewardship, now and in the future.
There are several types of funds donors can establish at the Scioto Foundation. These include:
Unrestricted Funds provide monies for grants and new programs.
Field of interest Funds provide grant dollars in certain areas such as health, education, or the arts.
Designated Funds benefit one or more organizations. Two other subtypes of designated funds include:
- Organizational endowments are created by nonprofits for their own use.
- Scholarships Funds range from high school to graduate work.
Donor Advised Funds are designed for donors that have differing interests. Grants can be made at the suggestion of the donor.
Acorn Funds are method of creating a fund through installments, over time. The Foundation charges no fee to help it grow from an Acorn to a mighty oak tree.