The Sheridan County Community Foundation is pleased to announce the development of several new funds established throughout the past year including a designated fund, two organizational endowment funds, and a scholarship fund.
All four funds have been endowed with the Foundation meaning that a principal amount of at least $10,000.00 was invested. Each year thereafter, the fund has the potential to spend 5% of the respective fund’s net assets.
The Hoxie Cemetery Fund was established at the close of 2023 by anonymous donors. The annual net income from the fund will be distributed to the City of Hoxie, Hoxie, Kan. for the ongoing maintenance of the Hoxie Cemetery. The fund was established as a designated fund.
What is a Designated Fund?
A Designated Fund allows donors to direct their gift to a specific nonprofit organization(s) or purpose(s).
The Main Street Arts Council Fund and the Sheridan County Historical Society Fund, both organizational funds, were established by their respective entities to foster ongoing operations, programs, and activities.
What is an Organizational Fund?
A fund specific to a named charitable organization allowing for the investment of a principal amount of funds that grows over time and can provide ongoing operational or programmatic support for that organization. Endowed Organizational Funds can also serve as a wonderful vehicle for donors wishing to leave an estate/planned gift. These types of funds are often established by organizations as part of their sustainability plans.
The Pheasants Forever Memorial Scholarship was recently established by the local Pheasants Forever organization to benefit graduates of Hoxie USD 412 who have completed the hunter’s education certification course. This scholarship is being endowed and will have the capacity to offer financial assistance for students pursuing post-secondary educational endeavors in perpetuity.
What is a Scholarship Fund?
A fund to disburse scholarships to students meeting a set criteria (geographic, field of study, academic performance, community service, etc.), generally on a competitive basis, to be used for educational expenses. Scholarships are made payable to the educational institution on behalf of the student and not payable directly to the student. Scholarship Funds can be established to help students achieve their academic and career-oriented goals—from preschool to postgraduate work.
The Foundation can assist donors in the development of several additional types of funds including Donor Advised Funds, Unrestricted Funds, and Field of Interest Funds.
Any of these funds can be established in the donor’s name, or in the name of their family, their organization, or anyone they wish to honor. All grants distributed from the fund — today and in the future — are then awarded to charities in the name of that fund. It’s a great way for donors to always be involved with and remembered for their community investment.
What is a Donor Advised Fund?
A charitable fund in which the donor makes an annual gift(s), for example, to the community foundation and then recommends grants out from that fund to charitable organizations of their choice throughout the year. The Donor's grant recommendations are presented to the community foundation board for approval.
What is an Unrestricted Fund?
A fund in which a broad range of interests and activities may receive grants empowering the community foundation to make strategic grants wherever the greatest need and opportunity exists. This type of fund allows for ever-changing community needs — including future needs that often cannot be anticipated at the time the gift is made. The flexibility of an unrestricted gift enables the community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow.
What is a Field of Interest Fund?
A fund established to provide grants to specific causes (not just one specific charity) you designate such as the arts, education, health and human services, a geographic location, or the environment. Multiple fields of interest can be included in one fund.
For information regarding all of the Foundation’s existing funds, please visit www.growsheridancounty.org/list-of-funds. Donors interested in contributing to any of the funds or establishing a new fund of their own are encouraged to contact SCCF Executive Director director@growsheridancounty.org or 785-675-1240.
SCCF is an affiliate of the Greater Northwest Kansas Community Foundation based in Bird City. The foundation seeks to encourage, prudently manage, and distribute charitable contributions to improve the quality of life of Sheridan County residents, now and in the future. To learn more, contact Pratt at 785-675-1240, director@growsheridancounty.org, or visit www.growsheridancounty.org. Connect with SCCF at www.facebook.com/sheridanccf.
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