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donors | types of funds | establishing a fund | creating a legacy | contact
The Bucyrus Area Community Foundation currently offers a number of fund types in order to satisfy the donor's intent. We are always happy to talk to a donor about additional types of funds that we do not currently offer. Please contact Janet Pry by email or call at 419-562-3958 if you would like to discuss other possibilities.
UNRESTRICTED FUNDS: These gifts are made to the BACF with no restriction as to how they will be used making them the most flexible way of giving. This unrestricted income allows the BACF to meet demanding needs of the community's not-for-profit organizations, schools & municipalities. By putting your trust in the Board of Trustees, the BACF is able to adjust our giving as needs demand.
DESIGNATED FUNDS: These funds are established by the donor with the intent that the income from the fund will go directly to the charitable organization(s) of their choice. The income is usually distributed to the organizations annually and they may use this income in any way they deem responsible.
SCHOLARSHIP FUNDS: Scholarship funds are established by donor according to their interests and restrictions. Such restrictions might be limiting the award to graduates of a certain high school or to only be awarded to students pursuing a certain academic field upon graduation. The options are almost limitless as long as they follow the general guidelines of the Foundation. A minimum gift of $25,000 is usually required to start a scholarship fund.
FIELD OF INTEREST FUNDS: These funds are similar to DESIGNATED FUNDS except that instead of being directed to specific organizations the donor directs grants to be made to certain community needs, such as music education, children with disabilities, recreation, or historic preservation. This type of fund allows for more flexibility but still supports the wishes of the donor.
AGENCY ENDOWMENT FUNDS: Agency funds are held for a charitable organization with the income given to the agency on an annual basis. These funds may be established with current endowment funds and can be continually grown by additional gifts, fundraising events, or the like. There are many advantages to a not-for-profit in having their funds managed by the professionals at the BACF.
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