what are endowments?
Endowments are a way for you to forever provide for the people, organizations and places that you care about. When you establish an endowment through a charitable contribution to the Community Foundation of Randolph County, we do not spend your gift; we save it and invest it wisely.
THERE ARE TWO TYPES OF ENDOWMENTS
THE SCHOLARSHIP FUND
THE GOOD DEEDS FUND
INVESTING IN OUR FUTURE
The Scholarship Fund helps Randolph County students pursue higher education. Organizations, families, and individuals can establish a scholarship endowment with the Community Foundation and define the eligibility and selection criteria. For example, a field of study, academic or athletic achievement, community service experience, or career intentions. Scholarship Endowments may also honor or memorialize a loved one by awarding a grant to students who mirror the person's traits or achievements.
Together with the Southwestern Illinois Regional Leadership & Development Committee, the Community Foundation has awarded thousands of dollars in scholarships to Randolph County students.
MEETING THE NEEDS OF A CHANGING COMMUNITY
Unrestricted endowments to the Good Deeds Fund are endowments whose earnings are not designated or restricted to an organization or specific purpose. These funds are free to support a program of perpetual grant-giving designed to respond to the changing needs of Randolph County. Distributions from the Good Deeds Fund will be available and awarded to the community by application, at the discretion of the Community Foundation Board of Directors.
SUSTAIN AND SUPPORT LOCAL ORGANIZATIONS
Designated funding specifically names the organization or charitable purpose that will receive funds from the endowment. Donors may appoint more than one organization or mission. The use of the awards can be broadly or narrowly defined. For example, grants can be distributed to your organization annually to support operations, or to support specific projects.
CONNECTING VALUES TO OPPORTUNITIES
Field-of-interest endowments to the Good Deeds Fund designate an issue or area of need to receive grants. The donors identify their area of interest, and the Foundation will award grants to organizations and programs in Randolph County that serve that interest or concern.
As the Good Deeds Fund grows, Randolph County organizations may apply for matching grants for causes and community projects. Grants funded through the Good Deeds Fund will begin once sufficient wealth makes it possible.
SPECIAL PROJECT FUNDS
Special project funds may be established by the Board to support a specific charitable activity or community project that is consistent with the priorities of the community and the purpose of the Foundation.