With the exception of The Fund for the NRV, all funds created at the CFNRV have two components to allow for maximum flexibility while ensuring a long-term source of funding to meet your charitable interest. They are:
Endowment: This is your savings account for the community, providing a source of funding that will meet your charitable interest in perpetuity. The principal participates in the Foundation’s investment pool managed by local money managers. Investment earnings are allocated amongst all participating funds each quarter. Grant and scholarship distribution amounts are calculated based on the distribution percentage set by the CFNRV Board of Directors annually. A fund is considered fully endowed when it reaches $15,000 for Scholarship Funds and $10,000 for Donor Advised, Designated, and Field of Interest Funds; donors have three years to reach this threshold.
Pass-Through: This is your checking account, allowing you to make an impact on immediate community needs. The principal may be spent down to zero and replenished as needed. Pass-through funds remain in a money market account and grants and scholarships may be distributed from the pass-through in an amount requested by the donor.
Want more information? Learn more about establishing a fund.