The money managed by the Winona Community Foundation for philanthropic purposes is grouped into different types of funds. These funds reflect the interests of the donors and help us to fulfill our objective of making philanthropy easy for all.  Funds may be designated as spend-down or endowed:

Spend-Down - The entire amount given into these funds is available for grant recommendations at any time to non-profit agencies. Spend-down funds act as a convenient charitable account for the donor or for a group of donors.  It is the disregard for the preservation of principal that distinguishes these types of funds from endowed funds. 

Endowed - The income earned each year may be used for granting purposes.  The definition of "earnings” may be defined by the Foundation’s spending policy, investment policy, or the fund agreement. A pure endowment fund that specifies in the agreement that principal may never be spent is possible, but is not the usual.  Most agreements allow for an invasion of principal in certain circumstances.  The agreement and related correspondence should be reviewed to determine the donor’s intention when the fund is established to make the correct classification.

Types of Funds that can be established or given to:

Community General Fund - offers the broadest giving option, allowing grants to be made to local nonprofits based on established criteria and community
needs. The Winona Community Foundation has a grants committee comprised of members of the Board of Directors who review grant proposals from the twice yearly funding cycle.

Donor Advised Funds - enables you to recommend specific organizations to receive grants and you can take your time to decide where you want your
gifts to be directed.

Field of Interest Fund - create a fund that meets needs in a particular field or geographic area that is of interest to you, such as emergency services or
environmental concerns.

Special Purpose Fund - community groups who establishes a fund for their activities under the charitable umbrella of the Foundation.  Seen as a WCF program, but conducted with the resources of the group. This fund type is used when the Foundation agrees to be a fiscal sponsor.  This fund type is almost always classified as pass through and requires an application process for review by WCF committee. Fiscal Sponsorship Application

Scholarship Fund - help students pursue academic goals. You may define guidelines for candidacy, the advisory committee, the school and the award
itself.

Designated Fund - support specific organizations while we make sure that grants to these groups remain relevant over time and responsive to changing circumstances.

Agency Fund - established by nonprofit organizations to provide income to them. We handle all administrative and investment responsibilities, freeing the organization to pursue its charitable mission.  Often designated as organizational endowments.