Our Current Funds

The Elk County Community Foundation exists to serve the philanthropic wishes of area donors. It is a permanent resource of, by, and for the communities of Elk County. The main function of the Foundation is to create and maintain a pool of endowment funds. These funds produce income for charitable grants which benefit Elk County non-profits in an ongoing fashion. Below you will find the types of funds available as well as a list of the funds currently supported by the Foundation. 

Agency Endowment Fund

Non-profit organizations create permanent endowment funds that provide annual income to the organization

 

Unrestricted Fund

An unrestricted fund is your broadest option. It can reach out to all of the charitable organizations serving Elk County and fund those projects that best meet the community’s most pressing needs as those needs change over time. Donors may specify a particular geographic area to benefit from their funds. By establishing an unrestricted fund, you can create a living legacy that will grow and change as the community does.

Designated Fund

A designated fund allows you to name a particular charity or charities to benefit from your fund in perpetuity. The Foundation provides oversight to ensure that the gift is used exactly as you intended. Finally, you have the assurance that, should the designated charity cease to exist, the Foundation's Board will preserve your intent by redirecting the fund toward the closest similar use. Click here to learn about variance power.

Donor Advised Fund

Donor who want to be actively involved with their philanthropy may make grant recommendations to the Board of Directors, which retains final responsibility for all distributions.

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Hal and Pauline Fritz Family Fund

 

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Pass Though Fund

Offered as a community service, named funds can be established that allows donors to make a gift to The Foundation which then "passes through" to a favored charity.

Scholarship Funds

You can create a scholarship fund to accomplish specific education objectives. It can be designated for any level of education, from preschool to postgraduate work. Donors may designate a particular field of study, select eligibility requirements and define a fund’s advisory committee.

How Scholarships Work

Donors interested in promoting educational opportunities for students often establish scholarship funds, a special sort of donor advised fund. This may also be a preferred opportunity to honor a community organization or remember a family member with a memorial scholarship. Scholarships may support any level of education and can be based on the school the student is attending, their chosen field of study, financial need, or the community the student is from. The Elk County Community Foundation plays an oversight role with the grant making and administration of all scholarship funds and helps donors comply with all tax regulations. The Foundation can help establish and monitor selection criteria, publicize the scholarship and choose recipients.  Click here for more information on guidelines to establishing a scholarship.