Establish a Fund

The Greater Salina Community Foundation helps donors accomplish their charitable desires by providing different types of funds to address a variety of interests. Once a donor sets up a fund,they have five years to reach the fund minimum balance. After the minimum balance is obtained, grants can start being awarded from the fund.

Unrestricted Fund
The Fund for Greater Salina is the Foundation’s unrestricted community grant fund and offers the most flexibility to address current community needs.

When you donate to this fund, you are trusting us to use our knowledge and expertise to make grant decisions that address our community’s most pressing needs as well as supporting new and innovative projects.

All sizes of donations are welcome, however, donors who make a gift of $5,000 or more to the Fund for Greater Salina will receive permanent name recognition.

Designated Fund
Designated Funds let donors support one or more nonprofit organization(s), or educational or religious institution(s) of their choice. Annual gifts to the organization will be administered by the Foundation to support them in the present and in the future. Should the designated organization(s) cease to exist one day, the Foundation is able to redirect the gift to an appropriate alternative charity while keeping in mind the donor’s original intent.

Minimum to establish a Designated Fund: $10,000

Donor Advised Fund
Donor Advised Funds offer individuals, families, businesses or groups a simple and flexible way to suggest grant recipients from their fund without the administrative responsibilities of a private foundation. While most Donor Advised Funds are set up with permanently endowed giving in mind, donors may also request grants that invade the principal as long as a minimum of $10,000 remains in the fund.

Minimum to establish a Donor Advised Fund: $10,000

Click here for Donor Advised Guidelines.

Donor Advised Funds vs. Private Foundations

Scholarship Fund
Scholarship Funds help donors give the gift of education. Scholarships can be established either through direct donations or in honor of a loved one. Donors can help establish the criteria for the scholarship selection towards a specific institution, field of study, or student profile.

Minimum to establish a Scholarship Fund: $25,000

Click here for Scholarship Guidelines.

Organization Fund
Organization funds are a simple way for 501©(3) nonprofit organizations to establish endowments without having to create a separate legal organization such as their own foundation. The Community Foundation provides the administrative, investment and accounting services for these endowments, reducing workload. Organizations may request to receive an annual distribution from their fund, or simply let their fund grow for future needs.

Minimum investment to establish an Organization Fund: $10,000

Click here for Organization Fund Guidelines.

Field of Interest Fund
Field of Interest Funds offer donors a way to support a specific charitable cause or geographic area without designating a specific organization or charity. For example, a donor may wish to establish a fund that will provide annual grants that benefit environmental concerns, support for the elderly, or the community that they grew up in. Annual grants are determined by the Foundation and/or by a special grants committee with expertise in the particular field of interest.

Minimum investment to establish a Field of Interest Fund: $25,000

Fund for the Future
Funds for the future provide a way to give for donors who prefer to contribute gifts at the end of their lifetimes. The Foundation is an excellent vehicle for donors who wish to benefit one or dozens of charitable organizations after their death. Using wills, trusts, insurance policies and other estate planning tools, donors can create a lasting legacy.

If you have already included the Foundation in your estate plan, please let us know so that we may recognize your generosity.

Q. Need help with your estate plan?

A. The Foundation has contracted with Mr. John Griffin of Stewardship Counseling, LLC to provide comprehensive guidance to individuals and couples who want to establish or update estate plans that minimize gift, income and estate taxes. Appointments are limited. For more information, contact Betsy Wearing at the Foundation (785-823-1800).

Provisional Fund
Provisional Funds help charitable groups or organizations with a specific fund-raising need. The Foundation sets up a provisional fund for a cause or campaign where gifts can be “parked,” for the duration of the fund-raising campaign. Because the Foundation is a 501©(3) organization, all campaign gifts to the fund are tax deductable.

If the campaign is successful, all the money in the provisional fund will go to the organization for the campaign. If the campaign should fail, however, the foundation would disburse the money in the provisional fund to other qualified charitable entities requested by the donors.

Provisional Funds have separate, negotiable fees.

Pass-through Fund
Pass-through Funds are set up for donors who want to have the Foundation administer their charitable grants, but do not wish to maintain a permanent endowed fund. Pass-through Funds can be in the form of a Designated Fund, Donor Advised Fund, Field of Interest Fund, or Scholarship Fund and are assessed fees separately from other funds in the Foundation.

Contributions to the Fund will be imposed a 1% fee at the time the gift is received, with a minimum annual fee of $100. The minimum size of any one grant check to any charity is $250.