What is an Unrestricted Fund
When you establish an Unrestricted Fund, your gift addresses a broad range of local needs - including future needs that often cannot be anticipated at the time your gift is made. Because you set no restrictions on the use of your gift, it enables our staff and Board of Directors to do what they do best - assess community needs and respond by awarding grants to the nonprofit organizations that undertake our community's most critical work. We evaluate all aspects of community well-being: arts and culture, economic development, education, environment, health and human services, neighborhood revitalization and more. The flexibility of your unrestricted gift enables The Community Foundation to support long-term solutions; respond quickly to emergencies; and meet changing social, cultural, educational, or environmental needs in our local community.
Grants are made in the name of the fund you establish, creating your personal legacy of giving. You may give your gift immediately or through your will or other estate planning strategy. If you endow your gift, it becomes a permanent community funding resource.
How it Works
- You make an unrestricted gift to The Community Foundation during your lifetime or through a bequest in your will. You can give cash, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name, in the name of your family or business, or in honor of any person or organization you choose.
- You receive tax benefits in the year your gift is made.
- Each year, our professional staff determines the areas of community need that can be most benefited by grants from your gift.
- Our board issues grants in the name of the fund you establish (if you prefer, grants can be made anonymously).
- We handle all the administrative details.
- Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift - and all future earnings from your gift - is a permanent source of community capital, helping to do good work forever.
Most charitable gifts qualify for maximum tax advantage under federal law. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact The Community Foundation at 203-777-2386.
Learn about The Foundation's General Fund, an unrestricted fund that supports the community's immediate needs and opportunities.