Types of Funds
The types of funds at the Heart of Illinois Community Foundation reflect the varied interests of our fund holders and donors.
Whether they are advised, designated or unrestricted, new or longstanding, endowed or non-endowed, they are evidence of the spirit of generosity of individuals, families, corporations and organizations seeking to make a positive impact in our community today, tomorrow and forever.
Donor-Advised and Corporate-Advised Funds
Allow an individual, family, or company the ability to establish a charitable fund, then recommend grants while the Foundation staff administers the grants.
Fund Assets: $15.9 million
Number of Funds: 116
Bundling with Donor-Advised Funds
Utilizing a Donor-Advised Fund is a great way to maximize your charitable giving and your tax deduction. By making larger contributions less frequently into a Donor-Advised Fund at the Heart of Illinois Community Foundation, you may claim the charitable deduction in the year you make your gift and then recommend grant distributions to the charitable organizations or churches you care about in the subsequent years.
It is a win-win! You receive the tax deduction and the organizations you've supported will benefit from your consistent giving.
Field of Interest Funds
Connect personal values to high-impact opportunities and allow individuals to target their gifts to address needs in a specific area.
Fund Assets: $9.5 million
Number of Funds: 32
Designated Funds
Provides income streams to support the programs and operations of for-impact (nonprofit) organizations (totals include agency funds).
Fund Assets: $6.1 million
Number of Funds: 92
Unrestricted Funds
Your gift can address ever-changing community needs including future needs that often cannot be anticipated at the time your gift is made. 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 your community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow.
Fund Assets: $185,000
Number of Funds: 3
Scholarship Funds
Invest in the next generation with post-secondary education assistance and build a foundation for a brighter tomorrow.
Fund Assets: $7 million
Number of Funds: 92
