CCCF Funds

The links below will take you to descriptions of each of the Clare County Community Foundation's funds that are in the particular category type listed. In each category there may be both endowed funds and non-endowed funds, so if that is of importance to you, be mindful of those distinct designations.

An endowed fund will exist in perpetuity, and spending from the fund is controlled by a spending policy. In short, our current spending policy is that 5% of the market value of the fund, based on a 20-quarter rolling average, becomes spendable each year, and that amount if unused remains spendable in the future. Gifts to endowed funds may qualify for the Michigan Community Foundation Tax Credit in addition to a federal income tax deduction.

A non-endowed fund is 100% spendable, and is most often established to support a short-term project. While gifts to non-endowed funds qualify for a federal income tax deduction, they do not qualify for the Michigan Community Foundation Tax Credit.

Most funds established at the Clare County Community Foundation are endowments. Establishing an endowment fund has long been a wonderful way to create a legacy of caring for your community. Frequently, those funds bear the name of the donor or of a loved one. Endowment funds are actually permanent gifts--meeting needs and enriching community life in accordance with the donor's wishes in perpetuity--because the fund principal is always invested and never spent.

Last updated on March 31, 2009 1:26pm.