Field of Interest type Funds

Field of Interest. A donor or donors may establish a fund in their name or in any name they choose (unless the Board of Directors deems the name would be offensive) and designate as broad or narrow a field of interest as they wish. A donor may establish a field of interest fund that could attract additional gifts from other donors. 

A gift of any size will be accepted to establish a field of interest fund but the fund must reach a minimum of $5,000 within three years. If the fund does not reach $5,000 in that period of time, the Board may vote to dissolve the Fund and transfer the assets to the Unrestricted General Fund or may use the entire assets in the fund to make a grant within the designated field of interest. No grants will be made from the fund until the fund reaches the minimum. It will be added to the pool of funds and will be subject to investment fees and any gains/losses, however, until it reaches $5,000 it will not be subject to management fees.

If the field of interest is so narrow that after a reasonable period of time the Board is unable to determine appropriate grantees, the Board may use the variance power to broaden the purpose as near as possible to the original intent to make meaningful grants.