Field of Interest Funds

Donors establish Field of Interest funds to support their chosen area of concern, such as education, the arts, or youth services. The Foundation?s Board of Governors will make grants for the most appropriate programs and organizations within the donor?s chosen field of interest. Field of Interest funds enable donors to focus a significant contribution in an area that is meaningful to them.

The Role of the Donor

• Open a Field of Interest fund with a contribution valued at $5,000 or more.
• Determine the area of interest to be the focus of grantmaking. The area may be as broad or as narrow as the donor wishes.
• Name the fund.
• Work with the Foundation?s staff to publicize the fund as desired.
• Take a tax deduction at the time the gift is made.
• Add to the fund at any time.

The Role of the Foundation

• Provide the services of the Foundation?s professional grantmaking staff to the fund.
• Approve grants to recipient organizations within the field of interest.
• Assure that the name of the fund is associated with all grants made from it in perpetuity.
• Manage the fund, oversee its investment, and maintain fund records.
• File federal and state tax returns and provide an annual independent audit.
• Report the fund in its annual report.
• Issue financial reports on the fund to the donor.

Are there any other considerations?

An individual or organization which places a fund in the Parkersburg Area Community Foundation gives up control of these funds. They are no longer assets of the individual or the organization; but instead fall under the ultimate authority of the Foundation?s Board of Governors. Although the funds will be permanently committed to the purposes outlined at the time of the fund?s establishment, the individual or organization cannot be directly involved in management of the asset or its management.