Administrative Funds provide support for the ongoing operation of Marietta Community Foundation. This support permits the Foundation to charge no administrative fees to the Funds entrusted to it for charitable purposes.
Established by qualified charitable organizations, these funds generally distribute income at least annually to advance the organization's purpose. Charitable organizations place endowment funds with the Foundation as a means of protecting them for the future.
The donor specifies qualified organizations for support during their lifetimes and beyond. If at any time the named organization changes its purpose, or ceases to exist, the Foundation selects additional qualified organizations to ensure the donor's charitable intent is perpetuated.
Many donors maintain an active interest in the Foundation by participating in a grant making process. Donor Advised Funds encourage donors to offer suggestions for distributions to different charities. This fund type is especially useful for donors who want to take a charitable deduction one year and make distributions from the income or principal over several years.
The donor directs the Foundation to support an area of choice; e.g., the arts, educations, health or recreation. The Foundation awards grants to organizations within the specified field.
Scholarship Funds are established with strict guidelines and with a predetermined committee, within or outside the Foundation, to view nominations and recommend recipients.
Special Project Funds are short-term assets held for a specific purpose.
Donors place no restrictions on how these funds are to be used, giving the Foundation the greatest flexibility in making grants to address the community's most pressing needs.