The Battle Creek Community Foundation works hard to provide flexibility to our donors and make the process of establishing a fund an easy one. Our staff members are committed to helping donors establish a fund that best meets their charitable needs.
There are different types of funds available at the BCCF to address a variety of philanthropic interests and opportunities. Each fund type has slightly different guidelines to best support the charitable purpose of the fund.
Endowment Fund Types
Unrestricted Funds 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 the community foundation’s program experts to respond to the community’s most pressing needs, today and tomorrow. The Fund for Battle Creek is our primary unrestricted fund.
For Scholarship Funds, the donor may establish a Scholarship Selection Committee, as long as the donor and related parties do not comprise a majority of committee members, or a Scholarship Committee within the Community Foundation may assume this responsibility.
Any amount over the initial $10,000 fund minimum may be used for grantmaking, as long as a balance of $10,000 is always maintained. Scholarships may not be awarded from Donor Advised Funds.
A second generation of advisors may be named by the donor.
This type of fund is a great way to stay involved in the use of your gift and to introduce families to philanthropy!
These funds hold and manage assets for charitable organizations. Local organizations can support their long-term objectives by creating an Organizational Endowment Fund with the Battle Creek Community Foundation. With an Organizational Endowment Named Fund, an individual can help support the long-term objectives of the organization and allows the donor’s name to be attached to the name of the fund.
More About Funds
General Information Regarding Endowed Funds
- Donors can select the fund name and the focus area for recognition fund and awarding criteria for other endowed funds.
- A fund agreement is established to define the intent and purpose of each fund.
- Fund statements are provided quarterly.
- Online giving is available for all funds, and all funds are listed on BCCF’s website.
- As a 501(c)(3) tax-exempt public charity, most donations to BCCF are tax-exempt, allowing maximum tax advantages to donors.
- BCCF staff are available to assist in developing strategies to maximize the fund’s impact on meeting community needs.
Endowed Fund Minimums
A fund may be established with as little as $100, as long as there is the intent to build the fund to the required minimum fund level. Once the minimum fund level is achieved, grants or scholarships may be made from the fund, depending on the fund type.
Minimum Fund Levels
- Unrestricted (Named) Funds: $10,000
- Community Impact Field of Interest Funds: $25,000
- Community Impact Recognition Funds: $5,000
- Scholarship Funds: $25,000
- Scholarship Recognition Fund: $10,000
- Donor Advised Funds: $10,000
- Organizational Endowment Funds: $5,000
- Organizational Named Endowment Funds: $10,000
Spending Policy
Battle Creek Community Foundation’s spending policy determines how much of a fund’s assets may be distributed through grants or scholarships on an annual basis. The spending policy, along with the Foundation’s investment objectives are designed to preserve the original gift value of the fund, help the fund grow and provide funds for grantmaking.
Currently, BCCF has a 4% spending policy, based on a 16-quarter rolling average of the fund’s value. This figure is designed to enable the endowment fund to grow in an “up market” – and conversely will provide your organization with a steady stream of income in a “down market.”
Administrative Fees
| Fund Type and Description | Fee |
| Unrestricted Funds (named) | 2% |
| Donor Advised Funds (DAF) | 1.5% |
| Field of Interest Funds (FOI) | 2% |
| Scholarship Funds | 2% |
| Organizational Endowment Funds | 1% |
| Named Organizational Endowment Funds | 1% |
| Organizational Support Funds | 1% |
| Note: Investment Returns are net of Investment Manager Fees, which are assessed as a percentage of total market value. Fund may also be charged for direct costs incurred by the fund, such as appraisal fees, legal fees and probate cost. | |
Investment of Funds
There are now more than 1,000 separate funds managed by the Battle Creek Community Foundation. As stewards of these funds, the Battle Creek Community Foundation converts contributions into community betterment. The Community Foundation uses a sound investment strategy designed to maintain the principal balance, those gifts and contributions received from the public, while maximizing the return on these investments for grantmaking and future growth purposes.
In this manner, endowment gifts become expressions of caring that keep on giving forever.
All of the endowment funds of the Battle Creek Community Foundation are pooled for investment purposes. They are carefully, expertly, and responsibly managed in a balanced portfolio.
A consistent and complete review of the management and allocation of the Community Foundation resources is one of the highest priorities of operating the Battle Creek Community Foundation as a public trust on behalf of the donors and citizens of this community. It is a responsibility that is taken with the greatest sense of seriousness and professionalism.
The names of investment managers, fees charged, (including investment and administrative fees), governing body or appointees responsible for investment oversight and investment are available upon request.
Ready to get started?
Let’s talk about your goals and the best way BCCF can help.