Current Fund Options:
Presently, the Three Lakes Community Foundation has two funds:
- Endowment Fund:
This is a restricted fund. The principal is not to be withdrawn but held in perpetuity. However, up to 5% (the assumed annual earnings on it) may be transferred to the Current Fund for granting under the Boardís direction. The long-term purpose is to have the endowmentís value grow, thereby growing the 5% annual payout limit and allowing for greater giving along with fund perpetuity.
- Current Fund:
This fundís principal and its earnings is available immediately for grants, programs and expenses of the funds at the direction of the Three Lakes Community Foundation Board.
Future Funds Options:
- Project Funds:
The Board or donors may in the future wish to set aside funds specific to or restricted for certain major projects. If the Board authorizes a fund or funds for this use, it will announce the details and inform all members.
- Establish a Donor-Restricted Fund:
If a donor cares to establish a donor- named restricted fund over which they or their heirs can designate the beneficiaries of grants from income or principal to qualified charitable organizations, the Board will work with the donor and the Community Foundation of North Central Wisconsin to help accommodate the donorís wishes.