• Unrestricted Funds
  The donor makes a gift and elects the Greater Poweshiek Community Foundation (GPCF) to choose the most appropriate uses for the funds. Because community needs vary over time, unrestricted funds provide important flexibility to adapt to changing needs.
  
  Anyone can make an unrestricted gift. There are no size restrictions. Gifts may be made in honor or in memory of family or friends.
  
  
• Designated Funds
  These are funds dedicated to one or more specific charitable program or project. GPCF has received endowed funds designated for school programs in science, art, music and theater. Some scholarship funds have been designated for students pursuing study in engineering, agriculture, education and banking.
  
  
• Field of Interest Funds
  These funds focus on particular areas rather than specific programs or organizations. For example: A field of interest fund could direct grants be made to healthcare, public parks or help for the needy. Guided by the donor's field of interest, GPCF uses its knowledge of the community to direct grants where they will be most beneficial in the area specified.
  
  
• Donor Advised Funds
  The donor reserves the right to recommend the organizations and projects to receive grants from his/her fund. While the GPCF has final authority to approve or disapprove recommendations, donor's wishes are rarely rejected and then only for legal reasons. This type of fund allows donors to involve their children in the grant making process. It provides donors with the alternative to a private foundation.
  
  
• Agency Funds
  A non-profit organization can create a fund within the Community Foundation to carry out its charitable purpose. By pooling their funds with GPCF a nonprofit organization eliminates many of the requirements for reporting and record keeping while gaining the economics of scale.
  
  Currently, the GPCF manages the assets for the Grinnell High School Alumni Association, Community for Literate Iowa Kids (CLIK), the Grinnell-Newburg Dollars for Scholars, the Grinnell-Newburg Educational Excellence, the Grinnell Public Library Building Fund, Iowa Transportation Museum Endowment, and Kids Against Hunger, Grinnell Chapter.
  
  
• Scholarships
  Scholarships are generally of two types: endowed and non-endowed. An endowed fund is a permanent fund that is invested for growth and income. Only a percentage of the fund is spent each year for scholarships. The criteria used to determine the percentage will include preservation of principal and protection from the long-term effects of inflation. A non-endowed fund is expended immediately or over several years.
  
  In association with the Grinnell-Newburg Dollars for Scholars Chapter, GPCF can assist donors in setting up, administering and managing scholarships for graduates of Grinnell-Newburg High School.
  
  The partnership between Greater Poweshiek Community Foundation and Grinnell-Newburg Dollars for Scholars started in 1998. In the past nine years, 747 scholarships have been awarded to local high school students.
  
  The money for these scholarships has been raised from local individuals, businesses and from a nationwide solicitation of high school alumni.
  
  Several endowed scholarships have been established by individuals/families and named in honor or in memory of loved ones. The minimum amount needed to set up an endowed scholarship is $5,000. It is not necessary, however, that an endowed scholarship be created in a single year. Multiple year gifts are gratefully accepted. Most of the current endowed scholarships are $10,000 or more.
  
  

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