Types of Funds

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.

The Community Fund for Poweshiek County

Click here to view a list of Community Fund Charter Members.

o We need your help to build a community endowment fund that will support the community needs in Greater Poweshiek County in perpetuity.
o Individuals can give as little as $100 a year for ten years.
o Couples can give $200 a year for ten years.
o Your pledge along with the pledges of 1000 other donors will grow the Community Fund to over one million dollars in ten years and these gifts will never be spent!

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.

Designated Funds at GPCF
Anna Marie Emry Endowed Fund
Connie Marshall Administrative Endowment Fund
Dr. Kevin W. Sterk Elementary Student Needs Endowment Fund
Drake Community Library Endowment Fund
Greater Poweshiek Community Foundation Administrative Fund (non-endowed)
Grinnell Historical Museum Endowment Fund
Grinnell Regional Medical Center Endowment Fund
Lutheran Services in Iowa Endowment Fund

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.

Field of Interest Funds at GPCF
Doupnik/Hawkins Family Music Fund
Kate & Chuck DeLong Memorial Fund
Lydia Reida Science Fund
Shaeffer Award for Theater Arts

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.

Agency Funds at GPCF

Drake Community Library Endowment Fund
Grinnell Area Arts Council Endowment Fund
Grinnell-Newburg Dollars for Scholars Endowment Fund
Grinnell-Newburg Dollars for Scholars Operating Fund
Grinnell-Newburg Educational Excellence (GNEE) Endowment Fund
Grinnell-Newburg Educational Excellence (GNEE) Mini Grant Fund
Imagine Grinnell Endowment Fund
Imagine Grinnell Membership
Iowa Transportation Museum Endowment Fund
Mayflower Human Needs Endowment Fund

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 $10,000. 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.

Scholarship Funds at GPCF
Adelberg Family Scholarship*
Audrey Griffith Scholarship
Audrey Pederson Scholarship
Dr. Kevin W. Sterk Scholarship
Fitzgerald Family Scholarship
Green Futures Fund
Grinnell-Newburg Dollars For Scholars Scholarship*
Grinnell Pizza Ranch Scholarship
Hilke Family Scholarship Fund
Iowa Telecom Scholarship
John Kintzinger Memorial Scholarship
Kalleen Buchmeier Memorial Scholarship*
Kenneth J. Benda Scholarship
Kurth Science Scholarship
Lance Reimers Memorial Fund*
Leroy Schneider Memorial Scholarship
Lincoln Savings Bank Scholarship
McCormick Scholarship Fund*
MD & RE Bahr Scholarship*
Nathan Figland Memorial Wrestling Scholarship*
Newburg Alumni Scholarship
Nicole Kelling Memorial Scholarship
Peak Fund
Praestantia Scholarship
Rachel & Richard Sanders Scholarship*
Reida Scholarship*
Renaud Fund*
Ronald Graham Memorial Scholarship*
Scandrett Scholarship Fund*
Sid Potts Scholarship Fund*
Vivian G. Craig Music Scholarship*
Wells Fargo Scholarship
Whitetail Scholarship

*indicates an endowed scholarship

Capital Campaigns

Drake Community Library
Grinnell Mutual Aquatic Center
Second Mile
Station Clubhouse