We connect people who care with causes that matter

The Community Foundation of Lorain County is dedicated to enriching the lives of those living and working in Lorain County, Ohio.

Named Endowment Funds

How a Named Endowment Fund Works

  1. Donor makes a contribution to establish or augment the Fund & receives an income tax deduction.
  2. Foundation invests the Donor’s gift for minimal risk & maximum yield.
  3. Based upon the market value of the investment, the Foundation makes grants to support programs of local charitable agencies and takes a small fee to cover Foundation administrative costs and investment management fees. Any earnings in excess of the distribution are put back into the Fund to offset inflation and grow the Fund.
  4. The Fund is not a separate Trust and may receive additional contributions of any amount, at any time, by anyone.

Types of Funds That a Donor May Create

 If a donor wishes to establish their own Fund, they make a gift of at least $10,000, name the Fund and choose one of five types of Funds:

  1. Unrestricted Fund – Donor gives full discretion to the Foundation Trustees to make from the Fund grants that show the greatest promise or meet the community's most pressing needs.
  2. Field of Interest Fund – Donor specifies a broad area of interest in which grants from the Fund will always be made (e.g., education or environmental issues).
  3. Scholarship Fund – A special type of field of interest fund that requires a minimum donation of $25,000 and pays a 1.5% administrative fee.
  4. Donor Advised Fund – Donor takes an active role in the grantmaking activity by reviewing proposals and offering recommendations about which requests they would prefer to support; final responsibility for grantmaking rests with the Foundation Board.  This type of Fund offers the option of changing the area of interest to which grants from their Fund are made from year to year (e.g., immunizations one year and perhaps an artist-in-residence program for local schools the next).
  5. Designated Fund – Donor specifies the charitable agency to which grants will always be made (e.g., W.G. Nord Center, Red Cross, Neighborhood House Association, Linden School).

We believe in purposeful and collaborative community leadership.

We value excellence, which we define as providing the best service to all.

We believe access to the CFLC should be fair, inclusive, and equitable.

We provide a permanent instrument for receiving and managing charitable gifts and bequests.

We value integrity, which we define as always doing the right thing.

We exercise and promote leadership in meeting the changing needs and opportunities in the community.

We support innovative programs and act as a catalyst in identifying problems and sharing information with individuals, other foundations, and corporations.

We believe strategy, creativity, and adaptability are keys to thriving in a constantly changing world.

We believe integrity is our greatest asset and value trust earned with fiscal responsibility, ethical stewardship, and transparency

We work to mobilize individuals to become active partners in building a better community.

We value community, which we define as putting self aside for the betterment of the whole.

We believe the perpetuity of our efforts are linked to sustainable practices.

Through our efforts, the Foundation seeks to improve the quality of life and to instill a greater sense of unity in Lorain County.