I've worked for a community foundation in Indiana. When setting up the foundation, a certain amount of money can be put aside to give grants immediately and the rest of the money is "endowed" and managed by an investment group or board of trustees. They take the profits to use as the "grants". In order to receive a grant, you must apply/comply with a certain criteria. This, of course, is decided by the board. The one I worked for only gave to non-profits for their use in helping the community. It is a great way to help without it being a "handout" to just anyone. At this time of all the uncertainty, giving whatever we can to help others is always a good thing.
|