The Community Foundation maintains two types of funds that make up the Common Good Funds—Unrestricted Funds and Field of Interest Funds.
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Unrestricted Fund: An unrestricted fund is the best way to give back to the greater Atlanta community in general rather than support a particular organization or cause. An unrestricted fund is a permanently endowed fund named by or for the donor. A sustainable percentage of the fund’s balance (traditionally 5%) is granted each year to charities in the Atlanta region that are selected by the governing Board of The Community Foundation through a competitive grants process supported by our professional grantmaking staff. An unrestricted fund is an effective way to leave a permanent named legacy for the greater Atlanta area that can adjust over time as the needs of the community change.
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Field of Interest Fund: A field of interest fund is similar to an unrestricted Fund in most respects, except that the grantmaking from the fund is limited to a particular cause or field (for example, health, education, homelessness) chosen by the donor.
The Common Good Funds are often the choice for donors who wish to leave a legacy through their will or estate plan to benefit the greater Atlanta community, but who do not have heirs that they wish to involve in grantmaking decisions after their death. Named Common Good Funds can be established with as little as $5,000 with a requirement that the fund size reach $50,000 by the third year. A field of interest fund to benefit a nonprofit field for which The Community Foundation does not already support a grants process must be approved by Foundation staff.