Family of Funds
The Homer Foundation currently manages over 60 different charitable funds. There are five different types of funds from which to choose, and you may click each type to see the details of our funds:
- Homer Foundation Opportunity Fund: Formally known as the Unrestricted Fund, this fund provides maximum flexibility for the Foundation to meet changing community needs. Income and/or principal from this fund may be disbursed at the discretion of the Board of Trustees for community grantmaking, special projects, and the Foundation’s operating expenses.
- Donor Advised Funds: Permanent funds established by an individual, family, or business who wishes to participate as an adviser in the distribution of the fund’s income.
- Agency Endowment Funds: Permanent funds established for the benefit of 501(c)(3) charitable organizations, either by the organization or a donor. The Funds are managed by the Foundation with income distributed to the organizations annually.
- Field of Interest Funds: Permanent funds established to support a broad purpose or issue such as youth, arts, education, or human services. Income is distributed annually for each Fund.
- Scholarship Funds: Established to benefit a particular institution or field of study. The advisory committee, candidate selection process, and award use are outlined at the time the fund is established.
- Non-Endowed Funds: For individuals, groups, or organizations who are looking to make a difference in their community during their lifetime or a set period. A non-endowed fund can be responsive to immediate needs with the full value of the fund while participating in a managed portfolio.
- Homer Community Chest: Through our community partner, the Homer Community Food Pantry, the Foundation’s Homer Community Chest will provide emergency funding to support families and individuals in times of need.