Funds currently on hand as of May 13, 2022 shall be handled per the below recommendations as well.

Absent Specific Donor or Donor Instructions future funds received and entrusted to the Jackson Community Foundation shall be segregated and overseen as follows:

• 5% of all funds received shall be set aside in the Foundation Checking Account for use as operating, administering, fund raising, or any other annual recurring obligation of the foundation and not used immediately as charitable funds.  A decision could be made by the Board of Directors (The Board) to use some of these funds for either current spending or endowment purpose. This account shall be known as the Operating Fund.
• 25% of all funds received shall be set aside in the Foundation Money Market Account for current use in awarding funds for grants and or other charitable projects as approved by the Board of Directors under our existing purpose statement.  Any monies in this account that are not spent each year shall be retained in this same account for future projects and are to be spent. This account shall be known as the Current Spending Fund.
• 70% of all funds shall be Invested per the Investment Policy Statement with annual distributions made to the Current Spending Fund.  This Fund shall be known as the Endowment Fund.