An agency fund is a type of designated fund established by an organization at a community foundation for the charity's benefit or the benefit of a related entity. That is, the donor or resource provider and the beneficiary or recipient organization is the same entity.  Public charities under Section 509(a)(1), 509(a)(2), or 509(a)(3) are eligible to establish agency funds at the Greater Grand Island Community Foundation. For example, a local homeless shelter transfers funds to a community foundation to establish a fund that will provide annual distributions to the shelter to support its operating budget. The Foundation invests the funds, fiduciary responsibility for the funds, and can make distributions to the organization based on the Foundations' current spending policy.  

The Greater Grand Island Community Foundation also offers Agency Flex Funds, which allow organizations to maintain liquidity in the funds they have while investing them. Organizations find this to be a great way to keep an operating reserve fund or board designated fund. The Foundation can offer investment services as well as oversight to make sure the board's wishes are upheld years down the road.

Organizations with Agency Funds housed at Greater Grand Island Community Foundation: