Types of Funds

Types of Funds Held by ACAF

Designated Fund: Established to benefit a specific organization (e.g., library, cemetery).


Donor-advised Fund: Donor may establish general criteria for awards and make recipient recommendations, which are non-binding, to ACAF.


Field-of Interest Fund: Support a general type of endeavor (e.g., local history, public health).


Non-endowed Fund: These are funded annually by donors.



Scholarship Fund: Donor may specify general criteria (e.g., high school, college, academic program) but not select recipient.

Unrestricted Fund: Grant funds with broad or non-specific criteria, giving ACAF flexibility to devote support to where it is most needed.

We generally suggest a minimum of $10,000 to establish an endowed fund but will start at a lower figure if the donor(s) show a solid commitment to build the fund over time.

News and Events

ACAF Spring 2025 Grants

By Bruce Campbell • June 30, 2025
Allegany County NY benefits from community foundation grants

Fillmore Central School Alumni Scholarship

March 18, 2025
Graduating classes pool leftover class gift funds to create an endowed scholarship.

Leadership and Innovation Fund

March 18, 2025
New Fund Will Boost ACAF Grantmaking

ACAF Grants Boost Libraries, Arts, and Wellness Programs

By ACAF • January 8, 2024
(Dec 2023) Alfred and Whitesville libraries, Fountain Arts Center, Allegany County Blind Association, Andover Central School, and Pioneer Oil Museum were awarded grants at the Allegany County Area Foundation’s (ACAF) December meeting. All grants were made through ACAF’s Allegany Fund unless otherwise noted. The Allegany County Blind Association received $500 to provide pre-school amblyopia screenings […] The post ACAF Grants Boost Libraries, Arts, and Wellness Programs appeared first on Allegany County Area Foundation.