expendable fund

"It's about wanting something that you weren't able to have at a particular time, and now that you have expendable funds, you go out and get it."

The funds established at community foundations can be non-endowed or expendable funds (i.e., the corpus of the fund can be spent in its entirety) or they can be endowed, which limit distributions to the interest earned on the assets and/or the amount granted by the foundation as long as the corpus is not spent.