“What is a Community Foundation?” I answer this question on a regular basis. The simple answer is, “we partner with donors to build better communities.” Here are additional details:
- There are 750 community foundations nationwide holding roughly $55 billion in assets; they make up one of the fastest growing sectors of philanthropy in the US today.
- Community foundations share the common goal of serving donors, nonprofit organizations, and the community as a whole. They serve as a vehicle for charitable giving through which individuals, families, corporations, non-profit organizations, and private foundations meet thier charitable objectives.
- Community foundations offer donors many services and benefits. They routinely work with families, individuals, attorneys, and estate and financial planners to design gift plans that fit every economic situation, ensuring that donors receive the most benefit from their charitable contributions and that their philanthropic dollars are used to the fullest extent.
- We work with our donors to make sure the Fund they establish meets their charitable wishes.
- Community foundations accept gifts of various sizes and types from private citizens, corporations, government agencies, and other foundations. Nearly every type of gift—including real estate, closely held stock, and artwork—can be contributed to a community foundation. Gifts are made from bequests and by living donors through various types of funds and deferred giving vehicles.
- Any individual can contribute any amount of money to the Community Foundation. The Foundation invests the gifts for growth and income and uses a payout amount to make grants that will strengthen the community. The donor may choose to stay actively involved with grant making or leave that function to the Foundation.
- Your local Community Foundation is governed by a local Board of Directors comprised of community leaders.
- Operating expenses are paid from individuals and corporations who have partnered with us and from management fees.
Overall, we provide a simple, flexible and cost-effective way for civic-minded people and businesses to contribute to their community – now and forever!
I thank our Board of Directors for their support, leadership, and dedication. In addition, I give much thanks to our Partners and Donors who have joined us in our philanthropic journey. Your commitment is our inspiration.
Theresa Erickson, Executive Director
Inspiring Charitable Giving…Investing In Our Communities.