A Community Foundation improves lives, solves problems & creates futures…
A Community Foundation is a tax-exempt, 501(c)(3), charitable organization created by and for a community of people. It is supported by local donors and governed by a board of directors who work to build and strengthen their communities by bringing together people and organizations that want to positively improve lives, solve problems, and create futures by donating money and establishing funds.
Funds come from a variety of sources that include donations, bequests and living trusts. In turn, a Community Foundation invests contributed funds back into the community as grants to effect positive change and to help local nonprofits, which are at the heart of every strong, vibrant community.
Characteristics of a Community Foundation:
- Gives grants to support nonprofit organizations and community projects
- Operates from a broadly defined mission
- Serves geographically defined communities – a city, state, region, or district
- Receives support from private and public donors
- Seeks philanthropic contributions from within the community
- Builds capital endowments, an important element of sustainability
- Are governed by boards whose members reflect the diversity of their community