Community foundation

From Wikipedia, the free encyclopedia

Community foundations are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place.

Families, individuals, businesses, and nonprofit groups establish funds within community foundations into which they can contribute a variety of assets to be used for charitable purposes. The people or organizations that establish the funds can then recommend that grants be distributed, in the name of the fund or anonymously, to qualified nonprofit groups and schools. The donor receives a charitable deduction in the year that gifts are made into their funds.

The assets of community foundations are pooled and invested, with donors typically having a choice of investment products.

The funds established at community foundations can be expendable funds (i.e., grants can be made in any amount at any time) or they can be endowments, which limit distributions to the interest earned on the assets. Endowments last in perpetuity.

The first community foundation was set up in Cleveland in 1914 by Frederick Goff and operating now as the Cleveland Foundation. Others soon followed including the California Community Foundation and the Chicago Community Trust.

Community foundations are now a global phenomenon. There are at least 700 in the United States and perhaps 1000 more around the world with numbers growing rapidly.

Contents 1 See also 2 Some notable community foundations 2.1 International 2.2 United States 2.3 United Kingdom 3 Key supporters of community foundations 4 Specialized community foundations 5 External links 6 Publications

[edit] See also

• civil society
• charities
• foundations
• endowments
• nonprofit management
• public administration
• social innovation

[edit] Some notable community foundations

[edit] International

• The Social Capital Foundation

[edit] United States

• Tulsa Community Foundation
• New Hampshire Charitable Foundation
• New York Community Trust
• Cleveland Foundation
• Baton Rouge Area Foundation
• Chicago Community Trust
• Communities Foundation of Texas
• Marin Community Foundation
• Greater Kansas City Community Foundation
• Columbus Foundation and Affiliated Organizations
• California Community Foundation
• Community Foundation Silicon Valley
• San Francisco Foundation
• Oregon Community Foundation
• Boston Foundation, Inc.
• Grand Rapids Community Foundation
• Central Indiana Community Foundation
• Greater Cincinnati Foundation
• Community Foundation of Louisville
• Dayton Foundation

[edit] United Kingdom

• York and North Yorkshire Community Foundation

[edit] Key supporters of community foundations

• Bertelsmann Foundation
• Charles Stewart Mott Foundation
• Ford Foundation
• Fondazione Cariplo
• Grand Victoria Foundation
• Kansas Health Foundation
• W.K. Kellogg Foundation
• Lilly Endowment

[edit] Specialized community foundations

• Richmond Jewish Foundation

[edit] External links

• Armstrong County Community Foundation
• Foundation Center
• Luzerne Foundation

[edit] Publications

Bernholz. L., K. Fulton, and G. Kasper. (2005). “On the brink of new promise: The future of U.S. community foundations.” Trade report. Funded by Charles S. Mott Foundation and the Ford Foundation.

Gast, E. (2006). Community foundation handbook: What you need to know. New York: Council on Foundations.

Hall, P.D. (1989). “The community foundation in America, 1914-1987.” In Richard Magat, ed., Philanthropic Giving. New York: Oxford University Press.

Hammack, D. (1989). “Community foundations: The delicate question of purpose,” in Magat, R., ed. An agile servant: Community leadership by community foundations. New York: The Foundation Center.

Magat, R., ed. (1989). An agile servant: Community leadership by community foundations. New York: The Foundation Center.