What is a Community Foundation?
A community foundation is a tax–exempt, nonprofit, autonomous, publicly supported, nonsectarian philanthropic institution with a long–term goal of building permanent, named component funds established by many separate donors to carry out their charitable interests and for the broad–based charitable interest of and for the benefit of residents of a defined geographic area, typically no larger than a state.
Community foundations are conveners and leaders in their communities – they help identify solutions to community issues then leverage the resources of individuals, families, and businesses to support projects and initiatives led by high-impact local nonprofits. Community foundations pursue the long-term goals of:
- BUILDING permanent, component funds established by many separate donors to carry out charitable interests;
- SUPPORTING broad-based charitable interests and benefitting the residents of a defined geographic area; and
- SERVING in leadership roles on important community issues.
A community foundation: