Why a Community Foundation?
A community foundation is a public charity that receives contributions from a wide range of donors. Community foundations serve particular communities – communities of donors and communities of charitable need – typically with a geographic focus. Community foundations make grants to effective programs in their communities, which carry out the charitable purposes of the community foundations’ many funds and collectively meet the community’s needs.
There are several benefits to working with community foundations, including:
Knowledge of the Community – Because the community foundation is focused on the totality of a community’s needs, it can weave together broad-scale solutions from all its funds and test new approaches. And, the reason a community foundation can attack an issue from so many angles is because of the different funds it holds – for example, a fund for education, a fund for women and girls, a fund for job training – all rounded out by unrestricted dollars.
Succession – The community foundation can be the answer to that thorny question, “Who will run my private foundation when I’m gone?” A private foundation can be terminated into the community foundation, which will continue to make grants bearing the donor’s name. Similarly, a bequest to a community foundation can establish a fund in perpetuity.
Professional Staff – It’s too costly for family foundations that don’t have tens of millions of dollars in assets to hire professional staff to review proposals for grants, vet organizations, and meet administrative challenges of filings and tax reporting. The community foundation staff handles all of this and more.
Investing – Community foundations are skilled in investing assets, as well as seeking grant opportunities that mesh with donors’ interests.
Family – The community foundation can involve family members and introduce the next generation to the “ins and outs” of thoughtful grantmaking. In addition, if the next generation of family members has never worked together, community foundation staff can facilitate meetings and provide support to identify common philanthropic interests and goals.
Collaboration – Community foundations can and do bring various players together – funders, nonprofits, and government – for more effective grantmaking.
Rose Community Foundation has been enhancing the quality of life of the Greater Denver community through its leadership, resources, traditions and values since 1995. Learn more about why you should choose us. To discuss how we can support your philanthropy, please contact Vicki Dansky.