Why is the Community Foundation the fastest growing segment of Philanthropy?
The concept of “community foundations” was introduced around 1914. Originally they were created as a collection of charitable funds that served a specific geographic community, primarily funding issues that improved the “community” of people in that particular region. Today, there are close to 600 community foundations across the US that have $15 billion in combined assets and contribute more than $1 billion to nonprofit organizations every year. A community foundation acts very much like a mutual fund. It is made up of a collection of charitable funds that are established by various donors. These funds or “pools of money” serve the different wishes of the donors. The donor can make contributions for the general benefit of the “community” or they may designate their funds for specific purposes. Examples of these funds include Discretionary Funds, Donor Advised Funds, Field of Interest Funds, Donor Designated Funds, and others.Many charitable organizations address one issue. However, th
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