Community Foundations

The first community foundation was founded in 1914 in Cleveland, Ohio. Today, more than 650 community foundations across the United States hold more than $35 billion in combined assets, and contribute more than $2.6 billion in local grants to nonprofit organizations and others every year.

Each community foundation is made up of a collection of charitable funds established by various donors, then pooled and invested together so that the income provides a steady resource for the community. Each community foundation is independent and reflects the community it serves.

A community foundation is both permanent and flexible. Many charitable foundations are established to address one issue, but community foundations are set up to focus on an entire community or region. As the community changes, the foundation responds to the changes, and will always be there to support the community.

Those who conduct their charitable giving through a community foundation can make contributions for the general benefit of the community, or designate their funds for special purposes. Donors can contribute to local, national, and, often, even international organizations.

Investment of the funds held by a community foundation is managed by professional institutional investors, while grants are approved by a group of knowledgeable citizens representing the public interest.