What is a Community Foundation?
Community foundations do this by helping individuals, families, and businesses establish charitable funds to which they may contribute a variety of assets. Grants are then made from these funds to nonprofit groups in order to meet the charitable goals of the donor. Donors and their families may be actively involved in the selection of the nonprofit groups. The grants can be made in the donor’s name or anonymously.
Community foundations have in-depth knowledge of their communities and remain alert to emerging needs in order to respond quickly and effectively. They convene groups including donors, nonprofit leaders and elected officials, to work together on community problem-solving. Community foundations foster greater giving and volunteering in our communities.
Community foundations have a long tradition of helping bring about thoughtful, effective change. The first one was started in 1914, and there are now nearly 700 throughout the United States.
Community vs. Private Foundation
Private foundations are a great community asset and are an ideal solution for some philanthropic individuals. For others, establishing a fund with the Community Foundation with fewer administrative hassles and lower operational costs is a more attractive alternative. You would be working with people that have a stated mission to help improve the opportunities and experiences of the Ogden Valley resident and visitor, and who share your vision and concerns for the future Ogden Valley.
Whether you want to leave a bequest in your will or be an active donor during your lifetime, there are many advantages to using the Community Foundation as a vehicle for your charitable giving. We can help you:
- Achieve your charitable goals efficiently and effectively;
- Save on administrative and legal costs;
- Avoid restrictions and potential penalties imposed on private foundations by the Internal Revenue Service;
- Achieve valuable tax savings;
- Help you build our community to be a better place for all;
- Leave a legacy for future generations;
- Preserve a place or property for others to enjoy;