How does a community foundation work? Generous donors make contributions, we invest those dollars to increase the giving power of our funds, and then we distribute the earnings in the community. The power of each contribution continuously expands.
Where does the money come from?
Contributions to the Community Foundation come from a diverse array of donors. Some donors give to existing funds; others choose to create new funds of their own.
Here are some examples of the kinds of contributions the Foundation receives, with figures from 2012-2013
A donor can leave an entire estate, a specific amount, or a percentage of an estate to the Community Foundation.
55 funds, $28,358,000
Community wide support:
Community members donate gifts to the Community Foundation that support a wide range of vital community projects and organizations.
70 funds, $4,917,000
Single donors, families or businesses:
A person, family or business may choose to create a fund at the Community Foundation as an easy-to-establish, low cost, flexible vehicle for charitable giving.
70 funds, $3,568,000
A nonprofit establishes a fund which has a principal that the organization has decided to permanently set aside for the long-term support and vision of the organization.
12 funds, $2,247,000
How is the money invested?
Contributions to the funds held by the Foundation are invested in a range of low-, medium- and high-volatility financial instruments. Our skilled investment committee carefully manages our portfolio, striving to achieve an average annual return of 7.5 percent. Of that return, 1 percent goes to management fees and 3 percent goes back to the funds for further growth. We distribute the remaining 3.5 percent in the form of grants and scholarshps.
How does it reach the community?
Through grants, money is distributed to non-profits who
- must be a registered 501(c)(3)
- offer creative responses to the communities most pressing needs
- increase access and opportunities for people from low-income or underserved segments
- involve cooperation and collaboration
- maximize impact of relatively modest grants
Our grants are competitive; we want to bring out the best in the community and what better way than award grants to non-profits with the most initiative to change the community for the better
Through scholarships created by businesses, families and individuals.
What does this look like in our community?
- 1151 students from the Addison Youth Center experienced local museums including the Corning Museum of Glass and Tanglewood Nature Center.
- 314 elderly individuals were provided with home services helping them to age-in-place.
- 10,244 students in grades PreK- 4 received on-site educational programs from the Rockwell Museum of Western Art
- 1,898 uninsured/underinsured individuals received critical services surrounding their medical and dental needs
- 1 commercial refrigerator, freezer and griddle were purchased for a volunteer fire department which serves as the hub of a small, river community
- 1 children's sensory trail was built to encourage a life-long love of the sights, smells, and sounds of nature
See the impact, scope and reach of the foundations giving through the interactive map from Philanthropy In/Sight®.