What is a Community Foundation?

Have you ever wondered what exactly a community foundation does? You’re in luck, as this article will give you a brief and informative perspective into our world.

A community foundation is a tax-exempt public charity that works with people who share a common interest in improving the quality of life in their geographic area. There are more than 800 community foundations in the U.S. The simplest way to think about a community foundation is as a local community’s charitable endowment – not one family’s money, like a private foundation, but charitable funds from many families and individuals, collectively managed and distributed by an organization.

While the work community foundations do can be complex, we wanted to share this article for a fresh and streamlined perspective. At Gulf Coast Community Foundation, together with our donors, we transform our region through bold and proactive philanthropy. We serve our communities and make grants to support our nonprofit partners. We are experts in helping donors achieve their philanthropic goals. And we are experts in our communities – connecting donors with the nonprofits that can help them transform lives. We prioritize impact and tackle real problems to create systemic solutions. We are also here now and in the future to make a lasting difference on our communities.

In general, a community foundation is a place where philanthropists come together to share great ideas about how to make our region better. A community foundation is a nonprofit that helps philanthropists have the biggest impact on their philanthropic dollars. Gulf Coast Community Foundation is a welcoming place and our professional team helps reflect that.

At Gulf Coast Community Foundation, we work with thousands of nonprofits. We work in the sectors of arts and culture, education, health and human services, civic and economic development, and the environment. We cast a very broad net when it comes to all the things we want to impact in our community.

What are the top three myths/misconceptions of a community foundation?

Many people don’t understand the difference between a community foundation and a private foundation. Fundamentally, there are some big differences that distinguish the two. A private foundation, which is usually set up by a single family or entity, rarely accepts outside donations, and has a unique set of tax rules, such as an annual payout requirement and a general prohibition on lobbying. A community foundation is a collection of charitable funds and considered a public charity operating by the same set of rules as any other charity.

Gulf Coast Community Foundation also does more than just awarding grants. We provide leadership in the community, leading with ideas and thoughts on how to make our region better. This enables us to leverage our philanthropy with government, business leaders, and other sectors to make it the best it can be.  

Often, something people don’t understand is how much fun it is to be a part of a community foundation. Once you are a part of it, you get ideas on how to make your impact greater. You meet terrific people who want to make a difference. You have a professional team that wants to help you.

We hope this article helped you to see all the facets of community foundations. Interested in learning more about us? Check out our entire website. We are here to help with any questions!