A community foundation is a collection of individual funds and resources given by local citizens to enhance and support the quality of life in their community. It is a tax-exempt public charity that receives gifts from individuals, corporations, and other organizations to create many permanent endowed funds within the foundation. These gifts are carefully invested for maximum return and growth. Income from this endowment is used to make grants to projects and organizations that benefit the community as determined by the foundation's board and donors. Thus a community foundation can help a community respond to emerging problems and opportunities, as well as prepare for its future. |
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