What is A Community Foundation?
A Community Foundation’s main purpose is to foster and encourage people to be generous. How does a Community Foundation do this? By principally offering services to donors, and to the community as a whole, Community Foundations make setting up endowment funds simple and inexpensive.
The concept of Community Foundations started more than 100 years ago. Today, there are more than 750 Community Foundations across the country and more than 1,680 world-wide. The concept is simple: It is a means to build substantial endowment funds over time from donations of all sizes to support a community.
A Community foundation is a tax-exempt organization under Section 501 (c) (3) of the Internal Revenue Code, and is governed by a local board of directors chosen for their knowledge of our community and designed to be representative of a broad cross-section of the community. All contributions to the Community Foundation are tax deductible to the maximum amount allowable for gifts to a public charity.
Why consider Investing with NBCF
A community foundation offers many advantages to someone seeking a way to create or redirect a philanthropic effort.
Creating and maintaining a family or other private fund or foundation independently is expensive and time consuming. Creating a fund at a community foundation will reduce the time commitment needed and can lower the fund’s operational expenses.
A community foundation offers several benefits over other types of giving, including:
As a 501(c)(3) public charity, your gift receives the maximum tax deduction under current tax law.
A gift to the community foundation relieves the benefactor of administrative burdens and overhead expenses.
Capital gains tax cannot be levied on gifts to a community foundation.
How To Give
Benefactors can choose to give in one or more of the following ways: