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Community Foundations are only for the
rich. Community Foundations were actually originally
created and exist today to give people of all economic levels
the same opportunities afforded only to the wealthy in the
past: The ability to set aside a sum of money that will yield
income perpetually to be used for charitable purposes. Community
Foundations are administered by a volunteer Board of Directors
who strive to represent the community’s best interests. |
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Community Foundations duplicate the work of other national
and local charities. The truth about Community
Foundations is that they actually complement the work of other
charities. Most charities depend on regular income from
annual campaigns to fund operations. Community Foundations
represent the community “savings account” that
can provide funding for the entire non-profit sector. They
are not tied to a specific program but rather seek to serve
the entire community. |
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Community Foundations are expensive to operate. On
the contrary, Community Foundations are structured to provide
economies of scale. By co-mingling the gifts of many people
for management purposes, operating expenses are kept to a minimum. |
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Community Foundations support only special interests. In
actuality Community Foundations serve a broad range of interests
and reflect the wishes, needs and convictions of the entire community. Anyone
is welcome to establish a Fund with his or her particular interests
in mind or to give to the Community or Unrestricted Fund from
which grants are given to support a variety of local charities
and projects. |
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Community Foundations are like private foundations. Community
Foundations are, in fact, quite different from private foundations
by law and by governance. Community Foundations are classified
by tax law as public charities. Therefore, Community Foundations
can provide donors with the maximum tax advantage for gifts. |
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