What is a Community Foundation?
A community foundation is a charitable non-profit organization that serves as a charitable link between donors and the local community to improve and develop the quality of life in a specific geographic location by focusing on the unique needs and goals of the community.
To address these various demands, a community foundation will receive donations from individuals, families, businesses, and other organizations and efficiently distribute the funds to local nonprofits, community projects, and other initiatives.
The IRS recognizes community foundations as public charities because they receive support from the general public and their boards and committees represent the areas served by the foundation.
A key feature of community foundations is the ability to build and manage endowment funds. Endowment funds are permanent investment funds that generate income to help charitable activities and projects over a perpetual period. Using professional advice, guidance, and expertise, community foundations can be continual and sustainable funding sources for various initiatives such as education, healthcare, arts and culture, social services, community advocacy, and environmental conservation.
Community foundations also play a vital role in community leadership and collaboration. By bringing together various stakeholders, including nonprofits, government agencies, and local residents, community foundations act as catalysts that encourage collaboration, address community needs, set priorities, and develop strategies to reach charitable goals. Additionally, community foundations offer expertise and resources to maximize the impact of these charitable activities and help other nonprofits become more effective and efficient.
Taos Community Foundation is your community’s trusted philanthropic partner, committed to nurturing philanthropy, fostering collaboration, and supporting initiatives that improve the well-being and vitality of Taos and surrounding communities.