Community Foundations

FAQ

What is a community foundation?
A community foundation is a collection of individual funds and endowments given by local citizens and organizations to enhance and support the quality of life in their community.  It is a tax exempt public charity that allows many individuals, through gifts and bequests, to establish permanent endowment funds within the confines of one large foundation. Other Questions?

What does a community foundation do?
 A community foundation is a nonprofit organization that receives gifts from individuals, organizations and companies; invests those gifts; and then disburses the proceeds as grants to charitable nonprofit agencies and programs to meet the needs of the community. Finally, community foundations provide philanthropic resource leadership and help create and promote efforts to improve the quality of life in the community.

Donors do not donate to a community foundation, but through us to support the causes they believe in by establishing scholarship funds, donor-advised funds, field of interest funds, special interest funds or permanently endowed funds that will benefit our community forever. Other Questions?

What community does it serve?
The Community Foundation generally serves Greeley, Colorado and Weld County in northeastern Colorado. Other Questions?

Is The Community Foundation a national or local group?
The Community Foundation is completely autonomous and decisions are made locally.  The Foundation is a member of the Council on Foundations and can use the Council as a resource on policy, legal and tax questions.  There are nearly 700 Community Foundations nationally, and they are the fastest growing philanthropic organization in the United States.  The first community foundation was founded in 1914.  The Community Foundation Serving Greeley and Weld County was organized in 1995, after the merger of the Greeley Area Foundation and the Weld Community Foundation into a single organization. Other Questions?

Is the Community Foundation in competition with other nonprofits?
Rather than being an "end user" of charitable dollars, the Community Foundation is primarily a service provider designed to enhance philanthropy and to give leadership to the community. A fund established at the Community Foundation will ultimately benefit some other charitable organization. The Community Foundation is not in competition with other nonprofits, including the handful of larger nonprofits in our region that have their own foundations. In fact, the Community Foundation has made millions of dollars in grants to area nonprofits, from universities and hospitals to small grass roots organizations. Other Questions?

How is the Community Foundation different from commercial gift funds?
The Community Foundation offers more charitable products and choices, often for smaller service charges, than commercial gift funds. The Foundation also offers the local, professional expertise of its staff to help you connect with the community causes you care about. Other Questions?

What is the advantage of a community foundation over a private foundation?
A Gift Fund at the Foundation is less costly (both time and money) to establish than a private foundation. It can be done in a matter of days, and the Foundation handles all the administrative details. Establishing a private foundation can take months and you are responsible for substantial legal, accounting, and operational matters. For a more detailed comparison, click here. Other Questions?

How do I get started?
Contact your professional advisor or the Community Foundation staff to discuss the assets and type of gift fund that best suits your charitable interests and financial situation. You can reach the Community Foundation at (970) 304-9970. Other Questions?