{"id":81,"date":"2018-09-13T10:20:08","date_gmt":"2018-09-13T15:20:08","guid":{"rendered":"https:\/\/pbaf.org\/?page_id=81"},"modified":"2021-08-02T09:33:02","modified_gmt":"2021-08-02T14:33:02","slug":"what-is-a-community-foundation","status":"publish","type":"page","link":"https:\/\/pbaf.org\/about-us\/what-is-a-community-foundation\/","title":{"rendered":"What is a Community Foundation?"},"content":{"rendered":"\n\n\t<p>A community foundation is a tax-exempt public charity, commonly referred to as a 501(c)(3) &#8211; a nonprofit. Contributions to a community foundation are tax-deductible to the fullest extent of the law. Today, Permian Basin Area Foundation is one of approximately 700 community foundations in the United States.<\/p>\n<p>The first community foundation was founded in 1914, when Cleveland banker Frederick Goff created an organization that would manage permanent funds for charitably-minded citizens and, on their behalf, distribute grants to help local causes. Community foundations spread coast to coast as the virtues of Goff&#8217;s concept became evident to civic leaders. Today, there are nearly 700 community foundations across the U.S. with assets of approximately $50 billion under stewardship.<\/p>\n<p>A community foundation is a permanent philanthropic endowment.\u00a0 As a grantmaking organization, it brings together the financial resources of individuals, families, and businesses to support worthy endeavors of nonprofits in a specific geographic area.\u00a0 In addition, a community foundation uses these financial resources to support scholarship opportunities for deserving students.<\/p>\n<h2>\n\t\tA Community Foundation:\n\t<\/h2>\n\t<ul>\n\t\t<li>\t\t\t\t\n\t\t<h3><\/h3><p>Demonstrates a comprehensive understanding of local community needs<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Focuses on grantmaking to local nonprofit organizations<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Stewards permanent endowed funds that include donor advised funds, scholarship funds, agency funds, field of interest funds, funds for geographic affiliates and undesignated funds<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Invests permanent funds for long-term, risk-averse performance<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Ensures maximum tax benefits for charitable gifts<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Offers personalized service to donors in assisting them with charitable decisions<\/p><\/li><li>\t\t\t\t\n\t\t<h3><\/h3><p>Is led by community leaders with extensive knowledge of the region and experience in law, finance, institutional management and philanthropy<\/p><\/li>\t<\/ul>\n<h3>\n\t\tTell me more.\n\t<\/h3>\n\n","protected":false},"excerpt":{"rendered":"<p>A community foundation is a tax-exempt public charity, commonly referred to as a 501(c)(3) &#8211; a nonprofit. Contributions to a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":8,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width-with-title.php","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/pages\/81"}],"collection":[{"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/comments?post=81"}],"version-history":[{"count":0,"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/pages\/81\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/pages\/8"}],"wp:attachment":[{"href":"https:\/\/pbaf.org\/wp-json\/wp\/v2\/media?parent=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}