A community foundation is a public charity supported by many donors that typically focuses on benefiting a specific community. Community foundations usually have multiple types of funds, frequently including donor-advised funds.
- Potential immediate tax deduction, up to 50% of adjusted gross income for cash, 30% for long-term appreciated assets
- May eliminate capital gains tax for gifts of long-term appreciated assets
- May offer you grant-making direction, education and guidance
- Accepts many types of assets
A community foundation is a public charity supported by local donors and governed by a board of directors or trustees. These foundations are organized to support a variety of charitable organizations in a local community. Individuals, families, businesses and organizations create permanent charitable funds that help their community meet the challenges of changing times. The community foundation generally invests and administers these funds.