FAQ

 

What is a “Community Foundation?”

How do community foundations operate?

What is the Woodbury Community Foundation’s mission and vision?

How does the Woodbury Community Foundation work in the community?

How is the Foundation’s endowment invested?

How can I invest in/contribute to the Woodbury Community Foundation?

What types of funds are available?

What is a “Community Foundation?”

A community foundation is a nonprofit charitable organization created by and for the people of a community to help donors give generously to those in need. Community foundations manage donors’ financial gifts according to their wishes and distribute investment proceeds through grants to support local communities and regional issues. The real power of a community foundation is its ability to foster a sense of unity and bring people together toward a common mission.

How do community foundations operate?

Established as public charities, community foundations operate as 501(c)(3) nonprofit organizations and are publicly accountable. Gifts made to community foundations are tax-deductible. The Woodbury Community Foundation is one of more than 600 community foundations nationwide that receives contributions from individuals and organizations and makes grants to meet current and emerging community needs. Grants from the Foundation’s endowment (permanent funds) are made through a formal grant application process and are approved by the Foundation’s board of directors once a year.

What is the Woodbury Community Foundation’s mission and vision?

Our mission is to connect people and organizations with causes that matter in order to strengthen our community for the benefit of all. Our vision is to ensure that our community is a premier and caring place to live, work, and play.

How does the Woodbury Community Foundation work in the community?

Our board is comprised of active, involved leaders in the community who have a solid understanding of Woodbury’s nonprofit resources and needs. We have the unique role of convening community discussion around areas of need, providing funding, and encouraging and participating in community initiatives and partnerships to address these needs.

How is the Foundation’s endowment invested?

Endowment funds are carefully invested to protect the principle and ensure a safe and reasonable rate of return.

How can I invest in/contribute to the Woodbury Community Foundation?

• Cash or check (3- to 5-year pledges welcomed)

• Publicly-traded stocks, bonds or securities

• Real estate or interest in residences or farms

• Life insurance beneficiary

• Charitable bequests through a will

• Charitable remainder trusts

• Matching gifts

What types of funds are available?

• Unrestricted – The donor allows the WCF board of directors to determine the best use of the funds based on the need at the time of the gift.

• Operations – Donations that support the annual administration of the WCF.

• Unrestricted Endowment Fund – A fund directed to the endowment in which the donor allows the WCF board of directors to determine the best use of the proceeds of the funds based on the interest areas specified in the grant guidelines.

• Field-of-Interest Fund – An endowed fund where the donor directs proceeds to one of the interest funds specified in the grant guidelines.

• Agency Endowment Fund – An endowed fund established by a designated nonprofit organization.

• Administrative Endowment Fund – An endowed fund where donations support the perpetual operations of the WCF.

 

Leave a Reply

Your email address will not be published. Required fields are marked *