Community foundations
are instruments of
civil society designed to pool donations into a
coordinated investment and grant making facility
dedicated primarily to the social improvement
of a given place.
Families, individuals,
businesses, and nonprofit groups establish funds within
community foundations into which they can contribute a
variety of assets to be used for charitable purposes.
The people or organizations that establish the funds can
then recommend that grants be distributed, in the name
of the fund or anonymously, to qualified nonprofit
groups and schools. The donor receives a charitable
deduction in the year that gifts are made into their
funds.
The assets of community
foundations are pooled and invested, with donors
typically having a choice of investment products.
The funds established
at community foundations can be expendable funds (i.e.,
grants can be made in any amount at any time) or they
can be endowments, which limit distributions to the
interest earned on the assets. Endowments last in
perpetuity.
The first community
foundation was set up in
Cleveland in 1914 by Frederick Goff and operating
now as the
Cleveland Foundation. Others soon followed including
the
California Community Foundation and the
Chicago Community Trust.
Community foundations
are now a global phenomenon. There are at least 700 in
the United States and perhaps 1000 more around the world
with numbers
growing rapidly.
Central Minnesota Community Foundation
Contact: Steven R. Joul, President
101 Seventh Avenue, Suite 100
St. Cloud, MN 56301-4275
Phone: (320) 253-4380 Fax: (320) 240-9215
Website:
http://www.communitygiving.org/
Cook County Community Fund
c/o Duluth-Superior Area Community Foundation
Medical Arts Building
324 West Superior Street Suite 212
Duluth, MN 55802
Phone: (218) 726-0232
Website:
http://www.dsacommunityfoundation.com/
Grand Rapids Area Community
Foundation (MN)
Contact: Wendy Roy , Executive Director
201 NW Fourth Street
Central Square Mall
Grand Rapids, MN 55744-2753
Phone: (218) 327-8855 Fax: (218) 327-8856
Website:
http://www.gracf.org/
Hermantown Community Fund
c/o Duluth-Superior Area Community Foundation
324 West Superior Street Suite 212
Duluth, MN 55802
Website:
http://www.dsacommunityfoundation.com/
Initiative Foundation
Contact: Kathy Gaalswyk, President
405 First Street, SE
Little Falls, MN 56345-3007
Phone: (320) 632-9255 Fax: (320) 632-9258
Email:
kgaalswyk@ifound.org
Website:
http://www.ifound.org/
The Minneapolis Foundation
Contact: Karen Kelley-Ariwoola, Interim President & CEO
800 IDS Center
80 South Eighth Street
Minneapolis, MN 55402-2100
Phone: (612) 672-3878 Fax: (612) 672-3846
Website:
http://www.minneapolisfoundation.org/
Minnesota Community Foundation
Contact: Judi Dutcher, President, Minnesota Community Foundation
55 5th Street East
Fifth Street Center, Suite 600
Saint Paul, MN 55101-2701
Phone: (612) 224-5463 Fax: (651) 224-9502
Website:
http://www.mncommunityfoundation.org/
North Suburban Community Foundation
3422 Chandler Road
Saint Paul, MN 55126
Phone: (651) 633-3623
Northwest Minnesota Foundation
Contact: John Ostrem, President
4225 Technology Drive, NW
Bemidji, MN 56601-5118
Phone: (218) 759-2057 Fax: (218) 759-2328
Email:
johno@nwmf.org
Website:
http://www.nwmf.org/home.php
The Rochester Area Foundation
(MN)
Contact: Steve Thornton, Executive Director
2200 2nd St. SW, Suite 300
Rochester, MN 55902
Phone: (507) 282-0203 Fax: (507) 282-4938
Email:
steve@rochesterarea.org
Website:
http://www.rochesterarea.org/
The Saint Paul Foundation
Contact: Carleen K. Rhodes, President
55 East Fifth Street, Suite 600
Saint Paul, MN 55101-1797
Phone: (651) 224-5463 Fax: (651) 224-8123
Website:
http://www.saintpaulfoundation.org/
Southwest Initiative Foundation Contact: Sherry Elise Ristau, President
15 3rd Avenue PO Box 428 Hutchinson, MN 55350-3801 Phone: (320) 587-4848 Fax: (320) 587-3838
St. Anthony Park Community
Foundation
Contact: Jon Schumacher, Executive Director
P.O. Box 8038
Saint Paul, MN 55108
Phone: (651) 641-1455
Two Harbors Area Fund
c/o Duluth-Superior Area Community Foundation
324 West Superior Street Suite 212
Duluth, MN 55802
Website:
http://www.dsacommunityfoundation.com/
The Virginia Community
Foundation (MN)
Contact: Linda Niskanen, Executive Director
P.O. Box 559
Virginia, MN 55792-0559
Phone: (218) 749-8239 Fax: (218) 749-8239
Website:
http://www.virginiafoundation.com/
Walker Area Foundation
Contact: James E. Lohr, Chairman
P.O. Box 624
Walker, MN 56484-0624
Phone: (218) 547-3421
Wayzata Community Foundation
603 Lake Street E.
Suite 200B
Wayzata, MN 55391-1767
West Central Initiative
Contact: Nancy Straw, President
1000 Western Avenue
Fergus Falls, MN 56537-4805
Phone: (218) 739-2239 Fax: (218) 739-5381
Website:
http://www.wcif.org
Winona Community Foundation
Contact: Lisa R. Fakler, President
51 E. Fourth Street, Suite 314
Winona, MN 55987-3507
Phone: (507) 454-6511 Fax: (507) 454-0441
Website:
http://www.winonacommunityfoundation.org/
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