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.
The above definition is from Wikipedia, the free
encyclopedia
Source:
http://en.wikipedia.org/wiki/Community_foundation
The following is a list
of community foundations in Mississippi:
CREATE Foundation, Inc.
Contact: Michael K. Clayborne, President
P.O. Box 1053
Tupelo, MS 38802-1053
Phone: (662) 844-8989 Fax: (662)
844-8149
Website:
http://www.createfoundation.com/
Community Foundation of East Mississippi
Contact: Roman Herrington, Executive Director
P.O. Box 865
Meridian, MS 39302-0865
Phone: (601) 581-8620 Fax: (601)
693-0464
Gulf Coast Community Foundation
Contact: H. Rodger Wilder, Executive Director
PO Box 2984
Gulfport, MS 39505
Phone: (228) 575-8380 Fax: (228)
436-0733
Email:
rwilder@mgccf.org
Website:
http://www.gulfcoastfoundation.org/
Greater Hattiesburg Community Foundation
114 Merianne Drive
Hattiesburg, MS 39402
Phone: (601) 264-2417 Fax: (601)
583-5325
Community Foundation of Greater Jackson
Contact: Linda B. Montgomery, President
525 East Capitol Street, Suite 5-B
Jackson, MS 39201-2702
Phone: (601) 974-6044 Fax: (601)
974-6045
Website:
http://www.cfgreaterjackson.org/
Lowndes Community Foundation
Columbus, MS 39703
Phone: (601) 328-4491
Foundation for the Mid South, Inc.
Contact: Ivye Allen, Ph.D., President
134 East Amite Street
Jackson, MS 39201
Phone: (601) 355-8167 Fax: (601)
355-6499
Email:
iallen@fndmidsouth.org
Website:
http://www.fndmidsouth.org/
Community Foundation of Northwest Mississippi
Contact: Thomas Franklin Pittman, President and CEO
321 Losher Street
Hernando, MS 38632-2124
Phone: (662) 449-5002 Fax: (662)
449-5006
Website:
http://www.cfnm.org/
West Point Community Foundation
204 Commerce
West Point, MS 39773