Why People Love Community Foundations | The Long Island Community Foundation
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February 15, 2021   |   By the Long Island Community Foundation
Why People Love Community Foundations

by The New York Community Trust

Community foundations combine the generosity of many to support a geographic area. At The New York Community Trust, we focus on making life better for all in New York City, Westchester, and Long Island.

Most have broadly defined missions and make grants to local nonprofits. They bring grantees together to strengthen their communities and bring funders together to build power and resources to drive systemic improvements.

As public charities, community foundations like The New York Community Trust offer donors a way to give a wide range of assets in tax-saving ways that maximize the funding available to make a difference. 

Donors can create customized funds within these foundations, which offer a more practical, cost-effective, and well-staffed alternative to creating their own private foundations.

By pooling resources, community foundations offer economies of scale, investment expertise, and institutional wisdom to multiply the charitable impact of their donors. 

A BRIEF HISTORY OF COMMUNITY FOUNDATIONS

  • 1914: The first community foundation is created in Cleveland.
  • 1924: Bankers and donors create The New York Community Trust.
  • 1931: The Trust pioneers the nation’s first donor-advised fund.
  • 1975:  The Trust establishes the Westchester Community Foundation.
  • 1978:  The Trust establishes the Long Island Community Foundation.
  • 2020: Community foundations mobilize nearly $1.4 billion for COVID-19 relief nationwide.
  • TODAY: 750+ community foundations nationwide grant $8 billion annually.

 

Learn more about the impact of community foundations.

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Marie C. Smith
Director of Donor Relations and Communications
(631) 991-8800, ext. 223
msmith@licf.org

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Media Contact Information

Need help or advice?

Marie C. Smith
Director of Donor Relations and Communications
(631) 991-8800, ext. 223
msmith@licf.org

Get our media kit

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