Simply defined, it is a union of funds designed to accomplish the charitable wishes of donors. These funds are professionally managed and disbursed to charitable recipients in the manner recommended by donors. The special needs of donors and nonprofit organizations are met through various gift-giving mechanisms and bequests. Donors who contribute to community foundations are as diverse as the groups and individuals who benefit from the various grants and scholarships. All cultural, ethnic, and economic backgrounds come forward to make an investment that will be carried out both during and beyond their lifetimes.
Community foundations focus on nurturing and benefiting the local communities they serve.
Community foundations are unique in that they do not compete with other nonprofit organizations, but instead work to strengthen them by encouraging individuals to contribute charitable gifts for the long-term philanthropic good of the area. Whether supporting programs that ensure hot meals for needy children or addressing community economic concerns, community foundations respond quickly and specifically to needs that develop at the local level. Community Foundations are Permanent Community foundations are one of the most rapidly growing sectors of philanthropy in the United States today. Today there are more than 600 community foundations across the U.S., sixteen of which are located in New York. The Community Foundation for Greater Buffalo holds a rich legacy and is one of the oldest community foundations in the nation.