What We Do
A community foundation is a collection of individual charitable funds and resources in a permanent endowment that enhance and support the quality of life in a community through grants, scholarships, gifts and awards.
A community foundation accumulates assets in charitable funds through a broad base of contributions from the general public and uses these assets to support charitable and public activities that improve the communityís quality of life and meet local needs.
- It is tax-exempt and can receive gifts from individuals, corporations, and other organizations.
- Income from the endowment is used to make grants to projects and organizations that benefit the community. A community foundation helps respond to emerging problems and opportunities, as well as prepare for the future.
- Contributions to a community foundation receive the most favorable tax treatment possible.
A community foundation is also a collection of endowed funds established by a community consisting of many different types of donors.
- Many people form charitable funds within a community foundation to accomplish their civic or charitable objectives.
- Many people contribute to community foundation charitable funds to accomplish estate and tax planning objectives.
- Many organizations receive grants and gifts from a community foundationís endowment and charitable funds.
The Community Foundation of Greater Muscatine is an accredited public charity.
- Individuals, families, businesses, and organizations create permanent charitable funds that help our community meet the challenges of changing times.
- A foundation is a collection of funds whose assets provide support for many charitable organizations and programs.
The Mission of the Community Foundation of Greater Muscatine is to actively work to improve the quality of life in Muscatine County through philanthropy.
- The IRS has determined that the Foundation is a permanent public charity.
- The Iowa Department of Economic Development has recognized the Foundation as a qualified community foundation.
- It complies with the standards and practices of the National Council on Foundations.
- It is audited by certified public accountants and its records are available for public inspection.
- It publishes and annual report and provides monthly accounting reports to component fund managers.
- It provides continuity of financial records and accounting to non-profit and charitable organizations.
- Build a substantial endowment to provide for community needs for generations to come.
- Serve donors' needs by providing flexible, convenient and cost-effective means to achieve charitable giving goals.
- Educate the public about charitable giving strategies and encourage inclusion of charitable giving in wills.
- Promote philanthropy in the service area.
- Provide a neutral place for collaboration of community improvement initiatives.
Last Updated Tuesday, June 14 2011 @ 09:06 AM GMT+5; 11,817 Hits