The first community foundation, founded in 1914 in Cleveland, Ohio, was created to assure that clients leaving money would do so in a way that would meet the continually changing needs of the community.  Community foundations on the whole hold approximately $31 billion in combined assets and make local grants of approximately $2.6 billion annually.  The concept is also rapidly expanding worldwide with over 365 community foundations in 37 countries outside the U.S.

Community foundations enable donors to achieve their personal giving goals in support of the local community, as the directors and board members of these organizations are typically seasoned professionals who live in the area, and maintain detailed knowledge of a region’s needs and its nonprofit organizations.  Donors can receive advice regarding how best to achieve their objectives and they can outsource the entire giving process in a way that saves substantial time and money.  The community foundation’s abilities to manage complex financial philanthropic initiatives, and identify cross-fertilization opportunities across town borders, make it an extremely appealing option for community giving.