Celebrating Community Foundations: 100 Years in America, 91 Years in Connecticut

Friday, May 2, 2014

Governor honors Community Foundations in Connecticut with Proclamation

HARFORD, CT – One hundred years ago, the community foundation concept was born in the Midwest, giving rise to a new philanthropy, a new way of participating in community, and a new vision for the future.

Governor Dannel P. Malloy honored and recognized Community Foundations in the state of Connecticut with a proclamation that was read at the Council's May 2, 2014 Annual Luncheon. You can read the full proclamation here.

“On the field’s 100th anniversary, we want to celebrate all the good work being done by community foundations throughout America and especially right here in Connecticut,” said Maggie Gunther Osborn, President of Connecticut Council for Philanthropy. In communities throughout the state, the generosity of countless donors and partner organizations continues to make life better for all of us.”

Today, there are 18 community foundations right here in Connecticut, part of more than 700 across the U.S. that invite everyday people with a vision and a passion for community to create something together, for good and forever. Nationwide, these organizations collectively manage more than $48 billion in assets and make grants of approximately $4.5 billion a year to improve life in their communities. This philanthropic model has spread beyond U.S. borders, with approximately 1,700 community foundations established worldwide.

Community foundations translate collective giving into big impact

Thanks to our community foundations, people in cities and towns throughout Connecticut can pool their charitable funds into community resources for the benefit of all. Community members from Andover to Woodstock have given $1.8 billion since the state’s first community foundation, Connecticut Community Foundation serving Greater Waterbury and the Litchfield Hills, was established in 1923.

These gifts build endowment funds that benefit their communities forever and help create personal legacies. When you contribute to an endowment managed by the community foundation in your town, your gift is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift—and all future earnings from your gift—is a permanent source of community capital, helping to do good work today and in the future.

Together, 18 community foundations in Connecticut have made grants of more than $87.9 million in grants in 2012. To access additional facts on community foundations in Connecticut and news and stories of their activities, visit the Council’s Connecticut Network of Community Foundations webpage.

Eleven of the community foundations in Connecticut meet the nation’s highest philanthropic standards for operational quality, integrity, transparency and accountability. The National Standards for U.S. Community Foundations Program requires community foundations to document our policies for donor services, investments, grantmaking and administration.

Community foundations are devoted to the people and places you love

In our state alone, billions of dollars are expected to transfer from one generation to the next during the next 50 years. The philanthropic opportunity during this transfer has the potential to improve the quality of life—in urban centers and small towns alike—through economic development, education, health, human services, environment, arts and culture. As place-based organizations that focus collective assets for good works, community foundations are helping people of all means give back and make a difference.

About the Connecticut Council for Philanthropy
The Connecticut Council for Philanthropy is an association of grantmakers committed to promoting and supporting effective philanthropy for the public good. With members representing 114 private and community foundations, federated funds, and corporate foundations and giving programs, the Council is Connecticut’s foremost resource on philanthropy. The organization benefits the larger grantmaking community, the nonprofit sector and the public in Connecticut.

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Contact:

Maggie Gunther Osborn
President
Connecticut Council for Philanthropy
mosborn@CTphilanthropy.org
860-525-5585

Website: www.CTphilanthropy.org