WHAT IS THE COMMUNITY FOUNDATION?
A community foundation is a vehicle for people of all means to make a lasting difference in the community causes they care about. Established in 1990, the Community Foundation of Bloomington and Monroe County is governed by an active volunteer board of directors and operated by a five-person professional staff. It administers more than 150 funds and manages grantmaking programs. Our Community Foundation was recently recognized for its compliance with the Indiana and national standards for community foundations.

HOW DOES THE COMMUNITY FOUNDATION OF BLOOMINGTON AND MONROE COUNTY DIFFER FROM A PRIVATE FOUNDATION?
Community foundations offer a vast knowledge of the area served, in addition to the benefits of lower administrative fees and access to finance, grantmaking and development resources. The Community Foundation is a public charity that relies on donations from individuals, families, businesses and other non-profit organizations. Community foundations also accept a wider variety of assets, including cash, appreciated property, appreciated stock, bequests, retirement assets, life income plans and life insurance.

WHAT TYPES OF FUNDS CAN BE ESTABLISHED?
The Community Foundation administers more than 150 funds.  Unrestricted Funds enable the Community Foundation to meet ever-changing community needs through responsive and proactive grant programs, while Field of Interest Funds address needs in an important area of community life, such as arts, children or education. Donations to Agency or Designated Funds may benefit one or more specific agencies, while Donor Advised Funds involve donors in awarding grants annually. Finally, Scholarship Funds help local graduates pursue higher education.

WHAT IS THE COMMUNITY FOUNDATION’S DISTRIBUTION POLICY?
The Community Foundation uses a rolling, eight-quarter average to determine a payout of up to 5 percent of appreciation paid out annually. Donors and agencies also have the option to pay out portion of income only. The objectives of the Community Foundation’s distribution policy are to  preserve endowment, generate consistent payout and maximize long-term return for grantmaking.

WHAT TYPE OF GRANT APPLICATION OPPORTUNITIES DOES THE COMMUNITY FOUNDATION OFFER?
The Open Grant Cycle will take place in the fall, effective September, 2007. The Precision Health Network Grant cycle, designed to develop and enhance community health education and outcomes continues to hold its application cycle in the spring. Precision Health Network grants are available to applicants serving Monroe, Lawrence, Brown, Greene, Morgan, Orange, Martin and Daviess counties. Since 1991, the Community Foundation has helped award more than $13 million in grant monies, enabling local non-profit agencies to maintain and enhance services and programs that are vital to the quality of life in Monroe County. Priority is given to projects that reach a broad segment of the community, assist citizens whose needs are not being met by existing services, are innovative and meet changing needs, increase non-profit agencies’ effectiveness and efficiency and encourage matching gifts or additional funding.

WHAT TYPES OF CHARITIES RECEIVE GRANTS?
Most grants awarded through funds at the Community Foundation are made to organizations official 501 (c) (3) public charities. If youur group does not meet that guideline, you may apply with the help of a fiscal agent. It is possible, in very rare circumstances, for funds to be awarded directly to a grassroots group or other entity. Please contact us if you have questions.

HOW ARE COMMUNITY FOUNDATION INVESTMENTS MANAGED?
The Community Foundation of Bloomington and Monroe County maintains more than $22 million in assets, including a $15 million investment portfolio that supports grantmaking. A record $621,000 was approved for granting in fiscal year 2007. The portfolio is managed by Oxford Financial Group, an independent investment advisor, and monitored by the Community Foundation’s Finance and Investment Committee.

Endowment dollars are pooled for investment purposes, then tracked on a fund basis.  Investments in the portfolio are diversified across asset classes and management styles, in order to grow the fund through a total return approach (interest, dividends and capital appreciation). It is the aim of the Community Foundation to maximize the return of the investment portfolio within reasonable and prudent levels of risk. More information, including performance compared to benchmarks, is available on the Investment Program page of the Community Foundation’s web site.

HOW DOES THE COMMUNITY FOUNDATION IMPACT BLOOMINGTON AND MONROE COUNTY?
The Community Foundation aids a healthy non-profit sector in many ways, including:
›           responsive grantmaking – fund local needs, partner with effective agencies, and encourage collaboration across agencies
›           non-profit infrastructure –supports Non-Profit Alliance, including co-sponsoring trainings for agency staff and volunteers
›           donor education – link caring people with community needs and raise awareness of effective giving 
›           cooperation among funders – CF works with United Way, BAAC, City, and County; also outside funders such as Lilly Endowment, Kellogg Foundation, other CFs
›           agency endowment funds – provide effective management and support to agencies, donors and those who advise them

WHY WORK WITH THE COMMUNITY FOUNDATION INSTEAD OF ESTABLISHING MY OWN PRIVATE FOUNDATION?
There are significant tax advantages to establishing a supporting organization or a donor-advised fund at the Community Foundation. A Community Foundation can also relieve you of the administrative burden of a private foundation and provide you a trusted partner in philanthropy.

WHAT IS THE MINIMUM SIZE OF A PERMANENTLY ENDOWED FUND?
A fund must reach $10,000 within five years if established by an agency, or reach $10,000 within ten years ($5,000 for named unrestricted funds) if established by an individual or family as part of the Acorn Giving program. Except for named unrestricted funds, the earnings from which are pooled with those from our general unrestricted fund, grants are not awarded until a fund reaches the minimum size. All grants from a fund—today and in the future—are awarded to charities in the name of the fund. It’s a great way to always be involved with and remembered for your community investment.

CAN I MAKE DONATIONS ONLINE?
The Community Foundation has teamed up with JustGive.org to provide a safe, secure and private platform by which donors may make online contributions using their Visa, Mastercard, American Express or Discover credit card.

If you have further questions about the Community Foundation, please contact us.