Why give to a Community Foundation?
Community foundations are tax-exempt charitable organizations described in Internal Revenue Code Section 501(c)(3). Community foundations are established to meet the charitable needs of a local community.
Donors receive the most advantageous tax incentives for donating to a community foundation as a community foundation is classified as a public charity by the Internal Revenue Service. Therefore, the higher annual deduction limits and favorable valuation methods are available.
By coordinating donations from a wide range of sources and evaluating the most critical needs in our area, a community foundation can become a catalyst of local improvement. Donors know that their contributions are making an immediate impact on their community. Donors benefit from the flexibility, involvement, and recognition of a private foundation, but with the tax advantages and simplicity of a community foundation.
We encourage you to expect the highest standards from charitable organizations, and we remain committed to exceeding your expectations.
The exciting aspect of community foundations and the main reason they are supported is their ability to respond to changing conditions, quickly enough to be effective, but always reflecting the objectives of the Donor. As a neutral, nonpartisan entity, the Foundation can often serve, as a catalyst to support existing charitable causes and spearhead new projects that meet critical community needs.
Are there other community foundations?
The first community foundation was established in Cleveland in 1914. Today, there are more than 600 locally controlled community foundations in the United States. Because of their rapid growth, they have been called the "fastest growing sector in American philanthropy today."
What is a Community Foundation?
A community foundation is a philanthropic pool, where many charitable gifts are placed with others so individual gifts can do more for the needs of the community. It provides a focal point for lifetime, memorial, testamentary and philanthropic gifts that might otherwise leave Escambia County. By combining gifts, contributions to the Foundation can often be invested more prudently. In addition, donors receive the maximum tax benefits allowed by law for charitable contributions.
Is Greater Escambia Community Foundation a “charity”?
Yes. GECF is a charitable organization under the tax code and invites public support of its operating costs. However, our primary role is to encourage and administer philanthropy to benefit effective programming, projects, and existing charities throughout the community. People give through GEC to the community.
