The Coastal Georgia Foundation is a tax-exempt public foundation created by and for the people in our local area. Community foundations enable people with philanthropic interests to easily and effectively support the issues they care about either immediately or through their estates. It also allows them to provide a regular, growing source of income for charities in perpetuity by the establishment of endowments.
How does it work?
Community foundations help individuals, families, and businesses establish charitable funds to which they may contribute a variety of assets (cash, appreciated stock, property, art, etc.). Those assets are managed and invested to grow, governed by a conservative Investment Policy adopted and ratified by the foundation's Board of Directors. Grants are then made from these funds to nonprofit agencies in order to meet the charitable goals of the donor, at the direction of the donor. Donors and their families are typically actively involved in the selection of the nonprofit agencies, but can also lean on the foundation's expert staff to help make these decisions. The grants can be made in the donor's name or anonymously.
Why work with a community foundation?
Community foundations have in-depth knowledge of their communities and remain alert to emergent needs in order to respond quickly and effectively. The Coastal Georgia Foundation convenes groups including donors, nonprofit leaders and elected officials, to work together on community problem-solving. Community foundations foster greater giving and volunteering in our communities. Because of this, community foundations have a long tradition of helping bring about thoughtful, effective change. The first one was founded in 1914, and there are now more than 700 throughout the United States as well as numerous foundations around the world. It is the fastest growing form of philanthropy in America.
Advantages of giving with a Community Foundation
- You can name your fund and designate its purpose in perpetuity
- You receive immediate tax benefits, even if you wait to recommend grants from the fund you established
- You receive guidance, information and advice on making your giving strategic and impactful
- Your fund benefits from professional financial stewardship
- You may engage family members in philanthropy and name a successor advisor
- You may give anonymously