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Each community foundation is made of up a collection of charitable funds established by various donors, then pooled and invested by professional managers so the income provides an ongoing, steady resource for community giving. As the needs of community change, the foundation responds accordingly.
Those who conduct their charitable giving through a community foundation can make contributions for the general benefit of the community, as guided by the foundation, or designate their funds for specific purposes. Donors can contribute to local, national and international causes through their community foundation. There are no geographic boundaries to the term “community.”
There are more than 600 community foundations in the U.S. with more than $15 billion in combined assets, contributing more than $1 billion per year to not-for-profit organizations.
Compliance
The Minneapolis Foundation is Confirmed in Compliance with the National Standards for U.S. Community Foundations.
The Minneapolis Foundation was the first community foundation in Minnesota to be recognized as Compliant with the Council of Foundations' National Standards for U.S. Community Foundation.
The standards were created in 2000 to help community foundations establish and maintain legal, ethical, and effective operational practices to ensure transparency and financial responsibility. To attain recognition for compliance, community foundations undergo a rigorous evaluation process that addresses the following 43 national standards. The standards are organized in the following six areas:
- Mission, Structure, and Board Governance
- Resource Development
- Stewardship and Accountability
- Grantmaking and Community Leadership
- Donor Relations
- Communications
Memberships
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