What is a Community Foundation?
We’re a community foundation, a tax-exempt public charity that enables people like you to establish charitable funds or to help you give to local organizations who may not be able to accept charitable gifts due to not having a “tax exempt” status. As the assets of the community foundation grow over time grants will be awarded from your fund to support local nonprofit organizations, in accordance with your interests. When charitable minded people like you seek suitable ways to give, we can help you make a difference.
All funds are managed by the Community Foundation of West Plains investment team. As an affiliate of the Community Foundation of the Ozarks, we will have all the advantages available to a large regional foundation. All assets are subject to audit and annual confirmation
by the external audit firm of the Foundation.
Like all community foundations, we are overseen by a volunteer board of leading citizens and run by professionals with expertise in knowing our community’s needs. We go beyond simply making grants that advance charities: we also identify emerging issues, stimulate recourses to address those needs and help our region prepare for the future.
The current board is made up of local civic organization leaders including the West Plains Rotary Club, Sunrise Rotary Club, Lions Club of West Plains, and the West Plains Chamber of Commerce.
An
Endowment Fund is a permanent fund; the principal is never spent. Grants
for charitable purposes are made from annual earnings. A fund may be
established within the Community Foundation of West Plains by an individual,
a family, a corporation, or an organization. Individuals establish funds
by bequest or during their lifetime. There is no minimum requirement
for starting a fund, but a fund must reach a minimum of $10,000 within
five years to be a separate, named fund with the Foundation. Four types
of endowment funds exist:
1.
Unrestricted Funds. Our children and grandchildren
can be provided for through the generosity of today's donors who recognize
that future needs of the community cannot be anticipated at the time
an endowment fund is established. An unrestricted fund, the most flexible
type, empowers the CFWP to make grants to the most important qualifying
needs of the community as they arise.
We
know our community. When you choose to invest in the future of our community,
you want to work with someone who knows the territory. The broad cross
section of leaders who guide our work lends valuable insight that will
help your charitable giving achieve maximum results.
