An umbrella organization that facilitates philanthropic activities across Carroll County, Community Foundation of Carroll County (CFCC) manages 8 million dollars in endowments, operating funds, scholarships, programs, and funds managed for non-profit organizations. Established in 1994, CFCC provides the legal underpinnings so that more than 320 projects, which are referred to as “Funds,” can focus on running their programs, for a 2% fee. The community foundation manages every incoming and outgoing donation, payment, scholarship, and grant. CFCC provides the structure, so the Funds can do the work they dream of. If it has a non-profit purpose, CFCC can be involved.
Community foundations are unique charitable organizations. The concept borrows the best characteristics of a private foundation:
By providing one central place where members of a community can establish charitable funds, the Community Foundation of Carroll County offers:
The Community Foundation of Carroll County is a public foundation dedicated to strengthening the community by meeting the needs of donors and nonprofits alike.
Through the Foundation’s management of charitable funds established by individuals like you, and through grants for community projects, the Foundation helps area nonprofit agencies:
A community foundation is a pool of many gifts, current or planned contributed by people of a particular community for the benefit of that community.
The Community Foundation of Carroll County, Inc. was established in 1994 to ensure financial support for Carroll County not-for-profit organizations. It is governed by a Board of Directors and is a 501c(3) public charity.
1. Donations. The Community Foundation receives donations from individuals, families, businesses, or organizations on behalf of the charitable causes under the foundation’s umbrella.
2. Fees. Individuals with a mission and a passion pay a percentage-based fee to the foundation for financial management, and a share of our 501(c)3 designation and board.
3. Fundraising. The Community Foundation offers giving opportunities to support the mission.
Yes, all gifts to the Community Foundation are tax-deductible to the fullest extent of charitable giving laws and regulations.
The Community Foundation of Carroll County charges a percentage-based fee for services to each Fund it manages. It also receives donations from donors designated for operating expenses. A special endowment fund called The Audrey Cimino Legacy Fund supports operations. Other endowment funds, which have gifts that are earmarked for charitable purposes, are never used for operating expenses.
A donor may make a gift or bequest of any size to the Community Foundation for the community’s benefit and the gift will be used according to the donor’s instructions. Some donors designate specific organizations to receive their money. Others limit their gifts to specific areas of concern. Many donors provide unrestricted gifts to be used in “areas of greatest need,” allowing the Community Foundation to respond to various community needs as they arise.
A professional investment manager safeguards and invests the Community Foundation’s funds. The Community Foundation’s Board of Directors sets the overall investment policy and monitors the performance of the investment manager. The Community Foundation’s accounts are audited annually by an independent auditor and are available for public review.
Allocations from the Community Foundation’s accounts are made by the Board of Directors, according to the agreement made between you the donor and the Community Foundation. Unrestricted donations are distributed to areas of greatest need in the community. Scholarships are awarded annually through an application and review process with consideration of specific scholarship guidelines.
We are Carroll! Since its inception, the Community Foundation has distributed more than five million dollars back to the community. At its core the Community Foundation of Carroll County partners caring people with charitable causes to enhance life in Carroll County now and for future generations.