What is the difference between a private, family foundation and a community foundation?
Many people don’t realize that a community foundation offers an easier alternative to establishing a private family foundation. Setting up a fund has an extremely short turn-around time, as little as one day. The foundation handles screening for grants, and all reporting requirements. Donors may choose to leave their funds dormant in a given year, as the foundation does not have the payout requirements of a family foundation. Finally, a community foundation enjoys all the tax advantages of a public charity with the lasting quality of a private foundation.