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Fall 2004 / Winter 2005VALLEY OPPORTUNITIES Volume 2, Issue 2A Community NewsletterINSIDE Valley Community Foundation Philanthropy Page 1 The Search for Scholarships Page 2 United Valley Libraries
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Community foundations are nonprofit organizations that invest and distribute funds to support charitable activities in a specific geographic area. They have the potential to create positive change and impact within their communities.
Community foundations are required to file annual reports with the appropriate regulatory authorities, such as the Internal Revenue Service (IRS) in the United States.
Community foundations must gather financial information, programmatic data, and other relevant details to accurately complete the required forms and reports.
The purpose of community foundations is to provide a vehicle for individuals, families, and organizations to support charitable causes and organizations in their local communities.
Information typically reported on community foundation filings includes financial statements, grant distributions, investment activities, and governance structure.
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