What is a Community Foundation?
Community Foundations in Australia
Community foundations are a relatively new way of approaching philanthropy in Australia. They provide a philanthropic resource to pool bequests from wills and collect donations from the wider community, allowing more people to become involved in philanthropy. Community foundations work in specific geographic areas with a particular focus on their local community.
Members of the community are invited to contribute to a community foundation by either supporting the general corpus, or by setting up their own named funds which allow them to direct their donations to an eligible cause or organisation of their choosing.
The Inner North Community Foundation provides an opportunity for residents to participate in local philanthropy, give where they live,and see the results in their suburbs and neighbourhoods.
How does the Inner North Community Foundation work?
The Inner North Community Foundation is a perpetual resource for our community. Donations improve social outcomes for a diverse range of local people and causes long after they are made. The donations build a capital base that is invested and income from these investments is returned to the community through grant rounds, like the Pathways to Employment grant round.
The Inner North Community Foundation uses its grant-making expertise and in-depth knowledge of community issues to fund community projects. Through our funded projects we reach many people beyond our immediate grantees each year – whether it be through an Anti-Racism Action Band performance in Melbourne’s Federation Square, a Sprout Community Market in Thornbury, or a function catered for by the CERES Seven Stars.
A Perpetual Resource
The perpetual nature of a community foundation will allow the Inner North Community Foundation to support the local community for many years to come through responsible investment of funds which will grow and benefit the community over time.