The Freeport Community Foundation in Freeport, Illinois, recently joined community foundations across the nation in observing Community Foundation Week - an initiative aimed at raising public awareness about the part foundations play in the civic and economic growth in the communities they serve.
“Community foundations impact lives, solve problems, and improve futures,” Freeport Chamber of Commerce Executive Director Daniel Schmitt said. “As many residents grapple with limited resources and a growing need for services, we are more determined than ever to bring our community partners together to find innovative and effective solutions for some of our most challenging social problems.”
Community foundations are charged with housing endowments used to fund projects, which are mainly related to health, civil services, human services, education and the arts. The foundations often oversee a number of grant and scholarship programs and are classified as independent public entities.
The funding from the endowments comes from donors, and often benefits local nonprofit agencies. Foundation staff work with donors and their families, going over estate and financial details to tailor appropriate plans.
To date in 2015, the Freeport Chamber of Commerce, which has been serving the Freeport community for more than four decades, has funded $74,000 worth of projects presented by agencies in northwest Illinois.
Community Foundation Week was designated in 1989 by former President George H.W. Bush. There is at least one community foundation in operation in each of the 50 states in the U.S.