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FOR IMMEDIATE RELEASE Community Foundation of Ocala/Marion 324 SE 24th Street, Ocala, Florida, 34471 (352) 622-5020 www.ocalafoundation.org March 4, 2022 Ocala, Florida — The Community Foundation of Ocala/Marion is…
TUESDAY, FEBRUARY 1, 2022 — FOR IMMEDIATE RELEASE Lauren DeIorio, Executive Director Phone: (352) 622-5020 ext. 102 Email: Lauren@OcalaFoundation.org Community Foundation Awards $32,000 in Muns Nursing Scholarships Ocala, Fla (February 1,…
Living Through Giving October 2021 – October brings the culmination of all the Community Foundation’s hard work these past few months.
January 5, 2022 — FOR IMMEDIATE RELEASE CONTACT: Lauren Deiorio, President & Executive Director Phone: (352) 622-5020 ext. 102 Email: Lauren@ocalafoundation.org Community Foundation for Ocala/Marion County Welcomes New Staff Member Ashley Wheeler-Gerds…
FRIDAY, DECEMBER 3, 2021 — FOR IMMEDIATE RELEASE Lauren DeIorio, President & Executive Director Phone: (352) 622-5020 ext. 102 Email: Lauren@OcalaFoundation.org Four Leaders Join the Community Foundation for Ocala/Marion County Board…
Lauren DeIorio, Executive Director Phone: (352) 622-5020 ext. 102 Email: Lauren@OcalaFoundation.org STUDENTS GIVE $3,000 IN GRANTS TO SIX LOCAL CHARITIES THROUGH PHILANTHROPY PROGRAM Ocala, FL (December 1st, 2021) – Six awards of…
A community foundation is a tax exempt, nonprofit, publicly supported organization that empowers donors to strengthen their community, one passion at a time. The common mission of every community foundation is to enhance the quality of life in the local area. Building permanent endowment funds and using a portion of the annual income, community foundations support a variety of local nonprofits through grants and special projects.
A community foundation is governed by a board of community leaders and is administered by professional staff. Operating expenses are paid from a modest annual fund fee – 1% of fund balance – and from gifts designated by donors to cover foundation operating and program costs. The community foundation adheres to an investment policy established and approved by its Board of Directors.
We offer the best tax advantages for charitable donations available under law. As a publicly supported nonprofit, 501C3 organization, we are able to offer greater tax advantages than a private foundation.
All community foundations are independently organized and operated. There are 32 community foundations in Florida. Just as we serve Marion County, each community foundation is defined in part by serving a specific geographic area.
Generally, a gift of $5,000 is required to establish an active fund. There are higher minimums for certain types of funds such as scholarships. Funds can be established with a smaller gift and a pledge to reach the minimum requirement within five years. No grants or scholarships will be distributed from the fund until the minimum requirement is met.
Outright gifts of cash, real estate, securities and/or personal property can be donated. You may also make a bequest by will/trust, life insurance or retirement plan assets.
The community foundation’s mission is very broad, allowing for flexibility to partner with a variety of nonprofits to meet the giving interests of a wide group of donors. Area nonprofits benefit from having a local community foundation because the community foundation helps money stay in a community. Community foundations benefit local nonprofits by managing an endowment on their own behalf. We call such funds “agency endowment funds.”
Both organizations are important resources to Marion County. Some have described the differences by suggesting the United Way is more like the community’s checkbook, raising and distributing money annually, while the Foundation is more like a charitable savings account, distributing grants from a long-term fund in perpetuity. The United Way focuses on education, financial stability and health, while the Foundation’s scope of funding is much broader and includes working in areas such as economic development, education, the environment, community betterment, the arts and culture, animal needs as well as health and human services. Community foundations also focus on attracting and managing permanent endowments for nonprofits. Locally, the Community Foundation views the United Way as a tremendous partner in strengthening Ocala/Marion County.
Our Community Foundation offers two primary benefits:
We help raise the level of local giving, keeping more charitable dollars in the local community. It is our aim to build a local source of charitable capital that will become a steady, long-term resource for Marion County.
We help to ensure that charitable endowment gifts given to help our community will remain effective and relevant overlong periods of time. Even as local needs and giving opportunities change, a community foundation is able to adapt charitable funds to find relevance in a changing community.