Community foundations are the fastest growing segment of philanthropy in the United States. The first community foundation was founded in 1914 in Cleveland. Today, more than 600 community foundations across the United States have over $15 billion in combined assets, and contribute more than $1 billion to nonprofit organizations every year.

Each community foundation is made up of a collection of charitable funds established by various donors. The funds are then pooled and invested together so that the income provides a steady resource for the community.

A community foundation is both permanent and flexible. Many charitable funds are set up to address one issue; but community foundations are set up to focus on an entire community or region. As the community changes, the foundation responds to the changes and will always be there to support the community.