When most of us think of philanthropy, we picture huge family foundations or national organizations. The American Red Cross has been a part of my life since I was ten; my single mother could barely keep food on the table while working for them, but until the day she died, she couldn’t imagine doing any other work. But my wife Carmen’s job has introduced me to a very different type of philanthropy: community foundations.
Recently, I had the opportunity to attend three community celebrations of giving with Carmen. She may as well be retired. Her job and her joy is to support community foundations in building their local “now and forever” fund and giving across our vast state. She loves her work and the people she works with. She also supports me in my love of writing. I try to celebrate her commitment to her work by traveling to those communities with her. It is both heartening and inspirational, and leaves me hopeful.
Across the country (and the world) there are literally hundreds of community foundations, small and large, managed by both volunteers and staff who coordinate giving from members of the community, steward those endowed funds, then distribute the earnings from those funds to meet local needs. Among the programs receiving funds at the celebrations we attended were for the refurbishment of a little league field, support for the library, support to the food bank, social programs that help single mothers, substance abuse recovery group programs and projects that improve public hiking trails and parks.
These local grants work wonders in the communities. These local foundations are led by volunteer advisory boards with one very part time staff member. They know and love their community, and can advise where even a small amount of funds can make a big impact. As they grow the principal balance of their funds, they can make an even greater impact and offer more help. The key to the community foundation model is growing the endowed funds.
At a recent celebration, I listened to a giving presentation that made a lot of sense to me. Simply stated, it asked for a commitment from community members to leave 5% of their estate to do good work in the future. For those whose liquid estate is mostly life insurance, this is especially easy and painless. I thought a lot about that 5% number. My kids can certainly lead successful lives with 5% less inheritance. Even with our current personally directed giving program, coordinated through the statewide community umbrella foundation, with inflation alone, our estate is increasing. Five percent is the least we owe to our state and community for the remarkable life it has allowed.
So, my recommendation is to explore your local community foundation. Become a volunteer. Become a donor. Consider pledging 5% of your life insurance or your total estate to help grow your community foundation’s fund and their ability to help the community. It is one of the real feel good things we can do to make better communities.