What is a Community Foundation?
The Community Foundation of the Dan River Region is an independent, public charity established in September 1996 by a steering committee of local civic leaders to gather permanent funds to support our area.
The Foundation serves a region in Virginia from Martinsville/Henry County through Danville/Pittsylvania County to South Boston/Halifax County, including Caswell County and the neighboring North Carolina counties.
Community foundations are established to manage a collection of separate funds created by individuals and corporations – a community of donors – to enhance the quality of life in a local area. These funds are pooled and invested under the direction of a board of directors comprised of community leaders. Income from the funds is distributed in the form of grants and scholarships. The first community foundation was created in 1914 in Cleveland, Ohio. There are now approximately 700 community foundations nationwide, controlling aggregate assets worth over $25 billion. Community foundations are the fastest growing form of philanthropy in America today and often are in the vanguard of charitable giving.
The Community Foundation is fully tax-exempt as an organization described in Sections 501(c)(3) and 170(b)(A)(vi) of the Internal Revenue Code.
To recognize needs and provide resources to improve the quality of life in our community and to serve the wishes of our donors.
To improve and enrich the lives of people in our community by encouraging the generosity of donors; by receiving, managing and distributing important resources; and by meeting a variety of charitable purposes in our community.
Hear this 5 minute overview of The Community Foundation by Debra Dodson, Executive Director