Celebrating Community Foundations:
100 Years in America, 98 Years in Indiana
Indianapolis, IN (February 25, 2014) – A resolution honoring Indiana’s community foundations and the field’s centennial anniversary was adopted yesterday by the Indiana Senate. “On the field’s 100th anniversary, we want to celebrate all the good work being done by community foundations throughout America and especially right here in Indiana,” said Senator Randy Head (R) from Logansport, who offered the resolution. “In communities throughout the state, the generosity of countless donors and partner organizations continues to make life better for all of us.”
One hundred years ago, the community foundation concept was born in Cleveland, Ohio, giving rise to a new philanthropy, a new way of participating in community, and a new vision for the future. The community foundation field has since grown to more than 800 in the country.
The first community foundation in Indiana was established in Indianapolis in 1916, and Indiana has had more growth than any other state, thanks in part to an effort launched 23 years ago by Lilly Endowment Inc. to strengthen and
expand the growth of community foundations in the state. In 1990, fewer than a dozen viable community foundations dotted the Indiana landscape, with combined assets of about $100 million. Today there are 94 community foundations and county affiliate funds serving every county in the state, inviting everyday people with a vision and a passion for community to create something together: For good. Forever.
Community foundations translate collective giving into big impact
Community members across the state have helped Indiana’s community foundations build a combined $2 billion in managed assets statewide. These gifts build endowment funds that benefit their communities forever and help create personal legacies. When someone contributes to an endowment managed by the community foundation in his or her home town, the gift is invested over time. “Thanks to our community foundations, people in cities and towns throughout Indiana can pool their charitable funds into community resources for the benefit of all,” said Marissa Manlove, President and CEO of Indiana Philanthropy Alliance.
Earnings from that fund are used to make grants addressing community needs. Each gift—and all future earnings from the gift—is a permanent source of community capital, helping to do good work today and
in the future. In 2012 alone, Indiana’s community foundations collectively made grants of approximately $117 million to improve life in their communities. “Community foundations are local nonprofit organizations run and led by local residents who have an in-depth understanding of the issues, opportunities and resources that shape their community,” added Manlove. “Indiana’s community foundations are collectively among the largest instruments for community good in the country.”
The Noble County Community Foundation is now 22 years old and has assets of $24 million dollars. “In the very beginning in 1991, we were blessed with Lilly and Dekko matching funds to start our community foundation. We know that our founders believed strongly in our cause and our mission as they guided us through the process of organizing
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as they devoted time and energy for the benefit of Noble County” states Executive Director, Linda Speakman-Yerick. Linda added “It is so wonderful that the growth of the Foundation has average over one million dollars per year in growth. Individuals, families, and corporations believe in the concept of endowments that will assist many nonprofits for generations to come and provide sustainability forever and leave their legacy in Noble County.”
Indiana Philanthropy Alliance is a nonprofit membership association for Indiana’s private, family, community, and corporate foundations, corporate giving programs, and other grantmaking organizations. IPA’s mission is to champion, support, and connect its members as they transform Indiana through effective philanthropy. To learn more go to www.indianagrantmakers.org