The vast majority of foundations are private foundations, non-governmental, nonprofit organizations that have their own funds or endowments. They are managed by their own trustees or directors and are usually founded to benefit educational, charitable, social, religious or other activities serving the common good.
There are three types of private foundations:
- Independent foundations , which include family foundations
- Corporate foundations (as distinct from corporate giving programs)
- Operating foundations (established to serve a single issue and usually a specific recipient organization).
Private foundations are required by the Internal Revenue Service to file informational tax returns called 990-PFs, and they pay out at least 5 percent of their income per year. Generally, private foundations fund only nonprofit organizations that are 501(c )(3)s.
Family foundations behave very differently depending on their size.
- Large family foundations operate similarly to other large foundations, with professional staff, clear guidelines and a process for reviewing proposals.
- Small family foundations, on the other hand, are usually run by family members. They often have broad guidelines, and they can be far more flexible about proposal format and deadlines. They tend to give smaller grants, but may fund ongoing operating expenses. Personal influence with board members may be helpful.
Since private foundations submit data to the Internal Revenue Service, information about them is available. Individuals and corporate giving programs, on the other hand, are not required to disclose the details of their charitable giving, which often makes it more difficult (or impossible) to get this information. Rather, names and giving details must be gleaned from press releases, donor lists published by recipient agencies and giving reports published by corporations.
Public foundations are publicly sponsored organizations that receive contributions from many donors and whose grantmaking decisions are overseen by their boards of directors. Community foundations differ from other types of public foundations in their grantmaking priorities.
Public foundations are considered by the Internal Revenue Service to be public charities that disperse their funds in the form of grants. If they have gross receipts of over $25,000 in any year must file Form 990 (other foundations file Form 990-PF, which makes it easier to identify them). Public foundations may emphasize a specific segment of a community, subject area or need.
Community foundations make grants for social, educational, religious or other charitable purposes in a specific community or region. Usually, their board of directors represents the community's diversity. There are about 500 community foundations in the United States, 19 of which are in Illinois. They tend to support broad public needs of their geographic community or region. Almost all of them produce annual reports, and like other public charities, they file form 990s. It is relatively easy to find information about them.
Local Foundations
State Foundations
- Duke Endowment
- Foundation for the Carolinas
- Hillsdale Fund
- Kate B Reynolds
- Kathleen Price Bryan Family Fund
- Mary Reynolds Babcock Foundation
- NC Healthy Start Foundation
- Triangle Community Foundation
- Z. Smith Reynolds Foundation
National Foundations
- Allen Foundation
- Carnegie Corporation of NY- Grantmaking Foundation
- Handspring Foundation
- Kiwanis International
- David and Lucille Packard Foundation
- Pew Charitable Trust
- Robert Wood Johnson Foundation
- WK Kellogg Foundation
Find Foundations
Where to look for information on potential sources, who gives money to what organizations, how much to ask for, finding guidelines and deadlines.
For more information please contact
Linda Blanton
Planning, Development & Communications Director
867-9700 ext 2230
lblanton@ccpfc.org
