What is a Community Foundation?

A Community Foundation is a collection of permanent endowment funds established by an individual, family or business donors for the long term benefit of a particular geographic area. A volunteer Board of Directors representing the community's diverse population manages these funds and disburses the income from them as grants, services and scholarships to nonprofit organizations, service organizations, individuals and families. Because the Internal Revenue Service (IRS) classifies community foundations as public charities, donors who establish funds within the community foundation are often eligible for significant tax advantages that are not available through other forms of giving.

The Community Foundation of the Virgin Islands (CFVI) is still young, and its assets still small, but it belongs to an 80-year old philanthropic movement that is sweeping the United States and rapidly spreading into other countries. Almost 600 community foundations are now managing the combined assets of $30 billion and distributing the income to nonprofit organizations that are serving their local communities.

CFVI is a member of the Coalition of Community Foundations for Youth, a national network of action-oriented community foundations, advocacy groups, public policy makers, youth service organizations, business leaders, and other philanthropic organizations which collaborate to foster positive structural changes for children and youths within their own communities.