ICF and CF History

Brief History of Community Foundations in the United States


1914

  • In an effort to improve the way the Cleveland Trust Company did business, company president Frederick Goff established the world’s first community foundation, The Cleveland Foundation in Ohio.
  • His company, like many others, managed several small endowed charitable trusts, some of which were established for specific purposes and others which were intended simply to benefit the residents of greater Cleveland.
  • Goff’s company was having difficulty identifying the most worthy recipients for the income from these trusts. His solution created a separate organization. The bank would continue to do what it did best (investments) while the foundation would do what it did best (grant making).

1950s

Private foundations came under increasing attack for a perception that they abused their tax-exempt status.

1969

The Tax Reform Act of 1969 was passed, a sweeping change in tax legislation to combat the perceived abuses of private foundations in the 1950s. These changes resulted in private foundations becoming more strictly regulated and made community foundations a more attractive option for many donors because:

  • Lifetime gifts to a community foundation of certain kinds of appreciated property, such as real estate and interests in closely-held businesses, can be deducted at full fair-market value.
  • The annual deduction limit for individual gifts is higher for a community foundation than for a private foundation.
  • Community foundations are free from excise tax and other requirements that apply to private foundations, enhancing their appeal to many donors.
  • There are no legal costs for the establishment of funds.
  • There is no requirement of a 5 percent yearly distribution.
  • Fund donations are 100 percent tax deductible and donors can remain anonymous.
  • Separate tax returns for donors to file are not required.
  • Limited public access to tax records for individual community foundation funds, though a community foundation’s general tax return is public.

Today

There are more than 700 community foundations in the United States and 1,800 abroad. Largest ones:

  1. Silicon Valley Community Foundation (CA); $7.3 billion in assets (2015)
  2. Tulsa Community Foundation (OK); $4.5 billion in assets (2015)
  3. The New York Community Trust (NY); $2.5 billion in assets (2015)
  4. Greater Kansas City Community Foundation (MO); $2.4 billion in assets (2015)
  5. The Chicago Community Trust (IL); $2.3 billion in assets (2015)
  6. The Cleveland Foundation (OH); $2.1 billion in assets (2015)
  7. The Columbus Foundation (OH); $1.7 billion in assets (2015)
  8. Foundation for the Carolinas (NC); 1.7 billion in assets (2015)
  9. The Oregon Community Foundation (OR); $1.7 billion in assets (2015)
  10. Marin Community Foundation (CA); $1.6 billion in assets (2015)

Source: Foundation Center

History of the Idaho Community Foundation


Steering Committee:
These individuals explored the feasibility of a community foundation for Idaho and served as the Foundation’s incorporators in 1988:

* Gordon Black *Robert E. Krueger
* John B. Fery * Roger A. Martell
* Margaret Gigray * Warren McCain
* Alice E. Hennessey * Daniel R. Nelson
* C.E. “Gene” Hill * John L. Runft
* D. Whitman Jones  


Founding Donors:

The Idaho Community Foundation owes its existence to the foresighted individuals, corporations, and organizations which joined together to create and endow the Foundation.

Our Founding Donor campaign concluded December 31, 1992, having raised a total of $5 million. We are pleased to give continuous recognition to the vision and generosity of those who supported the Foundation in its first stages of growth.

Many of these donors have made additional contributions to the Foundation in subsequent years.

Major Founding Donors (Gifts of $250,000 or more)

J.A. and Kathryn Albertson Donald and Gretchen Fraser
Northwest Area Foundation Ethel B. “Stevie” Rawlinson
Earl C. Reynolds Jr. J.R. Simplot

 

Leadership Founding Donors (Gifts of $100,000 or more)

Albertson’s, Inc. Harry Bettis
Boise Cascade Corporation Charles Stewart Mott Foundation
Daugherty Foundation John B. and Delores L. Fery
Lewis Hower G. Nicholas and Sara Ifft
Sara M. Maas Warren E. McCain
Arthur and Jane Oppenheimer Treasure Valley Family YMCA
U.S. Bank The Whittenberger Foundation
Miles and Virginia Willard  

 

Founding Donors (Gifts of $25,000 or more)

Arthur Andersen LLP Amalgamated Sugar
Boise Philharmonic Association, Inc. Joan Chesbro
Jim and Barbara Cimino Robert and Mary Evans
Roger and Sybil Ferguson First Security Bank of Idaho, N.A.
Global Travel, Inc. Linda Grable-Curtis
Green Giant/Pillsbury Hecla Mining, Inc.
Tom and Alice Hennessey William R. Hewlett
Hewlett-Packard Company Richard M. and Mary B. Hormaechea
Idaho Power Company Intermountain Gas Industries Foundation
Kenlon P. and Carol J. Johnson D. Whitman and Paula Jones
Key Bank of Idaho H.F. and Colleen Magnuson
Merrill Lynch & Co. Foundation Park Price Motor Company
David and Vaniece Petso Potlatch Corporation
Robert and Dorothy Rebholtz Bob and Carol Reed
Tom, Sheila, John and Joy Richards Jim and Bette Roper
John Roper Carmelita G. Spencer
The Terteling Company, Inc. Harry B. Turner
Union Pacific Foundation U S WEST Communications
Wells Fargo Bank (formerly First Interstate Bank)  
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