Geneseo Is For Tomorrow
Why A Community Foundation
Geneseo is for Tomorrow (GIFT) is a component fund of the Quad Cities Community Foundation. As a component fund we are the only group in Geneseo that can legally offer the benefits of a Community Foundation. All other foundations in Geneseo are legally classified as private foundations. There are several distinct advantages.
A Community Foundation is created by the citizens of a local area and is a tax-exempt public charity that helps people accomplish their philanthropic goals. Community Foundations work in partnership with concerned citizens, nonprofits and governments to achieve community goals and maximize grant making effectiveness. They offer a variety of charitable funds to easily and effectively support the issues donors care about. Each fund is professionally managed, and endowed assets continue to grow over time. A Community Foundation supports community causes that matter to the donor and to the community. Community Foundations are overseen by a volunteer board of leading citizens and often facilitate community-wide conversations about important community topics.
Private foundations are subject to numerous technical rules and requirements of the IRS.
Foundation Comparison - Community (GIFT) vs. Private