What is the Baldwin-Woodville Area Community Foundation?
The Baldwin-Woodville Area Community Foundation (BWACF) is a community foundation or public charity 501(c)(3) established to stimulate and faciliate the emerging needs of people in the Baldwin-Woodville area. The BWACF was established in 1991 when the Articles of Incorporation were filed with the State and By-Laws were adopted. 501(c)(3) tax exempt status was approved in 1993.
As a relatively young Foundation, current annual distributions are limited and will grow as the assets of the Foundation increase.
The BWACF Board is comprised of volunteers from throughout the community.
What is a Community Foundation?
A community foundation is a tax exempt, non-profit autonomous publicly supported institiution organized and operated primarily as a permanent collection of endowed funds for the long term benefit of a defined geographic area.
The first community foundation began in Cleveland in 1914. It was soon followed by others in Boston, Chicago, and New York City. Now more than 300 community foundations are found throughout the United States. Community foundations are designed to accommodate the special concerns of the donor. The donor, through a gift or a bequest, established a permanent named fund within the foundation’s endowment. Depending upon the charitable goals of the donor, grant distributions from the fund may be for broad or specific purposes. The donor may even participate with the foundation in the selection of the grantees. The fund is continually recognized in the foundation's annual report and identified to the charitable organizations that receive distribution from the fund.
Community foundations provide an attractive, cost effective alternative to establishing a private foundation. The donor gets superior tax advantages and freedom from annual reporting requirements, but may retain the right to advise or grant recipients from his or her fund.
BWACF Board Members
For more information on the BWACF email us at email@example.com