In 1968, community leaders formed The Community Foundation Serving Richmond & Central Virginia to provide stewardship for permanent endowments that enhance the lives of area citizens. The original Board of Governors included:
| John S. Battle, Jr. |
S. Buford Scott |
| Fitzgerald Bemiss |
Mrs. William B. Thalhimer, Jr. |
| D. Tennant Bryan |
Fielding Williams, Founding Chairman |
| William H. Higgins, Jr. MD |
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The Community Foundation has grown substantially since its inception, reflecting both the vision and integrity of its leaders and the extraordinary philanthropic spirit of the people of Richmond and Central Virginia. The Foundation measures its success in terms of the many individuals, families and corporations who have entrusted us to be stewards of their charitable interests, the many grantees we support and the many referrals we routinely receive from the area's most knowledgeable financial advisors.
With combined assets of $510 million, The Community Foundation is one of the largest grantmakers in Virginia.
A community foundation is a tax-exempt public charity that helps people like you accomplish your philanthropic goals through a named charitable fund. The funds are managed professionally and invested assets will grow over time. The foundation invests and administers these funds. All community foundations are overseen by a volunteer board of leading citizens and run by professionals with expertise in knowing their community's needs.
The first community foundation was formed by Frederick Goff, President of the Cleveland Trust Company, in 1914. (Interestingly, that was one year after John D. Rockefeller made a $35 million gift to start the Rockefeller Foundation.) Mr. Goff felt that there needed be a way for individuals of all means to leave philanthropic bequests to benefit their community without having to create a private foundation. His concept was simple. People would donate funds to meet local needs, and they would be administered and invested by local professionals.
Community foundations make up one of the fastest growing sectors of philanthropy in the United States today. There are more than 700 community foundations throughout the country, including 29 in Virginia. According to the most recent data available, in 2005, U.S. community foundations held approximately $44.8 billion in assets and gave $3.2 billion to a wide variety of nonprofit activities, including urban affairs, the arts, education, environmental projects, health and disaster relief. This model has also spread throughout the world, with at least 1,175 community foundations in 46 countries outside the United States.
Through philanthropy that is visionary, diverse and inclusive, community foundations have become catalysts for improvement within both urban centers and in rural settings. Community foundations offer donors many services and benefits. They routinely work with families, individuals, attorneys and estate and financial planners to design gift plans that fit every economic situation, ensuring that donors receive the most benefit from their charitable contributions and that their philanthropic dollars are used to the fullest extent. |  |
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| Fielding Williams
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