The McKean County Community Foundation
For a number of years, local business and civic leaders have been working together to explore and discuss establishing a community foundation in the McKean County area. After years of research it was determined that creating a community foundation could benefit the community and local nonprofits.
The McKean County Community Foundation (MCCF) became an affiliate organization of the Community Foundation of North Central PA in February 2017. The affiliate has been formed in order to support charitable causes considered beneficial to the McKean County community. The IRS tax-exempt status for MCCF will be a 501 (c) (3) under the Community Foundation of North Central PA (CFNCP).
It was in 2011 that the Elk County Community Foundation (ECCF) established the CFNCP, enabling discussion in neighboring counties and communities that were not being served by a community foundation in the area. At that time the ECCF became an affiliate of the CFNCP and the board and staff continued to look for opportunities to serve neighboring areas like McKean County.
What is a community foundation?
A community foundation is a tax-exempt, non-profit, publicly supported philanthropic organization with the long-term goal of building permanent, named funds for the broad-based public benefit of the residents in a given area.
The common mission of every community foundation is to enhance the quality of life in the local area. Community foundations carry out this very broad mission by building permanent endowment funds and using a portion of the annual income to support a variety of local nonprofit organizations through grants and special projects.
Most community foundation assets are held in separate funds established by local individuals, families, businesses or charitable institutions. Each fund may have a special purpose, but the foundation board of directors, representing the community, oversees them all.
The IRS recognizes community foundations as public charities in part because they receive support from the general public and their boards broadly represent the areas served.
How does a community foundation work?
A community foundation is governed by a board of directors of community leaders and is administered by professional staff. Operating expenses are paid from an annual fund fee and from gifts designated by donors to cover the foundation’s operating and program costs.
In education there are the three Rs … In the community foundation world we have the three Gs:
• Gathering – Our community foundation builds endowments from gifts received through individuals, families, businesses, private foundations and other non-profit organizations.
• Growing – The funds are invested. The Finance and Investment Committee establishes and oversees sound investment policies that protect and enhance the principle using both local and national investment managers to provide strong, steady growth.
• Giving – Our community foundation distributes a portion of the income and principle annually to area 501(c) 3s, municipalities and churches that provide programs and projects to benefit the public. These distributions can be made according to the wish of each donor or by the direction of the foundation’s board.
The decision to share financial resources with worthy organizations is an admirable one. By making a gift to a community foundation you can support the arts, enrich education, protect the environment, provide human services, safeguard health, foster a stronger community ... and more! Everyone can be a philanthropist though a community foundation and help meet the charitable needs of our community for generations to come. Community foundations act as a “philanthropic savings account” for donors who share an interest in maintaining and improving their community.
The mission of the Community Foundation of North Central Pennsylvania, and its affiliates is to strengthen our region through development, stewardship and grant making as donors achieve their philanthropic goals.
Our vision is to connect people who care with causes that matter.
For more information about how to give click here
For more information, contact the office at 844-238-2289 or email@example.com
McKean County Board Of Directors
Bob Esch, Chair
Rich Esch, Treasurer
Sara Furlong, Secretary
Mandi Wilton Davis
Paula Fritz Eddy