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Today, at a time when not-for-profit organisations and donors are more stretched than ever, Bermuda has an unprecedented opportunity to build a sustainable source of support for its civic sector. Bermuda Community Foundation is the first of its kind to mobilise and funnel resources strategically, while sustaining a focus on the continuing and changing needs of Bermuda.
What is a Community Foundation?
A community foundation is a grant-making organisation made up of funds that have been established by individuals, families and businesses. It is designed to pool, steward and deploy donations from unrelated donors, dedicated to the improvement of a given place.
A community foundation invests the assets it holds, generating income which is distributed to bona fide charities and community organisations according to donors’ suggestions, areas of interest or through competitive grants made by the foundation itself.
For donors, community foundations offer a one-stop shop for contributing to a community they care about. For communities, they ensure informed, strategic, and sustained support for the third sector. For smaller nonprofits, new or emerging charities and community groups, they offer potential extra funding support from one place and for larger nonprofits, an opportunity to develop a passive income source by establishing their own endowment that is professionally managed.