FREQUENTLY ASKED QUESTIONS
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A community foundation is a vehicle for people of all means to make a lasting difference in their community. It serves the needs of donors who want to better their community by offering flexible options to create permanent funds that support their personal passions and their philanthropic goals, both now and in the future.
We connect donors with community needs, and we serve donors by helping them make a lasting difference in the way that most inspires them. The foundation also brings people together to explore common concerns and issues impacting our area.
A community foundation is made up of people with a deep understanding of local needs and opportunities. By setting up funds with the foundation, people are able to make grants to support their favorite charitable causes and to respond to specific and time-sensitive community needs.
An endowed fund is one in which your gift becomes the principal, or corpus, and cannot be spent. Earnings from the principal will become available each year for grants. Donors may request the principal remain intact for perpetuity, for a defined period of time, or until enough assets have accumulated to achieve a specific purpose. A non-endowed fund allows your gift to be available for grants immediately.
The Board of Directors of the Greater White Bear Lake Community Foundation, working in conjunction with its Investment Committee, manages the foundation’s funds. The Investment Committee is a team of prominent local community leaders with financial and investment expertise. The Investment Committee follows an Investment Policy approved by the Board of Directors.
Our donors guide our giving. Disbursements from our fund fulfill donors’ charitable passions through grants to nonprofit and community organizations. We are also able to assist donors better understand and respond to changing needs in our community.
The Board of Directors consists of individuals who live and work in the five communities served by the foundation. They know the community well and are excited to be working together to make a difference, not just for today, but for tomorrow.