What is a Community Foundation?
A Community Foundation is a tax-exempt, nonprofit, autonomous, nonsectarian philanthropic institution supported by the public with the long-term goals of:
- Building permanent, component funds established by many separate donors to carry out their charitable interests;
- Supporting the broad-based charitable interests and benefitting the residents of a defined geographic area, typically no larger than a state; and
- Serving in leadership roles on important community issues.
The Community Foundation for Nantucket was founded in 2005 by a group of local residents who identified the need for an organization to support and enrich the quality of life for Nantucket’s growing community. These Founders were Peggy Gifford, Wade Green, Reggie Levine, Eileen McGrath, John Miller, Nancy Nelson, Richard Oman, Les Ottinger, and Clarissa Porter. Some of the founders had worked closely with other community foundations and knew their value. Some had first-hand experience with Nantucket’s nonprofits. Some were acutely aware of the needs of the local community. All of them cared deeply about Nantucket.
In 2019, the Foundation achieved accreditation with National Standards for U.S. Community Foundations®. This accreditation, signified by the Seal shown here, indicates that the Community Foundation for Nantucket meets the highest standards for philanthropic excellence.
” This is a significant accomplishment. When people trust CFN with a charitable bequest, to establish a fund, ot set up an annuity, they do it knowing that we have met rigorous standards for donor services, investment management, grant-making, and administration.” Geoff Verney, CFN Board President