About Faribault Foundation
The Faribault Foundation was founded in 1999
as a non-profit 501(c)3 tax-exempt public charity
that allows individuals, businesses and other
organizations to establish permanent endowments
and temporary funds within the structure of a single
large foundation. These funds are managed by a
board of directors comprised of Faribault area residents.
The Mission of the Faribault Foundation, Inc. is
to develop, manage, and administer financial
resources to promote and enhance the quality of life
for the greater Faribault community.
About The Foundation
The Faribault Foundation is a collection of individual funds and resources given by individuals and organizations to support the quality of life in the greater Faribault community. The Foundation’s funds are used to provide grants to non-profit organizations and other community groups. The Foundation serves the City of Faribault and the immediate surrounding area. The Faribault Foundation holds, invests, and manages resources for individual, family, business, and other non-profit organization donors.
The Faribault Foundation also brings community leaders and groups together to help identify and solve community problems by coordinating expert technical assistance and collaboration. The Foundation sets priorities to maximize local benefits for the distribution of the Foundation's unrestricted funds and carries out the specific charitable goals for the Foundation donor directed funds. In addition, the Foundation also acts as a short-term fiscal agent for community projects.
What can you do to help?
What can one person do to help the Faribault Foundation? Plenty! There are several ways you can help make the Foundation’s Mission a reality:
Become a Board Member
Donate Any Amount of Money
Leave a Legacy Gift
Serve on the Foundation’s Advisory Roundtable
Become an Occasional Contributor of Ideas for Specific Projects
Take Part in Community Discussions and Brainstorming
What is a community foundation?
A community founation, such as Faribault Foundation, is a nonprofit organization that exits to oversee endowment funds set up by members of its community. The organization makes charitable grants to local people and organizations.
About 450 community foundations exist in the United States.
They are like pools of funds invested for the FUTURES of their communities.
Community Foundations are called that because they focus on BENEFITING the LOCAL Communities they serve
Who are the Donors?
Donors who set up funds may be famous or obsecure.
They can be individuals, families and corporations or even casual groups of friends with a common charitable vision.
Why use Faribault Foundation?
While each community foundation has its own distinct personality and style, all share several attributes:
Each exists so individuals and corporate or nonprofit organizations can establish a charitable fund without having to cope with the complexities of setting up a special-purpose nonprofit corporation.
Each community foundation functions, in effect, as aphilanthropic and grant-making collective.
A unique characteristic is that community foundations make it possible for whomever establishes a fund to make certain the money serves specific charitable purposes. At the same time, however, a community foundation pools all of its funds for investment purposes, making it possible for individual, small funds to achieve economies of scale. For example, a community foundation might make a single grant for development of low-income housing that includes money from a half dozen different individual funds focused on the same field.
Each community foundation is headquartered in and serves a specific community some as confined as a small city, others as large as entire states or regions within states. Accordingly, a community foundation is a locally managed organization with a fund base that reflects the priorities and imperatives of the community itself.
While a community foundation is a single entity made up of many financial parts, some small, others large, it enjoys expertise in financial management found only in larger philanthropic organizations. Similarly, a community foundation possesses expertise in grant-making otherwise known only to large charities, but available to benefit even the smallest funds.
Community foundations like Faribault Foundation respond quickly and specifically to need that develop on the local level. They endow community priorities for decades into the future.