|
The Community Foundation Movement Begins
Community Foundations have seen rapid growth in recent
years, but the history of the movement began in 1914, in
Cleveland. At the time, many self-made, wealthy
industrialists wanted to give something back, but also
wanted to be sure that their gifts would continue to
have an impact for generations to come.
The result of much consideration was the concept of a
community trust. The advantages of such a trust were
numerous. One of the greatest advantages was that the
trust could live on forever. Gifts made for specific
needs could be redirected if it became impractical or
impossible to distribute funds for that particular need.
For example, a gift made to benefit the children living
in an orphanage would have no benefit if the orphanage
were closed. However, a community trust could redirect
funds from that gift to other children's causes. In this
way, a gift would remain viable and beneficial to the
community.
Pennsylvania Joins the Community Foundation Movement
In 1916, in Williamsport, PA, a group of
forward-thinking businessmen heard of the concept of a
community trust and had the vision to create one for the
people of Williamsport and Lycoming County. With initial
gifts of just $33, a group of bankers formed the first
community foundation in Pennsylvania.
Throughout the twentieth century, the Foundation's
assets grew. Community members continued to make gifts
and bequests to the Foundation. As the principal of
these funds grew, the Foundation began to make grants to
benefit charitable work in the community. The Foundation
made its first grants in 1930, in the midst of the Great
Depression.
Meeting a New Century
Near the beginning of the twenty-first century, the
Foundation held nearly $50 million in assets,
significant for a community the size of Lycoming County.
The Williamsport-Lycoming Foundation held wealth, not
just in assets, but also in experience and professional
management, that the Board and staff of the Foundation
wanted to share with neighboring communities. The
Foundation began to reach out to the surrounding region
to offer assistance to communities that wanted to grow
their own foundations.
In 2004, the Foundation's name was changed to reflect
this new, regional approach to philanthropy. The
Foundation became the First Community Foundation of
Pennsylvania, and the Williamsport-Lycoming Community
Foundation became the founding affiliate of this new
organization.
|
