The Community Foundation of East Central Illinois is a publicly-supported 501(c)(3) tax-exempt philanthropic organization created in 1972 to encourage and receive contributions establishing endowments for the long-term benefit of east central Illinois. It does not conduct programs of its own, nor is it a fund-raising organization. It supports and serves its donors by managing and administering endowed funds that have been donated for philanthropic purposes.
Endowed funds are established through donor contributions both large and small. Because the funds are endowed, they are permanently invested to produce income that is used to meet charitable needs of the community as designated by the donor or as determined by the Foundation. Donors may specify a particular organization, a field of interest such as education, youth programs or the arts, or the funds can be donated without restriction and the Foundation’s Board of Trustees can determine allocations for the most pressing community needs. Whatever the intent, the Community Foundation maintains the integrity of the original gift, investing for income and preserving principal, so that the community will benefit from it forever.
The Community Foundation accepts contributions from a wide range of donors, including individuals, businesses, corporations, families and other organizations, all of which share a vision of enhancing the quality of life in their community.
The Community Foundation maintains its neutrality by having an independent governing body of fifteen Trustees that serve without compensation. These volunteers are chosen because of their knowledge of the community and their expertise in the many areas of management necessary to carry out the functions of the Foundation.
Funds entrusted to the Community Foundation are audited annually and investment managers are required to submit to periodic performance reviews by the Foundation’s Board of Trustees.