CFGC resources and experience enable donors to avoid the costly undertaking of creating and maintaining a private or corporate foundation as well establishing grants and scholarships.
Community foundations are unique in the world of philanthropy. Although created to address issues within a certain geographic area, through grantmaking from the foundation's endowment, community foundations also serve as vehicles for all citizens to impact the region's future. Unlike private or corporate foundations that are endowed by a particular person, family or business, a community foundation holds funds contributed by many individuals and businesses that see the value of pooling their assets with fellow citizens to improve the community.
Additionally, donors may contribute to the Foundation's Fund for Chattanooga. The Foundation's Board distributes these unrestricted assets through a grantmaking process to address the greatest needs in the community. The endowment now stands at over $25 million and the income from the endowment is used for grantmaking to local organizations.
Donors may also contribute to a restricted fund within the Foundation. The Foundation has restricted funds and each has a different charitable purpose and a different base of local citizens building its assets. Examples include: Donor-Advised Funds, Field of Interest Funds, Agency Funds, Project Funds, Designated Funds, Scholarship Funds and Pass Through Funds.