Community Foundation for Oak Park

The Community Foundation for Oak Park is a nonprofit organization that supports community programs and projects by acting as a governing body and tax-exempt umbrella for various community groups and donor-defined funds[1][2].

Mission

The foundation's mission is to support needed and desired community programs and projects in Oak Park. It offers a platform for donors to create structured charitable giving plans, allowing them to choose their charitable goals while ensuring that their donations are effectively utilized[1]. This approach helps donors manage their philanthropic efforts while benefiting from immediate tax advantages[1].

Governance and Leadership

The Community Foundation operates under the guidance of a Board of Trustees, which has the authority to define membership classes and establish their powers and obligations[4]. As of recent data, the leadership includes a president, vice president, treasurer, and secretary, all serving without compensation[2].

Financial Overview

In its fiscal year ending June 2023, the foundation reported total revenues of $246,558, primarily consisting of grants, contributions, and net income from fundraising events[2]. The organization does not generate income from program services, investments, or other typical revenue streams like rentals or sales of inventory[2].

Grants and Support

The Community Foundation receives grants from various organizations. For example, it received $5,500 from the Schwab Charitable Fund and $973 from the Assurant Foundation during 2023[2]. It also received a $17 contribution from the AmazonSmile Foundation in late 2022[2]. These grants reflect the organization's role in supporting public benefit and financial assistance initiatives within the community.

Overall, the Community Foundation for Oak Park plays a crucial role in fostering community development by facilitating strategic philanthropy and ensuring the effective use of charitable resources.

[1] https://oakparkfoundation.org [2] https://www.causeiq.com/organizations/community-foundation-for-oak-park,953416510/ [3] https://www.oprfcf.org [4] https://oakparkfoundation.org/governance/ [5] https://smilehub.org/profile/community-foundation-for-oak-park-226903i