Many people are familiar with private foundations or trusts, many fewer are familiar with the newer idea of a community foundation. The following lists many of the characteristics of community foundations:

• A community foundation builds and maintains endowments, the earnings of which are used for charitable purposes within that community , in our case Greene County. A sort of county-wide savings account, in which only the earnings are spent for worthy community projects.
• Rather than serving the interest of just one person, as in a private foundation, community (or public) foundations combine the resources and serve the interests of many donors across the community.
• Assist donors in building an enduring source of charitable assets to benefit Greene County
• Offer great flexibility in meeting donors' wishes.
• Provide responsible stewardship of the donated gifts.
• Are governed by a volunteer board representing the community.
• Promote leadership in addressing community issues.
• Due to their nonprofit status community foundations offer donors significant tax advantages.
• Administrative costs typically are low.
• Share the common promise that the intentions of its donors will forever be tranlated into meaningful, charitable purposes.

The Greene County Foundation was recognized as a 501(c)(3) nonprofit organization by the Internal Revenue Service in July of 1998. At that time the Foundation had $4,300 in total assests. By year end assets had grown to $333,000, we had participated Lilly GIFT Phase III, hired a part- time executive director and moved into our current home in the west end of the Extension Building on the 4-H Fairgrounds. We have continued our forward momentum ever since. The Foundation currently holds sixty-two active permanent and nonpermanent funds, awards twenty-three scholarships, oversees the Community Alliance to Promote Education (CAPE) grant and has $1,436 million in total assets.