What Nonprofits Need To Know About Community Foundations!

We look into the mysteries of Community Foundations, uncovering the ins and outs of building strong nonprofit relationships with one of the most impactful philanthropic structures in the US. Featuring Jill McIlroy, a philanthropic advisor at the Arizona Community Foundation. As someone who transitioned from the nonprofit sector, Jill offers unique insights into understanding the Community Foundation landscape. She emphasizes that these foundations are not only funders but essential partners for nonprofits in various capacities. The episode provides a comprehensive overview of how Community Foundations operate within the philanthropic ecosystem, their various types of funds, services offered, and the vital role they play in supporting nonprofits. Jill and Julia also explore the dynamics of donor-advised funds, nonprofit funds, and fiscal sponsorship provided by Community Foundations. They emphasize the importance of effective communication, transparency, and education for nonprofits seeking to engage with Community Foundations. By sharing real-life anecdotes and practical advice, this conversation aims to demystify the Community Foundation system and empower nonprofits to forge meaningful connections with these impactful institutions. Discover how Community Foundations can become invaluable allies for nonprofit organizations, offering resources, expertise, and support that contribute to the growth and success of the nonprofit sector. Watch this episode to gain a clearer understanding of Community Foundations and learn how to navigate these relationships to benefit your nonprofit's mission. 00:00:00 Welcome and Introduction to Jill McIlroy 00:02:37 Jill’s Path from Nonprofit Fundraiser to Philanthropic Advisor 00:04:05 What Is a Community Foundation and How Does It Work? 00:06:52 Types of Funds and Fiduciary Roles Explained 00:08:15 ACF’s $1.3 Billion in Assets Compared to National Peers 00:10:42 How Community Foundations Earn Revenue and Offer Services 00:14:21 Understanding Donor-Advised Funds and Grant Cycles 00:16:15 How to Approach a Community Foundation Strategically 00:18:45 A Real-Life Example of Donor Connection Through the Arts 00:20:32 How ACF Staff Learn About and Connect to Nonprofits 00:21:51 What Makes for a Strong Donor-Nonprofit Partnership 00:24:30 The Wealth Transfer and Generational Change in Giving 00:26:55 Planning Philanthropy Beyond a Donor’s Lifetime 00:28:14 National Reach: 800+ Community Foundations in the U.S. #foundations #nonprofit #foundationgrants