Mission Statement
The mission of the Toledo Community Foundation is to improve the quality of life for the people of the City of Toledo and its surrounding area by the generation of interest in self help, volunteerism, and the restoration of pride in the community.
This will be accomplished by serving individuals, community organizations and the community at large, as a grant writing resource and a conduit to receive and dispense funds in the form of grants gifts and loans for charitable purposes and projects.
The result of our success will be an increased standard of living based on the efforts of the citizens provided with financial resources.
Who we are
The TOLEDO COMMUNITY FOUNDATION is a non-.profit corporation established as an agency to receive and administer funds and other property contributed for any civic, educational, charitable or religious purpose. The Foundation can receive and administer these assets and grant monies to assist, encourage and promote the welfare and well being of the people of the community of Toledo and surrounding area.
The Foundation was created In 1996 by a group of Toledo citizens to provide an agency to solicit grants and provide a means through which gifts, bequests, property or funds from any source may be placed in trust for the benefit of the people of the Toledo area. It became a 501 (c) (3) corporation in 1997 allowing it to give tax-deductions for any gifts.
Funds may be set aside for the stated purposes of the Foundation or for special purposes stated by the donor in cash or other property, either by gift or by will. A donation may be unrestricted (the use being left entirely to the discretion of the Board of Trustees) or restricted (when the contributor may specify his/her charitable or benevolent objectives either broadly or in detail) All funds are placed in a common investment pool but are accounted for as individual funds which share in the income from the pool. The income and principal of each fund is expended only for the purposes & to the extent designated by the donor.
At the present time the investment pool is in the form of CD's and Money Market accounts with West Coast Bank. in the future, when sufficient principal is accumulated, the pool will be invested in below average risk mutual funds as rated by Morning Star, Inc. A donor's contributions to the needs of the community of Toledo that are endowed funds are invested and protected from inflation, as far as possible, by adding to the principal. These funds are managed under sound, unified continuing control. The income from a donor's gift (and part of the principle if so desired) is employed in a manner consistent with the donor's wishes and with the laws governing non-profit corporations. Flexibility to meet changing future needs can be part of the agreement.
Under the TOLEDO COMMUNITY FOUNDATION organization, all gifts are received by the Board of Trustees and are the property of the foundation. The trustees will exercise control over the use and disbursement of funds for the stated purposes of the Foundation and in the case of restricted funds, for the stated purpose of those funds.