Why Is There A Rome Community Foundation?
The concept of a Rome Community Foundation was developed to provide individuals and groups with a method for making charitable gifts or bequests of permanently endowed funds, giving the donor favorable tax treatment. Income generated from investment of the endowments is used at the discretion of the Foundation's Board of Directors for the benefit of the Rome area.
The Rome Community Foundation has about $7 million dollars in assets which are under professional management. The income from the investments is used to fund grants and has grown since the Foundation was established in 1999.
The Rome Community Foundation has investment as well as philanthropic and charitable responsibilities. Investments are professionally managed with the objective being a steady and growing income stream from which to make grants.
Meeting charitable needs in the Rome Community is the responsibility of the Foundation's Board of Directors, the members of which are elected from the Rome community for individual terms of three years.
The Foundation offers potential donors an opportunity for charitable giving with the knowledge that money given to it will be invested and the income distributed for the betterment of the Rome community and its vicinity. Decisions for grants are made locally, focusing on the particular and unique needs of the Rome area.