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In 2006, The Community Foundation of Greater Birmingham awarded $14.2 million in grants from more than 300 grantmaking funds. Grants from Community Funds are made through a competitive process twice a year to help non-profit organizations provide needed services in arts and culture, education, environment, health, human services/strengthening families and supportive communities. The amount available to be awarded from Community Funds is based on an annual spending policy. Grantmaking from other types of funds, such as scholarship, advised, designated and agency endowment, are made according to previously set spending policies for each fund or according to recommendations by the fund advisors, assisted by our Donor Services staff.
The Community Foundation of Greater Birmingham was created in May of 1959 as the Greater Birmingham Foundation. The first Advised Fund was the Mervyn & Dora Sterne Fund. Today, the number of grantmaking funds has grown to more than 300, ranging in size from $10,000 to $26.5 million, and total assets of $143 million at year-end 2006. Since its creation, The Community Foundation has made more than $161 million in grants to thousands of organizations. (All figures as of year-end 2006.)
The Community Foundation of Greater Birmingham is one of approximately 700 community foundations across the nation which reported combined assets of some $44.6 billion in 2005. Based on 2006 data, the most recent available for comparison among community foundations, our Community Foundation ranked #83 for gifts received, #71 for market value of its assets and #63 for grants awarded.
The Community Foundation serves donors as a flexible mechanism to carry out their specific charitable interests. Donors may establish a named grantmaking fund with a minimum of $15,000 (scholarship fund minimum $50,000), often in the place of a private foundation which might be less efficient and more costly to the donor, or they may make a gift in any amount to Community Funds or other existing funds of The Community Foundation.
The Investment Committee of the Board of Directors determines the investment policy of funds established with The Community Foundation of Greater Birmingham, Inc., a corporate form created in 1997. This policy is highly diversified and uses a number of different money managers. Individual grantmaking funds also may be established in trust format at one of several financial institutions.
The Community Foundation is governed by a Board of Directors made up of knowledgeable community leaders, which makes the final decision on all grant awards.
Kate Nielsen currently serves as President. Past Presidents/Executive Directors include Peggy Spain McDonald, 1964-1991; Sheila S. Blair, 1992-1997, and Mimi W. Tynes, 1998-2000.
The Women’s Fund of Greater Birmingham is a component fund of The Community Foundation, set up in 1996 by Lin Carleen as a permanent endowment with the goal of creating greater opportunities for women and girls as well as encouraging women to give. The Women's Fund, which made its first grants in 2000, had assets of more than $2 million at year-end 2006.
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