The Warren County Foundation is a community
foundation, which is a special category of not-for-profit
organization. Community foundations such as ours exist to
make it easy for people to be charitable and to build an endowment
to meet changing community needs over time.
They were started in 1914 by a Cleveland
banker who felt that the practices of the day were needlessly
eroding charitable funds. It was expensive to administer charitable
trusts in banks, which knew more about investing money than
giving it away. And it was expensive to go to court when charitable
funds had outlasted their purposes and needed to be altered
to stay useful.
The banker proposed an organization, governed
by civic leaders, that would handle permanent funds for charitable
individuals and distribute grants to good causes in their
names. The community foundation would enjoy economies of scale,
offering professional management to the affluent and modest
donors alike. Banks would continue to manage the investment
of principal and the civic leaders would see to it that donors
wishes were carried out.
The Warren County Foundation was founded in 1997, when a group
of community leaders and philanthropists created the organization
as a means to preserve Warren County wealth and charitable
dollars for the good of the county's citizens. The Foundation
now manages and administers a number of different charitable
funds and distributes income from its endowment funds to community
charitable organizations and scholarship programs.
The Foundation works with individual donors, or with their
financial and/or legal advisors to determine appropriate methods
and instruments for giving, always sensitive to what is best
not only for the needs of the community, but also what is
best for the donor.