A Century of Service. Giving for Good.
Glossary

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St. Louis Community Foundation

#2 Oak Knoll Park
Saint Louis, MO 63105

tel 314-588-8200
fax 314-588-8088

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accreditedcfsealThe St. Louis Communitiy Foundation, the first community foundation established in Missouri, is proud to be among an elite group nationwide to be confirmed in compliance with the National Standards for U.S. Community Foundations.

    • F

      Family Foundation:

      “Family foundation” is not a legal term, and therefore, it has no precise definition. Yet, approximately two-thirds of the estimated 44,000 private foundations in this country are believed to be family managed. The Council on Foundations defines a family foundation as a foundation whose funds are derived from members of a single family. At least one family member must continue to serve as an officer or board member of the foundation, and as the donor, they or their relatives play a significant role in governing and/or managing the foundation throughout its life. Most family foundations are run by family members who serve as trustees or directors on a voluntary basis-receiving no compensation; in many cases, second- and third-generation descendants of the original donors manage the foundation.

    • Field of Interest Fund:

      A fund held by a community foundation that is used for a specific charitable purpose such as education or health research.

    • Financial Report:

      An accounting statement detailing financial data, including income from all sources, expenses, assets and liabilities. A financial report may also be an itemized accounting that shows how grant funds were used by a grantee organization. Most foundations require a financial report from grantees.

    • Form 990/Form 990-PF:

      The IRS forms filed annually by public charities and private foundations respectively. The letters PF stand for private foundation. The IRS uses this form to assess compliance with the Internal Revenue Code. Both forms list organization assets, receipts, expenditures and compensation of officers. Form 990-PF includes a list of grants made during the year by private foundations. These forms are public information and can be accessed on many non-profit websites or through a web-based service such as GuideStar.

    • Funding Cycle:

      A chronological pattern of proposal review, decision-making and applicant notification. Some donor organizations make grants at set intervals (quarterly, semi-annually, etc.), while others operate under an annual cycle.

St. Louis Community Foundation

#2 Oak Knoll Park, St. Louis, MO 63105
tel 314-588-8200, fax 314-588-8088
info@stlouisgives.org