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.

    • I

      In-Kind Contribution:

      A donation of goods or services rather than cash or appreciated property.

    • Independent Foundation:

      Independent private foundations are usually founded by one individual, often by bequest. They are occasionally termed “non-operating” because they do not run their own programs. Sometimes individuals or groups of people, such as family members, form a foundation while the donors are still living. Many large independent foundations, such as the Ford Foundation, are no longer governed by members of the original donor’s family but are run by boards made up of community, business and academic leaders. Private foundations make grants to other tax-exempt organizations to carry out their charitable purposes. Private foundations must make charitable expenditures of approximately 5 percent of the market value of their assets each year. Although exempt from federal income tax, private foundations must pay a yearly excise tax of 1 or 2 percent of their net investment income. The Rockefeller Foundation and the John D. and Catherine T. MacArthur Foundation are two examples of well-known “independent” private foundations.

    • Internal Revenue Service (IRS):

      The federal agency with responsibility for regulating foundations and their activities. On-line at www.irs.gov.

St. Louis Community Foundation

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