Did you know there are many types of foundations and each of them are set up to support different purposes. Give this article a read to find out ten of the many types of foundations.
Individual artist or artistic organisations can apply for grants through the Arts Foundation. This will usually help the artist to develop their own project and create their portfolio to the level where it can help them make a living if that is within their aim.
Community foundation make grants to effective programs in their community – this is setup to better communities and funding project towards the community’s needs.
Corporate foundation is designed to help the employees such as where they live and/or where the business operates. The business then have a charity pot where their business operates to raise money for the foundation – the outcome is often always positive.
The purpose of grantmaking is to distribute funds for a very specific mission and it can range from minor or major part of mandate.
Private Family Foundation
They are the largest proportion of grantmaking organisations. The purpose of Private Family Foundation is to meet philanthropic passions of a family or individuals. Self-funded programs are common.
Public Foundation have very high expectations around the effectiveness and transparency. They are usually set up as an agency, board, or commision that has granting mandate.
This is a private Foundation that is usually owned by one source, such as an individual’s bequest. Independent Foundations are usually a for-profit organisation rather than non-profit.
Private Foundations that use most of their income to provide charitable services or programs of their own, rather than making grants outside organisation.
A private foundation whose funding is from the contribution of a for-profit business organisation. The company-sponsored foundation may maintain close with the donor company, but it is an independent organisation with its own endowment. Rules and regulations are still the same as other private foundations.
Grantmaking Public Charities
Grantmaking Public Charities raise money to support groups of nonprofit organisations.
These are only a few of the many types of grantmakers. It is amazing how many types of grantmakers there are and that everything can be supported by the grantmakers – but you just have to find the right grantmaker that will be able to support your type of mission.
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