In recent years, some community foundations have invested in local journalism, built new spaces in marginalized neighborhoods, and devoted resources to responding to crises like COVID-19, hurricanes, and wildfires. They are actively working to expand their impact and build thriving communities where all belong.
But a challenge remains: evolving the community foundation business model from traditional “community bank” that raises, stewards, and disperses funds to transformational “community asset” that can successfully take on this growing civic role.
Since 2023, the Aspen Institute Program on Philanthropy and Social Innovation has been working with a core group of 10 community foundation CEOs and their respective CFOs to meet this moment. As some community foundations experiment with their business models, what insights can we gain from innovations well underway or those just beginning? What can these community foundations, of varied asset, staff, and endowment sizes, teach us?
Read PSI’s new report to learn about four areas of business model experimentations and seven recommendations for action, gleaned from conversations with community foundation CEOs, CFOs, vice presidents or directors of philanthropy, infrastructure organization leaders, and private foundation leaders.
Our hope is that these new practices, structures, partnerships, and ideas are learning tools or sources of inspiration for the field. We also hope that the report is a starting point for deeper research, conversation, and learning that contribute toward more resilient and thriving communities across the country.
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