Overview
From our founding days in 2000, our vision for family philanthropy in Hudson was similar to that of all community foundations set up since the first community foundation was established in Cleveland in 1914: to preserve and enhance the quality of life in the community for generations to come. To accomplish this we needed a community-based charitable endowment – a public charity to which individuals, families and companies could set up a fund in their name, contribute a wide variety of assets, and enjoy the best tax benefits available. Also, have those funds administered and distributed under a common umbrella for the long-term betterment of the community. In short we needed a community foundation.
In 2000, we set out to design a community foundation especially for Hudson, one that would reflect the unique character and personality of Hudson residents. In addition to the traditional charitable giving strategies that most community foundations offer (designated funds, field-of-interest funds, unrestricted funds and Donor Advised Funds), we wanted to create the opportunity for donors and their families to experience the special satisfaction that comes from personalized family philanthropy. Recognizing that, for many, this would be their first exposure to family philanthropy, we wanted it to be a truly remarkable family experience, one that even their children and grandchildren would understand, take part in and remember for years to come.
We wanted to offer the widest range of flexibility in contributions, grants and family involvement over successive generations. We wanted HCF to be simple, smart, and meaningful.
Over the past ten years, we have distributed nearly $3 million to charity, $600,000 of which went to charitable causes in the Hudson community from individual donor funds and HCF’s unrestricted resources.
As we enter our second decade, it is clear that Hudson Community Foundation is keeping true to its original vision. Our mission of “Enriching Hudson Forever” will be measured on empowering simple, smart, and meaningful family philanthropy to the residents of Hudson.
Sincerely,
Phil Tobin on behalf of the founding Board
Hudson Community Foundation (HCF) will make available IRS Form public inspection copy 990 on our website www.myhcf.org. HCF’s public inspection copy 990 can also be found on Guidestar’s website www.guidestar.org and is available upon request.
Currently HCF does not file an IRS Form 990-T but if they do in the future, this form will be available in the same matter as IRS Form 990
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What is a community foundation?
Community foundations are nonprofit organizations established to meet the current and future needs of local communities. Community foundations offer donors all the tax advantages of charitable giving, the long-term benefits of endowment funding, and the ability to establish a legacy fund in the name of a family or a loved one.
HCF provides a simple, powerful, and highly personal approach to giving.
Three special features of a community foundation…
1. You receive personalized service. Community foundations provide personalized service, helping individuals, families, businesses, and nonprofit organizations achieve their charitable and financial goals by offering tools and resources that make giving easy, flexible, and effective. Our donors can create personal legacies via named funds, teaching future generations the value of giving back. We offer involvement in recommending uses of a gift, while providing the option to give anonymously.
We create giving solutions that fit every situation.
2. You access local expertise. Your community foundation is a local organization staffed by people from your community and led by a local board of directors. This group of people has an in-depth knowledge of the issues, opportunities and resources that shape your community, enabling them to play a key role in solving community problems, while helping donors learn more about local needs in order to make their giving as effective as possible.
We help donors make a difference where it is needed most.
3. You support community leadership. HCF plays a key role in addressing community needs, now and in the future. We act as a community catalyst, bringing diverse voices and groups together to address local issues, and fostering greater giving and volunteering in our communities. We build endowments to ensure grants support the community forever. We are governed by leaders with strong ties to our communities. Our work focuses on that of nonprofits; we foster the development of new organizations and programs, support high-impact opportunities, and re-direct funds as community needs change.
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The McGrainor Scholarship Fund
Maggie decided to establish a scholarship fund at Hudson Community Foundation as a memorial to