The Community Foundation of
Sanibel-Captiva was founded in 2000 by a group of concerned Island
residents, to provide a new source of support for non-profit
organizations on the Islands.
The Foundation is guided by
a Board of Directors. This volunteer group reviews grant requests and
determines charitable organizations which will receive grants. The
Board also communicates the objectives of the Foundation to potential
donors.
To that end, gifts made to
the Foundation qualify under present law for exemption from taxation
under the Federal estate and gift tax laws and likewise qualify for
deduction against income tax, to the extent of 50% of adjusted gross
income in the year the gift is made. Any excess over the 50%
limitation may be carried forward to subsequent years.
The Community Foundation of
Sanibel-Captiva is affiliated with the Southwest Florida Community
Foundation, which handles its administrative duties. The Southwest
Florida Community Foundation has assets in excess of $45 million, and
has distributed more than $24 million, to support non-profit agencies
in Southwest Florida since its founding in 1976.
The Foundation has been
granted tax exempt status by the Internal Revenue Service as a public
foundation under Section 501 (c)(3) of the Internal Revenue Code.
The financial records of the
Foundation are audited annually under the strictest standards as
established for charitable organizations. The Board and staff are
proud of the fact that the Foundation operates with an annual
administrative expense of 1.65% of its assets which is well below the
national average for similar organizations.
