This week I'd like to explore the concept of philanthropy.  The definition of philanthropy according to Wikipedia is "the act of donating money, goods, time or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective..."  And, the meaning of the word in its original Greek form is "love for mankind".  These two definitions explain one of the key purposes of a community foundation.

In our last column, we talked about potential tax benefits of donating to certain charitable organizations.  However, taxes are just one piece of the equation for donors who want to be involved and see the results of their contribution help the community.  Community Foundations give donors that benefit, as we can connect directly to the causes they care about most.

Community Foundations provide flexibility by offering a variety of ways to give and to direct their giving.  Donors may choose a hands-on approach and become actively involved in the process of deciding where their funds go.  Others may choose to select an area of interest, like the environment, and will have the Foundation provide funds to organizations in the community that are working within this area.

Each year, the Foundation receives applications for funds from local community organizations that work hard to improve the quality of life in our city.  The Foundation's Grants Committee reviews applications and makes recommendations for funding based on community needs and priorities and the wishes of those who have provided donations.  The Committee is comprised of a number of volunteers from various walks of life and different parts of the city.  They are very busy this time of year making difficult decisions about who will receive funding.

Since the creation of the Surrey Foundation, we've granted over $800,000 to local charities - enabling philanthropy and making a difference in Surrey.  We're proud to continue this tradition next month, when we announce the successful applicants for 2007.