Community foundation praised for its stewardship and responsibility | Business

The Central Kentucky Community Foundation has been recognized nationally for its financial stewardship, accountability, and transparency by a longtime leader in the philanthropic industry.

Through a review process conducted by the Council on Foundations, CKCF was granted three-year re-accreditation with the National Standards for US Community Foundation. CKCF first achieved this recognition in 2014.

National Standards accreditation exemplifies the highest standards of operational excellence and integrity in community philanthropy and remains a voluntary effort ensuring accountability and compliance beyond legal requirements, according to a press release issued Monday.

“It’s a real honor to be awarded this accreditation,” said Matt Hess, Chairman of the CKCF Board of Directors. “Philanthropy is constantly evolving, so being recognized for having this level of expertise assures our donors and our community that we maintain the highest level of service. This is a testament to both our current and former Board of Directors who have set high standards and the staff who strive daily to exceed the expectations of our donors.

Established in 1960 as the North Central Education Foundation, the Central Kentucky Community Foundation is now one of more than 780 community foundations in the United States. CKCF serves a nine-county region that includes Breckinridge, Grayson, Hardin, Hart, LaRue, Marion, Meade, Nelson and Washington counties. Since its inception, the foundation has awarded millions of dollars in scholarships and offered expanded philanthropic service in these communities.

The National Standards for US Community Foundations program requires community foundations to document their policies for donor services, investments, grantmaking, and administration.

With more than 500 accredited community foundations nationwide, the program is designed to provide quality assurance to donors, as well as their legal and financial advisors.

“This is extremely important to our donors,” said Davette B. Swiney, President and CEO of CKCF. “When people make a charitable bequest or establish a fund, they trust us. They rely on us to manage the investment wisely and honor their charitable wishes forever. National standards accreditation indicates that our house is in order.

This accreditation allows CKCF to offer the Endow Kentucky tax credit to donors. Endow Kentucky is available to any Kentucky taxpayer, business or individual to receive a state tax credit of up to 20% of their charitable donation to a permanent endowment at CKCF. The credit is in addition to the normal federal deduction for a charitable donation.

A statement from CKCF says it offers a range of charitable funds, allowing donors to support an individual organization, provide flexible support to community needs or recommend individual grants. Accreditation also validates CKCF’s grantmaking practices for the nonprofit community.

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