Carrying out donors’ charitable intent is fundamental to our mission. When a donor entrusts a multi-million dollar charitable fund to us, or a gift of $500, we pledge to use that money for the purpose expressed at the time of the gift. When a fund is permanently endowed, we are bound to uphold the donor’s original intent forever.
Forever is a long time, and if the original purpose should ever become obsolete, the Community Foundation for Palm Beach and Martin Counties will redirect the gift to a new purpose as close as possible to the original one.
As a community foundation* we are vested with “variance power,” that is, the ability to make those changes is built into our charter. Our Board of Directors oversees the implementation of these practices, and must carefully consider any request to exercise the variance power.
*The Community Foundation is certified under national standards for community foundations. Find out more about this certification at www.cfstandards.org