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April 24, 2008                                                                                                      Contact Tom Pittman

For Immediate Release                                                              662.449.5002  tompittman@cfnm.org

Community Foundation of Northwest Mississippi in Top Philanthropic Tier Nationally

Local Organization Meets Rigorous Standards for Quality and Accountability

            The Community Foundation of Northwest Mississippi recently received notification that it has met the nation’s highest philanthropic standards for operational quality, integrity and accountability. The notice comes from the Council on Foundations, a national professional association based in Washington, D.C.

            “This is similar to the Good Housekeeping Seal for community foundations,” said Steve Gunderson, Council on Foundations president and chief executive officer. “It says that the Community Foundation of Northwest Mississippi has demonstrated a commitment to operational quality, integrity and accountability.”

The National Standards for U.S. Community Foundations Program requires community foundations to document their policies for donor services, investments, grantmaking and administration. With over 200 community foundations confirmed in compliance nationwide, the program is designed to provide quality assurance to donors, as well as to their legal and financial advisors.

“This is critically important to our donors,” said Tom Pittman, Community Foundation president and chief executive officer. “When people make a charitable contribution, establish a fund or include us in their estate planning, they are putting their trust in us. They are counting on us to manage the investment wisely, honor their charitable wishes and, in some cases, provide lifetime income to a loved one. The National Standards confirmation says our house is in order.”

The Community Foundation of Northwest Mississippi, which is headquartered in Hernando and serves eight counties, offers a range of charitable funds, allowing donors to advance a cause such as education or the environment, support an individual organization, provide flexible support for community needs or recommend individual grants. In addition to affirming the organization’s philanthropic services, the confirmation validates the Community Foundation of Northwest Mississippi’s practices for the nonprofit community.

“Some say it’s easier to create wealth than to give money away wisely,” said Pat Nelson, Community Foundation of Northwest Mississippi board chair. “There’s some truth in that. Grantmaking is a lot like investing… we need to assess risks, weigh potential gains, diversify assets, monitor performance and operate fairly. When you see the National Standards Seal, you can be assured that we’re committed to meeting the highest standards for grantmaking as well.”

The National Standards for U.S. Community Foundations program is the first of its kind for charitable foundations in the United States.

The Community Foundation of Northwest Mississippi was established in 2002 to connect people who care with causes that matter to the region’s quality of life. Through the contributions of more than 500 donors, the foundation has made grants of about $2 million to almost 200 nonprofit organizations. At the same time, its charitable assets have grown to more than $6 million.

The Community Foundation is governed by a volunteer Board of Directors:

Chairman Pat Nelson, Vice Chairman Dr. Barbara Smith, Secretary Mary Lee Brown, Treasurer Mike Anderson, Lynda Austin, Wayne Bartley, George Cossar, III, Jim Flanagan, Jackie Franklin, William L. Pride, Jr., Dr. Robert Seymour, Greg Taylor, Doug Thornton, Rob Tyner, Cynthia Ware

The Council on Foundations is a Washington, D.C.-based nonprofit membership association of more than 2,000 grantmaking foundations and corporations, with assets totaling more than $280 billion. The Council provides the opportunity, leadership and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good. For more information on the Council, visit its website at www.cof.org.  For more information on the Community Foundation of Northwest Mississippi go to www.cfnm.org or call 662.449.5002.