May 20, 2008

Media Release for the Community Foundation for the Twin Tiers
Contact: Marilyn Bok, Board Chair, 570-888-4759
For Immediate Release

Community Foundation for the Twin Tiers in Top Philanthropic Tier Nationally
Local Organization Meets Rigorous Standards for Quality and Accountability

The Community Foundation for the Twin Tiers (CFTT) 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 for the Twin Tiers 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 already 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 Marilyn Bok, Community Foundation Chair. “When people make a charitable bequest, establish a fund or set up an annuity, 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 CFTT 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 CFTT’s grantmaking practices for the nonprofit community.

“Some say it’s easier to create wealth than to give money away wisely,” said Bill Ransom, CFTT’s Board of Directors Vice-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 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.

The mission of the CFTT is to continuously improve the present and future quality of life in the counties served by the Foundation (Bradford, Sullivan and Tioga Counties in PA and Tioga County, NY). It establishes endowment funds from contributions of individual citizens, corporations, other foundations, other charitable organizations and government agencies for charitable purposes. As the endowment funds grow, the interest earned on these funds is used to make grants consistent with the goals and interest of the donor and, in the case of undesignated funds, to organizations or projects that serve identified community needs.

To learn more about the CFTT or in establishing a fund, you can contact the organization by any of these methods: telephone - 570-888-4759; fax - 570-888-2179; email - cftt@stny.rr.com.

CFTT is dedicated to making a difference locally "for good - for ever^TM"