Tulsa Community Foundation
Encyclopedia
The Tulsa Community Foundation is the largest community foundation
in the United States. Headquartered in Tulsa
, Oklahoma
, as of January 2011 it was reported to have approximately four billion dollars in assets, and to have donated more than $580 million to local charities and government projects.
Tulsa Community Foundation is a tax-exempt, public charity organized in 1998. It was founded by Tulsa oilman, banker, and philanthropist George Kaiser
, who felt that Tulsa's historical dependence on unorganized private giving from its wealthy families was no longer effective. Beginning with gifts from seventeen local philanthropists, by 2006 Tulsa Community Foundation had grown to become the largest community foundation in the country, surpassing the New York Community Trust
. Kaiser's family foundation remains the largest contributor to the community foundation, which also manages about 600 donor advised funds.
In 2005, members of the United States Senate Committee on Finance
, and others, criticized the foundation structure (and that of other similar foundations) for arguably permitting givers to take tax deductions out of proportion to the actual amounts given for public charity, and for potentially allowing the donors to have effective control of the community foundation. Because the Tulsa Community Foundation (unlike some private foundations) is not restricted from making gifts to government agencies, it has also drawn occasional comment and criticism for its potential influence on local government.
Community foundation
Community foundations are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place...
in the United States. Headquartered in Tulsa
Tulsa, Oklahoma
Tulsa is the second-largest city in the state of Oklahoma and 46th-largest city in the United States. With a population of 391,906 as of the 2010 census, it is the principal municipality of the Tulsa Metropolitan Area, a region with 937,478 residents in the MSA and 988,454 in the CSA. Tulsa's...
, Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
, as of January 2011 it was reported to have approximately four billion dollars in assets, and to have donated more than $580 million to local charities and government projects.
Tulsa Community Foundation is a tax-exempt, public charity organized in 1998. It was founded by Tulsa oilman, banker, and philanthropist George Kaiser
George Kaiser
George B. Kaiser is an American businessman. He is the Chairman of BOK Financial Corporation. He is among the top 100 richest people in the world and one of the top 50 American philanthropists.-Early life and career:...
, who felt that Tulsa's historical dependence on unorganized private giving from its wealthy families was no longer effective. Beginning with gifts from seventeen local philanthropists, by 2006 Tulsa Community Foundation had grown to become the largest community foundation in the country, surpassing the New York Community Trust
New York Community Trust
The New York Community Trust was founded in 1924 to distribute the income from charitable funds established by will to improve the quality of life in New York City. It also offers services to living donors. It is one of the oldest and largest community foundations in the United States, and...
. Kaiser's family foundation remains the largest contributor to the community foundation, which also manages about 600 donor advised funds.
In 2005, members of the United States Senate Committee on Finance
United States Senate Committee on Finance
The U.S. Senate Committee on Finance is a standing committee of the United States Senate. The Committee concerns itself with matters relating to taxation and other revenue measures generally, and those relating to the insular possessions; bonded debt of the United States; customs, collection...
, and others, criticized the foundation structure (and that of other similar foundations) for arguably permitting givers to take tax deductions out of proportion to the actual amounts given for public charity, and for potentially allowing the donors to have effective control of the community foundation. Because the Tulsa Community Foundation (unlike some private foundations) is not restricted from making gifts to government agencies, it has also drawn occasional comment and criticism for its potential influence on local government.