City Council to consider formation of new Hayward Community Foundation
The Hayward City Council will consider later this month taking the first steps toward formation of a new Hayward Community Foundation to serve as a source of philanthropic support for local communities and their local nonprofit organizations.
Community Foundations are nonprofit organizations that utilize philanthropic contributions and grants to fund and provide administrative and other forms of support to community-based, community-serving nonprofits.
Funding for these foundations comes in many forms, including individual contributions, bequests and through corporate or foundation-based giving. They provide value through grant making and by facilitating the collective pooling of resources to reduce overhead costs of running a nonprofit organization.
The concept for a Hayward Community Foundation stemmed from the city’s new permitting program for would-be commercial cannabis operators, which requires applicants to describe potential community benefits they would bring to the greater Hayward community.
By creating a Hayward Community Foundation, commercial cannabis entities could provide community benefits through donations to the Foundation, which in turn would use its local expertise to channel the resources to nonprofit organizations addressing the most pressing community needs.