Community philanthropy is the goal-oriented attraction of funds, time, skills and other resources for the benefit of the public in a specific geographical area, i.e. in cities and districts. It nurtures and improves the quality of life within a specific community by
- solving local problems;
- encouraging collaboration between the nonprofit, State and private sector;
- developing local charitable traditions;
- implementing projects of vital importance to the local community;
- offering local residents opportunity to play a part in the growth of their community.
These goals are fulfilled by community foundations - charitable organisations that ascertain the needs of their local community, attract donations and other resources required for the fulfilment of important projects conceived by local residents, and oversee their implementation. Thus, community philanthropy develops in a planned and goal-oriented manner.