Partnering Private foundations

[fmcapchaos]

I am pondering the Idea of creating a private foundation which is a 501c3 chertiable organization which can give and recieve grants. The sole purpose of this foundation would be to support the fire department and suppliment the department budget. Has this arrangement ever been tried before??

I have done the math, a department such as mine with a $200,000 budget can be supported with 2-3% of the interest of 6 - 8 Million invested. This would be a large undertaking but I think this would create a great future for the fire service.

[SkipKirkwood]

501(c)(3)

Tualatin Valley Fire & Rescue in Aloha, Oregon, has a "Community Services Trust" which, among other things, receives donations and disburses money for community benefit projects. I believe that it is a 501(c)(3) not-for-profit. www.tvfr.com.

Orange County Fire Authority (in California) recently started a foundation. I don't have any details. www. ocfa.org.

Seems like a good idea!