Giving Compass' Take:
- Katie Thomas Laible shares her takeaways from a conversation with David Okorn, the Executive Director of the Long Island Community Community Foundation.
- What can other nonprofits learn from LICF's model? David suggests that collaboration among organizations will be the best way for them to have a positive impact. What sorts of beneficial connections might you be able to foster?
- Learn lessons from another community foundation focused on local journalism.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
If you have charitable intent, the Long Island Community Foundation (LICF) is an excellent resource and probably one of the best kept secrets on Long Island. They provide all levels of philanthropic support, including research to help identify the best performing charities to fulfill your objectives, as well as vetting to ensure they meet best practice standards for charities. They review and evaluate to determine who’s getting the best outcomes, and how your giving may be most effective.
Since 2008, [David Okorn] has served the Long Island Community Foundation, becoming its Executive Director in 2010. We recently sat down with David to talk about this local division of the New York Community Trust, and what he sees from his unique vantage point of philanthropy on Long Island.
There are various options [for working with LICF] making it extremely flexible to meet ones charitable needs and desires. For as little as $5,000, one can name and establish a fund from which the creator(s) can recommend grants as small as $250 to nonprofit organizations of their choosing. Again, LICF will vet the organization to ensure they meet both financial and governance best practice standards. The fee for the service is either 50 basis points (1/2 of 1%), i.e. $500/year for a $100,000 fund, or 2.5% of grants made, whichever is greater. With a Donor Advised Fund, one simply recommends the organization(s) to which they would like to make a grant, and then LICF handles all of the back office support.
Read the full article about the Long Island Community Foundation by Katie Thomas Laible at Medium