The Wellsboro Community Foundation, Inc. was incorporated on October 22, 2004 in response to local individuals wanting to provide financial support for specific charitable purposes.  The Wellsboro Community Foundation has received Recognition of Exemption under Section (501(c)(3) of the Internal Revenue Code.  Contributions are tax-exempt.  The Foundation is also qualified to receive tax-deductible bequests, devises, transfers or gifts of the Code.

The purposes of the Foundation are to enhance the quality of life in the Wellsboro Area School District, Tioga County, Pennsylvania through the promotion of philanthropy and the facilitation of charitable donations and charitable distributions, including but not limited to the awarding of educational scholarships to area students.
           
The Foundation helps people make their charitable giving as effective and efficient as possible as a result of pooling of resources and operations for the different endowments.  The Foundation also helps local nonprofit organizations as a source of funds and as a way to build endowments for future use.

The Foundation has developed six different endowment funds that a donor can choose when making contributions.  Those funds are:  field of interest endowment, corporate endowment, donor advised fund, unrestricted endowment, donor advised pass-through non-endowed fund, and scholarship endowment.

The field of interest endowment is established to support, from income earned on the fund’s assets, a specific charitable purpose or area of interest rather than a specific entity. 

The corporate endowment is established by a business or entity to support, through income earned on the fund’s assets or principal, a specific charitable endeavor recommended by the donor.

The unrestricted endowment is established to provide support, from income earned on the fund’s assets, for general charitable and educational purposes and activities at the discretion of the Foundation.

The donor advised pass-through non-endowed fund is established to support, from income or principal of the fund charitable recipients recommended by the donor, but the Foundation is free to reject any and all recommendations.

The last fund is the scholarship endowment fund.  It provides support, through income earned on the fund’s assets, by awarding scholarships to deserving students who satisfy the criteria contained in the scholarship endowment fund agreement.  The scholarship endowment is established by the donor to benefit students who are committed to pursuing a post-secondary education.  The scholarships would provide those students with the financial support needed to obtain a degree from an accredited university, college or technical school of the recipient’s choice.  A Scholarship Advisory Board is part of the Foundation’s structure.

For additional information regarding the Wellsboro Community Foundation, please contact Mary Worthington, 570-724-0636.