Faith Community Foundation
Faith Community Foundation (FCF) is an independent Public Community Foundation.
The committee formed in January 2005, discussed at length the benefits and liabilities associated with various types of relationships between Faith Community Foundation and other charitable organizations. The committee agreed that in the final analysis, two alternatives existed. Either Faith Community Foundation could be controlled by another organization and be described as a supporting organization under code section 509 (a) (3) or FCF could be an independent, separate entity that is loosely affiliated with other like-minded charitable organizations. After discussing and evaluating the experiences of others, the committee agreed that forming an independent, separate not-for-profit organization was the wisest choice.
The committee explored the various options to provide assurance to other like-minded organizations that Faith Community Foundation would not waiver in its theological positions nor depart from its founding principles. Three key factors were identified by the committee to provide the greatest assurance that the purpose and direction of FCF would be preserved. First, the committee determined that the adoption of a clearly articulated doctrinal statement is vital. Second, the committee agreed that developing and preserving well conceived qualifications for serving on the Board of Directors of FCF would be essential. Third, preserving the independence of Faith Community Foundation is a vital element to achieve its mission.
The Faith Community Foundation By-Laws adopted on January 18, 2006, provide that a “super majority” of nine votes from the ten members of the board of directors will be required to change the doctrinal statement or the qualifications of Faith Community Foundation board members. One charitable organization, Faith Baptist Bible College and Theological Seminary, has the right to appoint two members to the ten member FCF Board of Directors. Furthermore, the FCF Bylaws prohibit more than two of its number from serving who are affiliated with another entity or any other entity that would have constructive control of Faith Community Foundation.