The Pinellas County Community Foundation was founded in 1969 exclusively for charitable purposes in Pinellas County. Under a Trust Agreement executed by all the financial institutions in Pinellas County with trust powers, a Board of Governors, which guides the Foundation, was formed. Each Board member is selected for knowledge of the educational, cultural, civic, moral, public and other charitable needs of the Pinellas County community.

In addition to setting policy for the foundation, the Board of Governors reviews requests for grants from not-for-profit organizations in Pinellas County and determines the organizations which will receive grants. The Foundation awards two types of grants: unrestricted grants, which may be used for operating expenses, and competitive grants, which must be used for projects of a durable nature.

The Foundation has been granted tax exempt status by the Internal Revenue Service as a public foundation under section 501 (c)(3) of the Internal Revenue Code.

Gifts made to the Foundation qualify under present law for exemption from taxation under the federal estate and gift laws and likewise qualify for deduction against income tax. At the end of calendar year 2006, the Foundation had assets of $68,873,425 and, during that same year, distributed over $2 million to non-profit agencies.

The financial records of the Foundation are audited annually under the strictest standards as established for charitable organizations. The Board of Governors and the staff of the Foundation are proud of the fact that the Foundation operates with an annual administrative expense which is well below the national average for similar organizations.