The Cornwall Foundation was established in 2003 to make grants to nonprofits, community organizations, and civic entities that serve the residents of Cornwall. It solicits donations to fund grants primarily to meet one-time needs, to serve as seed money for new programs, or to respond to emergencies. To the extent donations are expressly designated as endowment funds or exceed what is required to fund current grants, they are added to a professionally managed endowment, the income from which is available for future grants. Unlike some nonprofits at the local level, the Foundation can accept gifts such as artwork, jewelry, or restricted stock.