FirsTEAManagement (FTM) established the CCEF in 2005 to be the charitable arm of its client organizations. According to the Internal Revenue Service, the CCEF became the first 501c3 foundation in the USA whose mission is to fund eligible activities (i.e., prevention of community deterioration, community promotion, retention and attraction of businesses) for its 501c6 business organizations which otherwise are ineligible to qualify for such funding.
Throughout its history, the CCEF has secured grants and tax-deductible donations for its client organizations ranging from Essex County and Hudson County Local Arts Program grants for wall murals and Investors Foundation grants for program activities.
The CCEF has also conducted special events to promote inter-client comraderie and to raise funds, including “Baseball, BBQ, & Fireworks ” group outings at Somerset Patriots games. The CCEF is also the umbrella for the popular Tri-Community special events conducted annually for the Chamber of Commerce of the Oranges, Irvington Chamber of Commerce, and the Irvington Springfield Avenue Business Improvement District.
