The foundation manages more than 700 funds with more than $655 million in assets.
The Women's Giving Alliance, established at the Community Foundation in 2002, has grown from five to 460 members and made $9.6 million in grants.
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Melbourne social enterprise Who Gives A Crap sold nearly 3 million rolls of toilet paper in 2014/15 and gave half the proceeds to WaterAid Australia, but co-founder Simon Griffiths says the donation would have been less had the startup adopted a non-profit model when it launched two years ago.