Community Foundation of the Virginias 2022 Annual Report

ENDOWMENT FUND OPTIONS Individuals, families or groups may wish to establish a permanent endowment fund. Donors may select the type of fund that best suits their charitable interests, name the fund, and determine how to fund it. A minimum of $10,000 is required to establish a fund. BUILD-A-FUND The Foundation’s Build -A-Fund option enables donors to develop a charitable fund over time. This opens the door to those who would like to give back to the community, but have felt philanthropy was out of reach. The fund is established by making tax-deductible contributions of $2,000 or more for up to five years. UNRESTRICTED This type of fund provides the Board of Directors the most latitude and flexibility in responding to changing community needs in the broadest areas of charitable interests for the present and future. FIELD-OF-INTEREST This type of fund addresses the particular areas of charitable interest or needs of the donor, but does not limit grants to a particular nonprofit organization. DONOR-DESIGNATED This type of fund allows donors to name one or more specific nonprofit charitable organizations or area of need to receive grants from the fund. DONOR-ADVISED This type of fund allows donors or an appointed Advisory Committee to make periodic recommendations for grant distributions from the fund. ORGANIZATION ENDOWMENT This type of fund allows nonprofit organizations to establish a named permanent endowment fund for their own benefit within the Foundation, rather than establishing and managing a separate fund or foundation. SCHOLARSHIP This type of fund provides opportunities for donors to aid area students in furthering their education. GIVING OPTIONS The simplest way to make a gift to the Foundation is with cash, however, there are many giving options available to make a lasting contribution to the community. 19