The Community Foundation of the New River Valley Annual Report 2024-2025

PROVIDING RELIABLE, ANNUAL SUPPORT Designated Funds at the CFNRV

Pottery lesson at Floyd Center for the Arts (FCA.) The Center offers dozens of affordable classes each year.

T he CFNRV manages roughly 220 unique endowed funds, each with a specific focus set by the founding donor(s). Of these, 48 are designated funds, also known as agency funds, that provide an annual grant to one or more designated nonprofit organizations. These funds can be established by the nonprofit or by a generous donor wishing to support a cherished agency. The CFNRV invests the funds, provides all accounting and gift acknowledgment services, and issues a grant each spring to the nonprofit. In 2025, we awarded nearly $50,000 to nonprofit organizations from designated funds. Planning for the Future For nonprofit organizations, establishing a designated fund not only provides a stable annual funding source, but it signals to current and prospective donors that it is thinking about its own long-term sustainability and growth. The Floyd Center for the Arts established its endowment in 2025. “Creating a designated fund with the CFNRV was a meaningful step in securing the long

term future of the Floyd Center for the Arts,” shared Keela Dooley Marshall, the FCA’s executive director. “As we celebrate our 30th anniversary, we’re looking beyond the moment and building toward a future where the arts remain accessible and vibrant in our community. The CFNRV has been an invaluable partner in helping us lay this foundation for the decades to come.” New Endowment Becomes Largest Gift in the CFNRV’s History For individual donors, designated funds are a way to support their favorite organizations and leave a legacy that lives beyond them. Often, these donors have been longtime supporters or volunteers who know the organization and its mission well. Some start these funds during their lifetime to see the impact their dollars can have, while others establish an endowment through their estate. Recently, the Robert J. Watson and Joanne M. Watson Endowment was established at the CFNRV to provide annual support to Micah’s Backpack,

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THE COMMUNITY FOUNDATION OF THE NEW RIVER VALLEY

All photos courtesy of Floyd Center for the Arts.