Types of Funds
University professor Dr. Samuel Coppage's bequest created four designated funds to honor his family and help nonprofits they cared about.
6 Choices for Creating a Fund
Hampton Roads Community Foundation has a charitable fund for virtually every type of long-term giving. Below are our six major types of funds, and the people, families, organizations and businesses that started them. Click on the links and you will see an array of causes to support and gain ideas for creating your own charitable legacy.
Designated funds support one or more nonprofits forever. Organizations you select will forever receive annual grants in your name or the name you choose for your fund. Should the organization you name ever cease to exist, foundation staff and board members will find the closest use to benefit from your generosity.
Donor-advised funds let you recommend grants to organizations you care about, which can change from year to year. We have four types of donor-advised funds for you to consider. And, you can name successor advisors to remain actively involved after your lifetime. You can call on the Community Foundation's Leigh Evans Davis, Vice President for Donor Engagement, for personal assistance with your giving.
Field-of-Interest funds work well when you are passionate about a cause, like improving education or ending hunger. You direct the community foundation to choose recipients through a competitive grant process. Hampton Roads organizations work effectively in the areas you name.
Organizational funds let nonprofits start their own endowments to ensure a reliable flow of annual income.
Scholarship funds help students who lack the means pay for college tuition and expenses. Each fund's donor defined the criteria by which a student would be selected. In 2018-2019, more than 70 scholarship funds paid more than $1.4 million to send 413 students to colleges in Virginia and throughout the country.
Unrestricted funds give Hampton Roads Community Foundation flexibility to address issues in southeastern Virginia…today and in the future. Grants from these funds are awarded through a competitive process to a plethora of area nonprofits doing great work.
What is a "fund"?
Imagine a perpetual savings account. The principal grows while the interest does good in your name…forever. That is how our endowments work for you.