Foundation Insights

A Muse Focused on the Future

The Muse Writers Center in Norfolk is one of about 50 nonprofits that entrust the community foundation to manage their charitable endowments and help them grow.

The Muse offers literary and creative writing classes. Participants range from teens who are learning to express themselves to retirees with a lifetime of memories to share.

The organization started an endowment to ensure long-term viability by donating $25,000 in 2018.

The Foundation has been helping nonprofits like The Muse with their endowments since 1991.

To start a named endowment, an organization donates at least $25,000 to the community foundation. The Foundation invests the funds to grow over time and handles all paperwork and reporting related to the endowment.

Each year, the nonprofit can receive a grant check of up to 4.5% of the average daily balance over 12 trailing quarters. This ensures the endowment will grow as it provides the organization with annual payments that last forever.

Community foundation staff are here to help with questions and details. Contact Kay Stine, vice president for development, at (757) 622-7951 or via email.

Explore ways nonprofits can start endowments focused on the future, as The Muse did.

See a list of organizational funds at the Foundation.

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