Philanthropy
Featured Organizational Fund: Hope House Foundation Fund
In 2002 Hope House created a community foundation endowment to provide "for the long-term financial health of the organization," says Lynn Seagle, Hope House president. Over the years the original $100,000 donated to start the endowment has been enhanced by donors to Hope House.
In 1964 a group of Hampton Roads parents with adult children with disabilities created the Hope House Foundation to give them caring, supportive places to live. Over the decades Hope House has specialized in providing homes and services that enable Hampton Roads adults to live as independently as possible in inclusive communities. It owns small apartment buildings where clients with disabilities live as neighbors with a mix of people.
In 2002 Hope House created a community foundation endowment to provide "for the long-term financial health of the organization," says Lynn Seagle, Hope House president. Over the years the original $100,000 donated to start the endowment has been enhanced by donors to Hope House. Each year the Hope House Foundation has the option to take a distribution of 4.5% of the balance over 12 trailing quarters or to let funds grow even larger.
In 2015 when a donor left a $500,000 bequest to Hope House, the organization knew exactly what to do with it – add it to its endowment – to help it grow and be able to help more people in the future.
