As a community foundation, one of our defining features is our ability to design and administer charitable funds that are unique to each individual donor. We have the great privilege of administering an ever-growing number of funds serving a wide range of charitable interests and community needs.
You are invited to either create your own community resource or give to any of our existing funds. We know establishing a fund is a big decision, but we make it easy by guiding you from start to finish.
3 Simple Steps to Creating an Endowed Fund
Let us help you act on your good intentions for the Dan River Region. We make it simple. If you are interested in learning more, please contact us or speak with your professional advisor.
Please contact CFDRR for help in planning your donation. We will be happy to assist you with any questions you may have.
An unrestricted fund gives The Foundation flexible, permanent resources in order to respond to the pressing and changing needs of the community. These funds are overseen by our Board of Directors, who set priorities for their use and determine how grants will be distributed to support the charitable needs of our community.
Field of interest funds support broad areas such as the arts, the environment or health. They can also be focused on a narrower interest such as children with cancer. Donors can participate in the grant-making process or utilize the staff’s knowledge in identifying worthy grantees.
Distributions from a designated fund are earmarked for a specific agency as determined by the donor at the time the fund is created. If a designated agency ceases operation, it falls to The Foundation to reapply the funds to a similar purpose in the community.
Agency endowment funds allow nonprofit organizations, or individual donors, to create a permanent and predictable source of funding dedicated to the organization. The agency can add to the fund over time as well as encourage individuals, organizations and businesses to make donations.
A donor-advised fund allows the donor to make recommendations for specific charitable organizations they want to support.
Scholarship funds can be structured to benefit students at any education level or eligibility may be available only to students attending a specific institution or studying a single subject.
Community partnerships represent specific agreements where The Foundation receives and administers funds that benefit the area. This type of partnership is entered into after careful consideration by the Foundation’s Board of Directors.
For example, we have worked with the local Goodyear Tire and Rubber Company, which hosts an annual 5K race to benefit education. The money from the race is given to us and then the company is able to award that money in the form of educational scholarships.
All fund types may begin as an Acorn fund. Acorn funds allow individuals, families and organizations to build an endowment over time. Donors are allowed five years to reach the minimum required to establish a permanent endowment.
Please contact us at (434) 793-0884 or by email to assist in planning a fund or with any questions about the above types of funds.