Unrestricted Fund
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 Fund
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.
Designated Fund
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 Fund
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.
Donor-Advised Fund
A donor-advised fund allows the donor to make recommendations for specific charitable organizations they want to support.
Scholarship Fund
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
Community partnerships represent specific agreements where The Foundation receives and administers funds that benefit the area. This means serving as the fiscal agent for a community project, activity or fundraiser. This type of partnership is entered into after careful consideration by the Foundation’s Board of Directors.
Previous projects have been the Veterans Memorial in Danville and the Pittsylvania Pet Center.
Acorn Fund
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 by email or call our office at (434) 793-0884 to assist in creating a fund or with any questions about the above types of funds.