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Starting a Fund
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You can create a named with fund
with a gift of $25,000 or more. Gifts
of any size can be made to an existing fund or to any
of the family of Community Funds that support general
grantmaking, scholarships, arts and culture,
educational achievement, the environment, health and
human services, or civic leadership.
If you would like information on making a gift or
starting a fund in
memory or honor of a loved one, please contact Nan
Edgerton, vice
president of development, at
nedgerton@norfolkfoundation.org or (757) 622-7951 |
Creating a fund with The Norfolk
Foundation is a flexible and effective way to make a lasting
impact on your community and fulfill your charitable goals.
The Foundation provides an alternative to starting a private
foundation and accepts both current and deferred gifts. The
Foundation often plays an important role in donors’ estate
planning. Its staff members regularly work with potential
donors and their professional advisors to help people
achieve their charitable goals. As the largest grantmaker and scholarship provider in
southeastern Virginia, The Norfolk Foundation can help you
learn to explore ways your gifts can improve your community.
An individual, family, business, nonprofit organization or a
private foundation can open a fund and receive all the
benefits offered by the Foundation. These include
administrative and record-keeping services, timely
distribution of grants and assistance in identifying grant
opportunities for donors with donor advised funds.
To open a fund, follow these simple steps.
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Our staff can assist you in selecting
the appropriate fund to meet your interests and needs. Let us know if you need a copy of the latest Guide
to Giving or
read
it here Our staff can work with you
and your professional advisor to decide which
charitable
fund option works best.
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Work with our staff and your advisor to
determine the amount and date of your gift, the name of the
fund, eligible advisors if it is a donor advised fund, and
the purpose of the gift fund. Complete a
Charitable Gift
Form. Our staff is available to help you determine the
best ways to carry out charitable goals and benefit the
community.
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To create a named fund make an
irrevocable gift of at least $25,000 to the Foundation.
Gifts can also be added to existing funds or the Community Funds that support general grantmaking or community support
general grantmaking or specific concerns such as arts and
culture; civic leadership; educational achievement; the
environment; health and human services, and scholarships.
For types of assets that work well to establish funds click here.
Please
call the Foundation to
receive simple instructions for transferring appreciated
assets.
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The Foundation’s president will sign
the document and return a copy to you along with an
acknowledgement letter. This letter serves as your official
receipt, which must be retained for tax records. (Note:
Regardless of the number of distributions from a gift fund,
you need only this one letter for tax purposes.)
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