FAQs About Us
What is the Hampton Roads Community Foundation?
We are the largest grant and scholarship provider in southeastern Virginia. As a public charity, we have more than $240 million in assets and are the oldest community foundation in Virginia. We manage charitable funds started by individuals, families, businesses and foundations. From these funds we have awarded more than $180 million in grants and scholarships over the past six decades.
What geographic area does the Foundation serve?
We focus on Chesapeake, Norfolk, Portsmouth, Suffolk and Virginia Beach as well as Franklin and Isle of Wight County. We have affiliate community foundations on the Eastern Shore of Virginia and the Virginia Peninsula.
How do Foundation funds work?
All funds are used exclusively for charitable purposes to provide grants to nonprofits or scholarships for students. Most funds are permanent endowments that grow over time and provide a portion to be used for grants and scholarships each year. Funds share modest administrative expenses on a pro rata basis. Assets are invested in our master portfolio unless a donor specifies otherwise.
Who governs the Foundation?
A 14-member Board of Directors governs us and approves all grant and scholarship distributions from funds. Our board also has one ex-officio member. Current board members are John O. "Dubby" Wynne, chair; Paul O. Hirschbiel Jr., vice chair; Jody M. Wagner, treasurer, Gilbert T. Bland, R. Bruce Bradley, Macon F. Brock, Rev. Harold J. Cobb Jr., Andrew S. Fine, Mary Louis LeHew, John F. Malbon, Vincent J. Mastracco, Charles W. "Wick" Moorman and Louis F. Ryan.
How do you invest Foundation funds?
We specialize in endowed funds that enable us to make grants and provide scholarships while resources grow over time. To accomplish that assets are invested by financial institutions and investment firms for long-term performance. Our board sets investment policies and monitors performance with help from our investment committee and investment advisor. Our accounts are audited annually by an independent accounting firm. We post investment performance monthly on our website and publish results in our annual report.
How do I make a gift to the Foundation?
You can make a gift of any size today or in the future. Your donation can be a current gift made online or with a check, a stock transfer, a gift of real estate or other assets. Future gifts can come through a bequest, a charitable trust or other planned-giving vehicle. If you donate $25,000 or more you can create a named fund and specify the purpose of the fund. Smaller gifts are added to our community funds for grantmaking or to an existing fund. In either case, gifts are permanent and will grow with time while providing grants or scholarships unless you direct otherwise.
What types of funds can I establish?
We offer a variety of simple, flexible and effective options, including:
- Unrestricted funds, which allow us to award grants to meet changing needs in our region over time
- Field of Interest funds, which address specific areas of concern that you name, such as the arts or healthcare, while allowing us to select specific nonprofits to receive grants
- Designated funds, which let you name one or more specific nonprofit organizations to receive grants.
- Scholarship funds, which help students pay for their education.
- Donor advised funds, which let you remain involved by recommending nonprofit organizations to receive grants.
- Organizational funds, which let nonprofit organizations create funds that generate grants for their own uses.
How does the Foundation benefit our community?
We are a catalyst that links community leaders, donors and organizations to tackle key issues. We award grants to nonprofit organizations in our region and help area students by providing college scholarships. Over the decades we have distributed nearly $180 million in grants and scholarships for charitable purposes -- almost $15 million in 2012 alone.
How does grantmaking work at the new foundation?
Nonprofit organizations are encouraged to apply for grants, which are awarded quarterly from unrestricted and field of interest funds. Please check our grant guidelines for details. Nonprofit organizations will find it helpful to subscribe to our monthly Grant Seekers Gazette, an e-newsletter with timely new & updates about Foundation grants.
What should I do if I have already arranged for a future gift to one or both of the foundations?
Thank you for your generosity and commitment to your community. If you have named either The Norfolk Foundation or The Virginia Beach Foundation in your estate plans you do not need to make any changes for a future gift from your estate to go to the Hampton Roads Community Foundation. If you have questions or would like to be included in our Legacy Society for Hampton Roads, please contact Debbi Steiger, regional vice president, at email@example.com or (757) 622-7951.
What is the vision of the Foundation?
To be the premier provider of philanthropic services in southeastern Virginia offering:
- Community impact
- Regional leadership
- Personal philanthropy