Types of Funds / Beach Fund

Frequently Asked Questions about the Beach Fund

1. What is the Beach Fund?
   It is a group of adults, ages 25 and up who are interested in learning about philanthropy and in helping their community.
   
   
2. How did it start?
   The Beach Fund began in 1998 as part of The Virginia Beach Foundation and continued when the foundation merged with The Norfolk Foundation to form the Hampton Roads Community Foundation in 2010.
   
   
3. What is the impact of the Beach Fund?
   During its first 10 years, the Beach Fund donated nearly $100,000 to help nonprofits in Hampton Roads. While the group’s original focus was on adults ages 25 to 45, membership has been broadened to include adults of all ages who are interested in learning about philanthropy and community needs.
   
   
4. What are the membership requirements?
   If you are at least 25 years or older, are interested in learning about philanthropy and are willing to donate a minimum of $400 a year, then you are eligible for membership.
   
   
5. What happens to my donation to the fund?
   Your annual donation is pooled with donations from other Beach Fund members and its patrons into an endowment. From this donor advised fund, the Beach Fund awards annual grants to area nonprofits.
   
   
6. Who oversees the Beach Fund?
   The fund has a steering committee that helps plan Beach Fund events and oversees the grant process.
   
   
7. How are grants awarded? Beach Fund members review grant proposals from nonprofits each year and award grants to them. For 2010 the Beach Fund is focusing its grants on organizations that help children who live in the Lake Edward community in Virginia Beach.
   
   
8. What requirements do I have as a member?
   Your only requirement is to donate a minimum of $400 a year. But, we hope when your schedule allows that you will want to come to Beach Fund events to meet other members and learn about community needs and philanthropy. You also will have opportunities for volunteering. In the fall of 2010 Beach Fund members will volunteer with one of the organizations receiving grants.