Types of funds you can choose:
Unrestricted
The unrestricted fund was Ben Franklin’s favorite: a bequest
with no strings attached. The future, after all, holds
unimagined problems. Could a donor in the 1950s have
foreseen today’s need for improved early care and education
for children or the growing need to help homeless families?
Field of interest
Field of interest funds benefit nonprofits working in areas you
select. Possibilities include improving education or helping with
the arts or the environment. Any charity working in our region
in the fields you name can apply for grant assistance.
Designated
You tell us exactly which IRS-approved, 501( c) 3 charity or
charities you wish your fund to benefit.
Scholarship
Your fund provides financial assistance for students seeking
an education. Scholarship funds can benefit students
from a certain city or high school, students coming from
disadvantaged backgrounds, or students planning certain
kinds of careers.
Mixed
Feel free to mix and match. You might wish to designate,
say, 25 percent of your fund’s annual payout for your place
of worship, another 25 percent for your alma mater, while
investing the rest to address a number of community needs.
Designated fund example
The Isaac and Sarah Lee Baker Memorial Fund established in 1995
provides grants each year to the Norfolk Botanical Garden, which
was a place of serenity the Norfolk couple enjoyed during their long
marriage. Their designated fund is one of more than 35 such funds
administered by the Foundation. Designated fund donors all named
special charities to receive annual grants. Recipients include Children’s
Hospital of The King’s Daughters and the Virginia Symphony as
well as Norfolk Public Library and places of worship.
Mixed fund example
The Perry and Bunny Morgan Fund, created in 2000 from the estate of the
former publisher of The Virginian-Pilot, has already helped more than
80 students from Hampton Roads attend college. The fund has provided
grants in memory of the Morgans to the Beach Health Clinic, St. Mary’s
Home for Disabled Children, The Chrysler Museum, Virginia Musical
Theatre and many other arts and human service organizations.
hamptonroadscf.org 3
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24