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Types of Funds
You can create with the Eastern Shore of
Virginia Community Foundation (ESVCF) a new gift fund, add to an existing
fund or let the Foundation determine where assets will best meet your
charitable goals. Funds are structured to help gifts grow over the years and
work forever to benefit nonprofits in the counties of Accomack and
Northampton. The Foundation offers a number of simple, flexible and
effective ways for you to improve our community through philanthropy. The
types of funds are:
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Donor Advised Funds -
These funds allow donors to be involved in recommending the nonprofit
organizations that will receive grants from their funds. By creating donor
advised funds donors can meet their interests in years to come by
establishing one single fund.
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Unrestricted Funds –
These funds carry no restrictions as to the specific nonprofits that will
receive grants from the fund. The ESVCF board will recommend to The Norfolk
Foundation, which administers fund assets, grants to support a broad range
of needs in Accomack and Northampton counties. Unrestricted funds enable the
Foundation to respond to areas of greatest need now and in the future.
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Field of Interest Funds
– A donor can select a particular area of interest for grantmaking. ESVCF’s
board will recommend to The Norfolk Foundation specific grant recipients
within a donor’s chosen area. Examples of areas of interest include
education, the arts, health, and the environment.
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Designated Funds – These
funds let donors name specific nonprofit organizations to receive support.
These funds are an effective and efficient way for a donor to provide for a
favorite charity through a permanent fund.
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Scholarship Funds –
These funds help deserving students reach their educational goals.
Professional handling of applications, selection of scholarship recipients,
and administration of the scholarship are effected through the ESVCF
affiliation with The Norfolk Foundation, which conducts an extensive
scholarship program. Donors can gain satisfaction in knowing that they have
helped students achieve one of life’s most important goals.
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Organizational Funds –
These funds are established by nonprofit organizations to generate funds for
their own uses.
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