The Community Endowment is a pool of unrestricted endowed funds established for the greatest flexibility and benefit of the Harrisonburg and Rockingham County community. The Community Endowment accepts gifts of any size and is the perfect vehicle for clients who simply want to give back to this community without designating a specific need.
Donor Advised Fund
A Donor Advised Fund allows donors to support charities and nonprofit organizations by creating a named charitable fund. Donors can recommend grants from this fund. A fund may be endowed (using only 4% spending annually) or non-endowed (entire balance available).
A Pass-Through is usually more temporary in nature. It enables the donor to make a single contribution to The Community Foundation of Harrisonburg & Rockingham County, either annually or through planned giving, and then advise distributions to various nonprofit organizations or charitable initiatives.
A Designated Fund enables donors to advise annual distributions from their funds to a single or to multiple charities as established by the donor when the fund is set up. The fund may be endowed or non-endowed.
Area of Interest Fund
An Area of Interest Fund allows donors to choose a specific area of interest for which they provide regular funding without limiting contributions to only one organization in that field. Distributions may be made to any nonprofit organization or charitable initiative that falls within the scope of that area of interest.
Scholarship Funds enable your clients to establish an endowment to fund annual scholarships based on parameters they define for the scholarships. The Community Foundation of Harrisonburg & Rockingham County will manage as much or little of the process as your client prefers. A minimum of $25,000 can create a scholarship fund. It is desirable for your clients to establish a scholarship fund while they are living, allowing our staff to work with donors through a cycle of distributing funds for students, addressing questions that will arise during that process. Funds are sent directly to the college the recipient chooses.
A Signature Foundation is a fund for the donor who has the means to leave a legacy of giving back to the community at $1,000,000 or more. Most Signature Foundations are endowed and usually bare the family name and symbolize the donors’ care and generosity to Harrisonburg & Rockingham County. This could be a gift from an individual donor or a transfer of assets from a private foundation where the private foundation name is retained as the fund name, and as a Signature Foundation at The Community Foundation of Harrisonburg & Rockingham County. These funds can be donor advised, designated or area of interest funds.
Corporate Donor Advised Fund
A Corporate Donor Advised Fund allows a corporation to establish a fund at a time that is best from a tax standpoint and then enjoy recommending grants to charities over a period of time.
Agency Funds enable nonprofit organizations to establish a fund for their benefit within The Community Foundation of Harrisonburg & Rockingham County. Organizations can gain greater diversification of investments than they could independently, while minimizing administrative burdens and expenses.
Agency Endowments are the same as agency funds except funds are endowed, distributing only 4% of an average value annually to a designated nonprofit.
A Fundraising Fund is set up to benefit a nonprofit organization or charitable cause. The Community Foundation of Harrisonburg & Rockingham County will acknowledge gifts, manage pledges and invest the funds on behalf of the charity for a small additional fee.