Tuesday, May 31, 2016

The Power of Endowment: Feldman Chamber Music Society


In 1991 the Feldman Chamber Music Society board took a visionary leap of faith by starting a
Dover Quartet performed in 2016.
$70,000 endowment at the Hampton Roads Community Foundation.

Pete Morford, the Feldman’s board president, applauds that action by saying: “We would not be able to operate today without the endowment. We can count on it being there when we need it. Without the far-sighted people and the endowment they created, the Feldman would not exist.”

 

Since its establishment, the Feldman board has drawn nearly $150,000 from its charitable endowment to bring high-quality chamber groups like the Dover Quartet to perform in southeastern Virginia. Through investment growth and additional gifts, the Feldman endowment today is valued at more than $415,000.

 

The Feldman Quartet started in 1946 in Norfolk, VA.
The Feldman, which dates to 1946 when it formed as the Feldman Quartet under the direction of violinist Israel Feldman, was the first nonprofit to start an organizational endowment at the Hampton Roads Community Foundation. Today it manages more than 45 similar endowments. Each fund is designed to grow over time while benefitting the specific nonprofit that created it with the option to take an annual distribution.

 

If you want to explore how an endowment can help your organization, contact Kay Stine or Debbi Steiger at kstine@ hamptonroadscf.org or dsteiger@ hamptonroadscf.org.

Tuesday, May 24, 2016

Helping End Homelessness: Housing First Grants


Housing First looks to alter the traditional practice of moving homeless people into crowded
James Lewis is helped by Fatima Tomlin of JCOC.
shelters and transitional housing before locating permanent housing.
Since 2009, an effort in southeastern Virginia and the rest of the United States has focused on making “homelessness rare, brief and nonrecurring,” stays Suzanne Puryear, president of The Planning Council and a Hampton Roads Community Foundation board member.

The shift benefits both clients and shelters. Quickly securing permanent housing and providing services to help clients settle into stable lives, frees space in homeless shelters for emergency cases and lets agencies help more people. The average stay in Judeo- Christian OutreachCenter’s shelter in Virginia Beach has dropped from six months to 66 days, says Todd A.J. Walker, executive director of JCOC. This allows the nonprofit to serve 100 more people a year.
Samaritan House reports similar trends at its Virginia Beach family shelter, which like the JCOC has received Hampton Roads Community Foundation grants to help  implement Housing First strategies.
“Our clients are moving out of our shelters in 40 days now instead of 60. It’s about 30 percent less expensive for us,” says Angela Kellam, Samaritan House executive director.
Long-term success has improved with 86 percent of clients placed in permanent housing “still doing well after 24 months.” Community foundation funding has helped nonprofits leverage other resources. Samaritan House recently parlayed a $175,000 foundation grant into six national and state awards totaling $450,000, Kellam says.

Hampton Road Community Foundation grants have also helped boost the region’s supply of low-rent housing. Virginia Supportive Housing has built five studio apartment complexes in Hampton Roads that provide homes for formerly homeless citizens. The Richmond-based nonprofit is planning a sixth complex in the region.
“We couldn’t have done it without the foundation,” says Allison Bogdanovic, executive director. “We never had a partner with such a commitment to our work.”
“In all aspects, the foundation has been a critical player,” observes Andrew M. Friedman, director of Virginia Beach’s Department of Housing and Neighborhood Preservation. A foundation grant paid for a 2013 Virginia Beach housing crisis response study that led to positive changes. James Lewis, a former Judeo Christian Outreach Center client, knows personally the results of such efforts. The formerly homeless man now lives in a comfortable home and says: “The oars are there for me, and there are no holes in the boat,” he says. “Now I can get across the river.”

Wednesday, May 18, 2016

Helping Others: $1.8 Million in Grants Awarded to Area Nonprofits


The Hampton RoadsCommunity Foundation is looking forward to the impact its latest round of grants will have on southeastern Virginia. Grants were awarded in April 2016 from field-of-interest funds created by our generous donors. This round of Community Grants focused on environmental and facilities grants.

Habitat for Humanity South Hampton Roads was one of the nine area nonprofits awarded more than $1.8 million. Look for a Habitat for Humanity’s blitz build later this year to help nine Suffolk, Virginia families accomplish their dream of owning homes. The Hampton Roads Community Foundation awarded a $50,000 grant to Habitat's South Hampton Roads affiliate to underpin a blitz build fueled by area volunteers with caring hearts and building skills.

See all nine grant recipients and learn how they will utilize their awards to benefit our region.

Don’t miss our next grant opportunities:
  • Our Community Leadership Partners giving group is accepting applications through May 24 for organizations that help youth lead better lives. Learn more.
  • The next round of Community Grants focuses on health and human services in Hampton Roads. Applications are due July 1. Learn more.


Wednesday, May 11, 2016

Planning Ahead: Leaving a Charitable Bequest to Carry Out Your Wishes


We are sadden by the recent passing of internationally renowned musician Prince at age 57.
We’re also  surprised to hear Prince left no will with provisions for how he would like his estate (worth millions) as well as his music and other intellectual property (also worth millions) to be used going forward.
Wills, trusts, and other legal instruments can be an effective way to carry out your wishes even after you are gone -- whether you have millions of dollars or not.

Perhaps Prince's lack of a will shouldn’t come as such a surprise in 2016 considering that statistics show at least one of every two Americans does not have a will. Notable examples of famous people who died without wills or estate plans include Abraham Lincoln, Martin Luther King Jr., Howard Hughes, Jimi Hendrix and Bob Marley. In each instance, a last will and testament would have ensured the deceased's final wishes were carried and also have avoided controversy and legal battles among family members. 

As you consider what you’d like to do with your estate when you are no longer here,  think about the good a charitable legacy would do. Is there a nonprofit you eagerly donate to each year with gifts? Is there a cause you have been meaning to support? Using a will or trust or designating them as a beneficiary of your Individual Retirement Account or insurance policy could be a wonderful surprise for any nonprofit organization.

The Hampton Roads Community Foundation makes it easy for you to support a single organization or multiple causes with a future charitable gift. You can also leave a flexible gift to meet future needs you can't imagine today. Our bequest guide makes it easy to learn how to do this.
Our staff can work with your attorney, accountant or other advisors to help you plan ahead so you can help others forever. By adding a charitable gift to your will, you have the opportunity to continue to support your community and specific causes or organizations long after you are gone. There are many ways to plan for a future estate gift:


While gifts of all sizes are welcome at the community foundation, if your bequest is for $25,000 or more, you can have a charitable fund named for you or another family member or special person. Your endowed fund will grow forever while providing grants to nonprofits or scholarships to students following the directions you set in place in your plans. Your legacy will let you have a lasting impact on our community.
If you’re interested in earning more or ordering printed copy of "Adding Charity to Your Will or IRA," please contact Kay Stine, vice president for development at 757.622.7951 or kstine@hamptonroadscf.org. You can also learn more at leaveabequest.org.