John Randolph Foundation works with donors and organizations to create enduring legacies through permanently endowed charitable funds.
To see how endowments work, please visit our blog post “The Power of Endowments”.
To see a list of our current funds, please visit our donation page.
TYPES OF FUNDS
- Administrative: Support the Foundation’s operations and help us carry out our mission.
- Agency: The donor and beneficiary of the fund are the same nonprofit organization.
- Award: This fund benefits a professional in a field of your choice via a nomination process.
- Designated: This fund supports one or more specific nonprofit organizations.
- Donor Advised Fund: The donor(s) recommends charitable grants from the fund each year.
- Field of Interest: This fund supports a cause area such as youth development, the arts, etc.
- Scholarship: This fund benefits a student(s) that meets your custom scholarship guidelines.
- Unrestricted: The Board of Trustees applies the fund to the area where it is needed most.
ESTABLISH A FUND
- Start by determining your charitable goals. For example, do you want to support a specific organization or a general field of interest such as youth development? Do you want to be involved in the selection process each year?
- Select the type of fund that best fits your goals. John Randolph Foundation staff can explain the advantages of each type of fund we offer.
- Create a name for your fund. You can use your name, the name of a family member, or the name of a favorite cause – or choose a name that allows you to remain anonymous.
- Sign a fund agreement. Our staff will personalize the document based on your wishes.
- If creating a donor advised fund, you may designate current fund advisors such as yourself and spouse, and successor advisors such as your children.
- Make an establishing gift. Some donors fund their endowment through an outright gift of cash or appreciated securities. Other donors choose to defer their gift through a bequest, a life insurance policy, or retirement assets.
For more information on establishing any other type of fund, contact Kiffy Werkheiser, Development Program Officer, at (804) 458-2239 or [email protected].