The Virginia Beach Foundation encourages donors to be involved in identifying and supporting projects of community importance. It welcomes the creation of named funds to honor the donor, the donor’s family, or other persons/organizations whom the donor wishes to recognize.

The Foundation offers the opportunity for donors to create several types of funds:

• Unrestricted Funds provide income that is distributed at the direction of the Distribution Committee. Perhaps the most important of all foundation assets, unrestricted funds enable the Distribution Committee of the Board of Directors to respond to changing regional needs as they arise.
• Income from Field of Interest Funds support programs and/or organizations in a field specified by the donor. Funds may be designated for a wide variety of community needs.
• Designated Funds support a specific nonprofit organization or program selected by the donor in perpetuity.
• With Donor Advised Funds, donors may make recommendations as to how the income from the fund is spent. The Distribution Committee welcomes this input and makes every reasonable effort to accommodate the donor’s wishes.
• Other fund-types available to donors are: Scholarship Funds, Pass-Through Funds and Special or Agency Funds.

With respect to all distributions, the Foundation conducts a thorough review of prospective recipient organizations.

In order to encourage donors to consider gifts of Unrestricted or Field of Interest Funds, the Foundation’s policy is to consult with the donor (or a representative of the donor) in connection with all material distributions from such funds.

Up to 5% of the total permanent endowment, annually, is available for distribution.