ESTABLISHING A FUND
A great way to make a lasting impact and fulfill your charitable goals is to create a fund with the Suffolk Foundation. The Suffolk Foundation is a publicly supported philanthropic institution governed by a board of private citizens chosen to be representative of the public interest and for their knowledge of the community. A community foundation administers many individual funds contributed or bequeathed to it by individuals, other agencies, governments, corporations, and other sources. The Foundation encourages and helps donors achieve their charitable giving objectives. Explore our current fund types below.
how funds work
The Suffolk Foundation accepts contributions from individuals, businesses, foundations and other nonprofit organizations and 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 that the donor wishes to recognize. The Foundation accepts gifts of cash, securities, real estate, trusts, bequests and other non-cash assets to establish or add to a fund. There are numerous ways to give to the Suffolk Foundation. If you are considering establishing a fund with the Foundation, it is recommended that you seek advice from a financial or legal advisor, and/or a C.P.A. The Executive Director of the Foundation would be happy to assist you with the timing and the completion of the necessary documents to finalize your gift.
Unrestricted Funds
A named fund requires a $10,000 minimum gift.
Field of Interest Funds
A minimum gift of $10,000 is required.*
Donor-Advised Funds
A minimum gift of $25,000 is required.*
Designated Funds
A minimum gift of $10,000 is required.*
Scholarship Funds
A minimum gift of $25,000 is required.*
Memorial Funds
A minimum gift of $10,000 is required*
Agency Funds
Administrative Funds
The Foundation incurs expenses involved in the management and operation of community funds. To offset these costs, an administrative fee of 0.25% per quarter of the total fund balance will be assessed against all funds. Also, financial management fees will be assessed to all funds based on the cost incurred by the Foundation. Fees charged will be calculated quarterly. Davenport Asset Management has been selected to manage the Foundation’s financial investments. The Foundation receives monthly reports from Davenport Asset Management. The Davenport Asset Management team meets with the Board semi-annually to personally review the investment portfolio.
With respect to all distributions, the Foundation will conduct a thorough review of prospective recipient organizations, and reviews outcome reports at a project’s completion. It is the responsibility of the Foundation to investigate allegations of improper use of grant funds for the private benefit of any individual and to see that grants are used by the grantees exclusively in the furtherance of charitable purposes.
Current Funds
Fund Name | Fund Type |
---|---|
Community Impact Fund | Unrestricted Fund |
Thomas H. III and Constance P. Birdsong Endowment | Unrestricted Named Fund |
Thomas H. III and Jane Birdsong Trust | Unrestricted Named Fund |
Ann Godwin Moore Fund | Unrestricted Named Fund |
Charles B. III and Juanita Pond Fund | Unrestricted Named Fund |
Heirs of Angus Henderson Hines, born July 2, 1857 | Unrestricted Named Fund |
Mr. and Mrs. Michael W. Wendel/AVW Technologies Fund | Unrestricted Named Fund |
George T. Everett Memorial Fund | Memorial Fund |
R. Curtis and Martha Godwin Saunders Memorial Fund | Memorial Fund |
Next Step Operating Endowment | Operating Fund |
The Harry & Lisa Cross Administrative Fund | Administrative Fund |
Women’s Impact Fund | Field of Interest Fund |
The George & Sue Birdsong Endowment Fund | Donor-Advised Fund |
The Scott & Heather Carr Fund | Donor-Advised Fund |
The Harrell Fund | Donor-Advised Fund |
Katherine S. Harrision Fund | Donor-Advised Fund |
Richard F. III and Carolyn Barry Fund | Donor-Advised Fund |
Dwight and Jane Schaubach Fund | Donor-Advised Fund |
Cross Family Fund | Pass-Through Donor Advised Fund |
Host Family Fund | Pass-Through Donor Advised Fund |
Brian and Caroline Martin Family Fund | Pass-Through Donor Advised Fund |
David and Debbie Russell Family Fund | Pass-Through Donor Advised Fund |
Hall Family Fund | Pass-Through Donor Advised Fund |
DiStasio Family Fund | Pass-Through Donor Advised Fund |
White Family Fund | Pass-Through Donor Advised Fund |
Charity for Needy Fund | Designated Fund |
Dottie Scott Elizabeth River Artists Fund | Designated Fund |
Reynoldson Baptist Church Fund | Organizational Fund |
Disaster Relief Fund | Designated Fund |
Rawls Museum Arts Ella F. Rawls Fund | Designated Fund |
Amadas Industries Stanley A. Brantley, Jr. Memorial Scholarship | Scholarship Fund |
Allfirst Memorial Scholarship | Scholarship Fund |
Ossie S. & Thomas F. Blair, Jr. Memorial Scholarship | Scholarship Fund |
Col. Fred V. Cherry Scholarship | Scholarship Fund |
DiStasio Health Professions Scholarship | Scholarship Fund |
Louis & Mary Haddad Foundation Scholarship | Scholarship Fund |
William N. (Billy) Hill Scholarship | Scholarship Fund |
Howard D. Mast Memorial Scholarship | Scholarship Fund |
Lewis F. Morris Memorial Scholarship | Scholarship Fund |
Amy Phelps Art Scholarship | Scholarship Fund |
Suffolk Business Women Scholarship | Scholarship Fund |
Audrey B. Butler Memorial Scholarship | Scholarship Fund |
James M. Blair Memorial Scholarship | Scholarship Fund |
Samaritan Internship Scholarship | Scholarship Fund |
Otha S. Rountree Scholarship | Scholarship Fund |
Chuckatuck Volunteer Fire Department Scholarship | Scholarship Fund |
Suffolk Education Foundation Fund | Agency Fund |
Suffolk Humane Society Fund | Agency Fund |
Suffolk Recreational and Charitable Association Fund | Agency Fund |
To find out more about establishing a fund with the Suffolk Foundation contact
Win Winslow, Executive Director of the Suffolk Foundation:
757-923-9090 or gro.noitadnuofkloffus@wolsniww.