Donor Information
A gift to the Virden Area Foundation will provide long lasting benefits to the Virden Area. A donor may designate a specific beneficiary of the fund, designate a field of interest for the fund, or leave the decision making to the Board based on its knowledge of community needs.
Giving
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A gift of cash or securities to establish a named fund. Gifts may also be made as a memorial, and if requested, anonymously.
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A gift of life insurance.
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A bequest by will. The bequest may be in the form of a fixed amount of money or assets, or the residue of the estate.
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All gifts are acknowledged by an official receipt for income tax purposes.
Types of Funds
Community foundations are public charitable trusts, built by community, for community. Your gift to the Virden Area Foundation is invested in an endowment fund and the interest earned is granted back to charitable projects and initiatives in the community each year.
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Donors may choose from several types of funds with varying degrees of flexibility:
Endowment Funds
Endowment funds are investments established by community foundations to provide grants to their communities.
Gifts to a community foundation are held in endowment funds and invested. A portion of the income generated by that investment is distributed as grants into the community each year. The initial gift is never spent so it will continue to support and benefit your community forever.
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Community/Undesignated Fund
Community or unrestricted funds allow community foundations to support their community’s current needs and emerging opportunities. The community foundation accepts and reviews grant applications, and makes grants to local charitable charities and municipalities. Your gift to a community fund is a long-term investment that will have the greatest impact in your community.
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Donor Advised/Designated Fund
Donor advised funds combine the benefits of making a gift that will help your community forever with the ability for you to determine where you want your grants to have an impact. When creating a designated fund, the donor selects a specific charitable organization that will benefit from the gift. Annual earnings from a designated fund will be automatically granted to the chosen charity.
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Scholarship Funds
Scholarship funds are endowment funds that provide financial assistance to students instead of making grants to local charitable organizations. Establishing a scholarship fund with a community foundation will allow you to distribute scholarships or bursaries to deserving students in your community year after year.
In Memoriam Gifts
A gift to the Virden Area Foundation in memorial of a friend or loved one provides a lasting tribute and ongoing benefits to the community.