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What is the Virginia Western Educational Foundation, Inc.?
The Virginia Western Community College Educational Foundation is an independent not-for-profit 501(c)(3) organization founded in 1980 and dedicated to enhancing community awareness of the College; securing private and public funds for student scholarships, faculty development, and capital projects; and providing prudent fiscal management of monies and properties submitted to the Foundation. The Foundation’s mission is to foster life-long relationships that build advocacy and support for Virginia Western.
What are my options for giving?
The Virginia Western Educational Foundation receives gifts from individuals, corporations, and foundations. These gifts may be cash given through an annual gift or pledge. Other methods of giving include stock, personal property, and real estate. Charitable trusts, gift annuities, bequests and provisions, and paid up life insurance policies are examples of deferred gifts. Many corporations will also match gifts made by their employees to Virginia Western. Click here to see how you can support Virginia Western.
What is an endowment?
An endowment is an account where the interest earned from the principal provides a permanent source of funds for a particular purpose at the College. Interest may support a scholarship, faculty professional development, equipment purchases or special projects. Because an endowment’s principal is never spent, endowed funds create financial stability which allows Virginia Western to be less dependent on unpredictable sources of revenue, such as government support or grants. Virginia Western’s endowment funds are professionally invested and managed by the Foundation.
What endowment naming gift opportunities are available at Virginia Western?
Named endowment funds give donors an opportunity to associate the name of a family or individual with a project or program of lasting worth. Named endowment opportunities at Virginia Western range from scholarships to faculty and program support. Named endowment giving levels begin at $30,000 for a student scholarship and program support; and endowed teaching chairs begin at $100,000.
May I designate how my gift will be used?
Yes! You may designate your gift to support departments, programs, projects, or you may choose to establish a scholarship fund to support specific types of students. You may also opt to leave your gift unrestricted, which means support will be given to the areas of greatest need.
What is the difference between unrestricted and restricted gifts?
Unrestricted gifts provide funds to Virginia Western that are not restricted to specific program uses. These gifts provide resources for scholarships, incentive grants, faculty and staff professional development, and special projects. Restricted gifts may only be used for the specific purpose set by the donor or the endowed fund. Examples of restricted gifts are endowed scholarships, endowed program funds (i.e., the Liberal Arts Endowed Fund) or capital improvements funds. Virginia Western welcomes both restricted and unrestricted gifts. Unrestricted gifts are especially important and will provide flexibility to support areas of greatest need.
Are all gifts tax deductible?
Gifts to the Virginia Western Educational Foundation are fully tax deductible to the extent allowed by law. Consult with your tax attorney or financial adviser for more information.
Can I receive a tax deduction for equipment or supplies I give to Virginia Western?
Yes, the Educational Foundation will provide the College department or division you wish to make the in-kind donation to an Educational Foundation In-Kind Donation Form to be completed by the donor. For IRS purposes, the value of the donation must be set by the donor. The Educational Foundation and the College may not offer values for in-kind donations.
How is the Educational Foundation governed?
The Educational Foundation is governed by a board of directors that supports the college’s educational initiatives through annual and capital programs.
How can I find the Educational Foundation’s annual report?
Each year the Educational Foundation publishes Impact magazine for the benefit of its donors. The magazine includes reports on fundraising initiatives and summaries of audited financial statements.
To read the latest edition, click here.
What is the Educational Foundation’s fiscal year?
The Educational Foundation’s fiscal year is January 1st through December 31st.
How do I update my contact information?
Keeping our donor information current is very important to us. If you would like to make us aware of any change in your personal information, please contact:
Coordinator of Development
VWCC Educational Foundation
3093 Colonial Ave., SW
Roanoke, VA 24015