Recent News

Disaster Relief Fund

An effective response, regardless of where a natural disaster occurs, requires sustained involvement on behalf of donors, responding organizations and a myriad of other actors.  The bulk of disaster dollars are often allocated during the emergency humanitarian relief phase (with a focus on emergency food, shelter, water, sanitation and health care).  Emergency relief is vital.  Still, experts agree that disaster relief dollars are insufficient to meet the medium- and long-term needs of disaster-affected communities. 

 Community Foundation of Western Virginia, Inc. (d/b/a Foundation for Roanoke Valley and Martinsville Area Community Foundation) has established a Disaster Relief Fund in order to respond to  catastrophic events as they occur.

 How will the Disaster Relief Funds be used?

100% of all donations (except any online credit card processing fees) will be used to respond to the complete timeline of the disaster management effort: from immediate relief to recovery, and then to reconstruction and rebuilding.

Who will the funds support?

The Disaster Relief Fund will support nonprofit organizations and public entities that have a defined role in short-term and long-term recovery efforts by providing critical services to individuals, families and communities impacted by the disaster.  Each nonprofit or public entity who receives disaster relief funds will be carefully vetted by the Foundation to insure the most effective and efficient use of the monies raised.

How can I make a donation?

Donations can be made online here. Checks can be mailed to Martinsville Area Community Foundation at P.O. Box 1124, Martinsville, VA  24114. Please designate your gift for “Disaster Relief”.  Donor Advisors may also recommend a grant to the Disaster Relief Fund by submitting a Donor Advised Fund Grant Recommendation Form.  All gifts are tax-deductible.

Types of Gifts

The Foundation has lots of flexibility in serving the needs of donors. We enable you to create an endowment fund using a wide variety of gift techniques, such as those shown. We always encourage you to discuss these ideas with your attorney, accountant or other professional advisor, as this information is not intended as legal advice.

OUTRIGHT GIFT
Cash - You may establish a fund through an outright gift of cash. This is a simple and convenient way to give and receive tax advantages.

Appreciated Securities - Gifts of appreciated securities are particularly attractive to donors. When you transfer ownership of the securities to the Foundation, you avoid capital gain on the appreciation. The Foundation is a public charity, meaning that it qualifies for the best available treatment under current tax laws and offers full market value deductions.

Property - Some donors may also choose to contribute real or tangible property as the initial assets of the fund.

BEQUEST
You may start a fund through a bequest in your will. Some donors designate a specific dollar amount or a percentage of their estate. Others simply leave the residue of their estate to the Foundation to create their named fund. Bequests are usually fully-deductible for federal and state tax purposes.

LIFE INSURANCE
If you have a paid-up life insurance policy that you no longer need for your family's protection, you could consider giving it to the Foundation to establish a fund. Such a gift would qualify for an income tax deduction. If the policy is not fully paid-up, you may continue to pay the premiums and receive tax deductions for the amount of the premiums.

CHARITABLE REMAINDER TRUST (CRT)
A CRT enables you to provide a lifetime income to yourself, your spouse, or other beneficiary and provide the trust principal to the Foundation at your death. This principal is then used by the Foundation to create a permanent fund named for you or a loved one to forever carry out your charitable wishes.

CHARITABLE LEAD TRUST (CLT)
A CLT enables you to provide current support to the Foundation through annual payments from the trust's income for a period of years. These payments could flow into a permanent endowed fund named for you. Upon the termination of the trust, the principal would go to beneficiaries such as your grandchildren or others.

CHARITABLE GIFT ANNUITY
The Foundation does offer charitable gift annuities. The minimum is $10,000. Please contact us for more information on these life-income vehicles.

PRIVATE FOUNDATION TRANSFER
For some trustees of private foundations, the demands of administering and making grants from their foundation become burdensome. The assets of the private foundation can be transferred to the public community foundation, and a fund carrying the same name as the private foundation would be set up. The trustee could continue to be involved with the fund as an advisor but without any of the administrative headaches. The fund would also be relieved of excise taxes and most other regulations.