Unrestricted gifts are often considered the most powerful form of private support, because no limitations exist on how the gifts are to be used. Unrestricted funds help the Foundation Board of Directors meet the College’s most pressing needs. They are particularly vital for initiatives and projects for which other sources of funding may be unavailable or inadequate. The Educational Foundation has made a commitment to distribute a significant portion of its unrestricted gifts to Virginia Peninsula’s faculty and staff in the form of a mini-grant designed to fund teaching and student success initiatives through a competitive application process.
Temporarily Restricted Gifts
Temporarily restricted gifts carry limitations on their use, as specified by the donor. Donors typically support a particular program or project with their gift.
Named annual scholarships may be established with an annual gift specifying scholarship criteria by the donor. Annual scholarships may be established in the donor’s name, company name and in memory or honor of someone special.
Permanently Restricted (Endowment) Gifts
Permanently restricted gifts (endowments) are established with a one-time gift or several cumulative gifts that, over time, earn enough interest to establish and sustain the identified program. Endowment funds can be designated for any purpose specified by the donor and may include scholarships, fellowships, professorships, lecture series, professional development or the enhancement of the College’s infrastructure and facilities. In all cases, the principal amount of the endowment gift is given with the understanding that the principal will remain intact.
In-kind contributions consist of non-monetary goods or services that the Foundation receives from corporations, individuals or other foundations. In-kind donations can only be accepted if they support current or future academic programs or technology. Examples of in-kind donations are gifts of equipment, such as computer hardware, software, laboratory instrumentation, and use of facilities. The value of in-kind donations is based on market value at the time of giving as verified by the donor.
Planned gifts will support the College in the future. Planned giving opportunities include naming Virginia Peninsula Community College Educational Foundation, Inc. as a beneficiary in your will, as a beneficiary of a pension plan or IRA, or as the beneficiary of a new or existing life insurance policy.
To make a tax-deductable gift by mail, online or to receive more information please contact us at:
Virginia Peninsula Community College Educational Foundation, Inc.
99 Thomas Nelson Drive
P.O. Box 9407
Hampton, VA 23670