Below is the presentation presented to New Berean on Sunday 8/24 to highlight the Hampton Roads Community Foundation (HRCF) organization. I you have any additional questions or comments, submit to Sister Erma and review or use the link at the bottom of this page. A team from the HRCF will address our concerns at the Victory Celebration on September 20th. Thank you for you patience and understanding.
Slide 1 – Introducing a protentional partnership between New Berean Baptist Church and Hampton Road Community Foundation. Below is a presentation to help us understand this partnership
Slide 2 – The HRCF organization operates with $510 million in total assets. There are 670 named funds at HRCF. In 2024-25, $1.8 million was awarded to 490 college students attending 88 colleges. Since 1950 HRCF has awarded over $420 million in grants and scholarships.
Slide 3 – HRCF provides a variety of funds in their portfolio. The Designated and Organizational funds are two being suggested to New Berean Baptist Church to support the request for “sustainable” resources. In this case, sustainable resources would be a pool of financial resources to be acquired through charitable gifts and contributions that would be used to sustain an organization or ministry for long-term purposes
Slide 4 -What is An Endowment?
- An endowment is a gift or financial resource given to an organization to perpetuate a stable income stream and provide long-term financial support for the organization’s mission or purpose.
- Perpetuity is a bond or other security with no fixed maturity date. It is an ongoing source of financial resources.
- Annually, a portion of the invested funds are disbursed to the funded organization.
Slide 5 – An endowment provides long-term financial support. It builds confidence in the giving community and provides them a way to give and invest in the organization’s purpose and mission.
Slide 6 – Why work with HRCF? It is a nonprofit organization with years of experience and stability
Visibility
The startup portion per organization is $ 25,000.
Reduced overhead
Slide 7 -The are two types of funds being considered to help New Berean establish a plan for long-term financial stability
- Organizational 1) Only the nonprofit can make contributions to the fund. 2) distributions are made annually by request, 3) Additional funds may be withdrawn when specific conditions are met and approved
Slide 8 – What organizations, ministries or groups who have already connected with HRCF? Some you may know and others not.
Slide 9 – If you have any additional questions or comments as stated above, submit them using the index card given or us the comment section below and we will review them.
Click on the link and fill out the page