The Vandeventer Black Foundation, Inc. was founded in 2005 by the law firm of Vandeventer Black LLP. The Foundation is a non-stock corporation under the provisions of Chapter 10, Title 13.1 of the Code of Virginia of 1950, as amended. It was established as a charity under Internal Revenue Code §501(c)(3) with the goal of providing resources for charitable purposes. The Foundation accepts contributions from individuals, businesses, foundations and other non-profit organizations. Funds are held in trust and pooled together for investment purposes.
By-Laws of The Vandeventer Black Foundation establish a Board of Directors consisting of at least two and no more than ten persons who shall be U.S. citizens residing in or near those cities in which the firm has offices. Although the Foundation was formed by Vandeventer Black LLP, it was established as an independent entity with completely autonomous decision-making authority. The Foundation’s Board of Directors has ultimate decision-making authority in matters of fundraising, investments and grant-making. The Board of Directors is responsible for choosing future board members and replacement members.
The mission of the Vandeventer Black Foundation is to establish an endowment to serve charitable purposes now and in the foreseeable future. The Foundation is designed to be flexible so as to respond to needs as they arise.
The Vandeventer Black Foundation endeavors to support a broad array of charitable non-profit organizations working to enhance the quality of life. Thus the long-term goal of the Foundation is to award grants to support various charitable purposes in the communities in which we work and live.
Discretionary and Restricted Funds
Funds are segregated into two main categories, discretionary funds and restricted funds. Discretionary funds are the general funds contributed by donors with no special requests as to their use. The Vandeventer Black Foundation will also entertain requests to establish restricted funds which are dedicated to a specific purpose. The Foundation will establish restricted funds at its sole discretion. Currently, the Vandeventer Black Foundation has the following restricted funds: Carter Gunn Fund, Hugh Meredith Fund, Geoffrey Birkhead Fund, Daniel Khoury Fund, Braden Vandeventer Fund.
Grants from discretionary funds are limited to $5,000. Grants are not available for individual scholarships, operating expenses, event underwriting, debt reduction, travel expenses. The Foundation will consider matching grants.
Organizations may make proposals at any time of the year. Proposals should include:
– A complete description of the organization and its history
– Reason for current grant request
– Budgets and other attachments should be included as necessary
In addition, proposals must include the following:
– IRS determination letter
– Most current audit report
– Board contact information