How to Manage Your Fund
In addition to processing your grant suggestions on time, we also work with you to tailor a grant program, check into a particular nonprofit, or fill you in on charitable needs and activities in the area. Below are tools to help you manage your fund.
- MySEVA (under construction)
SEVACF is excited to annouce the upcoming launch of our online fund management resource “MySEVA.” Coming in January of 2015, you’ll be able to access your account statements from any desktop, mobile, or tablet device at anytime.
- Suggest a Grant from a donor-advised fund to support a charity of your choice
- Add or Remove an Advisor to or from a donor-advised fund
Add to Your Fund
If you want to give cash, make your check payable to “Southeast Virginia Community Foundation” and write the name of the fund on the memo portion of the check.
Many donors prefer to contribute appreciated securities (since you receive the deduction for the current value, and pay no capital gains). If that’s the case, please contact the office at 757-397-5424 for procedures for giving securities.
Non-publicly traded securities
Non-publicly traded securities may also be appropriate gifts. For these, please contact our counsel Al Taylor at 757-629-0692. He can determine whether we can accept the gift and walk you through the process.
For further instructions on how to transfer assets and make deposits into your fund, please contact the Foundation office at 757-397-5424. We can provide instructions for donating securities.
Check Your Fund Statement
Fund statements will be mailed to you twice a year.
Fund Management Questions
How long does it take to issue a check?
If the organization quickly passes muster as an approved charity, a check will generally be sent within seven to ten days. If we need to review the charity to make sure it meets IRS standards, it may take two to four weeks. There are rare instances in which it takes longer than four weeks to make a grant. (i.e., the charity delays sending their 501c3 letter to us).
Do I receive a copy of the check?
Yes, when a check is issued, you will be sent a copy of the grant check and cover letter. Checks are sent directly to the charity.
Will the nonprofit know that the grant is from my fund?
Yes, unless you don’t want it to. A letter accompanies each check and notes the name of the fund from which the grant was made, and states that the grant was “made at the suggestion of [name]”. If you would like the gift to remain anonymous, please say so on your Grant Recommendation Form.
What kind of assets may I use to open my fund?
Funds may be established with the following: cash, securities traded on major exchanges, closely held stock, mutual fund shares, retirement plan assets, interests in limited partnerships, etc. We are skilled at evaluating unusual assets and have the flexibility to accommodate them when suitable for charity.