In 1999 the Virginia Choral Society established an endowment fund. The endowment fund is based on the principal being invested and inviolate for expenses. Only the earnings from this fund can be used for operating expenses. The endowment fund is managed by trustees named by the Board of Directors, who report to the Board annually on the status of the endowment.
A gift to the endowment fund has the advantage of never being used up. Over time, earnings on the principal will far outweigh the value of the initial gift. Proceeds from the invested principal will initially supplement income from other sources. The Board of Directors hopes that in time the growth of the endowment will continue to grow in size and contributors support to greatly strengthen the Virginia Choral Society. To our many contributors, VCS is gratefully thankful for your support during the many years.
Since 1999, the VCS Endowment has grown from a humble beginning of a few donations to a substantial endowment corpus of monies. This has not been easy and the Society has received funds from many sources.
Galas. In March 2004, VCS held the First Annual Gala for our Capital Endowment Fund. This was very successful and added over $5,000 to our endowment fund. The 2nd Gala was held in Spring 2005.
VCS Sponsored Trips. Through the direction and support from Mr. James Powers (retired VCS Artistic Director) proceeds from the many trips to Europe, the fund has received great support.
Direct Contributions. With the support of many individuals and memorials, the VCS Endowment has further developed the endowment fund. Many of these gifts were “one-time” gifts and several others are recurring monthly contributions to the endowment fund.
Estate Gifts. Several bequests from estates have greatly contributed to the growth of the Endowment Fund. Of particular notice are the bequests received from the estates of Ms. Peggy Hewes and Ms. Katherine Bradshaw, as a memorial was directed to the endowment fund.
Investment Income. A direct benefit of the endowment fund is the income that is produced from the investments in the endowment funds. Over time, wise investments will continue to grow the endowment.
While the endowment fund has grown to over $700,000 since being established, the Society intends to continue fundraising initiatives (as noted above) for an additional increase to the endowment fund. Through the benefits of the Endowment fund, the Society will continue to expand to larger venues, provide robust orchestration and feature noted soloists as part of our concert.
If you do not wish to give online you may also mail the form: Endowment Giving
VCS is a non-profit organization in accordance with IRS Code 501 (c) 3. VCS is also permitted by the Commonwealth of Virginia to solicit funds for non-profit activities. A financial statement is available upon written request from the Office of Consumer Affairs in the Commonwealth of Virginia Department of Agriculture and Consumer Services.
For information on contributing to the VCS Endowment fund, please call the VCS at 757-851-9114 or e-mail us at Endowment@vachoralsociety.org.