Funds at the Foundation
All of the assets at the Foundation are held in some type of fund. The funds are created by donors who want to make a gift for a particular charitable purpose. All funds of the Foundation are endowed with the exception of project funds. An endowment is the backbone of our community impact work, providing support for present and future needs and opportunities in perpetuity. The principal (donations) is invested and remains whole forever. A specified portion of this income (based on a “spending rule”) is used annually for grants that support charitable projects and opportunities in the greater Virginia area.
The Virgina Community Foundation Endowment Fund
This unrestricted fund provides support for general, unspecified charitable purposes at the discretion of the Foundation’s Board of Directors.
Designated funds support a specific charitable organization or organization.
Field of Interest Funds
Field of interest funds support a specific, broad purpose.
Scholarship funds support recipients with costs associated with a post-secondary education.
Project Funds (Fiscal Sponsorships)
Project funds are created for a particular local charitable project or community need.
The Virginia Community Foundation Endowment Fund is an unrestricted fund. This fund provides the greatest flexibility to award grants for current and future needs in the greater Virginia area.
Established in 1991, the Virginia Community Fund is the original fund of the Virginia Community Foundation.
The Wolverine Fund is a designated fund that provides support for the co-curricular activities (as defined by the Minnesota State High School League) within ISD 2909, Rock Ridge Public Schools.
This fund, the former Blue Pride Fund was established in 2001.Give Now
The Rock Ridge Education Fund is a designated fund that provides support for enriched learning experiences, creating community connections to the class room, enhancing available school resources, and providing the best educational opportunities for all students within ISD 2909, Rock Ridge Public Schools.
This fund, the former Virginia Education Fund was established in 2007.Give Now
The Lou’s Closet Fund is a designated fund that provides support for students within the ISD 2909, Rock Ridge Public Schools. Its first initiative is to provide quality, functional items of seasonally appropriate school clothing to students whose families or guardians lack the resources to provide such items.
The Fund’s second initiative is to provide for corrective eyewear and other necessary items for eligible students to improve and encourage their educational outcomes.
This fund was established in 2014.Give Now
The Friends of the Library Fund is a designated fund that provides support for literature and learning through assistance to the Virginia Public Library including capital projects, materials, and programming.
This fund was established in 2003.Give Now
The Fund for the Arts is a field of interest fund established to provide support for arts and culture in the greater Virginia area.
This fund was established by P&H Mining Equipment, through the Joy Global Foundation in 2009.Give Now
This scholarship fund was established to provide scholarships to Virginia students who are studying at the University of Minnesota in the area of Liberal Arts.
The fund was established in 2018.
The Parks, Lake and Recreation Fund is a field of interest fund established to support and promote recreational projects within the boundaries of the City of Virginia.
This fund was established by P&H Mining Equipment, through the Joy Global Foundation in 2012.Give Now
This scholarship fund was established to provide scholarship awards to Virginia students who are interested in the study of Economics or other business-related fields.
George Munig taught senior social studies, including economics, civics and psychology at Virginia High School for 31 years.
This fund was established in 2017.Give Now
The Mesabi Fit Wellness Fund was created to advance opportunities for wellness and community on the Iron Range, prioritizing support for the facility located at 8367 Unity Drive, Mountain Iron as the venue for these opportunities.
The fund was established in 2022.Give Now
This scholarship fund was established to provide scholarship awards to Virginia students who are actively involved in extra-curricular activities, have outdoor interests, and demonstrate characteristics of a positive role model.
Garett Plotnik was a 1991 Virginia graduate. He was an excellent hockey player in high school and is remembered for his “wicked slap shot.” Garett was a talented skeet shooter who enjoyed fishing, and hunting.
This fund was established in 2012.Give Now
This scholarship fund was established to provide scholarship awards to Virginia students who have demonstrated high academic performance.
Dr. Marvin Skaurud was a 1932 graduated of Roosevelt High School. He was a World War II veteran who served in the U.S. Navy as an ensign. Dr. Skaurud dedicated his life to education, holding a bachelor’s, master’s, and doctorate degrees in history from the University of Minnesota. He was a longtime history teacher for the Minneapolis school system and a professor for the University of Maryland.
This fund was established in 2017.Give Now