Frequently Asked Questions
How does Impact 100 Richmond work?
What is the timing for becoming a member and awarding a grant?
Can I give more than $1,000?
Can I pay over time?
Do you accept gifts of stock?
What is an Impact Circle?
Will you accept matching funds from my employer?
What types of organizations does Impact 100 Richmond fund?
Is my contribution to Impact 100 Richmond tax-deductible?
How much of my contribution will go toward the cause versus administrative costs?
How does Impact 100 Richmond pay for administrative costs?
If I am unable to make a contribution of $1,000, is there a role for me?
How involved do I have to be as a member?
How long is my membership in Impact 100 Richmond?
Can men participate in Impact 100 Richmond?
How does Impact 100 Richmond work?
Impact 100 Richmond awards high impact grants to nonprofits in the Greater Richmond region by:
- Engaging at least 100 women in giving $1,000 each.
- Educating members about community issues and the nonprofits that are addressing those issues most effectively.
- Using Focus Area Committees comprised of members who choose to be involved in the grant review process.
- Awarding at least one annual grant of $100,000 to a local nonprofit determined by a vote of the membership.
What is the timing for becoming a member and awarding a grant?
For 2010 membership, pledges must be paid in full by March 15, 2010. The grant-making process takes place between February and May, with the grant recipient being determined at the annual meeting in mid-May. The number of women who have paid $1,000 by March 15 determines the grant amount that will be awarded.
Can I give more than $1,000?
Yes. A gift above $1,000 will be used to help offset administrative costs. You will still have one vote in the process.
Can I pay over time?
Yes, as long as pledges are paid in full by the annual deadline (to be announced for 2011).
Do you accept gifts of stock?
Yes. Please contact Lisa P. O’Mara at The Community Foundation for instructions at lpomara@tcfrichmond.org or (804) 330-7400 Ext. 122.
What is an Impact Circle?
An Impact Circle is a group of two or more individuals who have pooled personal resources to reach the $1,000 membership. One voting representative must serve as the central point of contact for the group.
Will you accept matching funds from my employer?
Yes. However, your annual membership contribution of $1,000 cannot include the matching funds. We ask that the $1,000 be a personal commitment.
What types of organizations does Impact 100 Richmond fund?
Impact 100 Richmond will review grant requests from nonprofit organizations in the Greater Richmond region that fall under one of the five Focus Areas:
- Arts & Culture
- Education
- Environment
- Family
- Health & Wellness
Preference will be given to programs and projects that positively impact women and children.
Is my contribution to Impact 100 Richmond tax-deductible?
Yes, your contribution is tax-deductible. Tax-deductible status is possible through Impact 100 Richmond’s relationship with The Community Foundation Serving Richmond and Central Virginia. Contributions made by December 31 are tax-deductible for that year.
How much of my contribution will go toward the cause versus administrative costs?
A full 100% of Impact 100 membership contributions will be awarded in grants to nonprofit organizations. Any amount over the membership contribution of $1,000 can be used toward administrative costs.
How does Impact 100 Richmond pay for administrative costs?
"Friends of Impact 100" is a separate pool of contributions that underwrite administrative operating costs. All Friends contributions are tax-deductible. In addition, members may elect to make an additional donation above $1,000 to support administrative costs.
If I am unable to make a contribution of $1,000, is there a role for me?
Yes, a very important one. You can be a Friend of Impact 100 Richmond and your contribution will support administrative costs.
How involved do I have to be as a member?
Only two things are required to be a member: you must be a woman, and you must donate $1,000. You are then strongly encouraged to make an informed decision when you vote for a grant recipient, either in person at the annual meeting or by absentee ballot.
If you would like to be more involved, you may wish to serve on a Focus Area Committee to review and evaluate grant proposals. You may want to attend site visits to some of the nonprofit applicants for the grant. You might decide to join a committee to help plan the annual meeting (Events Committee), or reach out to potential members or the media, or think of ways to communicate with membership year-round (Marketing/PR Committee). The choice is yours as to how involved you become.
How long is my membership in Impact 100 Richmond?
Each $1,000 contribution provides membership for the current year's grantmaking cycle. Members can continue from year-to-year as long as you make an annual membership contribution.
Can men participate in Impact 100 Richmond?
Men can participate directly as a Friend of Impact 100 Richmond or as a member of an Impact Circle, as long as the voting representative is a woman. They may also encourage the women in their lives to participate as members.