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?
Is my contribution to Impact 100 Richmond tax-deductible?
What types of organizations does Impact 100 Richmond fund?
How much of my contribution will go toward grants versus administrative costs?
How does Impact 100 Richmond pay for administrative costs?
If I can't 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?
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 to contribute $1,000 each toward a shared grant.
- 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 a 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?
Members' pledge payments must be received by January 31. The grant-making process takes place between February and May, with the grant recipient being determined at the annual meeting in May. The number of women who have pledged $1,000 by January 31 determines the grant amount that will be awarded that year.
Can I give more than $1,000?
Yes. A gift above $1,000 will be used to help offset event and administrative costs for Impact 100 Richmond. Every member is awarded one vote regardless of the level of your gift.
Can I pay over time?
Yes, as long as pledges are paid in full by January 31.
Do you accept gifts of stock?
Yes. Please contact Lisa Pratt O’Mara at The Community Foundation for instructions: 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 Impact 100, and will be the person who casts the final vote on behalf of the Impact Circle members.
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. You will receive a tax receipt from The Community Foundation for your records. Contributions made by December 31 are tax-deductible for that year.
What types of organizations does Impact 100 Richmond fund?
Impact 100 Richmond considers 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.
For more details, see the Apply for a Grant section.
How much of my contribution will go toward grants versus administrative costs?
100% of the membership contributions will be used to support the Impact 100 program. Each $100,000 raised will be allocated toward grants. Additional funds will be used to support our events and administrative expenses as determined by the Impact 100 leadership team. A final budget report will be provided annually to the full membership at the Big Give event.
How does Impact 100 Richmond pay for administrative costs?
In addition to funds raised through memberships, individuals may contribute to our program by becoming a "Friend of Impact 100." "Friends of" contributions are tax-deductible and will help support our events and administrative costs. In addition, members may elect to make a donation above their membership for the same purpose. Friends of Impact 100 receive separate recognition in our publications and at the Big Give.
If I can't 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 the program's event and administrative costs. You will be recognized as a Friend in our publications and be included in our email updates.
How involved do I have to be as a member?
You can scale your membership to a level that is personally meaningful. Do a little, or do a lot! Members are encouraged, though not required, to participate in Impact 100 Richmond's educational programs, such as site visits or various other forums. You can also join one of the many committees such as Grants, Membership, Communications, Education and others, as appropriate to your schedule and interests.
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 to join Impact 100 Richmond from year-to-year as long as they make an annual membership contribution.