The Williamsburg Choral Guild Endowment Fund was established in 2020 by a generous gift from the estate of Joanne Elliot who sang with the Guild from 1997 through 2015 and by a gift designated by Guild’s board of directors.
The purpose of the fund is to provide long-term financial support for the operating expenses and capital expenses of the Guild. The fund may contain Donor Unrestricted Gifts, Donor Restricted Gifts and Board Designated Gifts including Named Endowments within both Donor Restricted Gifts and Board Designated Gifts.
Management and Investment Strategy
Management and oversight of the fund is the responsibility of the Board of the Guild.
The investment and distribution strategies, policies and procedures are established by the Finance and Investment Committee with the approval of the Board. The Endowment fund accounts are held separately from accounts used for operating expenses.
How the Funds May be Used
No income or principal from The Fund shall be used for any purpose other than educational and charitable purposes, or for any purpose that would be inconsistent with the Guild’s standing as a charitable non-profit institution under the laws of this State and of the United States of America, and specifically under §501(c)(3) of the Internal Revenue Code of 1986. No income or principal from The Fund shall be used directly or indirectly for the benefit of any individual person for duties not directly related to operations of the Guild, including but not limited to non-Guild related payments to any employee or Board member of the Guild.
Initially, no distributions will be made from the Board Designated Gifts until the corpus reaches $50,000. Until such time, the Finance and Investment Committee will reinvest all principal and interest in The Fund.
Making a Gift to the Fund
Individuals who desire to give to the fund should designate that their gift is to “The Williamsburg Choral Guild Endowment Fund.”
Additional Information
Please contact us at info@williamsburgchoralguild.org for additional information. The Williamsburg Choral Guild’s treasurer will respond to your inquiry.
The Williamsburg Choral Guild is recognized as a nonprofit organization under the requirements of Section 501(c)(3) of the IRS Code. To the extent permitted by law, contributions to the Guild are tax deductible.