FREQUENTLY ASKED QUESTIONS
How does the Impact 100 giving model work?
Impact 100 Richmond is a grantmaking organization that awards high impact grants to nonprofits in the Greater Richmond region by:
• Engaging at least 100 women to contribute $1,100 each toward a shared grant, with $1,000 going to provide grants for the important work done by our grant recipients and $100 per member going to support our daily operations and membership development.
• Educating members about community issues and the nonprofits that are addressing those issues most effectively.
• Forming member-led Grant Review Committees to review and select the grant Finalists.
• 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?
The Impact 100 giving season runs September to May, at which time any women can pledge to become a member. All payments must be received by March 1. The grantmaking 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 $1,100 determines the grant amount that will be awarded that year.
Can I pay over time?
Yes, as long as pledges are paid in full by March 1. Please contact Alicia Dickinson to set up payments.
Do you accept gifts of stock?
Yes. Please contact Lisa Pratt O’Mara at the Community Foundation for instructions on how to gift your stock.
Is my contribution to Impact 100 Richmond tax-deductible?
Yes, your entire 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.
Where do I send my contribution?
Submit contribution by mail:
Impact 100 Richmond
c/o Community Foundation
7501 Boulders View Drive, Suite 110
Richmond, VA 23225
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
• Health & Wellness
Preference will be given to programs and projects that positively impact women and children.
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 Committee. A final budget report will be provided annually to the full membership at The Big Give.
How does Impact 100 Richmond pay for administrative costs?
Increasing the Annual Membership Contribution from $1,000 to $1,100 beginning in our 2015-2016 grant year, with $1,000 continuing to provide grants for the important work done by the nonprofit in our community, and an additional $100 investment per member in Impact 100 Richmond to support our daily operations and infrastructure allows us to cover administrative and event costs and be sustainable for years to come. In addition to funds raised through memberships, individuals may contribute to our program by becoming a Friend of Impact 100. These 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. We also seek out in-kind sponsors as much as possible.
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 the "Big" events, participate on a Committee, or support out grantees in an additional capacity. You can also join one of the many committees such as Grants, Membership, Communications, and Events as appropriate to your schedule and interests.
How long does my Impact 100 Richmond membership last?
Each $1,100 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.