Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, May 11, 1990 TAG: 9005110179
SECTION: VIRGINIA PAGE: B3 EDITION: METRO
SOURCE: MIKE HUDSON STAFF WRITER
DATELINE: LENGTH: Medium
Dominion Bank, Norfolk Southern and the Roanoke Times & World-News have promised $25,000 each.
The foundation's goal is to pool bequests, trust funds and other donations that can be used to support projects in social services, education and other civic causes.
Alan Ronk, the foundation's executive director, said the three gifts, which will be used to pay its operating costs, "puts the foundation on a firm standing in its early development. . . . These gifts are extremely critical in the early stages of a new organization like the foundation."
Since its creation in 1988, the foundation has been working to get established and get long-term financial support.
Ronk said the foundation hopes to raise another $25,000 through donations from its board of directors.
The foundation does not plan to campaign each year for smaller gifts. Instead, it will seek medium to large gifts from individuals, businesses, charities and others.
Foundation officials say its special appeal includes the tax benefits offered to donors and its ability to save them from the headaches of creating their own trust funds or foundations.
Donors may specify their money for a specific charity, field or interest or allow the foundation to decide where the money will go.
An earlier attempt to create a similar civic foundation failed in the late 1960s. When the Roanoke Valley Community Foundation folded after two years, it had no staff and had collected no money.
With the $75,000 in donations and the hiring of Ronk in February, the current Foundation for Roanoke Valley is well ahead of its predecessor.
Ronk, former director of planning giving at Roanoke College, is the foundation's only staffer. He said the foundation hopes eventually to hire a secretary/bookkeeper.
by CNB