Wealthy families are as committed as ever to the nonprofit sector and community causes, with giving growing significantly in the past several years. Motivations and preferences in giving are changing too.

Bill Harney and Charlotte Parrish were both brought up with the “pay it forward” mentality, and for a while, the couple mostly gave to causes where they had personal ties. Then came the racial reckoning that began last summer, and Bill and Charlotte’s entire perspective shifted.

The Community Impact Fund is an unrestricted fund for fund holders that supports the Community Foundation's annual community grants program. Donor contributions are combined with income from the Foundation’s endowment, providing greater flexibility in addressing the pressing needs or promising opportunities facing the Richmond region each year.

Americans’ bequests to charity totaled nearly $42 billion last year. That’s a tremendous amount of charitable giving flowing to community organizations from donors after they die. Still, it’s a fraction of the $324 billion Giving USA reports was given to nonprofit organizations in 2020 by living individuals.

Learn about the different types of tax-exempt organizations and whether donations to them qualify as tax-deductible charitable contributions.