Lynchburg Couple Leaves $172,000 To The Greater Lynchburg Community Foundation
The Greater Lynchburg Community Foundation has received a bequest of $172,000 from The Rachel B. and William E. Blandford Charitable Remainder Trust. This gift will establish The Rachel B. and William E. Blandford Fund, an unrestricted fund. Income from the fund will be distributed annually to fund worthwhile programs and services in Central Virginia for years to come.
Mr. Blandford was a career executive with General Electric, while Mrs. Blandford was a teacher in Lynchburg Public Schools for 27 years. Lynchburg became the couple’s adopted home when they moved to the area from upstate New York in the late 1950s. The Blandfords raised their three children (Bill, Gail, and Linda) in Lynchburg.
Bill Blandford, the couple’s son, stated that he and his two sisters “are so pleased that their parents’ planning has created this gift to The Community Foundation to benefit Lynchburg, which was their home for nearly fifty years. We are so happy that our parents’ gift will help The Community Foundation’s work to improve the lives of those in Lynchburg and the surrounding jurisdictions.”
Stuart Fauber, President & CEO of The Greater Lynchburg Community Foundation, said, “The Rachel B. and William E. Blandford Fund is a wonderful example of how we can give back to the community with a gift that lasts forever. And, the fund will serve as a permanent memorial to the philanthropy of Rachel and Bill Blandford.”
The Greater Lynchburg Community Foundation exists to promote local philanthropy and to simplify the process of giving. The Community Foundation receives and manages permanent gifts for the benefit of the citizens of Lynchburg and the counties of Amherst, Appomattox, Bedford, and Campbell. Needs served are broad in scope including human services to children, youth, the needy, and the elderly; education; health; the arts; and the humanities.
The Community Foundation began making grants in the Greater Lynchburg area in 1972, and now consists of 199 named funds, with trust assets aggregating over $29 million. It is one of approximately 750 such community foundations across the nation rendering a valuable service both to the regions they serve and also to donors interested in the present and future of their communities. During its last fiscal year, The Greater Lynchburg Community Foundation distributed $1.4 million in grants to 103 charitable organizations in Central Virginia.
The Greater Lynchburg Community Foundation works with professional advisors such as trust officers, attorneys, accountant, brokers and financial advisors to assist their clients in their charitable giving plans. The Community Foundation allows donors to begin an endowment fund with a minimum of $10,000. Many donors choose to establish the funds upon their death, with a will bequest, or by naming The Community Foundation as a beneficiary of IRAs, life insurance policies, charitable remainder trusts, or charitable gift annuities.
To learn more about giving back through The Community Foundation, donors are encouraged to contact their professional advisor, visit www.lynchburgfoundation.org or call 434-845-6500.
June 4, 2012