The purpose of the St. Joseph’s Villa Foundation is to encourage, receive and steward gifts, grants, bequests and other types of planned gifts to provide long-term and perpetual funding for the mission of St. Joseph’s Villa. In addition to receiving such gifts and recognizing their donors, the Foundation manages these funds as endowments or other long-term assets.
Today the Foundation, with a corpus in the mid-$20 million range, is comprised of assets from:
- A bequest by Dr. Daniel Hopkins Gregg (1885)
- A bequest by Major James H. Dooley (1922)
- Proceeds from the sale of unneeded acreage of Villa land to establish Villa Park (1986)
- Investment growth
- Gifts and bequests by other faithful Villa friends
Proceeds from the Foundation contribute about 12% of the Villa’s annual operating revenue, providing a reliable source of support for virtually every service the Villa provides. However, investment proceeds are allocated specifically according to the donors’ original intentions. The Villa’s history of faithful service, the Foundation’s strong track-record, the expertise and dedication of its leaders, and strict adherence to best-practices in prudent financial management together ensure the steadfast integrity and effective stewardship of all donor gifts.
Through donor support and continued market growth, the Foundation seeks to increase its impact on the lives of the children and families the Villa serves.
Villa Foundation Board of Directors
The Foundation is overseen by its Board of Directors. Board members bring knowledge and strengths from their notable professional backgrounds, which include law, investments, banking and business management. These volunteer leaders actively engage in setting investment and spending policies, monitoring of investment performance, development and interpretation of gift acceptance policies, marketing, relationship-building, and recognition of donors.
David D. Redmond, Chair – Christian & Barton
Karen M. L. Whelan, Vice-Chair – Retired, Universal Corporation
Robert E. Leitch, Jr., Secretary – Park Sterling Bank
John B. Catlett, Jr. – Union First Market Bank
T. Gaylon Layfield, III – Xenith Bank
Jeanmarie McGowan – Godsey & Gibb Wealth Management
J. Sargeant Reynolds, Jr. – Reynolds Development
Karl W. Werwath – Capital One