The Community Foundation in Jacksonville has announced that J. Wayne and Delores Barr Weaver have converted the Weaver Family Foundation into a $23.7 million donor-advised fund at the foundation.
The Weavers, former owners of the Jacksonville Jaguars football team, will give recommendations with respect to how income generated by the fund is disbursed based on their philanthropic interests; however, the fund will not accept unsolicited proposals. Converting private foundations into funds at community foundations is a common practice, particularly among family foundations, most of which do not have paid staff to manage their operations.
In a typical year, the Weaver Family Foundation awarded $1 million or more in grants, with a focus on programs benefiting girls and women, seniors, and education, and with almost all the funds going to organizations in northeast Florida.
"Wayne and I want to take this time in our lives to enjoy our family, relax, and travel, not to worry about managing a private foundation," said Delores Weaver. "We have complete confidence in the community foundation and its stewardship, and know that the staff will provide the services we need to continue our philanthropy in Jacksonville and beyond."