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Local Philanthropist Establishes Endowments for Scholarships, Housing

Local Philanthropist Establishes Endowments for Scholarships, Housing

Press Release courtesy of the Outer Banks Community Foundation, June 7, 2022

Two new endowed funds that will support Outer Banks students and workers have been established by Nags Head realtor and philanthropist Karen DelVacchio. As with all endowed funds created at the Community Foundation, the Cookie Jar for Good Deeds Fund and the Helping Hand Cookie Jar Scholarship Fund are structured to be permanent sources of support, providing grants and scholarships starting in 2023 and continuing for generations to come.

The new Cookie Jar for Good Deeds Fund is a Field of Interest fund that will award grants to nonprofit organizations that provide financial or housing support to individuals, with a preference for supporting employed individuals needing extra financial help for rent or mortgage payments.

The Helping Hand Cookie Jar Scholarship Fund will provide need-based scholarships to non-traditional students who are pursuing an education after one or more years in the workforce, post-high school graduation.

“Not everyone knows what they will do right out of high school, or even after some college,” said Karen. “I created these funds for adults who want another shot at a career choice and because, due to our chronic worker housing shortage, businesses and workers are really struggling on our beaches.”

“We are thrilled that the two new funds Karen has established for the entire Outer Banks will address unmet needs in innovative ways,” said Community Foundation President and CEO Chris Sawin.

Endowment funds have been created over the years by individuals, families, businesses, nonprofits, civic groups, and government agencies for causes they are passionate about. Funds can be created to memorialize loved ones, support a favorite issue or charity, provide scholarships, and more. The first step is to visit or call the Community Foundation at 252-261-8839. The Community Foundation holds more than 200 endowed funds for the Outer Banks; anyone can donate to any of these existing funds online at

The Outer Banks Community Foundation is a 501(c)3 nonprofit charitable organization that connects people who care with causes that matter. Based in a historic flat top cottage in Southern Shores, the Community Foundation manages $25 million across more than 200 charitable funds for individuals and agencies, awards grants to nonprofits, manages more than 60 scholarship programs, and provides tailored services to help donors pursue their charitable interests. Since its inception in 1982, the Community Foundation has awarded more than $12 million in grants and scholarships to local nonprofits and students.

How To Donate:

The Outer Banks Community Foundation manages over 200 endowed funds for the Outer Banks, and anyone can donate to these existing funds. Are you interested in donating? Visit their website to learn more.

More About Karen DelVacchio:

We are proud to have Karen on our team! She is a Senior Associate Broker with Village Realty and one-third of the powerhouse real estate team: Sell OBX. She has been involved in real estate as a professional real estate manager and as an investment property owner for over 35 years. Whether you are looking for a second home, investment property, a little getaway bungalow, golf course living, or properties convenient to world-class fishing, Karen will be glad to help you find exactly what you are looking for. You owe it to yourself to make your real estate search more enjoyable and successful by allowing Karen to work for you.