The VAC Tết Endowment
A permanent fund so that Vietnamese Americans in Memphis, especially those growing up here, can celebrate Tết for generations to come.
The VAC is preparing to establish the Tết Endowment at CFGM.
Target date to establish the fund: Thanksgiving 2026.
What is an endowment?
An endowment is a fund meant to last forever. Its principal—the money set aside for the long term—stays invested, while only a limited annual distribution is available to spend.
No one—including the VAC or its leaders—can withdraw the principal. CFGM will hold and invest the fund and distribute up to 5% of its value each year, solely for the community’s Tết celebrations. The rest will stay invested for future generations.
That is how lasting institutions are built: one generation's generosity serves every generation that follows.
How the Tết Endowment works
Annual distribution
CFGM will distribute up to 5% of the fund each year for Tết. At 5%, the planned initial amount will provide about $7,500 to $12,500 a year.
No principal withdrawals
No one, including the VAC or its leaders, can withdraw the principal.
Restricted use
Distributions can only be used to celebrate Tết.
Gifts go into the fund
The VAC makes the founding gift. Supporters can add to it later, making Tết even more sustainable.
The fund is invested
The Community Foundation of Greater Memphis (CFGM) invests and manages the fund for the long term. Founded in 1969, it holds about 1,200 charitable funds and $1.1 billion in assets.
CFGM makes the annual distribution
CFGM will distribute up to 5% of the fund’s value to the VAC each year, solely for Tết. The VAC can use only this distribution; it cannot withdraw the principal. The rest will stay invested.
We celebrate Tết
The money supports a Tết celebration hosted by a representative of the community.
Frequently asked questions
Why an endowment, and how is it protected?
An endowment provides lasting support for Tết and reduces the burden of annual fundraising. The principal stays invested for future generations. No individual or organization—including current and future VAC leaders—can withdraw it.
Who manages the fund?
The Community Foundation of Greater Memphis (CFGM) will hold and invest the endowment. CFGM will distribute up to 5% of the fund’s value each year to support Tết; the rest will remain invested.
What can the money support?
The money supports Tết celebrations for the Vietnamese American community in Memphis and West Tennessee, with priority given in this order:
- A public Tết celebration serving the broader Vietnamese American community.
- Tết celebrations serving religious groups within that community.
Both may receive support if sufficient funds are available. Any unused money will return to the endowment.
How much will the fund cover?
It depends on the scale of the celebration. A community-wide Tết celebration may cost $15,000–$40,000, while a smaller church-organized event may cost $5,000–$15,000.
At a 5% annual distribution, the planned initial amount will provide about $7,500–$12,500 a year. How much of an event’s cost the fund can cover will depend on the available distribution and its allocation among celebrations. Additional fundraising may be needed.
How can I donate?
Once the fund is established, give directly to CFGM, not the VAC, and ask them to direct your gift to the VAC Tết Endowment Fund. CFGM accepts gifts from individuals, families, and organizations.