Solvang non-profit receives $1.67 million donation; largest in the organization’s history

SOLVANG, Calif. – The Vikings of Solvang issued the press release below after receiving the single largest donation in the non-profit's history.

Vikings of Solvang has received a $1.67 Million gift, the largest single donation it has ever received in its fifty-year history, from the estate of a recently deceased local resident.

Viking Charities (also known as Vikings of Solvang) is a 501 (c)(3) not-for-profit social and philanthropic charitable organization founded in 1974 whose sole mission is to provide help for the medically related needs of qualified individuals and health organizations in the Santa Ynez Valley and throughout Santa Barbara County.

The donation was from the estate of a long-time Santa Ynez Valley resident who passed away last November. “The donor held a special place in her heart for children with medical needs and she would be comforted to know that her donation will benefit generations of children to come,” said her estate trustee.

“Every dollar donated to the Vikings Charities stays local with 100-percent of its Endowment Fund contributions used to fund the many requests from our community residents in need of medical assistance. We will never touch the principal of the fund, therefore contributions are preserved in perpetuity with the income from the principal used for Vikings charitable work,” said Vikings Chief Larry Humburger.

Vikings annually allocates five percent of the past three-year total fund average balance for its charitable grants. With its investment portfolio annual return averaging more than that amount, it allows Vikings to make its annual donations in perpetuity.

While Vikings of Solvang is in its 50th year, it’s Endowment Fund was started in 2000 as it recognized the inescapable reality that with each passing year there is an ever-increasing demand for the charitable work of the organization exceeding its ability to fund the need. Since starting its annual grant donations in 2008 Vikings has provided $1.5 million dollars in grants to individuals and more than $2 million to assist organizations in providing medical care.

In 2024 Vikings will grant more than $112,000 for the medical care of those in need. With the new contribution, combined with Vikings existing Endowment Fund, the annual grant amount will increase annually over the next several years, reaching approximately $250,000 in six years and continue to be granted annually in perpetuity.

“We wish we could say that having that much to grant annually would be more than enough, but we know from experience that the need has and will continue to outpace the amount we have to give. Between the consistent increase in medical costs and the growth of our area population we will need to continue to grow our fund to provide even more assistance,” said Vikings Chief Larry Humburger.

“Meanwhile, we can’t thank the donor enough for the extraordinary contribution and a visionary investment. It will have a positive impact on untold lives for generations to come. And, it’s a wonderful way to celebrate 50th anniversary of Vikings Charities.”

Vikings of Solvang is a 501(c)3 nonprofit organization that has provided more than $3 million in medically related aid since the group was founded in 1974, solely on the strength of tax-deductible donations from Vikings members and others in the community. In addition to the approximately $1.5 million of the total granted to individuals, approximately $2 million has been donated to organizations such as local senior centers, therapy centers and other medical service providers and funded the Vikings’ annual Christmas party for special-needs children and their teachers in northern Santa Barbara County.

Members pay for all the group’s operating costs, so every penny donated goes directly to helping someone. Each donation is invested in a carefully managed Endowment Fund, which has allowed the group to maximize every dollar donated by earning interest on it. Only a portion of the interest from the endowment, not the principal, can be spent each year, so donations to the fund help in perpetuity.

Vikings grants have helped local people build wheelchair ramps, get prosthetic limbs, buy disabled-accessible vehicles, get cancer treatment, address dental and hearing issues as well as fund many other needs.

To apply for a grant from the Vikings, donate to the group’s endowment fund, or get other information, go to vikingsofsolvang.org.