Former Jacksonville Jaguars owners Wayne and Delores Weaver have broken new ground with their latest philanthropic endeavor.
The Weavers announced Thursday they have donated their riverfront estate to The Community Foundation for Northeast Florida.
The foundation will sell the property and the proceeds will go to the Weaver Family Foundation Fund, administered by The Community Foundation, which makes charitable gifts and grants throughout the region.
To further the community impact of the sale, the Weavers also will endow a $1 million donor-advised fund at the foundation in the name of the buyer who purchases the property at the $4.7 million asking price.
The unique endowment tie-in was Delores Weaver’s idea, said foundation president Nina Waters.
“That piece of this opportunity is going to be compelling to people,” she said. “She is a very innovative philanthropist ... She teaches us philanthropy.”
Weaver is also teaching other donors and the rest of the philanthropic world, said David Biemesderfer, president and CEO of the Florida Philanthropic Network, a statewide association of about 110 private independent, corporate and family foundations, community foundations, public charity grant makers and corporate giving programs.
Donations of property are common, he said, but they tend to be commercial and not nearly as valuable as the Weaver estate.
“What’s unusual is donating a donating a personal mansion,” he said.
Also unusual is the endowment link.
“That is very interesting. It is certainly an inspired way to encourage more philanthropy in the community,” he said. “I see that as a great thing and I applaud her [Weaver] for that creativity.”
Delores Weaver announced the donation at a news conference in front of the home, which the couple built after their partnership was awarded the NFL franchise in 1993.
“It is a bittersweet day,” she said. “This was the very beginning of our time in Jacksonville.”
She said she was heartened by how the estate’s value could help “deserving nonprofits” in Northeast Florida and the people they serve.”
“We hope we have proven how much we love Jacksonville and what it means to us,” she said.
Bill Brinton, chairman of the foundation’s board of trustees, called the donation “bold” philanthropy. “It is an extraordinary gift,” he said. “It has been a landmark residence in Jacksonville for many years.”
Prior to the 2008 recession, the property was appraised for $8.5 million and listed for sale at $10 million. In 2012, after selling the team for $760 million and moving to a Riverside condominium, the Weavers put the home on the market again for $5.5 million, according to the foundation.
The 2013 assessed value was $3.7 million, according to the Duval County property appraiser’s website. The current appraised value is $4.7 million, according to the foundation.
The Weavers changed course on the sale last year. Delores Weaver said she pondered whether the property could become a boys’ or girls’ home, but zoning restrictions barred that idea. They then began discussions with the foundation about donating the property, Waters said.
The market for such large properties “has been picking up,” she said. “But they have a lot of things to worry about. We can handle this.”
The Weavers even created a fund at the foundation to pay for maintenance of the property while a buyer is sought, so the foundation would not have to pay those costs.
““This is a truly wonderful — and touching — example of the tremendous generosity of the Weavers and showcases once again the Weavers’ commitment to use their philanthropy as a force multiplier to benefit Northeast Florida,” said Waters. “To give something so personal is such a bighearted act, and it will benefit so many.”
The Weavers are already the largest benefactors in the 50-year history of The Community Foundation, with 33 separate funds, 29 of which are designated endowments that create permanent income for nonprofit agencies.
They converted the assets of their former Weaver Family Foundation in 2012 into a fund at The Community Foundation, via a $23.7 million donation. Due in part to the Weavers, The Community Foundation is currently the largest charity of its kind in Florida, with $297 million in assets and about 450 charitable funds.
Beth Reese Cravey: (904) 359-4109
TO LEARN MORE
The Weaver estate is located at 6120 W. San Jose Blvd. Go to 6120sanjose.com for a video tour of the property, which is listed by Berkshire Hathaway HomeServices Florida Network Realty. For more information about the donation and the advised fund, go to jaxcf.org/weaver-home.