In each stage of their lives, Wally and Virginia Cox made the communities they lived in a priority, especially with their interest in the arts. Originally from the tiny town of Rockford, Michigan, they met in high school and married when Wally was in college. Together they raised two children, Deanna and Lenny.
Wally spent most of his career in accounting while Virginia was a homemaker and active volunteer. Throughout the years, the Cox family moved around Virginia, eventually settling in Bedford County for two decades. During their time in Bedford, Wally and Virginia were active with their local theater, Little Town Players – Wally as a regular performer and Virginia volunteering at the box office.
Eventually Deanna joined her father in his accounting/auditing business, and they worked together for three decades.
After Deanna and her husband, Hal, had their son Eli, Wally and Virginia moved to Blacksburg to be closer to them. Deanna describes her parents as generous, funny, socially conscious people who loved to learn.
“My mom loved to tell a story,” said Deanna. “My dad had a real dry sense of humor. People were like, ‘was he saying a joke? Should I laugh?’”
Creating a Family Trust
Wally created the family’s trust in the early 2000s. He used rent from an inherited family farm to add funds to the trust each year. At the time, the family focused mostly on donating to arts-related organizations.
When Deanna took over the trust in 2006, she and her mom would develop a list each year of local organizations to support, including the Blacksburg Master Chorale and the Montgomery County Christmas Store. In 2016, Deanna sold the farmland and put the proceeds in the trust.
Life Challenges Inspire a New Giving Focus
In 2017, Deanna’s son Eli was in trouble. After several scrapes with the law, he ended up spending three months in jail. From that experience, Deanna and Hal had a front-row seat to the agony of having a child in jail. Meanwhile, Eli witnessed how difficult (and expensive) it was for inmates to maintain connections with their families. This sparked an idea for Deanna.
“I think people forget that when somebody makes a mistake and goes to jail, that the family suffers quite a bit as well,” said Deanna.
In 2020, Deanna founded the nonprofit Inmate Family Assistance (IFA) of the New River Valley, which works with the Montgomery County Jail to add money to inmates’ telephone and commissary accounts. This literal and figurative lifeline for inmates means they can stay in contact with their families – something many could not do without IFA’s support. Since its inception, IFA has helped over 400 families in the NRV.
Her family’s experience, along with seeing how great the need is in the NRV, inspired Deanna to shift the trust’s giving focus. Now, the trust supports organizations meeting basic human needs from food and housing assistance to supporting incarcerated individuals and their families.
Moving the Trust to the CFNRV
In 2024, Deanna decided to transfer the trust to the CFNRV. It became a field of interest fund, which focuses on specific interest areas, program initiatives, or geographic areas as established by the donor. The CFNRV team follows these parameters to select organizations to receive grants.
“It just seemed like a perfect fit because I’ve been able to see firsthand how you all manage funds and how much you support local organizations,” said Deanna. “You all are integral to the reason why IFA is still in existence.”
Already, the Cox Family Trust has supported five different organizations through the CFNRV’s Responsive Grant process, distributing more than $13,000 in grants, with more to come in fall 2026.
Michael Hemphill. Photo by Three Bird Photography.
Keeping Families Connected
Deanna and Eli shared their story at our 2025 Giving Day Buzz for Good event at the Lyric Theatre. Watch their segment of the event here.
After spending thousands of dollars on phone calls for the three months that her son was in jail, Deanna was inspired to help others. Organizations in our region, such as Virginia CARES and the New River Valley Re-entry Council are active in helping people once they get out.
But there are few resources to support families while their loved ones are in jail or prison. The support that IFA provides – just $40/month makes a huge impact on inmates and their loved ones.
Inmate Chris writes, “I just want to start by saying thank you so much for what you are doing and have done for me. I have four little girls out there…you have helped me stay in touch with them by putting money on my books.”
Read more stories about the CFNRV’s funds and other work online here in our 2025-2026 annual report.