As it searches for a new permanent president and CEO, the Community Foundation for Greater Atlanta has tapped veteran leader Virginia Hepner to serve as its interim executive.
Hepner was introduced as the interim at a meeting of Community Foundation staff members on Tuesday morning.
“We are thrilled to have Virginia in as interim,” said Julia Houston, board chair of the Community Foundation. “She’s a respected leader with deep Atlanta relationships and broad executive experience. We know she has the proven ability to lead organizations as they go through a transition.”
Hepner has had a great deal of experience in the nonprofit and for-profit sectors. She spent the first 25 years of her career as a bank executive before retiring from Wachovia in 2005.
That’s when her career shifted to the nonprofit sector. She served as interim executive director of Brand Atlanta for then-Mayor Shirley Franklin; as interim head of the Atlanta Ballet in 2009 and as interim executive of Young Audiences from Oct. 2010 to August 2011.
Then, in 2012, she became president and CEO of the Woodruff Arts Center until 2017.
Since then, she has been involved in real estate until 2022. She also has served on three corporate boards: Huntington Bank, National Vision Holdings Inc. and Oxford Industries.
Hepner also has been an engaged civic leader, serving on the board of the Westside Future Fund. She also is a former board member of the Community Foundation, and she currently services on its Housing and GoAtl Investment committees. Other civic roles include the Penn Institute for Urban Research, the WABE Foundation, the Russell Innovation Center’s finance committee, the Atlanta Jewish Film Festival and IWF Georgia.
When contacted about her serving as interim CEO of the Community Foundation, Hepner texted back: “I know, crazy!”
In all seriousness, Hepner said she feels a deep sense of gratitude for the Community Foundation, and she has a deep love for Atlanta.
“They are an anchor institution,” she said in a phone interview. “It’s not a troubled organization. It has great people and a great board. I think it will be an attractive role for the right person.”
The Community Foundation is working with BoardWalk Consulting on the national search.
Frank Fernandez, who has been president and CEO of the Foundation since 2020, is leaving to become president of the Reinvestment Fund in Philadelphia.
“When I reflect with what’s going on with the foundation, while our leadership is changing, our responsibility to the region and our work is moving forward,” said Houston, who also is the chief legal officer for Equifax.
The Community Foundation has $1.8 billion in assets, most of which are in donor-advised funds. It serves a 23-county region and has a team of about 50 people. From 2021 through 2025, the foundation took in nearly $1.2 billion in contributions and made more than $900 million in grants. It also earned $400 million in investment returns during that period.
“This is our 75th anniversary,” Houston said. “We feel as though we are heading into our next chapter from a position of strength with lots of opportunity to have a real impact on the metro Atlanta region.”
Houston said the plan is to name a new CEO later this fall. The timing works well, she said, because the Community Foundation intends to work on a new strategic plan next year.
Under Fernandez’s leadership, the Foundation made affordable housing a top priority. According to BoardWalk’s website, that priority will continue. But economic mobility and equity will also be key areas of focus.
In fact, the quote on the front of the job description says: “Inspiring and leading our region toward equity and shared prosperity for all.” While the Atlanta region continues to grow, it faces real disparities in income, wealth, housing and opportunity.
“I’m committed to a thoughtful, smooth transition as we search for a successor to Frank,” Houston said. “We are uniquely positioned to convene cross-sector leadership and help Atlanta to solve problems that are too large for any one leader or institution to solve.”
Meanwhile, Hepner said she is committed to the interim role until December.
“I’m not here to change the strategy,” Hepner said. “I’m just a steward. I’ll be amazed if they don’t select someone rather quickly.”
