National Philanthropic Trust 2010 ANNUAL REPORT GIVING THRIVES

Transcription

1 National Philanthropic Trust 2010 ANNUAL REPORT GIVING THRIVES

2 NPT DONOR-ADVISED FUNDS THRIVE IN GLOBAL DOWNTURN Despite the worldwide economic challenges that everyone faced last year, our donors showed great resolve by making significant contributions to their donor-advised funds. Thanks to their generosity, NPT reached the $2 billion mark in new gifts and $700 million in charitable assets under management. NPT also added three new financial partners Harris Bank, Hollencrest and ishares and expanded our services by allowing our largest donors to build customized investment portfolios. With our expertise in donor-advised funds and our growing presence in the philanthropic community, NPT is a leader in advocating for charitable giving and the changing world of philanthropy. Above all, we remain dedicated to our mission and to serving our remarkable family of donors, who assisted and advised in making grants of over $200 million in the last year. NPT remains one of the top 25 grantmakers in the U.S. As we strengthened our focus on donoradvised funds, NPT s management of the Breast Cancer 3-Day Walk ended in We are very proud to have supported and grown such a wonderful project over a remarkable seven years. Sincerely, Eileen Heisman President + CEO

3 ASSETS UNDER MANAGEMENT ($ MILLIONS) CONTRIBUTIONS, INVESTMENTS & GRANTMAKING GRANTS BY YEAR ($ MILLIONS) $ $699,206,757 $ $203,117, CUMULATIVE CONTRIBUTIONS ($ BILLIONS) $2,500 2,000 1,500 1, Contributions $2,111,807,681 $275,058,165 Cumulative Contributions CONTRIBUTIONS During this past year, NPT received over $275 million in donor contributions. Most of these gifts came in traditional forms, such as checks, stocks, bonds and mutual funds. Many, however, were contributions of complex and illiquid assets such as privately held stock, restricted stock, foreign securities, structured notes, real estate and gifts from wills and trusts. NPT not only facilitates gifts of these varied assets but also manages transfers from private foundations to donor-advised funds. And our seasoned professionals make the giving process easy for donors, regardless of the gift form. INVESTMENTS NPT continues to provide a broad and flexible investment platform, offering best-in-class investments that provide our donors with a variety of options. We continue to allow donors to customize their allocations among funds to meet their specific investment objectives. Investment vehicles include exchangetraded funds, mutual funds and separately managed accounts. Exchange-traded funds provide donors with the lowest investment fees possible, and our money market fund, solely invested in U.S. Treasury bonds, is for those donors seeking to safeguard their principal. For donors seeking active management, NPT has a suite of mutual funds and separately managed accounts provided by leading investment firms. We ve also added the option of discretionary investment portfolios for our largest donors. Working with their financial or wealth advisors, and subject to NPT s approval, donors may invest in individual equities, bonds, hedge funds, commodities and other complementary, structured strategies. NPT monitors the performance of our investments carefully. GRANTMAKING Our professional grantmaking staff helps our donors support a wide range of philanthropic interests and assists in developing challenge, matching, multi-year, memorial and anonymous grants. We have also developed grant agreements that secure naming rights to buildings and programs, endowed chairs at major colleges and universities and coordinated grant contests that award charitable prizes. For donors who have international interests, we can make grants to meet charitable needs around the world. We are among the few donor-advised fund programs that make direct grants to charities outside of the United States. For example, we funded organizations working to relieve suffering caused by earthquakes in Haiti and Chile and the flooding in Pakistan. We know that donors seek quick response to their charitable giving. Our donor services team processes grants weekly. When the need is critical, we can further accelerate our process to ensure that vital support is delivered promptly GRANTS BY AREAS OF INTEREST EDUCATION 26% HEALTH 23% PUBLIC, SOCIETAL BENEFIT 20% CULTURE, ARTS 8% HUMAN SERVICES 8% RELIGION 8% INTERNATIONAL 7% 3.

4 NATIONAL GRANTS GIVING, AT HOME & AROUND THE WO RLD INTERNATIONAL GRANTS 1. California: A nautical educational program is financed that teaches problem-solving skills, decision-making, planning and self-reliance to teenagers. 2. Florida: The All Faiths Food Bank receives a significant donation to assist with its Growing Healthy Kids initiative. 3. Hawaii: Financing provided for a state-wide effort to promote the symphony and the appreciation of classical music. 4. Massachusetts: Clothing and school supplies are provided to low-income families and homeless children. 5. Minnesota: Grant helps with a concerted effort to recover the original land that belonged to the White Earth Indian Reservation. 6. Montana: Tibetan children now living in U.S. receive money for education and to preserve their native culture Australia: Funds help to build and sustain learning clubs for disadvantaged children. 12. Canada: Property is purchased for the construction of a new community day care facility. 13. Chile: In addition to disaster relief funds, a system of recycling waste is financed. 14. China: New resources are created for the development of women and their role in Chinese society. 15. England: Grant helps a leading institution based in London to research the effects of climate change and provide clean, renewable power to the world s poorest countries. 16. Germany: Materials are purchased for professional training courses that benefit lower income students. 7. New York: The position of Palliative Care Nursing Specialist, which helps patients and families deal with serious illness, is funded by this grant. 8. Pennsylvania: An orchestral rehearsal room is financed at the Curtis Institute of Music in Philadelphia. 9. Texas: Grant money helps to finance a world-leading foundation in psychiatric treatment, research and education Haiti: Hundreds of thousands of grant dollars go to support rehabilitation efforts that followed the 2010 earthquake. 18. Japan: A new Entrepreneurship Center is started at Kyushu University. 19. Jordan: Funds support the Madrasati Initiative, which repairs and restores schools to make them safer, brighter, more inspiring learning environments. 10. Washington D.C.: An emergency fund is established for medical house calls which will provide assistance, service and supplies to home-bound elders Tanzania: Grant provides support for Africa Bridge, which empowers communities to protect vulnerable children through integrated sustainable development. 5.

5 PARTNERS IN GIVING CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2010 & Assets Cash and cash equivalents $ 175,387,374 $ 226,877,269 Investments 525,555, ,937,332 Receivables Receivables for investments redeemed 3,409, ,476 FINANCIAL SERVICE PARTNERS NPT is proud to welcome its new financial firm partners Harris Bank, Hollencrest and ishares strengthening a group that includes J.P. Morgan, J.P. Morgan Securities, Legg Mason, Morgan Stanley Smith Barney, Pitcairn and UBS. All of our partners provide private label donor-advised funds to their clients, and NPT provides complete support services, including donor contribution and grant processing, accounting and financial oversight and private label web platforms for the management of individuals donoradvised funds. DR. ROBERT C. AND VERONICA ATKINS FOUNDATION NPT has made grants of over $29 million from the Dr. Robert C. and Veronica Atkins Foundation. Through these grants, the Foundation has invested in the advancement of nutritional science and the formulation of nutrition public policy. The Atkins Foundation has endowed chairs at major universities, funded research on the effects of nutrition on disease and sponsored programs for children on healthy dietary habits. BREAST CANCER FIELD OF INTEREST FUND The NPT Breast Cancer Fund was created from NPT s portion of the net proceeds of the Breast Cancer 3-Day, and its mission is to positively impact the battle to defeat the disease by supporting and promoting research and community-based organizations that are fighting it. The fund provides unrestricted awards to groups that clearly demonstrate their effectiveness in research as well as education, prevention, screening and care programs. The fund has thus far granted over $24 million to such programs and initiatives throughout the United States. Contributions and donations receivable, net 620,979 53,004,917 Other receivables 887, ,960 Prepaid expenses 33,997 1,267,955 Equipment, net 63, ,462 Other assets 2, ,936 Total assets $ 705,961,864 $ 638,160,307 Liabilities and Net Assets Accounts payable and accrued expenses $ 773,156 $ 3,896,964 Asset management fees payable 71, ,685 Long-term debt 825, ,000 Grants payable 31,031,485 52,577,207 Total liabilities 32,700,983 57,412,856 Net assets Total unrestricted net assets 673,260, ,747,451 Total liabilities and unrestricted net assets $ 705,961,864 $ 638,160,307 7.

6 CONSOLIDATED STATEMENTS OF ACTIVITIES YEARS ENDED JUNE 30, 2010 & Support, revenue and gains Contributions $ 221,044,528 $ 188,469,512 NPT 3 Day donations and registration fees 54,717, ,945,488 Dividend and interest income 9,963,777 10,932,128 Net realized and unrealized gains (losses) on investments 34,454,750 (90,239,793) Administrative and maintenance fees 386, ,057 Other income 97,850 1,242,734 Total support, revenue and gains 320,665, ,580,126 NPT BOARD AND STAFF Expenses Grants to charitable organizations 203,117, ,211,254 Program services 7,618,250 19,505,957 Fundraising 11,831,004 31,723,379 General and administrative 5,584,800 7,317,161 Total expenses 228,151, ,757,751 Change in net assets 92,513,430 (11,177,625) Unrestricted net assets, beginning 580,747, ,925,076 Unrestricted net assets, ending $ 673,260,881 $ 580,747,451 Board of Trustees Jeffrey Lauterbach Chair John Fulvio Eileen R. Heisman, President Cecilia Mendez Hodes Dirk Jungé Joseph Kluger Rosalyn J. McPherson Sharon Mueller June Noronha Clark D. Pitcairn Wayne R. Walker Senior Management Eileen Heisman President and CEO Thomas Grace Chief Operating Officer Margaret Bandera Vice President and Treasurer Andrew Hastings Vice President Business Development Patricia Renzulli Vice President Marketing Diane Fitzgerald Assistant Vice President Donor Services

7 165 Township Line Road, Suite 150 Jenkintown, PA Phone: or Fax: National Philanthropic Trust (NPT) is a public charity dedicated to providing philanthropic expertise to donors, foundations and financial institutions, enabling them to realize their philanthropic aspirations through the use of donor-advised funds. Founded in 1996, NPT is among the 100 fastest growing charities and one of the top 25 grantmakers in the United States with $700 million in assets under management. Since its inception, NPT has raised over $2 billion in charitable assets, and made over 44,000 grants to U.S. and international charities totaling $1 billion. NPT is led by a national board of trustees and a team of professionals with more than 200 years of philanthropic experience. For more information, visit