COMMUNITY FOUNDATION INTRODUCTION

Transcription

1 COMMUNITY FOUNDATION INTRODUCTION

2 Brad Hurlburt President & CEO Danielle Cameron Vice President for Personal & Family Philanthropy Renee Constantino Vice President for Community Investment Lisa Huertas Major Gifts Officer

3 About Us History: Founded 1972 Area Served: Palm Beach and Martin counties Number of Funds: 300+ and growing! Total Assets: $160 million Grants Awarded: more than $128 million since inception FY Highlights: $8.94 million in grants and scholarships; over $1 million in scholarships to 123 students Total scholarships awarded $9.3m to 1,923 students There are more than 700 community foundations across the country.

4 What we do Build community by fostering collaborative relationships and facilitating conversations that address emerging challenges Promote philanthropy as a community investment, and work to grow charitable giving to all nonprofits in the region Provide stewardship that creates long-term sustainability for philanthropic mission and purpose

5 Why partner with the Community Foundation? Proven track record of endowment-building and fund management expertise. Technical assistance with planned gifts that benefit the endowment. Gift processing and administrative service. Reduced or eliminated ongoing administrative burdens. Yearly income in perpetuity.

6 Young Singers of the Palm Beaches Why partner with the Community Foundation? Nonprofit toolkit to assist your organization with planned giving fundraising Collaborative relationship with the Community Foundation Professional liaison assigned to Nonprofit Fundholders Annual Nonprofit Fundholders Meeting Forever Arts Challenge Grant Winners Planned Giving Workshop annually for Nonprofit Fundholders

7 Financial Overview Our mission to ensure that the charitable dollars entrusted to us are available to the community forever How do we do this? Our Board of Directors/Investment Committee: Manages our investment portfolio Establishes investment policy Implements asset allocation Sets benchmarks Monitors individual investments managers Adheres to 4.75% spending policy 7% total investment return since inception Our partners: Prime Buchholz & Associates independent consulting firm Holyfield & Thomas LLC independent auditors managed by Audit Committee

8 Investment Committee Works closely with staff and independent consulting firm Prime Buchholz & Associates to: Establish investment policy Implement asset allocation Set benchmarks Monitor the individual investment managers and their performance Anson Beard, Jr. Roy Zuckerberg William M. Matthews Ray Celedinas J. Ira Harris Peter Matwiczyk Eliot Snider Douglas Stockham

9 $160 $140 $120 $100 $80 $60 $40 $20 $0 Growth of our Endowment (as of June 30, 2015) Our permanent pool invested for long-term growth *Figures in millions

10 Nonprofit Endowments An investment in the future Building a long-term, revenue-producing endowment is one of the best ways a nonprofit can build a stable financial future. Families First of Palm Beach County Peggy Adams Animal Rescue League

11 Nonprofit Endowments will: The Benefits Protect your organization s endowed monies for future needs. Provide annual income, depending on market performance. Demonstrate to donors a commitment to long-range financial planning. Offer donors a way to give complex gifts such as stock, life insurance, property, gift annuities or remainder trusts. Increase investment yield, as nonprofit endowments are pooled with the Community Foundation s other funds to provide maximum return and lower fees.

12 TOMORROW The Power of Endowment Thomas Ladue McGinty Memorial Environmental Fund BACKGROUND Resident of Ocean Ridge Amateur naturalist and malacologist Left a bequest of $81,000 in 1988 Gifted over $210,000

13 TOMORROW The Power of Endowment The Growth of the McGinty Fund Assets $220,461 $210,000 total grants $81, Since 1988, initial gift multiplied by five times and has given away two and a half times its value!

14 TOMORROW The Power of Endowment The Effect of the McGinty Fund The McGinty Fund has provided the resources for planting thousands of trees and environmental education for hundreds of teachers and children.

15 Frequently Asked Questions Is there a fee for managing an nonprofit endowment? Yes. There is a 1% administrative fee of the fair market value of the fund. What is the average investment return? 7% net of fees and transaction costs. Why set up an endowment with the Community Foundation rather than setting one up on their own? The Community Foundation affords nonprofit organizations the opportunity to participate in expert investment strategies that may not be available to them otherwise.

16 Frequently Asked Questions How long does my nonprofit have to have been operating? There will be four years of IRS 990s required. What other requirements will there be? The Community Foundation is looking for organizations that demonstrate institutional readiness, financial stability, fundraising maturity, a commitment to planned giving and building endowment for the future. Additional requirements? If you are invited to submit a full proposal, your organization will also need to supply a current annual budget, your most recent audited financial statement, your Board list, and your Conflict of Interest Policy.

17 Questions? Brad Hurlburt or Lisa Huertas or

18 Your Philanthropy. Our Community. Better Together.