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ANNUAL REPORT 2015 CFOV Community Foundation for the Ohio Valley

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ANNUAL REPORT 2015 CFOV Community Foundation for the Ohio Valley CFOV Community Foundation for the Ohio Valley ANNUAL REPORT 2015 CFOV Community Foundation for the Ohio Valley FISCAL YEAR 2014 | JULY 1, 2014 - JUNE 30, 2015 DEAR FRIENDS OF THE FOUNDATION What does a life-size stainless steel elephant sculpture and group of local college students have in common? In 2014-2015, both were supported by funds of the Community Foundation for the Ohio Valley! The brand new elephant, named “Bobo” is a sculpture created for one of Downtown Wheeling’s urban green spaces. The project was a part of Reinvent Wheeling’s Design Committee, led by local community activist, Susan Hogan. Funding for the elephant was provided by a generous donation to the Reinvent Wheeling Fund of CFOV by Flip and Gary West. Local metal artist, Jeff Forster, created the elephant and several other animals for Wheeling’s Heritage Park Sculpture Garden at the corner of 11th and Main Streets. It has become a popular place for selfies (or “elphies”) for those who enjoy social media. The young people on the cover in front of Bobo are members of the 2015 Civic Leaders Fellowship Program. These local college students were provided paid internships within their field of study through the program, which is funded by the Claude Worthington Benedum Foundation with additional support provided by the Schenk Foundation and the Mary Ann Hess Fund of CFOV. We decided to put Bobo and the Civic Leaders Fellowship students on the cover of our annual report because the diversity of these two projects perfectly illustrates just two examples of ways people can give back to their community through a community foundation. The Wests chose to support local community art and downtown revitalization. The Benedum Foundation, Schenk Foundation, and Mary Ann Hess Fund’s advisors recognize the need to retain our region’s young people through the Civic Leaders Fellowship Program. What can you fund through the community foundation? If it involves improving the Upper Ohio Valley through philanthropy, just about anything. It is much easier than you probably think. Let us show you how. Robert M. Robinson Susie Nelson President, Board of Trustees Executive Director CFOV | REPORT TO THE COMMUNITY | 2015 1 TABLE OF CONTENTS 3 CONSIDERING A FUND AT THE COMMUNITY FOUNDATION? 4 2015 CIVIC LEADERS FELLOWSHIP PROGRAM 5 AMAZING RAISE OHIO VALLEY 6 JOIN US IN WELCOMING THE NEW FUNDS OF CFOV SERVING HANCOCK COUNTY 8 STRATEGIC GRANTMAKING AND GIVING BACK 10 COMPONENT FUNDS OF THE COMMUNITY FOUNDATION 12 FUND GIFTS 20 GRANTS & DISTRIBUTIONS 24 SCHOLARSHIP FUNDS 28 FINANCIAL STATEMENTS 32 TRUSTEES, COMMITTEES, STAFF, & BANKS CONFIRMED IN COMPLIANCE WITH NATIONAL STANDARDS FOR US COMMUNITY FOUNDATIONS. 2 FISCAL YEAR 2014 | JULY 1, 2014 - JUNE 30, 2015 CONSIDERING A FUND AT THE COMMUNITY FOUNDATION? Opening a fund at the WHAT TYPE OF FUND IS RIGHT FOR YOU? Community Foundation for the Ohio Valley is simple and DONOR ADVISED FUNDS (DAF) are probably the most popular type of fund at any community foundation and provide for the most flexibility for the donor. A DAF is a fund in which the donor, or a committee designated by the donor, may can be done in just one day. recommend to CFOV grants to eligible charitable recipients. Such funds are designed to encourage the participation and involve- Funds can be established at ment of a wide range of living donors in the philanthropic interests and activities of CFOV. The minimum amount to open a Donor CFOV through gifts of cash, Advised Fund is $10,000 for non-endowed, $25,000 for endowed. publicly traded securities, or SCHOLARSHIP FUNDS are a great way to support local students wishing to pursue higher education. With the cost of more complex property such college tuition these days, a Scholarship Fund can go a long way to assist an individual attain their degree. The gift of education as restricted stock, closely that a scholarship bestows benefits not just the student, but the community as well. Because of the legal stipulations in place re- held securities or real estate. garding scholarship funds, administration can be complex. The Community Foundation staff is educated on the most current laws Donations will either fund regarding the administration of scholarship funds. We would welcome the opportunity to talk about how scholarship funds work and how you can provide the gift of education to local students. The minimum amount to open a Scholarship Fund is $25,000. endowed or non-endowed funds within CFOV. DONOR DESIGNATED FUNDS identify and support one or more specific nonprofit organizations in perpetuity. Donor Designated Funds provide an annual grant to these organizations. For many donors, this is an ideal way to provide ongoing support for organizations that they have supported over the years. Oftentimes Donor Designated Funds are established as a part of What is the difference between someone’s estate plan, but there is no reason why a Donor Designated Fund cannot be established during a donor’s lifetime. The endowed and non-endowed minimum amount to open a Donor Designated Fund is $10,000. funds? We’re glad you asked! Endowed funds are funds that are meant to FIELD OF INTEREST FUNDS provide grantmaking in a particular area such as human services, affordable housing, last forever. To make that happen, endowed public education, the arts, or animal welfare. The Board of Trustees of the Community Foundation annually determines the best use funds are invested and only spend either a of Field of Interest Funds based on the donors’ selected field of interest and defined geographic area. small percentage or just the income earned every year for charitable purposes. Non- AGENCY ENDOWMENT FUNDS are permanent funds established by a charity that designates itself as the endowed funds may be completely spent beneficiary. Agency endowments help ensure the continuity of programs, and can provide resources to meet emergencies and down for charitable purposes. Non-endowed occasional financial deficits. Agency endowments free the charitable organization from administrative burdens of managing funds may make more grants annually, but endowed assets, by turning over responsibility for asset investment and administration to the community foundation staff more they are not intended to stand the test of skilled in these areas. The minimum amount to open an Agency Endowment is $25,000. time. Endowed funds will make more grants provide grants that meet the changing needs of the region. Unrestricted funds allow the for the life of the fund, benefitting the donor’s UNRESTRICTED FUNDS Community Foundation to annually make grants through a competitive application process through our Community Impact Fund. charitable intent forever. An unrestricted gift to the Community Impact Fund can be of any size and is welcome at any time. A named Unrestricted Fund minimum is $10,000. CFOV | REPORT TO THE COMMUNITY | 2015 3 2015 CIVIC LEADERS FELLOWSHIP PROGRAM Through continued partnership with the Parkersburg Area Community Foundation and continued support of the Claude Worthington Benedum Foundation, the Schenk Foundation and the Mary Ann Hess fund, the third Civic Leaders Fellowship Program was held in 2015. One of the goals of this program are to expose local youth to opportunities of employment in the Ohio Valley in an effort to retain them for the Ohio Valley’s workforce in the future. The 2015 Civic Leaders Fellowship Program placed seventeen local college students with paid internships at businesses in Ohio and Marshall Counties in WV and Belmont County, Ohio. The program is structured into three categories consisting of first year students, second year students and third year students which reflect how many years they have participated in the program. Each student intern worked at host sites in their field of interest Monday through Thursday for six weeks. Every Friday throughout the six weeks was reserved for special programming regarding student enrichment, and community involvement. Our 14 first year students spent their time on Fridays learning about the Ohio Valley, economic development, arts and culture, county and state governance, and also heard from several speakers in the topics of personal and professional development. The second year students spent their Fridays learning about nonprofits in our area and visited several of them to learn more about their mission and work. They concluded their program with a grant proposal to our advisory committee and ultimately awarded two worthy organizations with mini-grants. Finally, the third year student spent his time working on his networking skills and creating contacts in his field of interest. Placement locations for Civic Leaders students in 2015 included generous businesses and organizations willing to host and mentor these local college students. These included Kalkreuth Roofing & Sheet Metal, Oglebay Institute, Hays Landscape Architecture Studio, Elmhurst, Wheeling National Heritage Area Corporation, Ziegenfelder’s, Touchstone Research Laboratory, Youth Services System, Main Street Bank, the Gabriel Project, the Ohio County Health Department, King’s Daughters Child Care Center, Easter Seals Rehabilitation Center, Belomar, U.S. Bankruptcy Court, the Wheeling Convention & Visitors Bureau, and Orrick. 4 FISCAL YEAR 2014 | JULY 1, 2014 - JUNE 30, 2015 2015 CIVIC LEADERS FELLOWSHIP PROGRAM AMAZING RAISE OHIO VALLEY 2015 MAY 5, 2015 ~ Staci Stephen The Community Foundation for the Ohio Valley hosted essential services to our community. It is one of the the 2nd annual Amazing Raise Ohio Valley on May 5, compelling things about living in the Ohio Valley. 2015. During this 24-hour, online giving event, every Everyone wins when our entire community comes donation made on www.giveov.org benefitted local together to help one another,” said Staci Stephen, nonprofit organizations throughout the Ohio Valley. Director of Development at Augusta Levy Learning Center, one of the many nonprofit organizations who The Amazing Raise Ohio Valley was born out of Give have raised significant funds through the Amazing Local America, an initiative created by the Council on Raise.
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