KWCF+Annual+Report+2018.Pdf
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2018 ANNUAL REPORT 1 A Message from Our Board Chair 3 A Message from Our President & CEO 5 A Sincere Thank You 6 2018 Impact Numbers 7 2018 KWCF Volunteers 9 Innovation in Philanthropy 11 Waterloo Region Goes ALL IN to End Chronic Homelessness 13 A Family, a Business and a Community 15 A Sustainable Library of Things 17 Children’s Literacy: The Great Equalizer 19 A Legacy of Doing Good 21 A Family’s History of Service 23 Investing for Impact 25 How to Give 27 2018 Funds 31 KWCF Donor Bill of Rights 33 Donors: Accumulated Donations & Legacy Leaders 39 2018 Grants 45 2018 Financial Results 47 2018 Condensed Financial Statements 49 Our Team Making it easy for people to do more good “The impact is in the perpetuity of financial support. The impact will in fact be seen, year after year, through the lens of our not-for-profit sector as they address local priorities, working hard and successfully toward creating caring communities where everyone thrives. The larger the endowment, the bigger the impact, the more everyone thrives. Forever!” – Deborah M. Currie, Board Chair 1 A Message from Our Board Chair Brock Hart, David Brenneman, Eric Strassburger, John Milloy, Lori Payne, Mike Murray, Murray Gamble, Tim Jackson, Xiaopu Fung A message from our Board Chair The past two years have gone by so quickly. As I wind down my term traditional investment portfolio, we remain committed to making impact as Board Chair, I can’t help but reflect on my journey with Kitchener loans to organizations doing social good, and are working collaboratively Waterloo Community Foundation (KWCF) and be thankful for the with MaRS Centre for Impact Investing, Waterloo Region Barnraisers numerous opportunities I’ve had to learn, grow and get to know Waterloo Council and House of Friendship to develop a case study as a community Region better than I knew it before. I am constantly inspired by the resource to guide others interested in this funding path. To that end, passion, commitment and generosity of our volunteers, our Donors and KWCF was thrilled to have Tim Jackson join our Board in 2018. Tim has our Fundholders, and am completely in awe of our community’s relentless an extensive background in Impact Investing and was a member of the not-for-profit leaders, who work tirelessly toward building a strong social Canadian Task Force on Social Finance. His invaluable expertise and advice environment where no one is left behind. serve KWCF, and our community, very well. There has, however, been one consistent question that I have been asked Kitchener Waterloo Community Foundation, and the community over the past eight years: What impact does KWCF have on our community? foundation movement in general, have been a major force in my life for almost a decade. The Foundation has embarked on a significant amount For me, it’s simple. Since inception, the Foundation has collected, pooled of good work during my tenure on the Board, and I am incredibly proud and invested over $100M from philanthropists and organizations looking to have been a part of it. For this reason, I will continue to support the to forever make a difference in our community. Income earned by the Foundation long after I’ve left this wonderful Board of exceptional and permanent funds is distributed to support a broad range of community committed community champions and the incredibly dedicated staff team agencies, while the original investment is left to grow over time. that cares so deeply for Waterloo Region. I will look forward to watching The impact is in the perpetuity of financial support. The impact will in KWCF navigate, evolve and innovate over the next 10 years. fact be seen, year after year, through the lens of our not-for-profit sector as they address local priorities, working hard and successfully toward creating caring communities where everyone thrives. The larger the endowment, the bigger the impact, the more everyone thrives. Forever! I happen to think that this is a big, and unique, impact for our community. Deborah M. Currie Over the past year, KWCF has continued to thrive and adapt in our own Board Chair way to the needs of our stakeholders and our community. Alongside our A Message from Our Board Chair 2 A message from our President & CEO 2018 was an exciting year at Kitchener Waterloo Community Foundation. We rolled out a refreshed brand and aligned everything we do with our vision of “Making It Easy for People to Do More Good.” Recently, we also updated our values to ensure the beliefs that “At KWCF, we are drive our behaviours and results continue to resonate with the community. committed to being Let’s talk about KWCF values in action impact-focused catalysts, This has been a year of developing and seizing opportunities. We believe it is critical to the success of KWCF to be catalysts for who are collaborative, positive change. Our screening of the documentary The Invisible Heart was done to fuel conversation specifically about social impact inclusive and trustworthy.” bonds and impact investments more broadly as a mechanism to fund social and environmental initiatives across the region. The – Elizabeth Heald, President & CEO introduction of the United Nations' Sustainable Development Goals (SDGs) as an additional lens in our work is another example of how we are continuing to explore new approaches to deal with critical community issues. 3 A Message from Our President & CEO Impact Focused Catalysts Collaborative Inclusive Trustworthy A message from our President & CEO Strategic initiatives and investments made on behalf of the community partnered with us before. We also increased the number of volunteers need to make measurable and sustainable impacts in the communities on our Committees to both manage the growth in grant and impact we serve. In 2018, we provided 558 grants totalling in excess of $3.1 investment requests as well as to ensure broad representation that Million to 238 local charities and organizations. Since inception, mirrors the diversity of our community. KWCF has granted more than $47 Million; since 2017 we’ve deployed Whether it's an alignment with the Homelessness Housing Umbrella approximately $2 Million in impact investments. In 2019, we will be Group (HHUG) to develop the ALL IN 2020 Fund to end chronic working on tools to measure impact and report back on our findings. homelessness, or with Communitech to launch a pilot partnership As you know, the financial markets retreated into negative territory to connect the tech industry with opportunities for community in 2018. Following seven solid years of positive performance, we had impact, we understand relationships matter. This is a region filled with investment returns of -0.4% on our investment pool. After the last barnraisers, and we will continue to actively collaborate to leverage our market correction, our Board of Directors insightfully planned ahead community’s collective knowledge, expertise and resources to achieve for this type of year and implemented a granting stabilization policy the best results. to allow Fundholders to grant in years of lower returns. This forward- The current social environment has challenges that we recognize, but thinking approach will keep granting in 2019 relatively flat to 2018 we are also energized by the possibilities. At KWCF, we are committed levels. We understand the stewardship responsibility that has been to being impact-focused catalysts who are collaborative, inclusive entrusted to us, and we will continue to work with our dedicated and and trustworthy. With the support of our Fundholders, Donors and experienced Investment Committee to balance preservation of funds partners, we will continue to Do More Good. Forever. Together. with maximizing investment returns. We are a community foundation. So it is important that we engage voices from across our community. We believe in making connections, being inclusive and valuing diversity. In 2018, we made a concentrated Elizabeth Heald effort to reach out to charitable organizations that may not have President & CEO A Message from Our President & CEO 4 A sincere thank you FOR ASSISTING WITH OUR AUDITING NEEDS: FOR SUPPORTING A VARIETY OF IMPORTANT NEEDS: KPMG LLP AV Ontario Blitzen FOR ASSISTING WITH OUR LEGAL NEEDS: CarefreeIT Cober Miller Thomson LLP Community Support Connections – Meals on Wheels and More Decision.io FOR ASSISTING WITH OUR NEED FOR OFFICE Mennonite Central Committee – The Raw Carrot Soup Enterprise AND MEETING SPACE: One for the Wall Photography Bingemans School of Accounting and Finance, University of Waterloo BMO Nesbitt Burns Tomasz Adamski Photography Family & Children's Services of Waterloo Region The Working Centre – Fresh Ground Cafe Hacienda Sarria KidsAbility FOR ASSISTING WITH MEDIA SUPPORT: Kitchener Public Library 570 News snapd Kitchener/Waterloo Overlap Associates Cambridge Times Waterloo Chronicle Princess Cinemas Exchange Magazine Woolwich Observer Ridgewood Holdings Kitchener Post AND A SPECIAL THANK YOU TO OUR 2018 SPONSORS AND PARTNERS! This report was designed by Quarry Integrated Communications and printed by Cober. We want to thank them for their innovative ideas, partnership and ongoing support. 5 A Sincere Thank You 2018 Impact 13 -0.4% New Funds Rate of Return 202 238 Total Funds* Organizations Supported 490 558 Gifts Grants $2,097,286 $3,156,643 Gift Value Grant Dollars $617,820 $47,451,621 Largest Gift (Single Donor) Grant Dollars Since Inception *2017 fund total: 158. Added Named Community Funds to the total for 2018. 2018 Impact Numbers 6 2018 KWCF volunteers