Meeting of the Board of Trustees March 19, 2020, 8:00-10:00 am The Duquesne Club, Chalfant Room, 325 Sixth Avenue, Pittsburgh, PA 15222 Conference Dial In: 1-866-906-9888, Code: 2916309
Agenda
I. Call to Order / Opening Prayer
II. Moment of Mission
III. Approve Minutes 1. 10/3/19 Draft Minutes, p.3-6 2. 12/11/19 Draft Minutes, p.7-9
IV. Consent Agenda a. Risk, Quality, Compliance, and Mission Advancement Committee Report, p.10 b. 2019-2020 Performance & Quality Improvement Plan, p.11-26 c. HR Committee Report, p.27 d. Investment Committee Report, p.28 e. 401K Oversight Committee Report, p.29-31 f. Nazareth Prep Board Report (March2020), p.32-33 g. 12/31/19 YTD Financial Statements, p.34-40
V. Governance & Nominating Committee Report 1. Recommend Candidates for Appointment, p.41-44 2. CSFN Ministry Leadership Retreat-April 4, 2020 - Cancelled
VI. Accept 2018-2019 Audited Financial Statements, p. 45-61
VII. 12/31/19 Investment Report, p.62-66
VIII. Executive Vice President and C.O.O. Report 1. Fundraising Update 2. Master Plan, p.67-71 3. YES Fund 4. Golf Committee 5. Internship Referrals, p.72-74
IX. President/C.E.O. Report 1. Current Strategic Plan Update, p.75
X. Dates to Remember June 2 – St. Joseph the Worker June 4 – Nazareth Prep Graduation July 27 – HFI Golf Outing
XI. Action Items
1 XII. New Business / Adjournment
______Attachments: 10/3/19 Draft Minutes, p.3-6 12/11/19 Draft Minutes, p.7-9 Risk, Quality, Compliance, and Mission Advancement Committee Report, p.10 2019-2020 Performance & Quality Improvement Plan, p.11-26 HR Committee Report, p.27 Investment Committee Report, p.28 401K Oversight Committee Report, p.29-31 Nazareth Prep Board Report, p.32-33 12/31/19 YTD Financial Statements, p.34-40 CV’s of Board Candidates , p.41-44 18-19 Audited Financial Statements, p.45-61 12/31/19 Investment Report, p.62-66 Master Plan, p.67-71 Internship Program, p.72-74 Strategic Plan Update, p.75
2 Meeting of the Board of Trustees October 3, 2019, 8:00 to 10:00 am Peoples Gas-375 North Shore Drive, Pittsburgh, PA 15212 Conference Dial In: 1-866-906-9888, Code: 2916309
Present: Morgan O’Brien, Chair; Jim Haggerty, Vice Chair/Treasurer; Michael Sexauer, Executive Director; Charles Casalnova, Tim Holt, Mark Matera, Nick Vari Via Phone: Ralph Fischer, Secretary; Anna Clark-Emerick Excused: Sister Linda Yankoski, President; Laura Karet By Invitation: Megan McCue, Joseph Oliphant, Mark Palastro, Paul Stabile
I. Call to Order / Opening Prayer With a quorum present, Morgan O’Brien, Chair, called the meeting to order at 8:00 am, and Michael Sexauer, Executive Director, opened in prayer.
II. Moment of Mission The Trustees watched a video that was made over the summer to highlight the Holy Family Service Corps program.
III. Approve 6/12/19 Draft Minutes The 6/12/19 draft minutes of the meeting of the Holy Family Foundation (HFF) Board of Trustees were presented for approval.
A motion was made and seconded to approve the minutes as presented. All in favor. Motion carried.
IV. Chairperson’s Report Trustee Self-Evaluation Results M. O’Brien pointed out the Trustee Self-Evaluation results in the meeting materials and asked for input from the Trustees. One of the items that was answered negatively most frequently across all three boards was related to recommending individuals for board service. M. Sexauer shared that there are four candidates pending approval by the Governance and Nominating Committee for board service, so appointing new Trustees to the Boards is in progress.
HFF Trustees Report from 9-25-19 Holy Family Institute Board Meeting M. O’Brien then called on Mark Matera to review highlights from the 9-25-19 Holy Family Institute (HFI) Board meeting, including a proposed revision to the HFI Bylaws to include a Director Emeritus status and the first three individuals recommended for appointment as Directors Emeritus; the HFI Director self- evaluation results; the amended Risk and Compliance Plan; the potential expansion of the Journey of Hope program into a second site; a new county program called Hello Baby for which HFI has submitted a proposal that would entail providing services to at-risk families with a newborn; a review of the progress toward the 2019-2020 strategic plan goals; HFI advocating for rate increases in several programs; and the plans to being a comprehensive campaign quietly in 2020 and go public in 2021. M. Matera and J.
3 Haggerty will be attending all HFI Board meetings in the 19-20 year to enhance communication between the HFI and HFF Boards.
V. Nazareth Prep Nazareth Prep Principal, Joe Oliphant, provided updates on Nazareth Prep’s enrollment and the new school year. There are 85 new freshmen enrolled this school year, the largest freshman class in the school’s history. The school is accepting transfer students, but there is a waiting list for the freshman class.
In reviewing students’ addresses, Nazareth Prep has discovered that each year students are getting closer to the school in proximity. This is a positive finding from a transportation perspective. Fourteen sibling groups are attending Nazareth Prep currently, which, along with word of mouth referrals and winning the WPIAL championship, has accounted for the enrollment growth the school has seen this school year. Nazareth Prep is also seeing more public school students transition to private school. Admissions exams are now being coordinated with open house dates so that families can get a tour of the school immediately following the admissions exam.
J. Oliphant then provided a description of the 9th grade mentor program, which is required for the students who participated in the Partner4Work Summer Bridge program, though the school has extended the mentor program to the entire freshman class. Mentors come to the school every two weeks for 30-60 minutes to mentor the freshmen students. Additional mentors are needed, and the Trustees were asked to consider being mentors or recommending someone to be a mentor. M. O’Brien shared that the University of Pittsburgh had its own mentor program in which the student athletes mentored younger children. M. Sexauer will contact John Pelusi to learn more about Pitt’s mentoring program.
VI. Holy Family Institute M. Sexauer reviewed progress toward the 19-20 strategic plan goals as presented on the previously distributed strategic plan chart. He shared that the SHORES program did get a 12% rate increase, and HFI also expects an increase for the Allegheny In-Home program. These increases will be partially passed along to staff in the form of salary increases and will hopefully help to retain employees in those programs. HFI kicked off its comprehensive campaign on September 25, with the “Cocktails at the Convent” event.
VII. Executive Director’s Report M. Sexauer then further discussed the comprehensive campaign. HFI is planning to do a master plan of the entire campus, the Annex Building, and the Seville School to assess use of space. DLA has been asked to prepare a proposal for completing a comprehensive master plan, which would include digitizing all blueprints. An initial estimate on the cost of this master plan is $55,000-$65,000. The master plan will be a physical manifestation of the strategic plan and will used as a case for support during the comprehensive campaign. Since this expense was not included in the 19-20 budget, the HFF Board was asked to approve this variance from the budget. Rather than adding this additional expense to the HFF budget, M. O’Brien offered to add the expense to the comprehensive campaign contribution of $500,000 that Peoples Gas has already pledged. The HFF Board agreed to this.
M. Sexauer introduced new Director of Development Paul Stabile, who provided details on HFI’s Courage House award honoree, the current Miss Pennsylvania, who was adopted from HFI when she was a baby.
4 Contributions from individuals of PA income tax credits to the YES Fund and other scholarship funds increased to $293K.
A recent allegation of abuse against HFI that occurred in the 1970’s has gotten widespread media attention. HFI is working in collaboration with its insurance carriers to handle this claim, and no additional media coverage has ensued.
Nazareth Prep will be forming an internship committee whose main goal will be to secure additional funded internships. The Trustees encouraged the inclusion of current internship partners on the committee who have been very engaged. Nazareth Prep partners with approximately 60 companies who host students and provide a contribution, with a total of about 130 funded internships. The average contribution per student is about $11,000. The Trustees suggested asking paying companies to if they would be interested in funding students whose internships are at nonprofits.
VIII. Finance Report Jim Haggerty reported the highlights of the second quarter investment report. The portfolio value as of 6/30/19 was $7,475,747, gross of fees. Since May, there have been two withdrawals totaling $700,000 ($300,000 in May and $400,000 in July). The year-to-date return of the portfolio is 12.28%, net of fees. The equity/fixed income allocation remains 64/36. The planned withdrawal from the portfolio to support Nazareth Prep this fiscal year is $650,000, which will hopefully be the last withdrawal for the high school. The portfolio is designed with a long-term outlook, so changes to funds and allocations are not immediately made in reaction to drops in the market.
Mark Palastro, CFO, then provided an overview of the 6/30/19 HFF unaudited results. HFF ended FY19 with a deficit of $35,524 versus a budgeted deficit of $744,892, or a favorable variance of $739,368. This favorable variance was due to higher donations, higher return on investments, and a lower grant to related parties. These results were an improvement of $925,000 compared to the FY18 year-end results. The value of the investment portfolio as of 6/30/19 was $7,475,747 compared to $7,870,696 as of 6/30/18. Withdrawals from the portfolio totaled approximately $800,000 in the 18-19 fiscal year.
M. Palastro then reviewed budget variance in more detail. Donations from the Hillman Foundation, PricewaterhouseCoopers, Pittsburgh Foundation, and board member donations were above budget. Tax credit funding appears to be under budget, which is partly due to YES Fund tax credit dollars ($293,500) being distributed directly to Nazareth Prep as opposed to being passed through HFF. Special events revenue was below budget, and $15,587 in miscellaneous income was from Range Resources royalties and interest earned on a donated life insurance policy. Salary expenses were under budget because of not filling a vacant position for part of the year, printing expenses were under budget because of allocating these expenses to the appropriate program, expenses related to fundraising were under budget due to lower mailing expenses, and the grant to related party was under budget because the entire budgeted grant of $1.1 million for Nazareth Prep was not needed.
HFI is down to 40 days’ worth of cash on hand as of August 31, 2019, which is below the cash reserve policy that requires 60 days’ worth of cash on hand. The Trustees requested that management research HFF’s $3.3 million in permanently restricted funds to determine if any of the restrictions can be lifted. Prior research in the organization’s archives did not uncover evidence of restriction end dates, but additional research will be completed.
5 A motion was made and seconded to approve the 6/30/19 HFF unaudited results. All in favor. Motion carried.
IX. Action Items The following are the action items that arose during the meeting: • Discuss the University of Pittsburgh mentoring program with John Pelusi. • Send a one-page mentoring program description to the Trustees. • Begin an Internship Committee whose focus will be on securing new funded internship partners. • Form a stakeholder group surrounding the master plan process. • Continue researching restricted funds in HFF to determine if any can be released from restriction.
X. Adjournment With no further business to discuss, the meeting was adjourned at 9:27 am.
Respectfully submitted,
Ralph Fischer, Secretary Holy Family Foundation Board of Trustees
6 Annual Meeting of Holy Family Institute Board of Directors Holy Family Foundation Board of Trustees Nazareth Prep Board of Trustees December 11, 2019 4:00 pm-6:00 pm Carnegie Science Center-Rossin Discovery Suite 1 Allegheny Avenue, Pittsburgh, PA 15212
Present: From Holy Family Institute Board: Staci Brogan, Chair; Mark Minnaugh, Treasurer; Rosemary Corsetti, Secretary; Sister Linda Yankoski, President; Loretta Adams (via phone), Francine Cameron, Sister Maria Kruszewski, Aman Kohli, Father Tom Schaefer, Sally Wade, John Wingerter, Robert Young From Nazareth Prep Board: Father Tom Schaefer, Chair; Anthony Petroy, Vice Chair (via phone); Chris Phillips, Treasurer; Bill Cullen, Secretary; Sister Linda Yankoski, President; Mike Engle, Judi Griggs, John Olszewski, Mike Owens (via phone), Ken Service From Holy Family Foundation Board: Sister Linda Yankoski, President; Michael Sexauer, Executive Director; Anna Clark-Emerick (via phone), Mark Matera, Nick Vari By Invitation: Sister Loretta Theresa Felici, MMI President; Ron Bogan, Elisa Cavalier, John Putzier, Meg Bernard, Kristen Goodell, Lynn Guerra, Megan McCue, Mark Palastro, Kim Radler, Emily Roth, Latonya Salley-Sharif, Vince Tarquinio, Toni Whitehead
I. Call to Order / Welcome / Introductions With a quorum present from the Holy Family Institute (HFI) and Nazareth Prep Boards, Staci Brogan, HFI Chair, called the meeting to order. She acknowledged special guest, John Putzier, and announced the approval by MMI of the appointment of three Directors Emeritus, Fran Daily, John Pelusi, and Allan Woods, who were not able to attend the meeting. Sister Linda Yankoski, President, then opened in prayer.
II. Accept FY2019 Independent Financial Audit for Holy Family Institute and Affiliated Corporations John Olszewski, Audit Committee Chair, presented highlights of the FY19 audit reports for HFI, Nazareth Prep, and Holy Family Foundation (HFF). The audit did not uncover any findings that would warrant a formal management letter for any of the three corporations. The footnotes are essentially the same year to year, with a footnote surrounding potential litigation exposures added to the HFI report. The asset mix for the HFF investment portfolio at fiscal year-end was 63% equity and 37% fixed income, and the overall rate of return on investments in HFF for FY19 was 5.4%, compared to 6.7% the prior year. Nazareth Prep received a grant of $823,000 from HFF in FY19, compared to a grant of $1.5 million in FY18. HFI had an increase in revenue of over $2.5 million due to increased activity in the Journey of Hope (JOH) program, and the Home-Based Family Recovery and PACT programs both nearly doubled in size from FY18 to FY19. None of the Directors or Trustees had questions about the 18-19 audited financial statements.
A motion was made by Mark Minnaugh and seconded by Sally Wade to accept the 2019-2019 HFI audited financial statements. All in favor. Motion carried.
A motion was made by John Olszewski and seconded by Chris Phillips to accept the 2018-2019 Nazareth Prep audited financial statements. All in favor. Motion carried.
A quorum from the HFF Board was not present, so acceptance of the HFF audited financial statements did not proceed.
7 III. Annual Report of Holy Family Institute & Affiliated Corporations Staci Brogan called on Michael Sexauer, COO, to present the “Moment of Mission” and the annual report of HFI, Nazareth Prep, and HFF. For the “Moment of Mission,” Directors and Trustees watched a video featuring HFI’s Courage House Award recipient, Tiffany Seitz. M Sexauer also presented an overview of a pilgrimage to Des Plaines, IL that he, Sister Linda, Joe Oliphant, and leaders from other sponsored ministries attended to learn more about the history of the Sisters of the Holy Family of Nazareth and the establishment of the United States Province in 1885.
M. Sexauer reviewed data for FY18 versus FY19 for HFF, Nazareth Prep, and the HFI programs as follows: • JOH increased its revenue from $4.996 million to $7.812 million year to year and served over 100 more children in FY2019 than FY2018. A new three-year proposal was submitted to the federal government in November, which includes a proposed expansion to the Felician Sisters’ campus in Moon Township. • Due to recruitment and retention challenges in the SHORES program, the program’s revenue decreased from $910,000 in FY18 to $685,000 in FY19, and it ended the FY19 year with a deficit of $145,000. • The Family Focused Solution Based program continues to consistently produce a surplus, ending the FY19 with a surplus of $153,000. • The Outpatient program increased revenue in FY19 but also increased expenses due to an increase in personnel expenses. • The Armstrong County programs continue to produce a surplus, and HFI has a good relationship with Children, Youth, and Family Services in Armstrong County. • The Specialized Learning program had a slight decrease in revenue year to year and ended FY19 with a deficit of $266,000 versus a surplus of $153,000 in FY18 due to increasing staffing in anticipation of opening a second location which was not opened in FY19. • The Holy Family Service Corps moved off campus to the Felician Motherhouse in Moon Township and has 5 new members. • Nazareth Prep graduated 36 students in its second graduation class in FY19. The total student body in FY19 was 138. • The HFF grant to Nazareth Prep in FY19 was $823,000, compared to $1.5 million in FY18. • HFF’s contributed revenue in FY19 was $3.3 million versus $2.9 million in FY18. • Overall revenue for HFI increased from $19.1 million to $22.9 million in FY19, expenses increased from $19.5 million to $22.9 million, and the FTE’s increased from 321 to 360 from December 1, 2018 to December 1, 2019. • HFI was re-accredited for another 4 years by the Council on Accreditation in January, and Nazareth Prep achieved accreditation from the Pennsylvania Association for Independent Schools in May 2019.
IV. Strategic Plan Update and Future Initiatives Sister Linda presented an overview of the strategic plan updates for each strategic priority as follows:
Organizational Effectiveness • A three-year Journey of Hope contract extension was submitted for 2020-2022. • Nazareth Prep will work to address PAIS recommendations regarding strengthening curriculum and integrating the internship activities into the academic program. • HFI was not awarded the Hello Baby contract.
Financial Stability
8 • Rate increases were awarded to the Allegheny In-Home and SHORES Programs effective July 1, 2019. • HFI was awarded $1 million in RACP Funding, which must be matched, for capital improvements. • An event was held at HFI on September 25 to kick off the comprehensive campaign.
Mission and Brand • Nazareth Prep’s messaging has been refined across all platforms and media. • There are 83 freshmen enrolled, the largest class in the school’s history. • HFI had several instances of media coverage throughout the year.
Talent • Seven HFI leaders are participating in the Bridgespan program, Investing in Future Leaders. • Salaries were increased in programs that were awarded a rate increase.
Sister Linda then reviewed future initiatives for HFI and Nazareth Prep and potential plans for a new activities and classroom center. The campus is at maximum capacity, and Nazareth Prep needs additional space for classrooms and activities, and the JOH program has expanded and does not have adequate office space. HFI has engaged DLA+ Architecture to develop a Master Plan of the entire main campus, the Annex building, and the Seville School to determine the best use of the current space, and the goal is to have this plan completed by March 1, 2020.
V. Approve Off-Site Location for D&A Program During a recent audit of the SHORES program, it was determined that the program’s off-site location in Swissvale had never been licensed and could not operate under the license for the main campus. With board approval, an exemption to 709.91 and 705.21(1) can be granted to allow SHORES to provide services outside of the 8235 Ohio River Boulevard licensed facility.
A motion was made by Sally Wade and seconded by Mark Minnaugh to approve the SHORES Program’s exception request to provide services outside of HFI’s licensed facility at 8235 Ohio River Boulevard and operate an off-site location at 1789 South Braddock Avenue. All in favor. Motion carried.
VI. Reminder to Complete Annual Conflict of Interest Disclosure S. Brogan reminded all Directors and Trustees to complete their annual conflict of interest disclosure statements and submit them to Megan McCue.
VII. New Business / Adjournment With no further business to discuss, the meeting was adjourned at 5:07pm.
Respectfully submitted,
Rosemary L. Corsetti, Secretary Holy Family Institute Board of Directors
9 Risk, Quality, Compliance and Mission Advancement Committee Summary March 10, 2020
The Risk, Quality, Compliance, and Mission Advancement Board Committee met on December 5th, 2019 as well as on February 21st, 2020. The committee reviewed highlights of initiatives such as the pilgrimage made by Sister Linda and Mike Sexauer to the Provincial in Des Plaines, Illinois. The agency mission group continued to focus on strengthening and understanding the Core Values and Guiding Principles: Loving Relationships, Faithful Listening and Recognizing God in the Everyday. Agency mission meetings have been divided into administrator and supervisory groups to allow for greater discussion in smaller groups. The committee reviewed program initiatives and proposals including the recent approval for the expansion of the Journey of Hope Program and obtained information regarding the Master Facility Plan being developed by DLA architects.
The committee approved board suggested changes to the Performance, Quality and Improvement Plan and is requesting Board approval. Similarly, Board approval is needed for the committee Charter approved during the February meeting. The PA Health and Wellness assessment for the Seville School site was presented to the committee
In December, the Risk, Quality and Compliance department reviewed efforts to standardize data, set benchmarks for each program and streamline data collection. A presentation of program outcomes as well as areas for improvement in data collection was provided in February. For example, to clearly identify outcomes in the Outpatient Department a consultant has been hired to develop reports utilizing data from the electronic medical record. The RQC Department as well as the agency Quality Committee will continue to clarify data and streamline the process during the remainder of the fiscal year.
Internal chart audits and data was compared between quarters. Programs in which data noted a need for improvement are working directly with Kaitlyn Yakish to update forms, organize charts and create plans of correction. Client satisfaction survey results were reviewed by the committee. Responses demonstrate positive client satisfaction as all scores utilizing a five-point scale were 4.5 or higher. “The program helped me be a better mother and be more independent” provides an example of client comments.
Results of 7 external compliance audits were reviewed with the committee. Overall results were positive and plans of correction were created where necessary. The Outpatient program is appealing one finding regarding treatment plans, SHORES is working on clarifying the need for a license at the Swissvale site, and FFSB has submitted a plan of correction regarding documentation. The RQC department will initiate billing claim reviews of clinical programs to support compliance. The PA Health and Wellness Assessment for Specialized Learning was shared with the committee demonstrating compliance with the school nutrition program. Agency hiring practices have been amended to comply with new state regulations, requiring all clearances to be obtained prior to employment.
Agency response to incidents, child line reports, and grievances, noted compliance with all agency and county guidelines. The majority of items pertained to alleged abuse in the community and or home country. Child line and grievance investigations regarding staff led to retraining as well as 1 resignation and two terminations. Finally, at the December meeting, Sister Linda provided an update on pending legal matters including a Medicaid Fraud Investigation and a pending lawsuit. Information has been provided as requested and there has been no further action in these matters.
10 2019
Performance Quality & Improvement Plan
11 Contents INTRODUCTION ...... 3 Statement of Philosophy ...... 3 Strategic Plan ...... 3 Quality Improvement Principles ...... 4 PLAN DESIGN ...... 5 Structure ...... 5 PQI COMMITTEE STRUCTURE ...... 7 STAKEHOLDERS PARTICIPATION ...... 8 PERFORMANCE ASSESSMENT ...... 9 Measures and Outcomes: ...... 9 AGGREGATION AND DATA ANALYSIS ...... 9 IMPROVEMENT MODEL ...... 10 PROGRAM EVALUATION ...... 11 MANAGEMENT/OPERATIONAL PERFORMANCE ...... 13 DOCUMENTATION OF PERFORMANCE IMPROVEMENT ACTIVITIES ...... 14 EDUCATION ...... 14 STAFF RESPONSIBILITIES ...... 15 HOLY FAMILY INSTITUTE BOARD APPROVAL ...... 16
12 INTRODUCTION Holy Family Institute (HFI), as a matter of mission, faith, and policy, is committed to the principles and ideals of quality improvement and fostering a culture of accountability. The agency is dedicated in its efforts in providing the highest quality services to clients as described in Holy Family Institute’s Mission as well as Strategic Plan. By monitoring performance indicators and using data to continuously improve our services and drive decision-making, we can ensure that HFI continues to provide high quality services. Performance management is a system that allows the organization to answer the following questions:
• How good are we at achieving our goals and objectives? • Are we improving? • How do we know? Holy Family Institute’s Performance and Quality Improvement Plan is reviewed and approved by the Risk, Quality, Compliance, and Mission Committee of the Governing Board and approved by the Board of Directors on an annual basis. Statement of Philosophy HFI believes that quality service delivery to clients can only be achieved in an atmosphere that promotes respect for all constituents, includes all stakeholders, and demonstrates a commitment to performance-based measurement and accountability. Holy Family Institute promotes the statistical analysis of program and management to ensure best practice and a quality service environment. Performance Improvement efforts are designed to be comprehensive in nature and reflect agency values. Strategic Plan The Strategic Plan identifies the goals and objectives that HFI adopts to prepare for future challenges, the public social service needs in our community and the strategies to improve family life, relationships, disparities, and inequities; and insure long-term sustainability of our organization. Both short-term and long-term agency goals, with accompanying objectives and strategies for attainment, form the basis for quality improvement efforts. The planning process assists the organization in its efforts to identify improvement areas, establish improvement priorities, and implement necessary changes in policy and practice. The Strategic Plan is reviewed annually and updated as needed. Management with the support and direction of the Board, conducts long-term strategic planning that includes but is not limited to: • Strengths and weaknesses • External climate (i.e.: trends in community need, trends in funding, reputation, competition) • Long-term goal setting • Re-evaluate its existing services to leverage capabilities to meet changing • Market demands
13 Quality Improvement Principles HFI’s approaches to quality improvement are based on the following principles: • Customer/Consumer Focus – We focus on both our internal and external customers and consumers, and on meeting or exceeding needs and expectations. • Employee Empowerment – In order to be effective, people at all levels of the organization are involved in improving quality. • Leadership Involvement - Strong leadership, direction, and support of quality improvement activities by the governing body and Administrative Team are significant to our successful implementation of quality improvement. • Data-Informed Practices – We create feedback loops, using data to inform practice and measure results. Fact-based decisions are likely to be correct decisions. Some methods used to collect data include, but are not limited to: o Client satisfaction surveys o Pre and post standardized assessments o Employee satisfaction surveys o Incident Reports o External partner surveys o Client record reviews o Termination Reviews • Proactive Over Reactive – We seek to design good processes to achieve excellent outcomes rather than fix processes. • Continuous Improvement – Processes must be continuously reviewed and improved.
14 PLAN DESIGN Structure
Risk, Compliance, Quality and Mission Advancement (RCQM) Committee The purpose of the RCQM Board Committee is to review high-level organizational risk, compliance, and quality information and provide oversight to the quality, risk and compliance activities of the organization. A Board Member is the Chair of the RQCM Committee. The Chair of this committee reports information to the Board as a whole. This Committee reviews the following information on aggregate: ▪ External Licensing Reviews ▪ Client Record Reviews ▪ Incidents/Accidents (staff and client) ▪ Workers’ Compensation Claims ▪ Child-Line Reports ▪ Client Satisfaction ▪ Grievances and Allegations ▪ Client Outcomes ▪ COA Self Reports ▪ Annually reviews HFI Compliance and Risk Assessment and recommends Board Approval. ▪ Annually reviews PQI Plan, provides input and recommends approval to the HFI Board
RCQM Committee Members ▪ Chief Executive Officer ▪ Risk, Quality & Compliance Manager ▪ Human Resource Director ▪ Board Members
Frequency of Meetings RCQM Board Committee meetings are held quarterly. Meeting minutes will be kept and the appropriate information shared with appropriate individuals.
Staff Quality Committee The purpose of the Quality Committee is to provide oversight of the quality and risk activities of the organization. The Quality Committee is responsible for reviewing data to identify opportunities for improvement and areas of strength. Recommendations for modifications are discussed and resulting actions may include but are not limited to: implementation of a recommendation on a small scale (pilot), assignment of implementation of a recommendation to a program or department, deferment, modification or rejection. During the meeting, the Chair assigns a Committee member to initiate any resulting actions. At subsequent Quality Committee meetings, the assigned Committee member reports back on progress related to the agreed upon action.
15 The Quality Committee assesses whether changes in procedures achieved the anticipated outcome and whether established measures have been met. This committee reviews the following information: ▪ External Licensing Reviews ▪ Client Satisfaction ▪ Client Record Reviews ▪ Grievances and Allegations ▪ Incidents/Accidents (staff and client) ▪ Client Outcomes ▪ COA Self Reports Staff Quality Committee Members ▪ Risk, Quality & Compliance ▪ Director of Human Resources Manager ▪ SNAP Supervisor ▪ Director of Mental Health Services ▪ Nazareth Prep Representative ▪ Director of Family and Community ▪ Director of HFICCP Services ▪ Director of Universal Services ▪ Supervisor of Outpatient Services ▪ Universal Services Supervisor ▪ Safety Committee Chair ▪ Director of Administrative Services ▪ FFSB Supervisor ▪ Director of SUD Services
Frequency of Meetings and Information Sharing Quality Committee meetings are to be held quarterly. Meeting minutes will be kept, and the appropriate information shared with appropriate individuals.
Safety Committee The Safety Committee meets requirements for certification by the Pennsylvania Department of Labor. Primary responsibilities mandated by the state include accident investigation, building inspections and safety promotions. The Risk Quality and Compliance Manager serves as the Chair of the Safety Committee. The Safety Committee is comprised of representatives from each HFI site and is comprised of at least 50% direct staff. The purpose of the Safety Committee includes:
▪ Establish and monitor performance measures and develop, communicate and recommend action plans related to: o Facility motor vehicle safety and security o Emergency management o Consumer and staff injuries o Worker’s compensation o Consumer critical incidents o Other items as deemed appropriate o Proactively prevent potential occurrences of future injury or incidents
Frequency of Meetings Safety Committee meetings are to be held monthly. Meeting minutes will be kept and the appropriate information shared with all staff.
16 Significant Incident Review All significant incidents are reviewed by the Risk, Quality and Compliance Manager along with program directors, supervisors and involved staff. The purposes of this Review include:
▪ Review each individual incident for compliance with regulations, proper utilization of techniques, proper/thorough completion of paperwork ▪ Identify concerning issues with individual actions, as well as trends or patterns that need to be corrected ▪ Utilize information gleaned to inform future trainings ▪ Utilized to identify potential safety concerns ▪ Provide information regarding risk to the Board committee as well as safety committee.
Reviews are held within 48 hours after each incident. Reviews will occur within two hours after incidents that result in a physical altercation or injury. Minutes of reviews will be kept and the appropriate information shared with appropriate individuals.
PQI COMMITTEE STRUCTURE
Governing Board
Risk, Quality and Compliance Board Committee
Quality Improvement Safety Committee Committee
Program Staff
17 STAKEHOLDERS PARTICIPATION
Stakeholder involvement in Quality Improvement is solicited in many different ways at HFI; this chart depicts the ways various stakeholder groups may be involved in the PQI process.
Persons Served, their • Client Satisfaction Survey families, and advocates • Program Evaluation • Problem Resolution (Client Complaints/Grievances) • Focus Groups • Tasks Groups • Planning/Convening Groups Boards of Trustees • Board Committees • Strategic Planning • Task/Consultation Groups Employees, Volunteers and • Strategic Planning Consultants • PQI Teams • Agency Planning Teams • Task Forces • Planning/Convening Groups • Problem Resolution (Employee Complaints and Grievances) • Employee Satisfaction Survey • Volunteer Satisfaction Survey • Providing input regarding output/outcome measures and identifying measurement tools and instruments • Internal Monitoring Teams Donors, funders, • Strategic Planning contractors, governmental • Task Forces and other regulatory bodies • Consultation to assist in program funding design • Defining output/outcome measures and measurement tools and instruments • Program Monitoring and Evaluation • Identification of positive practices Others (including • Various interagency collaborations community partners) • Advocacy groups/Legislative forums referral sources, business, • Surveys vendors, sub-contractors, courts, probation, parole, elected officials and media
18 PERFORMANCE ASSESSMENT
Measures and Outcomes: Management/Operational Performance The organization collects, analyzes and acts on the following indicators:
▪ Staff turnover ▪ Staff satisfaction ▪ Financial stability ▪ Staff injuries ▪ Facility safety and security
Client and Program Results/Service Delivery Quality The organization collects, analyzes and acts on the following indicators:
▪ Client satisfaction ▪ External stakeholder satisfaction ▪ Consumer critical incidents/accidents ▪ Significant incident reports ▪ Client Discharge Outcome Data Review ▪ Chart audits ▪ Grievances ▪ Allegations AGGREGATION AND DATA ANALYSIS Decision-making will be based upon data collected. Data will be aggregated and analyzed by the organization in such a way that current performance levels, patterns or trends can be identified. The organization will utilize appropriate statistical tools and techniques to analyze and display data.
When appropriate, data will be trended and compared internally over time. In addition, external sources of information will be used to benchmark the organizations performance when it is available and appropriate to identify opportunities for improvement.
Analysis will be conducted by the Risk, Quality & Compliance department when data indicates that levels of performance, patterns, or trends vary substantially from those expected and for those topics chosen by the organization as priorities for improvement.
Communicating Results Information gathered through stakeholder involvement is disseminated through: ▪ Data sharing at Department and Program Staff meetings ▪ Data sharing at cross-functional Team meetings (Administrative team, Quality Team, Safety Committee, Restraint Review Committee) ▪ Data sharing at Board meetings and Board subcommittee meetings ▪ Mailings to external stakeholders (i.e., annual report)
19 IMPROVEMENT MODEL HFI and its affiliates utilize a Logic Model as its method of focusing on organizational improvement. The approach is used to analyze and describe major, recurring activities that occur in the organization or program to produce desired results. Holy Family will utilize both a forward approach to utilizing the model as well as a reverse approach. The forward approach will highlight why HFI has certain processes. It describes the way program activities should flow. The reverse approach starts with the desired outcomes and identifies strategies to accomplish them. This approach is primarily used to assist in developing strategies to meet program outcomes. The Quality Improvement Committee is committed to supporting efforts to achieve program outcomes. Logic models help identify the data needed to be collected to monitor and improve programming while remaining focused on specific outcomes. It provides a “road map” for program and agency initiatives. The Quality Committee supports programs to complete a comprehensive review through root-cause analysis to include quantitative and qualitative data to identify barriers and corrective actions to achieve desired outcomes.
20 PROGRAM EVALUATION
HFI’s Performance Quality Improvement plan will be evaluated on an annual basis for effectiveness. A summary of activities, improvements made, processes modified, projects in progress and recommendations for changes will be compiled and forwarded to the Administrative Team and submitted to the RQCM Board Committee for recommendation during the first quarter of the fiscal year. The Quality Improvement plan evaluation process may address the following issues:
▪ Have there been adequate resources devoted to Performance and Quality Improvement? ▪ Is there an understanding of and buy-in to performance and quality improvement throughout the agency? ▪ Are the measurements that are in place sufficient to provide useful information to leaders and managers to determine quality of care and services? ▪ Is the information from the analysis efforts being received at appropriate levels within the organization? ▪ Does the clinical and management information system(s) support the collection, aggregation and analysis of data? ▪ Are there measurements that need to be discontinued or developed?
HFI measures outputs and/or outcomes that help the organization evaluate the quality of its services and programs. The following outputs/outcomes related to quality and performance are measured by our various programs.
• Risk management data o Number of critical incidents o Critical incident by category and program o Number of client grievances
• Client record review data o Completion of essential documentation o Quality of essential documentation o Timeliness of essential documentation o Need for continued services
21 • Program outcomes data o Number of clients served o Follow-up for discharged clients o Length of stay in program o Length of time to housing placement o Outcomes for active clients o Eligible clients identified through outreach o Outcomes for discharged clients
• Program/department census data o Program/department demographics o Occupancy rate
• Client survey responses o Clients’ perceptions of quality, safety and effectiveness o Clients’ suggestions
• Stakeholder survey responses o Stakeholders’ perceptions of quality, effectiveness, visibility, and community impact o Stakeholders’ suggestions
• Results of facility and physical plant inspections o Ongoing facility and physical plant needs o Emerging facility and physical plant needs o Results of emergency drills
• Findings from re-licensure audits o Plans of correction resulting from audits
• Results of annual financial audits
22 MANAGEMENT/OPERATIONAL PERFORMANCE The following outputs and/or outcomes measure management and operational performance: Staff Retention • Turnover rates for all employees • Percent by which HFI will lower its turnover rate Staff injuries • Number of injuries that did not lead to workers compensation claims • Number of injuries that did lead to workers compensation claims Employee Survey Responses • Employees’ satisfaction with benefits and compensation, workplace, leadership and co-workers • Employees’ suggestions • Employee training needs Cultural Diversity • Comparison of demographics of clients, personnel and community Performance of Sub-Contractors • Adherence to subcontractor clause in contract • Billings have only allowable costs • Produce measurable outcomes • Policies and Procedures support program outcomes Plant Operations • Response to maintenance requests • Facility Inspections Information Technology • HFI network sufficient to meet workload demands • Managed Service provider effectiveness • Staff trained and using of Evolv • Maximize use of Evolv for reporting outcomes • Analyze timeliness of data completion
23 Financial Viability • Gross revenues by department and for the entire Agency • Actual expenses by department and for the entire Agency • Comparison of budgeted revenues and actual revenues, by department and for the entire Agency • Increase program understanding of financial position by distributing 95% of P&L statements by 25th of the month • Total development revenue by source • Comparison of budgeted development revenue and actual development revenue • Ratio of expense to revenue for fundraising activities HFI’s goal is to demonstrate best practices in all areas of service delivery and organizational performance for the benefit of our clients and other stakeholders. We comply, to the best of our ability, with all applicable regulatory and licensing entities to whom we are responsible. In addition, we must uphold the standards and expectations of all entities that fund the Agency through public and private contributions. Our internal monitoring mechanisms and our overall PQI Plan ensure that we remain in compliance with legal, regulatory and other mandates. Outcomes and outputs related to these mandates are tracked and analyzed throughout the year. The PQI Plan has an Administration Team that monitors contract compliance, licenses, and inspections. All reports of site visits and inspections as well as the Agency’s response are kept in binders for review by the auditors and the PQI Administration Team. Results are presented during PQI Team meetings, and performance improvement plans are initiated as necessary to promote compliance and positive outcomes/outputs.
DOCUMENTATION OF PERFORMANCE IMPROVEMENT ACTIVITIES Performance Improvement activities will be documented utilizing a variety of tools and forms, including logic models, individual strategic work plans, one pager improvement plans, narrative reports and trend sheets. Teams, committees, subcommittees and task forces will document their activities in the minute format approved by the organization.
EDUCATION All staff participate in PQI training during orientation. Educational needs for performance improvement will be identified by the various teams, committees and subcommittees and will be incorporated into the organization wide training calendar and in other settings as designated by the leaders of the organization.
24 STAFF RESPONSIBILITIES
Board of Directors The Board of Directors oversees the quality of care and services provided by the organization through the development of a comprehensive performance improvement program, and annual review of the PQI Plan. The Board of Directors’ discharges its responsibility for implementation and evaluation of this program through the Risk, Quality, & Compliance and Mission Advancement Committee of the Board and to the Chief Executive Officer and management team.
Administrative Team
The Administrative team is responsible for reviewing and evaluation of the Performance and Quality Improvement program as outlined in the above plan. In collaboration with the Board of Directors, the Administrative team aligns the performance improvement activities with the strategic plan and prioritizes improvement efforts.
Directors/Managers/Supervisors Directors, managers and supervisors are responsible for implementation of the Performance and Quality Improvement program for their respective departments. In addition, these managers and directors may serve as chairs, team leaders or as members of committees, subcommittees, teams, and/or task forces. When serving in these roles, consideration of the overall impact on the organization should always be of prime concern.
Direct Staff Staff should be familiar with performance measures and Performance and Quality Improvement initiatives underway for the organization and their specific departments. Staff will be asked to participate in these activities as well as on other committees, subcommittees and teams and task forces as appointed. The purpose of this participation is to bring the “front line” perspective to the performance improvement opportunities and initiatives of the organization as well as resolution of problems.
25 HOLY FAMILY INSTITUTE BOARD APPROVAL
2019 - 2020 Performance Quality & Improvement Plan
The undersigned have read and approved this Performance Quality & Improvement Plan for Fiscal year 2019 - 2020.
______Chief Executive Officer HFI Board Chairperson
______Date Date
26 HR Board Committee Report- March 2020
Human Resources Committee Charter A Human Resources Committee Charter was presented to the committee. The Governance Committee of the MMI Board felt that it would important to have a charter for each of the Board Committee so that current and new board members would understand the purpose and scope of the committee’s responsibility. A motion was made by to accept the Human Resources Committee Charter. The committee asked that staff acknowledge the 401k Oversight Committee responsibilities in the charter. This wording will be added and sent to all HR committee members.
401K Oversight Committee The 401k Oversight Committee has reviewed options over the past year to make fees more transparent and to offer more investment fund options to participants. The 401K Oversight Committee voted on February 19, 2020 to recommend to the Human Resources Committee that Holy Family Institute adopt an open architecture platform as of July 1, 2020.
At the February 25, 2020 HR Committee meeting, a motion was carried to adopt the open architecture platform.
27
The Investment Committee met January 30, 2020.
The meeting included the Vanguard December 31, 2019 Year-End HFF Portfolio Performance Report presented by Eric Salzer, Senior Investment Consultant from Vanguard. The portfolio returned 20.09%, net of fees, in 2019, and the portfolio value as of 12/31/19 was $7,573,132.
The committee discussed projected returns and how much to budget for investment returns in FY21. The committee agreed to expect lower returns and more volatility over the long-term which could impact outflows. For accounting and budgeting purposes for FY 2021, the Committee recommends to the HFF Board of Trustees to approve a 4% budgeted investment return and a maximum 4% withdraw from the portfolio to grant to Nazareth Prep.
HFF budgeted $650,000 for FY 2020 to grant to Nazareth Prep. To date, $400,000 has been transferred. Management will know in March or April if the remaining $250,000 is needed. If this withdrawal needs to occur prior to next meeting, the Investment Committee will be notified.
The Committee briefly discussed asset allocation and funds in the Portfolio and made no changes to recommend at this time.
28 401k Oversight Working Group Summary for Holy Family Institute Board of Directors Meeting
Holy Family Institute Retirement Plan Contract No. 341886
Background Committee met on 9/19/2019 for yearend review of plan as of 6/30/2019. Also in attendance were representatives from Morgan Stanley and HFI’s Account Executive from Transamerica Retirement Solutions.
There was not a quorum in attendance; therefore, the group could not vote on any items of business. In addition, the minutes of the meeting held on 3/4/2019 could not be approved. They will be approved during the next scheduled meeting. Oversight Working Group’s Upon request, Sally Wade, Chair, clarified the reporting relationship of the Relationship to HR Committee of Working Group to the HR Committee of the Board based on the Group’s HFI Board Charter by informing them of the specific reporting requirements from the Charter, i.e., (1) the most recent financial performance of investments and (2) providing an Executive Summary of the Group’s actions before the end of the fiscal year.
Missed Employer Match Issues During the meeting held on 9/19/2019, the Plan Administrator (Sue Sanford) informed the group there had been nine (9) employees who should have received the employer match.
This issue occurred as a result of a change in payroll vendors (from Ceridian to Paycom) effective 01/01/2019. Because of the match formula of the 401k, Paycom was unable to program the match to automatically occur. The default employer match was set up to reflect that an employee was not eligible for the match. It was then up to the Plan administrator to determine when an employee was eligible for the match and change the match indicator from no match (NOM) to eligible for the match (401). Each month the Plan Administrator needs to determine which employees will become eligible for the match and then manually access their records to change the match indicator.
During the open enrollment process, these 9 employees made changes to their 401k elections. They had already been eligible for the match prior to 7/1/2019. During the review of the first payroll for the new benefit plan year (7/9/2019), the Plan Administrator discovered that employees that should be receiving the match were not. In looking at their match indicator, it was determined that employees who had changed from pre-tax to Roth or percentage to flat dollar amount or vice versa, their previous match indicator had not “moved” with the change since there were 4 different plans in the system. During this review, it was thought that all employees affected had been discovered & subsequently corrected.
The Plan Administrator reviewed al the affected employees’ payroll records and determined that both the 7/9/19 & 7/23/19 pays were missing the appropriate match amounts. The Plan Administrator immediately made the appropriate
29 corrections to the match indicator; therefore, the match would begin appearing in the 8/9/19 paycheck. The Plan Administrator made the appropriate changes to the affected employees’ match amounts in order for the correct amount deposited in their 401k accounts for the 7/23/19 pay.
The total financial impact for correcting this issue was $468.03. Discussion of Match Formula As a result of various missed match issues, the group discussed the possibility of changing the match rule of the plan. The Plan Administrator explained to the group how an employee would receive the match based on the current match formula (1 year of service & 1000 hours worked). Because of the complexities of the formula, HFI’s payroll system cannot automatically change the match indicator. The group discussed making a change to the match formula to an employee having 1 year of service – eliminating the 1000 hours. As a result of the discussion, the group asked the for the following information (1) cost implications to HFI of making the change; (2) checking with like competitors for their match rules; and (3) Transamerica will provide report on prevalence of match rules.
The Plan Administrator reported that 85% of employees are participating in the 401k plan. Kim Radler will contact the Bayer Center for Nonprofit Management to determine if they can provide information on various match formulas used by its members. Fund Review Morgan Stanley & Transamerica presented the plan review as of 6/30/2019. The total plan assets as of 6/30/2019 were $7,431,632 with a total of 455 participants (308 active & 147 terminated). Sue Sanford, the Plan Administrator reported that account balances with less than $5,000 for terminated participants (87) needed to be zeroed out. Heather Taylor from Transamerica indicated that she would provide Sue with a report of account balances of the terminated participants. Sue will review the report & approve the appropriate distributions. The non-vested portions will then be deposited into the forfeiture account.
Morgan Stanley reported that so far in 2019, it has been a powerful bull market. Dow was up 18.5% with balanced, stock & pure bond funds doing well. The market is ignoring bond ratios & inflation is low. HFI funds are performing well with a YTD 10% increase. HFI’s plan YTD has increased $900,000 due to performance only. Currently, this is a great environment for 401k members.
Transamerica & Morgan Stanley presented the fund performance as of 6/30/2019. A question was raised regarding the number of participants in the American Funds Balanced Ret Acct. Sue Sanford reported that according to the plan document, the American Funds Balances Ret Acct was the QDIA. She indicated that she thought the target date funds were the QDIA. After discussion, the potential for making a change to the QDIA was tabled until the next meeting.
A question was raised about whether the group should recommend a change of the target date funds; the concern being whether the current 2020 & 2025 target date funds (Blackrock) go to retirement or through retirement. Morgan Stanley reported that the current 2020 Blackrock Target Date Fund had 40% of stock, which probably means these funds are through retirement.
30 A potential change for the target date funds will be discussed at the next meeting. Participant Education Morgan Stanley informed the group that they have been developing education seminars via webinars for its clients, i.e., social security, estate planning readiness, elder care. Transamerica indicated they also have webinars through their Knowledge is Power program. In addition, Transamerica indicated they have a program called Managed Advice; however, there is an additional 45 bp cost to participants. The group suggested that we don’t use Transamerica’s Managed Advice program since Morgan Stanley already offers these services to participants. Fee Disclosure There have been an on-going discussions and concerns from the 401k Oversight Working Group members regarding the fees that are paid to Transamerica for the management & recordkeeping of the plan. The group has been concerned that the fees charged by Transamerica are very high and are not transparent to plan participants.
Transamerica & Morgan Stanley presented to the group the concept of Open Architecture. With this concept, the recordkeeping costs would be 45 basis points, the investment expense would average 12 basis points, Morgan Stanley’s fee would continue at 25 basis points for a total of 82 basis points. The difference would be that most charges would be visible to participants. Morgan Stanley & Transamerica stated this would be the best move for the sake of transparency – that this is the only way to see fee transparency. It was agreed that this concept would allow transparency & more funds to be available to participants, but Morgan Stanley would recommend the investment options to be offered in the plan. Morgan Stanley & Transamerica will fine tune the costs & present it to the group at the next meeting.
31 Nazareth Prep Update
Staff accomplishments Shannon O’Black was selected as a Keystone STAR and has been invited to attend a week- long summit this summer. During this week-long summit, attendees will be given the opportunity to experience hands-on professional development, attend Keynote sessions provided by dynamic and innovative speakers on instructional technology, collaborate in cohorts of similar classroom interests, and leave with an extensive network of new colleagues from around the commonwealth. The 2020 Summit will be held July 27-31 on the campus of Shippensburg University.
Student accomplishments 2 senior students will begin a program with Duquesne Light Company, in partnership with the Community College of Allegheny County (CCAC),these students will enroll in the Electrical Distribution Technology (EDT) program. The one-year program, which began in August 2019, is designed to prepare students for entry-level skilled craft positions associated with electric utilities. Participants in the program will be exposed to the theoretical and practical aspects of working in an electric utility. This includes general education courses like math, introduction to information technology and AC theory, as well as the practical elements of working in overhead, underground and substation maintenance. Upon completion of the program, students will receive a Certificate in Electrical Distribution Technology from CCAC.
Alumni update
We have continued to connect with our alumni to check on progress and see how we can continue to support each of them in their selected pathway.
Class of 2018 Highlights
Jason Koslo- Through support of the Office of Vocational Rehab Jason is attending the Hiram G Andrews Center in Johnstown for Dental Technology.
Paul Covington- Currently working at MSA and is continuing to take class at CCAC for his associates in Mechatronics. He will attend Point Park after CCAC to obtain his degree in Engineering.
32
Class of 2019 Highlights
DeMarkus Dixon-Currently attending Duquesne University where he is studying Digital Media Arts. DeMarkus served on a panel this for the NEXT GEN event brought to the area by United Steel Workers and talked about his experience through the internship program at Nazareth Prep.
Jaden Bonner- Currently working in the Duquesne Light Company, in partnership with the Community College of Allegheny County (CCAC)2019 Electrical Distribution Technology (EDT) program. He is currently talking to other high schoolers to encourage enrollment in the program.
Student Life
Student council did a great job organizing our largest Homecoming dance this fall. More than 100 students were in attendance that included a few of our alumni. The Junior/Senior Prom is scheduled this May at the Sheraton Station Square. Student council has been instrumental in organizing school-wide events, assemblies and fundraisers throughout the year.
Community Engagement
We have added a service requirement for students each year as a requirement. Students have been volunteering at local food banks, churches, toy drives, as well as events in the community
Teachers have utilized a local organization Tickets for Kids to create classroom experiential learning opportunities throughout the community. Some experiential learning opportunities have included the National Aviary( Biology) The Clayton House Tours( Cultural Literacy) University of Pittsburgh Nationality Rooms( Cultural Literacy)and the O’Reilly Theater( advisory)
11th graders all participated in the NACAC College Fair in February. This has been an annual event for students. All 11th grade students take a College and Career Prep class which prepares each student in how to navigate the fair and the seek out the best information depending on their individual post-secondary pathway. We have been utilizing curriculum resources called YouthWorks from Goodwill.
12th graders have been actively studying government policy. Our 12th grade cultural literacy teacher has been supporting our students in helping them get registered to vote.
33 March 19, 2020
Holy Family Foundation Board of Directors
BUDGET ANALYSIS – December 31, 2019
Enclosed for your review is a budget analysis for the period July 1, 2019 through December 31, 2019.
HFF surplus for the period was $447,161 vs. budget surplus of $158,765 or $288,396 favorable variance - the major reason for the favorable variance was due to higher return on investments. It should be noted that the December 31, 2019 year-to-date results were an improvement of approximately $425,000 form the prior year.
Results for All Other Corporations
The HFI consolidated operating deficit for the period was $338,190 vs. budget deficit of $457,423 or $119,233 favorable variance.
• HFI Central Services surplus for the period was $111,175 vs. budget deficit of $67,963 or $179,138 favorable variance – the major reasons for the favorable variance are lower occupancy, professional fees and salary and benefit costs. Additionally, a $100,000 grant for the Annex kitchen project (satisfaction of restrictions) was recognized during the month of August. • HFI Social Services and Learning operating deficit for the period was $229,664 vs. budget deficit of $348,488 or $118,824 favorable variance – the major reasons for the favorable variance are lower salary and benefit expense and lower indirect (administration) expenses • HFICPP operating deficit for the period was $55,021 vs. budget deficit of $49,157 or $5,864 unfavorable variance - the major reason for the unfavorable variance is lower census. • Nazareth Prep operating deficit for the period was $164,681 vs. a budget deficit of $149,608 or $15,073 unfavorable variance – the major reasons for the unfavorable variance is higher food cost (Supplies) and education consultants. The operating deficit without the $396,517 grant from the Foundation would have been $561,198.
The Vanguard investment balance as of December 31, 2019 is $7,573,132 vs. 7,477,163 as of June 30, 2019. It should be noted that $400,000 was transferred from the Vanguard portfolio account, (July $400,000), to fund Nazareth Prep.
If you should have any questions, or need additional information, please do not hesitate to contact me.
Respectfully submitted,
Mark J. Palastro CFO
34 35 36 37 38 39 2019-2020 Holy Family Foundation Operations Comparison from Budget December 31, 2019 December 31, 2019 Y-T-D Budget Y-T-D Actual Budget vs. Actual
Revenues Donations 1,592,839 1,635,621 Estate gift and stock donation Tax Credits 400,000 269,900 Additional funding going to YES Fund Special Events 235,000 207,469 Lower revenue for Courage House event United Way Contributions 12,200 11,371 Income from Investments including unrealized gain (loss) 110,548 511,368 Higher return on investments Miscellaneous Income 6,000 3,473 Total Revenues 2,356,587 2,639,202
Expenses Salaries and Overtime 27,726 25,553 Taxes and Benefits 7,119 6,556 Professional Fees 48,015 35,121 Lower consultant fees Lower printing expense and moving Printing and Publications 10,128 100 appropriate expense to departments Expenses Related to Fund Raising 77,000 90,447 Higher expenses for the golf event Grants to Related Party 2,005,339 2,014,467 Indirect Expense 6,332 5,899 Supplies, Conferences, Communications and other Miscellaneous Expenses 16,163 13,898 Total Expense 2,197,822 2,192,041 Excess Revenue Over (Under) Expenditures 158,765 447,161
40
Vice President Elisa Cavalier, JD [email protected] (724) 940-0990 x 1688 North Hills
Elisa Cavalier is a Vice President with Hefren-Tillotson, Inc. She joined the firm in 2007 and provides comprehensive financial planning and investment advisory services for individuals, municipal pension plans, trusts and qualified retirement plans. Elisa provides her clients the highest degree of personalized service and expertise in retirement planning, portfolio management, estate planning, and small business strategies. She holds her Series 7 and 66 securities licenses as well as her license for Life, Accident and Health Insurance.
Elisa is also an attorney and assists clients with estate planning and administration issues. Prior to joining Hefren-Tillotson, she worked for the National Trust for Historic Preservation in Washington, DC and served as general counsel for Pittsburgh History & Landmarks Foundation and Station Square where she handled all legal matters for the Foundation and managed its multi-million dollar revolving loan fund. Elisa started her legal career as a corporate attorney for Buchanan Ingersoll.
41
Elisa graduated Magna Cum Laude from Tufts University and received her Juris Doctor degree from Northeastern University School of Law. Elisa is a member of the Pennsylvania and Allegheny County Bar Associations and has been admitted to practice before the Supreme Court of Pennsylvania and the U.S. District Court for the Western District of Pennsylvania.
Elisa is committed to community service, and is on the boards of both Landmarks Community Capital Corporation and Holy Family Foundation. She has a keen interest in architecture, historic preservation and community revitalization. She also enjoys tutoring at-risk boys and girls, and strives to provide them with the emotional and educational skills needed to become productive citizens.
Elisa is a multi-year FIVE Star Wealth Manager Award winner presented by Five Star Professional.
42 STEPHEN VAN METER 220 Pineview Drive • Wexford PA 15090 • Work (412) 288-1046, Cell (703) 463-0542
EXPERIENCE Admitted to practice law in the Commonwealth of Pennsylvania and the Western District of Pennsylvania.
Federated Investors Inc. Vice President and Chief Compliance Officer July 2015- Present Vice President and Compliance Operating Officer October 2011-July 2015 Pittsburgh, PA
- Responsible for creating and maintaining the policies and procedures necessary to ensure compliance with federal and state securities laws, and other business requirements, for both the Federated advisers and the Federated Funds and to report on the status of that program to applicable governing boards. - Serve as the primary liaison with securities regulators. - Conduct periodic trainings and ongoing consultations with Federated management and business units to ensure understanding and adherence to securities law requirements.
United States Securities and Exchange Commission September 2003-October 2011 Washington D.C.
Division of Investment Management, Office of Chief Counsel, Senior Counsel (October 2007 – October 2011) - Provide formal and informal interpretive guidance concerning the Investment Company Act of 1940 and the Investment Advisers Act of 1940 to registered and unregistered investment advisers, and registered and unregistered funds. - Advise the SEC’s Office of Compliance Inspections and Examinations (OCIE) on legal issues that arise in compliance examinations. This includes drafting deficiency letters and responding to counsel. - Served on a committee to study registered fund use of derivatives and issue guidance on ’40 Act compliance in the use of derivatives. - Provided guidance or no-action assurances on investment adviser and investment company topics including: rule 2a-7 eligible securities; fund of fund structures; securities lending and cash collateral reinvestment; senior securities and Rel. 10666 asset segregation obligations; rule 17a-7 cross trades; valuation; investment company and investment adviser custody arrangements; adviser advertising; affiliated transactions; advisor contract assignments; fund participation in U.S. Treasury’s TALF and PPIP programs; cash solicitation payments; closed-end fund borrowing arrangements, tender offers, and dividend reinvestment plans; various disclosure issues; Investment Company Act status issues; and the collective investment trust registration exemption. - Attended SEC sponsored classes on investment company operations, derivatives trading, and risk management.
43 Division of Enforcement, Senior Counsel (September 2003-October 2007) - Conducted regulatory investigations primarily involving investment companies, investment advisers, and broker-dealers. - Brought settled administrative proceeding against registered broker-dealer for failing reasonably to supervise brokers’ deceptive market-timing activities. Settlement included disgorgement and penalties of $17 million. - Brought first ever settled administrative proceeding enforcing Section 19(a) of the Investment Company Act. Awarded Division Director Award in connection with this case. - Also conducted regulatory investigations relating to investment company fees, pricing and disclosure obligations, financial fraud by public operating companies and the Foreign Corrupt Practices Act.
Law Clerk to Hon. Gary L. Lancaster, September 2002-August 2003 U.S. District Court for the Western District Pittsburgh PA of Pennsylvania - Researched and drafted opinions and memoranda in response to dispositive and non-dispositive motions in both civil and criminal cases. - Assisted in jury trials, civil hearings, sentencing hearings, and pre-trial conciliation sessions.
Reed Smith LLP September 2000- August 2002 Attorney at Law Summer 1999 Pittsburgh PA - Financial services litigation associate. Provided assistance in cases relating to professional negligence (mutual fund accounting), trustee breach of fiduciary duty, and second home mortgages. - Second chaired federal criminal trial. - Drafted pleadings, briefs, discovery requests and answers, communicated with clients, and assisted in the negotiation of settlement. - Participated in Summer Associate Program in 1999.
EDUCATION
University of Pittsburgh School of Law Juris Doctor, Magna Cum Laude, Order of the Coif, Law Review Research Editor, May 2000 Honors: The Dean’s Scholarship, International Academy of Trial Lawyers Student Advocacy Award, Herman L. Forman Award (highest grade in Labor Law), Taintor Memorial Award (highest grade in Conflicts of Law).
Loyola University, Baltimore Maryland B.A. in History, Magna Cum Laude, May 1997 Business Minor that included classes in economics, accounting, and finance. Honor and Activities: Alpha Sigma Nu (National Jesuit Honor Society), Phi Alpha Theta (The International Honor Society in History), Dean’s List All Semesters, Presidential Scholarship, Loyola Rowing Team.
Currently serve as an Adjunct Professor of Investment Management Law at the Duquesne University School of Law.
44 Financial Statements as of and for the Years Ended June 30, 2019 and 2018 and Independent Auditors' Report
45 HOLY FAMILY FOUNDATION
TABLE OF CONTENTS
Page
Independent Auditors' Report 1
Financial Statements as of June 30, 2019 and 2018 and for the Years Then Ended:
Statements of Financial Position 3
Statements of Activities and Changes in Net Assets 4
Statements of Functional Expenses 6
Statements of Cash Flows 8
Notes to Financial Statements 9
46 INDEPENDENT AUDITORS' REPORT
To the Board of Trustees Holy Family Foundation
We have audited the accompanying financial statements of Holy Family Foundation (the "Foundation" - a nonprofit organization), which comprise the statements of financial position as of June 30, 2019 and 2018, and the related statements of activities and changes in net assets, functional expenses and cash flows for the years then ended, and the related notes to the financial statements.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
47 Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Holy Family Foundation as of June 30, 2019 and 2018, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Pittsburgh, Pennsylvania November 19, 2019
2 48 HOLY FAMILY FOUNDATION
STATEMENTS OF FINANCIAL POSITION JUNE 30, 2019 AND 2018
2019 2018 ASSETS
Cash $ 960,652 $ 173,334 Grant receivables 125,000 75,000 Prepaid expenses 6,349 4,633 Investments (including restricted net assets) 7,477,158 7,870,696 Other assets 76,953 74,517
TOTAL ASSETS $ 8,646,112 $ 8,198,180
LIABILITIES AND NET ASSETS
LIABILITIES: Accounts payable $ 1,393 $ 340 Accrued payroll and related expenses 5,284 10,866 Accrued expenses 58,856 40,075 Due to affiliates 322,629 169,782
TOTAL LIABILITIES 388,162 221,063
NET ASSETS: Without donor restriction: Undesignated 280,833 - Board-designated 4,576,492 4,576,492 With donor restriction 3,400,625 3,400,625
TOTAL NET ASSETS 8,257,950 7,977,117
TOTAL LIABILITIES AND NET ASSETS $ 8,646,112 $ 8,198,180
See accompanying notes to the financial statements.
3 49 HOLY FAMILY FOUNDATION
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2019
Without Donor Restrictions
Board- With Donor Undesignated Designated Restrictions Total
REVENUES, GAINS, AND OTHER SUPPORT: Contributions $ 897,533 $ 2,067,130 $ 2,964,663 In-kind contributions 615 615 Development events 214,644 214,644 Interest and dividend income (net of investment expenses of $21,460) 342,325 342,325 Gain on investments $ 68,012 68,012 Miscellaneous income 15,788 15,788 Release from board designation 68,012 (68,012) -
Total revenues, gains, and other support 1,538,917 - 2,067,130 3,606,047
EXPENSES: Grants and pass-through contributions to affiliates 923,349 2,067,130 2,990,479 Administrative services obtained from Holy Family Institute 18,096 18,096 Development 316,639 316,639
Total expenses 1,258,084 - 2,067,130 3,325,214
INCREASE IN NET ASSETS 280,833 - - 280,833
NET ASSETS, BEGINNING OF YEAR - 4,576,492 3,400,625 7,977,117
NET ASSETS, END OF YEAR $ 280,833 $ 4,576,492 $ 3,400,625 $ 8,257,950
See accompanying notes to the financial statements.
4 50 HOLY FAMILY FOUNDATION
STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2018
Without Donor Restrictions
Board- With Donor Undesignated Designated Restrictions Total
REVENUES, GAINS, AND OTHER SUPPORT: Contributions $ 231,855 $ 2,133,267 $ 2,365,122 In-kind contributions 1,277 1,277 Development events 249,205 249,205 Interest and dividend income (net of investment expenses of $20,894) 197,981 197,981 Gain on investments $ 375,638 375,638 Miscellaneous income 26,060 26,060 Release from board designation 1,337,409 (1,337,409) - Net assets released from restrictions 245,838 (245,838) -
Total revenues, gains, and other support 2,289,625 (961,771) 1,887,429 3,215,283
EXPENSES: Grants and pass-through contributions to affiliates 1,900,940 1,887,429 3,788,369 Administrative services obtained from Holy Family Institute 33,149 33,149 Development 355,536 355,536
Total expenses 2,289,625 - 1,887,429 4,177,054
DECREASE IN NET ASSETS - (961,771) - (961,771)
NET ASSETS, BEGINNING OF YEAR - 5,538,263 3,400,625 8,938,888
NET ASSETS, END OF YEAR $ - $ 4,576,492 $ 3,400,625 $ 7,977,117
See accompanying notes to the financial statements.
5 51 HOLY FAMILY FOUNDATION
STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2019
Development Administration Total
PERSONNEL EXPENSES: Salaries and wages $ 133,265 $ 8,230 $ 141,495 Taxes and benefits 36,175 2,110 38,285
Total 169,440 10,340 179,780
OPERATING EXPENSES: Professional fees 44,487 2,461 46,948 Occupancy 3,299 3,139 6,438 Development event expense 57,221 - 57,221 Travel 3,170 105 3,275 Supplies 465 145 610 Printing and publications 1,960 41 2,001 Equipment 5,636 569 6,205 Conferences 5,569 82 5,651 Voice and data communications 726 676 1,402 Employee related/recruitment - 28 28 Dues 6,835 165 7,000 Miscellaneous 11,411 321 11,732 Postage 2,049 24 2,073 Bank fees 4,371 - 4,371
Total 147,199 7,756 154,955
TOTAL $ 316,639 $ 18,096 $ 334,735
See accompanying notes to the financial statements.
6 52 HOLY FAMILY FOUNDATION
STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2018
Development Administration Total
PERSONNEL EXPENSES: Salaries and wages $ 172,146 $ 9,368 $ 181,514 Taxes and benefits 42,028 2,430 44,458
Total 214,174 11,798 225,972
OPERATING EXPENSES: Professional fees 39,565 3,043 42,608 Occupancy 4,435 3,330 7,765 Development event expense 57,152 - 57,152 Travel 1,996 4,365 6,361 Supplies 2,018 5,264 7,282 Printing and publications 16,345 844 17,189 Equipment 5,312 1,656 6,968 Conferences 2,647 590 3,237 Voice and data communications 476 1,365 1,841 Employee related/recruitment 374 189 563 Dues 6,231 71 6,302 Miscellaneous 393 309 702 Postage 3,170 325 3,495 Bank fees 1,248 - 1,248
Total 141,362 21,351 162,713
TOTAL $ 355,536 $ 33,149 $ 388,685
See accompanying notes to the financial statements.
7 53 HOLY FAMILY FOUNDATION
STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED JUNE 30, 2019 AND 2018
2019 2018
CASH FLOWS FROM OPERATING ACTIVITIES: Change in net assets $ 280,833 $ (961,771) Adjustments to reconcile change in net assets to net cash provided by (used in) operating activities: Gain on investments, net (68,012) (375,638) (Increase) decrease in: Receivables (50,000) 82,600 Prepaid expenses (1,716) 1,661 Other assets (2,436) (2,416) Increase (decrease) in: Accounts payable 1,053 (557) Accrued payroll and related expenses (5,582) 1,689 Accrued expenses 18,781 (825) Due to affiliates 152,847 (14,039)
Net cash provided by (used in) operating activities 325,768 (1,269,296)
CASH FLOWS FROM INVESTING ACTIVITIES: Sales of investments, net 461,550 802,514
NET INCREASE (DECREASE) IN CASH 787,318 (466,782)
CASH, BEGINNING OF YEAR 173,334 640,116
CASH, END OF YEAR $ 960,652 $ 173,334
See accompanying notes to the financial statements.
8 54 HOLY FAMILY FOUNDATION
NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2019 AND 2018
1. ORGANIZATION AND PURPOSE
Holy Family Foundation (the "Foundation") was incorporated in Pennsylvania on January 6, 1992 as a nonprofit corporation and is a subsidiary of Holy Family Institute ("HFI"). The mission of the Foundation is to advance, promote, and support the public charitable works and educational purposes of HFI and any other exempt activities or organizations affiliated with HFI.
The Foundation has committed to a specific plan of support for the start- up and development of Nazareth Prep (formerly Holy Family Academy), an innovative independent Catholic high school. Withdrawals from the investment portfolio have been approved by the Board of Trustees pursuant to this plan.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting - The financial statements of the Foundation have been prepared on the accrual basis of accounting. Accordingly, revenues are recognized when earned and expenditures when incurred.
Adoption of New Accounting Standard – The Foundation has adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update ("ASU") 2016-14, Presentation of Financial Statements of Not-for- Profit Entities. The ASU revises the reporting model for non-profit organizations and enhances the required disclosures. The ASU addresses multiple facets of non-profit reporting including: a) the presentation of net assets to reflect “net assets with donor restrictions”, which aggregates the previous classifications of temporarily and permanently restricted net assets and “net assets without donor restrictions” b) required disclosure of quantitative and qualitative information regarding availability of financial assets and liquidity, c) required presentation of expenses by function and natural classification, d) presentation of investment return net of external and direct expenses and e) additional disclosures that do not impact the Foundation's financial statements. To the extent required, the provisions of the ASU were retrospectively applied to the 2018 statements.
Use of Estimates - The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
9 55 Financial Statement Presentation - The Foundation is required to report information regarding its financial position and activities according to two classes of net assets: net assets without donor restriction and net assets with donor restrictions. Net assets without donor restrictions are the net assets that are not restricted by donor imposed restrictions. Net assets with donor restrictions are net assets subject to donor stipulations or restrictions that result from contributions or other inflows of assets limited by donor stipulations that do or do not expire by the passage of time or can be fulfilled and removed by actions of the Foundation pursuant to those stipulations.
Cash - The Foundation maintains, at financial institutions, cash that may exceed federally insured limits at times and that may at times exceed statement of financial position amounts due to outstanding checks.
Availability of Financial Assets - The Foundation's financial assets available within one year of the statement of financial position are as follows:
Cash $ 960,652 Grant receivables 125,000 Investments 7,477,158
Total financial assets 8,562,810
Less: Net assets with donor restrictions (3,400,625)
Total $ 5,162,185
As part of the Foundation's liquidity management, it has a policy to structure its financial assets in such a way that the Foundation has liquid assets available to meet at least 60 to 90 days of normal operating expenses.
Included in the assets above are net assets which have been designated by the Board for use in future periods. Board-designated net assets are $4,576,492 as of June 30, 2019.
Contributions - Contributions received as well as unconditional promises to give are recognized in the period when they are made known to the Foundation. All contributions are considered to be net assets without donor restrictions unless specifically restricted by the donor. Amounts received that are designated for future periods are considered net assets with donor restrictions. Amounts restricted by the donor for specific purposes are reported as net assets with donor restrictions. When a restriction expires, net assets with donor restrictions that are classified to net assets without donor restrictions are reported in the statements of activities as net assets released from restriction. Investment income that is limited to specific purposes by donor restrictions is reported as an increase in net assets without donor restriction if the restrictions are met in the same reporting period as the income is recognized. From time to time, the Foundation also receives notice that it has been named as a
10 56 contingent beneficiary in wills and trusts. The amount, if any, that will be received by the Foundation cannot be determined at this time. Accordingly, no amount has been reflected in the financial statements related to these notices.
Receivables - On occasion, certain organizations and individuals make pledges for future contributions to the Foundation. Such pledges are recorded as receivables in the year made. A valuation allowance is provided for those pledges for which collection is estimated as doubtful; uncollectible pledges are written off and charged against the allowance. Increases in the allowance are reflected in the statements of activities. Pledges are judged to be delinquent principally based on age and contractual terms. In estimating the allowance, management considers, among other things, how recently and how frequently payments have been received. Management determined that an allowance was not required as of June 30, 2019 or 2018. While this assessment was based upon management's best judgment, revisions could be made that would impact this assessment.
Significant long-term pledges are discounted to their present value using an appropriate market rate. Substantially all of the contributions receivable are expected to be collected within one year; as such, no discount has been applied.
Investments - Investments in debt and equity securities and funds are reflected at fair value in the statements of financial position. Recognized gains and losses as well as changes in the unrealized appreciation of investments are reflected in the statements of activities.
The Foundation's investments are invested in a variety of financial instruments, which by their nature are subject to various market risks including changes in the equity markets, the interest rate environment, and economic conditions. Due to the level of risk associated with investment securities, it is at least reasonably possible that the fair value of investments reported in the accompanying statements of financial position could materially change in the near-term.
Fair Value Measurements - U.S. GAAP establishes a framework for measuring fair value of financial assets. That framework provides a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are described below:
Level 1 - Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 - Inputs are not quoted prices in active markets, but they are observable either directly or indirectly.
11 57 Level 3 - Inputs to the valuation methodology are unobservable inputs that may reflect the entity's own assumptions. Level 3 inputs are used in the absence of relevant observable inputs.
The asset's or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
The investments held by the Foundation at June 30, 2019 and 2018 are in the form of mutual funds and marketable securities. These investments are valued at the closing price reported on the active market on which the individual securities are traded (level 1 inputs).
There have been no changes in the methodologies used at June 30, 2019 and 2018.
Donated Services - No amounts have been reported in the financial statements for donated services. However, many individuals volunteer their time and perform a variety of tasks that assist the Foundation with specific programs, campaign solicitations, and various committee assignments that do not meet the requirements for financial statement recognition.
Functional Allocation of Expenses - The costs of providing administrative and development services have been summarized on a functional basis in the statements of functional expenses. Accordingly, certain costs have been allocated among the supporting services benefited based upon the percentage of administrative expenses for each functional expense category recorded at Holy Family Institute.
Income Taxes - The Internal Revenue Service has recognized the Foundation as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and has further classified the Foundation as an organization other than a private foundation. Accordingly, a provision for federal or state income taxes is not required. After an assessment of the Foundation's tax positions, management believes that there is no liability related to uncertain tax positions at June 30, 2019 and 2018. The Foundation is no longer subject to tax examinations for years before June 30, 2016.
Subsequent Events - The Foundation has evaluated subsequent events through November 19, 2019, the date on which the financial statements were available to be issued.
3. INVESTMENTS
Investments consist of the following at June 30, 2019 and 2018:
12 58 2019 2018
Equities and equity funds $ 4,737,911 $ 5,082,834 Corporate bonds and bond funds 2,739,247 2,787,862
Total investments $ 7,477,158 $ 7,870,696
Withdrawals from the investment portfolio in recent years were planned and approved by the Board of Trustees to support the start-up costs of Nazareth Prep (see Note 1).
4. RELATED PARTY TRANSACTIONS
The Foundation receives contributions that are restricted for the use of HFI and Nazareth Prep ("NP"). Disbursements of these pass-through funds are recognized as grant expenses in conjunction with the contribution revenue and are generally disbursed when the funds are received. The Foundation also makes separate grants to HFI and NP in support of various program services. Total grants to HFI and NP in 2019 and 2018 were as follows:
2019 2018 Pass-through contributions: Holy Family Institute $ 87,323 $ 438,157 Nazareth Prep 2,079,807 1,845,110 Total 2,167,130 2,283,267
Grants from Foundation: Nazareth Prep 823,349 1,505,102
Total grants $ 2,990,479 $ 3,788,369
HFI provides administrative services to the Foundation under a service arrangement. Administrative services include personnel expenses, as well as other services, and are allocated to the Foundation on the basis of total expenses, excluding Foundation grants and pass-through contributions. Total administrative service charges from HFI to the Foundation for the years ended June 30, 2019 and 2018 were $18,096 and $33,149, respectively.
Amounts due to affiliates, including grants payable, are as follows at June 30, 2019 and 2018:
2019 2018
Due to affiliates: Holy Family Institute $ (299,226) $ (168,734) Nazareth Prep (23,403) (1,048)
Total $ (322,629) $ (169,782)
13 59 5. NET ASSETS WITH DONOR RESTRICTIONS
The detail of the Organizations net asset categories at June 30, 2019 and 2018, is as follows:
2019 2018
With donor restrictions (in perpetuity): Holy Family Children Fund $ 17,000 $ 17,000 Spiritual Endowment 31,261 31,261 Endowment funds 3,352,364 3,352,364
Total with donor restriction $ 3,400,625 $ 3,400,625
For 2019, and 2018, all amounts with donor restrictions are restricted for future periods.
6. ENDOWMENTS
The Foundation's endowments consist of donor-restricted funds, including any investment gains or losses thereon, established for the support of the Foundation and its affiliates, and contributions without restriction received through the Commonwealth of Pennsylvania Education Improvement Tax Credit program (see Note 7). The endowments are primarily held in the Foundation's investment portfolio.
As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.
The Board of Trustees of the Foundation has interpreted the Commonwealth of Pennsylvania's Act 141 ("Act 141") as requiring the preservation of the fair value of the original donor-restricted contribution. As a result of this interpretation, the Foundation classifies as net assets with donor restrictions the original value of the perpetual endowments and the original value of subsequent additions to perpetual endowments. Dividends and interest earned on endowment funds are immediately appropriated for expenditure by the Foundation and are, therefore, included in undesignated net assets without donor restriction. Realized and unrealized gains on endowment funds are classified as board- designated net assets without donor restriction until those amounts are appropriated for expenditure through specific action of the Board of Trustees.
The following schedule provides a reconciliation of the Foundation's endowments for the years ended June 30, 2019 and 2018:
14 60 Board With Donor Designated Restrictions Total
Balance, July 1, 2017 $ 5,538,263 $ 3,352,364 $ 8,890,627 Investment gain 375,638 - 375,638 Amounts expended (1,337,409) - (1,337,409)
Balance, June 30, 2018 4,576,492 3,352,364 7,928,856 Investment gain 68,012 - 68,012 Amounts expended (68,012) - (68,012)
Balance, June 30, 2019 $ 4,576,492 $ 3,352,364 $ 7,928,856
The Foundation invests endowment assets (both funds with donor restrictions and board-designated endowment funds) in a manner to attempt to provide a predictable stream of dividends and interest to enhance program funding, while seeking to maintain the purchasing power of the endowment assets. To satisfy its long-term rate-of-return objectives, the Foundation relies on a total rate-of-return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The Foundation targets a diversified asset allocation investing in a range of 50%-70% in equity funds, 30%-50% in bonds, 0%-10% in alternative investments, and 0%-50% in cash equivalent funds.
7. EDUCATIONAL IMPROVEMENT TAX CREDIT PROGRAM
The Foundation receives contributions through the Commonwealth of Pennsylvania's Education Improvement Tax Credit ("EITC") program. Under the EITC program, at least 80% of the contributions must be used directly for educational activities, with the remaining 20% available for general use. For the years ended June 30, 2019 and 2018, the Foundation received contributions of $489,545 and $594,125, respectively, all of which were granted to affiliates for educational activities in the respective years.
8. RETIREMENT PLAN
The Foundation participates in the Holy Family Institute Retirement Plan, a defined contribution plan (the "Plan") for the benefit of its employees. The Plan allows for eligible employees to make voluntary contributions upon hire. The Plan also provides for a discretionary employer match. The Foundation contributed $1,448 and $1,892 to the Plan in 2019 and 2018, respectively.
15 61 Prepared for Holy Family Foundation
January 30, 2020
Advice services offered through Vanguard Institutional Advisory Services® are provided by Vanguard Advisers, Inc., a registered investment advisor. 62 For institutional use only. Not for distribution to retail investors. HOLY FAMILY FOUNDATION
Total Portfolio Performance & Asset Allocation Performance Summary ending December 31, 2019
Market Value 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception ($) (%) (%) (%) (%) (%) (%) (%) Date
_ HOLY FAMILY FOUNDATION 7,573,132 2.32 6.35 20.43 ------8.08 May-17 HOLY FAMILY FOUNDATION (Net) 2.32 6.27 20.09 ------7.79 Composite Benchmark 2.15 5.71 20.62 ------8.55 May-17
XXXXX
- Composite Benchmark = 40% Spliced Total Stock Market Index / 24% Spliced Total International Stock Index / 28% Spliced Bloomberg Barclays US Aggregate Float Adjusted Index / 8% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Hedged
Current Allocation as of December 31, 2019
CurrentCurrent $ Current% % PolicyPolicy Difference* Difference*
_ US Equity $3,110,074 41.1% 40.0% 1.1% Non-US Equity $1,848,983 24.4% 24.0% 0.4% US Fixed Income $2,037,672 26.9% 28.0% -1.1% Non-US Fixed Income $576,403 7.6% 8.0% -0.4% Total $7,573,132 100.0% 100.0% XXXXX *Difference between Policy and Current Allocation
Gross of Advisory Fee returns reflect the deduction of fund expense ratios and any purchase or redemption fees. Net of Fee returns reflect the deduction of fund expense ratios, any purchase or redemption fees, and VIAS advisory fee applied to the client portfolio. Returns greater than one year represent annualized returns. Returns less than one year represent cumulative returns. 63 For institutional use only. Not for distribution to retail investors. 4 1 HOLY FAMILY FOUNDATION
Performance Summary (Gross of Advisory Fees) ending December 31, 2019 Market Value % of 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception ($) Portfolio (%) (%) (%) (%) (%) (%) (%) Date
_ HOLY FAMILY FOUNDATION 7,573,132 100.00 2.32 6.35 20.43 ------8.08 May-17 HOLY FAMILY FOUNDATION (Net) 2.32 6.27 20.09 ------7.79 Composite Benchmark 2.15 5.71 20.62 ------8.55 May-17 Total Equity 4,959,057 65.48 3.63 10.05 28.17 ------10.48 May-17 Equity Domestic 3,110,074 41.07 2.99 9.69 30.49 ------12.90 May-17 Spliced Total Stock Market Index 2.87 9.00 30.84 14.56 11.21 13.44 13.67 May-17 Equity International 1,848,983 24.42 4.72 10.66 24.42 ------6.52 May-17 Spliced Total International Stock Index 4.43 9.26 21.80 9.84 5.84 5.13 6.09 May-17 Total Fixed Income 2,614,076 34.52 -0.07 -0.03 8.13 ------3.81 May-17 Fixed Income Domestic 2,037,672 26.91 0.03 0.33 8.21 ------3.57 May-17 Spliced Bloomberg Barclays US Aggregate Float Adjusted -0.09 0.14 8.87 4.08 3.07 3.78 3.78 May-17 Index Fixed Income International 576,403 7.61 -0.43 -1.28 7.88 ------4.66 May-17 Bloomberg Barclays Global Aggregate ex-USD Float -0.44 -1.25 8.06 4.57 3.98 -- 4.87 May-17 Adjusted RIC Capped Hedged
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Gross of Advisory Fee returns reflect the deduction of fund expense ratios and any purchase or redemption fees. Net of Fee returns reflect the deduction of fund expense ratios, any purchase or redemption fees, and VIAS advisory fee applied to the client portfolio. Returns greater than one year represent annualized returns. Returns less than one year represent cumulative returns. 64 For institutional use only. Not for distribution to retail investors. 5 2 HOLY FAMILY FOUNDATION
Performance Summary (Gross of Advisory Fees) ending December 31, 2019 Market Value % of 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception ($) Portfolio (%) (%) (%) (%) (%) (%) (%) Date
_ HOLY FAMILY FOUNDATION 7,573,132 100.00 2.32 6.35 20.43 ------8.08 May-17 Composite Benchmark 2.15 5.71 20.62 ------8.55 May-17 Total Equity 4,959,057 65.48 3.63 10.05 28.17 ------10.48 May-17 Equity Domestic 3,110,074 41.07 2.99 9.69 30.49 ------12.90 May-17 Spliced Total Stock Market Index 2.87 9.00 30.84 14.56 11.21 13.44 13.67 May-17 Vanguard® FTSE Social Index Fund Admiral Shares 1,412,879 18.66 3.32 10.53 ------23.59 Jan-19 Spliced Social Index 3.32 10.59 34.08 17.25 12.53 14.50 24.07 Jan-19 Large-Cap Growth Funds Average 2.77 9.68 33.38 19.55 12.81 13.32 21.87 Jan-19 Vanguard® Windsor™ Fund Admiral™ Shares 474,760 6.27 3.64 10.65 30.52 10.88 8.24 11.70 9.83 May-17 Russell 1000 Value 2.75 7.41 26.54 9.68 8.29 11.80 10.07 May-17 Multi-Cap Value Funds Average 2.65 7.49 24.80 8.46 7.12 10.27 8.53 May-17 Vanguard® Value Index Fund Admiral™ Shares 462,754 6.11 2.73 8.23 25.82 11.70 10.06 12.48 12.26 May-17 Spliced Value Index 2.73 8.25 25.85 11.73 10.09 12.54 12.29 May-17 Large-Cap Value Funds Average 2.81 7.86 25.94 10.06 7.94 10.64 10.20 May-17 Vanguard® Strategic Equity Fund 381,261 5.03 2.09 8.02 26.75 8.31 8.11 13.25 8.65 May-17 Spliced Small and Mid-Cap Index 2.21 7.59 28.75 11.33 9.37 13.13 11.11 May-17 Mid-Cap Core Funds Average 2.36 6.90 27.44 9.31 7.52 11.11 9.08 May-17 Vanguard® Extended Market Index Fund Admiral™ Shares 378,420 5.00 2.17 8.90 28.03 11.08 9.01 12.81 10.90 May-17 Spliced Extended Market Index 2.16 8.86 27.95 10.97 8.90 12.71 10.78 May-17 Mid-Cap Core Funds Average 2.36 6.90 27.44 9.31 7.52 11.11 9.08 May-17 Equity International 1,848,983 24.42 4.72 10.66 24.42 ------6.52 May-17 Spliced Total International Stock Index 4.43 9.26 21.80 9.84 5.84 5.13 6.09 May-17 Vanguard® International Growth Admiral Shares 625,908 8.26 5.68 14.29 31.48 18.06 10.76 8.84 9.55 Sep-18 Spliced International Index 4.33 8.92 21.51 9.87 5.51 4.68 6.02 Sep-18 International Funds Average 3.75 9.03 23.01 9.58 5.48 5.26 5.13 Sep-18 Vanguard® International Value 612,259 8.08 4.19 8.77 20.39 9.61 5.17 4.91 4.72 Sep-18 Spliced International Index 4.33 8.92 21.51 9.87 5.51 4.68 6.02 Sep-18 International Funds Average 3.75 9.03 23.01 9.58 5.48 5.26 5.13 Sep-18
65 For institutional use only. Not for distribution to retail investors. 6 3 HOLY FAMILY FOUNDATION
Performance Summary (Gross of Advisory Fees) ending December 31, 2019 Market Value % of 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception ($) Portfolio (%) (%) (%) (%) (%) (%) (%) Date
_ Vanguard® Total International Stock Index Fund Adm™ 610,816 8.07 4.27 9.01 21.51 9.87 5.85 5.10 5.97 May-17 Shares Spliced Total International Stock Index 4.43 9.26 21.80 9.84 5.84 5.13 6.09 May-17 International Funds Average 3.75 9.03 23.01 9.58 5.48 5.26 5.40 May-17 Total Fixed Income 2,614,076 34.52 -0.07 -0.03 8.13 ------3.81 May-17 Fixed Income Domestic 2,037,672 26.91 0.03 0.33 8.21 ------3.57 May-17 Spliced Bloomberg Barclays US Aggregate Float Adjusted -0.09 0.14 8.87 4.08 3.07 3.78 3.78 May-17 Index Vanguard® Total Bond Market Index Fund Admiral™ Shares 1,026,920 13.56 -0.14 0.03 8.71 4.02 3.00 3.68 3.74 May-17 Spliced Bloomberg Barclays US Aggregate Float Adjusted -0.09 0.14 8.87 4.08 3.07 3.78 3.78 May-17 Index Spliced Intermediate-Term Investment-Grade Debt Funds -0.05 0.21 8.69 3.78 2.84 3.80 3.44 May-17 Average Vanguard® Short-Term Investment-Grade Fund Adm™ 599,958 7.92 0.25 0.63 5.84 2.96 2.56 2.76 2.85 May-17 Shares BBgBarc US Credit 1-5 Yr TR 0.36 0.84 6.58 3.31 2.71 3.07 3.15 May-17 1-5 Year Investment-Grade Debt Funds Average 0.24 0.57 4.68 2.42 1.93 2.15 2.31 May-17 Vanguard® Inter-Term Investment-Grade Fund Adm ™ 410,794 5.42 0.15 0.64 10.49 4.66 3.90 5.11 4.20 May-17 Shares BBgBarc US Credit 5-10 Yr TR 0.43 1.18 13.90 5.79 4.64 5.79 5.24 May-17 Spliced Core Bond Funds Average -0.05 0.21 8.69 3.78 2.84 3.80 3.44 May-17 Fixed Income International 576,403 7.61 -0.43 -1.28 7.88 ------4.66 May-17 Bloomberg Barclays Global Aggregate ex-USD Float -0.44 -1.25 8.06 4.57 3.98 -- 4.87 May-17 Adjusted RIC Capped Hedged Vanguard® Total International Bond Index Fund Adm™ 576,403 7.61 -0.43 -1.28 7.88 4.35 3.75 -- 4.66 May-17 Shares Bloomberg Barclays Global Aggregate ex-USD Float -0.44 -1.25 8.06 4.57 3.98 -- 4.87 May-17 Adjusted RIC Capped Hedged International Income Funds Average 1.29 1.00 6.36 4.15 1.98 2.38 2.88 May-17
XXXXX
66 For institutional use only. Not for distribution to retail investors. 7 4 PROGRAMMING| SITE INTEGRATION
SCHOOL|NP| 2.5 Stories Classrooms, Administrative support space. Little to no renovations required 8,752 SF ADM. BLDG.|NP| 2.5 Stories Classrooms, Administrative support space. Modest renovations required: 15,865 SF
ACTIV. BLDG|NP| 2.5 Stories 4 Classrooms, Administrative support space. Modest renovations required: 30,059 SF
EXIST. GYM|JOH| 2 Stories Program space, Classrooms, Office Space Significant renovations required: COTTAGES|JOH | 2 Stories 4,360 SF Additional space is available for administrative functions on the first floor of each cottage. Little to no renovations required 767 SF per cottage
RETKA|JOH | 3 Stories Admin. support Space, Program space, Office Space EDUC. TRAILER|JOH| 2 Stories Significant renovations required: Classrooms, Office Space 7593 SF No renovations required. 3,230 SF
Scale: 1”= 20’-0” 67 HOLY FAMILY SINTITUTE| DLA+03/02/2020 NAZARETH PREPPROGRAMMING |
ADMINISTRATION BUILDING NEW ACTIVITIES BUILDING EXISTING SHOOL BUILDING
• 12 New Classrooms • 3 Large Classrooms • 12 Classrooms • 10 New Office Spaces • 1 Large Classroom/Multipurpose • 12 Offices Spaces • 2 Existing Offices Spaces Room • 1 Large Meeting Room • Expanded Dining • 4 Athletic Offices • 1 Internship Hub Hall [approx. 108 seats] • 3 Large Storage Rooms • 1 Receptionist • New Dishwashing Area • 1 Training Room • 4 Toilet Rooms • New Teacher Lounge • 4 Locker Rooms • 1 Innovation Center • 6 Toilet Rooms • 1 Conference Room • 6 Toilet Rooms • 1 Retractable Seating for 600 • 1 Large Multi-purpose Gym/Performance Space
Order of Magnitude Order of Magnitude Order of Magnitude Probable Cost = $1.75m Probable Cost = $16.07m Probable Cost = $100k [General Repairs/Maintenance]
68 JOURNEY OF HOPEPROGRAMMING |
GYMNASIUM COTTAGES RETKA HALL EDUCATIONAL TRAILER
• 4 New Classrooms • 4 Existing Office Spaces • 20 New Office Spaces • 3 Existing Classrooms • 7 New Office Spaces • 4 New Small • 2 Existing Office Spaces • 1 New Teacher Lounge Meeting Rooms • 2 Existing Storage Spaces • 1 Existing Storage Space • 2 New Copy Room/Storage • 2 Existing Toilet Rooms • 3 Existing Toilet Rooms Spaces • 1 New Staff Lounge • 1 New Conference Room • 1 New Family room • 1 New Assembly Room [fit 16 people] • 1 New Inventory Room • 5 New Toilet Rooms
Order of Magnitude Order of Magnitude Probable Cost = $759k Little to no renovations requiredProbable Cost = $1.65m Little to no renovations required
69 70 71 Nazareth Prep Intership Partners w/Funding 2019-20
Allegheny County Facilities KPMG
Allegheny County Kane Hospital Maronda Foundation
Allegheny County Kane Nursing Massaro Construction
Allegheny County Parks McCarl Services
Allegheny Health Network/Allegheny General MSA Safety
ATI Metals Partner 4 Work
Buchanan Ingersoll & Rooney PC Peoples Gas
Carlow University Early Childhood Preapprentice Pittsburgh Commercial Construction
Cohen & Grigsby Pittsburgh Mailing
Countywide Petroleum Pittsburgh Penguins
Covestro Pittsburgh Post Gazette
Deloitte Pittsburgh Steelers
DLA Plus Architects PJ Dick - Trumbull
Dollar Bank PNC
Eaton Corporation Port Authority of Allegheny County
FedEx Red House Communications
First National Bank Rosedale Technical College
Gateway Health TeleTracking
Harbison Walker United Steelworkers Union
Highmark UPMC
Howard Hanna UPMC Children's Hospital
Hussey Copper UPMC Mercy
Jim Shorkey Auto Group UPMC Shadyside Hospital
Junior Achievement Wilson Group
K&L Gates
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2020-21 Internship Prospects: Active and Declined (Past) Status Company DECLINED Active Bank of America Alco Parking Active Calgon Carbon Allegheny County Airport Authority Active Comcast Allegheny County Sports and Exhibition Authority Active Pietragallo Gordon Alfano Bosick & Raspanti Avison Young Active Quest Diagnostics BNY Mellon Active Eat'n Park / Parkhurst Buncher Active First Commonwealth Bank Columbia Gas Active Mascaro Construction CONSOL & CNX Resources Active ANSYS Emcor Services Scalise Industries Active WG Tomko Enterprise Rent-A-Car Active Allegheny County Bar Assn. Fox Rothschild LLP Active Astrobotic Technology, Inc. Franklin Interiors Active Bombardier Gatesman Active Citizens Bank GNC Active Clark Hill GS Jones Active Del Monte Foods, Inc. Healthcare Council of Western PA Active Dick's Sporting Goods Hillman Company Active Duquesne Light Honeywell Active Eckert Seamans Cherin & Mellott LLC IKM Incorporated Active Elliance Iron Mountain Active Fragasso Financial Advisors Keystone Mfg. Active Gateway Engineers Landau Building Co Active Google Level 3 Communications Active Grant Thornton Limitless Chiropractic Active Houston Harbaugh Management Science Associates Active IBEW McKamish Active Mongiovi & Son Plumbing Contractors Mitsubishi Electric Active Newmark Knight Frank Passavant Active Northwest Savings Perryman Company Active Oberg Industries Pitt Ohio Active PPG Pittsburgh Business Times Active Presbyterian Senior Care Network Pittsburgh Graphic Communications (PGC) Active Wabtec Pittsburgh Pirates Active Shell Pittsburgh Steel Fastener Company Active Gordon Food Service Polish Falcons PricewaterhouseCoopers (PWC) Range Resources LOST PARTNER MARC Reed Smith LOST PARTNER Chapman Properties Renda Broadcasting LOST PARTNER Koppers Sarris Candy LOST PARTNER Mercy Surgical Dressing Group Schell Games Schenley Capital Tarax Service Systems, Inc. The Hill Group The Walsh Group USX Federal Credit Union EQT Sargent Electric Franco Construction Federal Home Loan Bank Jones Day Lamar Advertising Key Bank / Key Insurance Mancini's Bakery
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2020-21 Internship Prospects (No Contact) PROSPECTS 5 Generations Bakers Kaarta Inc. AccuTrex Products Inc. Kennametal Inc. Ace Wire and Spring Kraft Heinz Co. Advanced Construction Robotics Lanxess Corp. Aethon Inc. Larson Design Group Alcoa Corp. Lesker Company Allegheny Health Network Locomation Inc. American Eagle Outfitters Marcellus Shale Coalition Ampco-Pittsburgh Corp. Matthews International Corp. AON Risk Solutions MBM Contracting Aquatech International LLC McConway & Torley, LLC Architectural Innovations Michael Baker International Arconic ModCloth Argo AI Near Earth Autonomy Inc. Aurora Innovation Neya Systems LLC Babst Calland Nova Chemicals BDO Novum Pharmaceutical Research Berkshire Grey OpenArc Bosch PGT Inc. Trucking Bossa Nova Pittsburgh Logistics Systems (PLS) C.S. McKee LP Plantscape Cabot Oil and Gas Preservation Technologies Carmeuse Lime & Stone RE2 Robotics Cellone's Bakery RedZone Robotics Inc. Edge Case Research Inc. Republic Services Erie Insurance Rice Enterprises LLC Esmark Inc. RoadBotics Inc. Evoqua Water Technologies Corp. Schroeder First Energy Seegrid Corp. Gecko Robotics Sepro America LLC Hanlon Electric StarKist Co. Hatch Chester Thermo Fisher Scientific Hebi Robotics Thread International Human Engineering Research Laboratories Uber Iam Robotics UGI Evergy Services II-VI Inc. United States Steel Impact Guard LLC Universal Stainless & Alloy Products Inc. Industrial Scientific Westinghouse/Churchill Intervala LLC Wyndham Grand IPEG Inc.
74 Holy Family Institute Strategic Plan 2018 -2021 2019/20 Goals Mission Values Update In the rich tradition of Catholic social teaching and rooted in the heritage of the Faithful Listening, February 2020 Sisters of the Holy Family of Nazareth, we empower children and families to Loving Relationships lead responsible lives and develop healthy and meaningful relationships built on Finding God in the Everyday faith, hope, and love.
Three Year Strategic Priorities One Year Goals 2019/20 Progress 1. Consider additional expansion of JOH or Priority One: Organizational Effectiveness provide an additional service such as long- Budget of $28 million approved for 160 children on two A. Deliver meaningful, measurable, and financially sustainable services term group foster care on another campus. sites. for children and families. 2. Develop a plan to implement PAIS Plan for implementing PAIS recommendations was sent to Evidence of Success: Meet or Exceed established expectations by stakeholders. recommendations for Nazareth Prep PAIS on February 28, 2020. Resources are available to ensure talent and services.
Priority Two: Financial Stability One Year Goals 2019/20 Rate increases of 12% received for SHORES effective A. Mission impact and sustainability. 1. Request rate reviews and increases from November 1, 2019 and an 20% increase for Allegheny In- B. No more than 5% is used from HFF investment portfolio. government contracts. Home services retroactive to July 1, 2019.
Evidence of Success: Break even or surplus at year end. HFF income available 2. Engage in planning process to conduct a Campus master planning process begun. Preliminary results for new program investments, training, and program enhancements. comprehensive campaign to go public by and recommendations should be ready for March board 2021 and conclude by 2025. meeting.
Priority Three: Mission & Brand One Year Goals 2019/20 New Director of Development, Meg Bernard, taking the A. Increase awareness of HFI’s mission and programs in the community. 1. Establish yearlong communication and lead with Development Staff, Nazareth Prep Admissions, B. Brand Nazareth College & Career Prep marketing plan for all programs and services. and PR Consultant.
Evidence of Success: Program utilization is above industry standards. Plan will be based on calendar year. Enrollment goals are achieved. Nazareth Prep standards manual (talking points, definitions, metrics, other terminology) nearly complete.
Priority Four: Talent One Year Goals 2019/20 Salaries for high turnover positions were increased. We will A. Create succession plan for key leaders. 1. Reduce staff turnover. monitor changes in retention rates. B. Implement comprehensive talent strategy C. Improve internal communications. 2. Revamp board agenda and create charters for All committee charters have been developed and will be D. Improve internal board processes. all board committees. reviewed annually. HR charter still in process.
Evidence of Success: Potential leaders are identified for key positions. Turnover 3. Recruit trustees to all boards with a continued In the past two years, 4 out of 9 new trustees are minorities. is better than industry standards. Staff members can identify and describe focus on diversity. various programs. Satisfaction with internal communication is at least 85% A campaign committee has not been fully established; some based on surveys. Board members express engagement and satisfaction (90%). 4. Recruit influential participants to serve on key individuals recruited. All board members give or get resources. At least 20% of the board members are campaign committee. people of color.
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