Get Comfortable with Giving Contents ICF Staff History and Mission
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2006 ANNUAL REPORT Get Comfortable With Giving Contents ICF Staff History and Mission . .C Leadership Letter . .1 Friend of the Foundation . .1 Directors . .2 About the Foundation . .3 Choices for Donors . .3 Endowed Funds . .3 Greatest Need Fund . .3 Advised Fund . .3 Field-of-Interest Fund . .3 Geographic Fund . .4 Designated Fund . .4 Scholarship Fund . .4 Agency Fund . .4 ICF Operating Endowment Fund . .4 Non-Endowed Funds . .4 Philanthropic Gift Fund . .4 Special Project Fund . .4 Other Giving Options . .5 Supporting Organization . .5 Charitable Gift Annuity . .5 ICF Staff: Top: Stewart Edwards, Hilarie Engle, Holly Motes, Sami Jo Melton, Marc Orcutt; The Legacy Society . .5 Bottom: Josie Abels, Cathy R. Silak, Jennifer Wheeler. Fees and Charges . .6 Advantages for Donors . .6 Donors . .7 Information for Professional Advisors . .14 Individual Endowed Fund Descriptions . .17 Highlights Individual Non-Endowed Fund Descriptions . .29 • Total assets grew by 18% to $68.7 million. Grants and distributions totaled over $3.3 million. Supporting Organizations . .32 Legacy Society Members . .33 • Investment performance for the year 2006 was 14.3%. Grants and Distributions . .34 • 38 new funds were created. Regional Advisory Panels . .47 • ICF’s Annual Luncheon hosted Greg Carr, an Idaho-grown international philanthropist. Membership . .48 • ICF received a $25,000 grant from the Albertson Boise Open golf tournament to re-grant to Finance . .52 Boise area nonprofits that provide dental care to uninsured or under-insured children. Summarized Financial Data . .53 • The Board of Directors created its first new standing committee, the Marketing Committee, since the creation of the Foundation. • ICF partnered with the Idaho Nonprofit Development Center to create opportunities for Idaho nonprofits to participate in the Standards for Excellence program designed to strengthen the Our History leadership and business practices of nonprofits. The Idaho Community Foundation was established in November of 1988 to enhance the pool of philanthropic capital available to Idaho charities. As Idaho’s only statewide community foundation, and with early assistance from the Whittenberger Foundation, the Charles Stewart Mott Foundation, the Northwest Area Foundation, and the Council on Foundations, ICF has assumed a leadership role in Our Mission working with donors to build the state’s resources. In 2006, every one The mission of the Idaho Community Foundation is to enrich the quality of life of Idaho’s 44 counties benefited from ICF grants and distributions. throughout Idaho. We achieve that mission by gathering funds from donors while Through the Idaho Community Foundation, generous people around helping them achieve their charitable objectives; growing the funds over time Idaho work daily to enrich the quality of life throughout Idaho. through a sound investment process; and granting the funds for a broad variety of worthwhile projects statewide. On the front cover: CouchSurf by Patrick Stoll www.patrickstoll.com Friend of the Foundation Dear Friends, Roger Martell Idaho is a wonderful state in which to live and Roger Martell, a founding member raise a family, and it is a true honor to serve the state of ICF, was honored as the 2006 Friend through the philanthropy of the Idaho Community of the Foundation. The award is given Cathy R. Silak Duane Jacklin Foundation. During the last year ICF experienced in recognition of outstanding service to record growth in its assets and in the number of funds or support of ICF. Martell retired from encompassed within the Foundation. At year-end, assets totaled $68.7 million. Of that amount, service on the Idaho Community Roger Martell over $59 million was in permanent endowment. By comparison, at year-end 2005, total assets Foundation Board of Directors in 2006. were $58.2 million with just over $49 million in permanent endowment. New donations for A native Idahoan and Eagle resident, Martell practiced public 2006 totaled slightly over $7 million. The remaining growth was achieved through ICF’s accounting from 1979 to 1994. He was the office-managing investments for both endowed and non-endowed funds. Investment returns for the endowed partner and senior tax partner of the Boise office of Deloitte and funds were 14.3 %. The total number of funds increased by 37 to 372. We continue to receive Touche, LLP, and is an advisor with Washington Trust Bank. various types of gifts including several donations directly from individual retirement accounts. Martell sat on the steering committee that established the ICF’s mission is to enrich the quality of life throughout Idaho, and we accomplish this mission by Foundation in the late 1980s. He became ICF’s first treasurer and sound practices of grant-making. ICF continued its practice of distributing 5% from the endowed served as such from 1988 to 1997. He also was chairman for funds, so our 2006 grants and distributions awarded totaled $3.3 million, and we are proud to three years. His board tenure started in 1996. He serves as co- continue our tradition of making grants in all of Idaho’s 44 counties. The volunteer regional advisor to the Gladys E. Langroise Advised Fund in the Idaho grants panelists continue to inspire Board members and staff with the level of their community Community Foundation—ICF’s largest advised fund. knowledge, the depth of their research into the applications, and the wisdom they bring to the grants panels. For 2006 the Board of Directors awarded $570,000 in competitive grants. The Previous Recipients competitive grants process remains a strong hallmark of the Idaho Community Foundation. Again this year we were honored to have the continued support of the J.A. and Kathryn Albertson 1995 1998 2002 Foundation for the educational grants aspect of our competitive grant program. John Chapman Warren McCain J.A. and Kathryn In early 2006 the Board of Directors adopted an updated strategic plan which focuses on four Hailey Boise Albertson objectives: enhancing Foundation leadership; heightening the awareness of ICF throughout the 1996 1999 Foundation state; increasing the asset base; and improving the grant distribution process. The plan provides Miles Willard Margaret Gigray Boise guideposts and a framework for focus as the Foundation continues to experience growth and new Idaho Falls Caldwell 2003 challenges and opportunities. 1997 Nick Ifft James H. Roper Last year Roger Martell completed his Board service and he was honored at our Annual Burley Luncheon as the Friend of the Foundation. We welcomed a new Board member, Joe Marshall of Jane and Arthur Pocatello Boise, the retired CEO of Idaho Power. Oppenheimer 2000 2004 In sum, 2006 was a record-setting year and we look forward to serving our donors and grant Boise John Fery Alice E. Hennessey recipients in 2007. Thank you to all our friends! Boise Boise Sincerely, 2001 2005 Park Price III Steele-Reese Idaho Falls Foundation New York, NY Cathy R. Silak Duane Jacklin President and CEO Chairman of the Board ICF 1 Board of Directors JOHN BENNETT CAROL BURNETT DOUG CHADDERDON SANDY FERY DIANE PLASTINO GRAVES RALPH M. HARTWELL SUS HELPENSTELL Grangeville Pocatello Coeur d’Alene Boise Boise Idaho Falls Nampa RICHARD F. HUTTER DUANE JACKLIN DAN KELLER BRAD LITTLE IRVING LITTMAN TODD MADDOCK JOE MARSHALL Sandpoint Post Falls Preston Emmett Boise Lewiston Boise ROGER A. MARTELL MICHAEL G. MCBRIDE DOUGLAS R. NELSON JOHN A. ROSHOLT RON SALI JORDAN P. SMITH KIKI TIDWELL Eagle Twin Falls Idaho Falls Twin Falls Boise Salmon Hailey OFFICERS/Committee Chairs DUANE JACKLIN SANDY FERY IRVING LITTMAN DOUG CHADDERDON Chairman Marketing Committee Treasurer Audit Committee Investment Committee BRAD LITTLE JOHN A. ROSHOLT DOUGLAS R. NELSON Vice Chairman Secretary NANCY SUE WALLACE Vice Chairman, Asset Nominating Committee Grants Committee Development Committee NANCY SUE WALLACE PAUL YOCHUM CATHY R. SILAK Hayden Pocatello President and CEO 2 ICF About the Foundation DEFINITION A FUND IN THE FOUNDATION Advised Fund A community foundation is a tax-exempt public This is an individual account created by the Donors can have ongoing involvement in the charity that enables individuals and organizations to contribution of a donor or group of donors. Each fund distribution of their gift by retaining the privilege of achieve their charitable intent by establishing charitable carries a name chosen by the donor(s). That name and participating in the selection of beneficiaries of their funds within the Foundation. Each fund is governed by the guidelines established when the fund is created fund. Donors can continue to address the issues and its own legal document and is accounted for separately. become its distinguishing characteristics. needs they care about most. While IRS regulations Endowed funds are pooled for more efficient and cost Anyone can create a Foundation fund. Individuals, require that each final decision must rest with the effective investment management. companies, nonprofit organizations, and other Foundation’s Board of Directors, the advice given by The Idaho Community Foundation is Idaho’s only foundations have created funds, and anyone may add to donors is fully considered in making grants from these statewide philanthropic organization supported by the any fund in any amount at any time. funds. Recommendations are submitted to ICF’s Board public with private funds. ICF assists with a broad A person need not be wealthy to establish a “named for approval, then grants are distributed in the name of range of charitable, cultural, and educational projects fund” in the Foundation. Such a fund can be established the fund. within Idaho and occasionally beyond the state’s with a minimum contribution of $5,000 in assets (or a Minimum Amount: $25,000 (can be a pledge payable borders. pledge payable within a maximum of five years). over five years). Management Fees: 1% annually (assessed quarterly at GOVERNANCE a rate of .25%) on the Fund’s average balance. The Fund Choices for Donors also bears its prorata share of the trustee fees paid to the The Foundation is governed by a volunteer Board of Foundation’s investment managers (approximately .28% Directors representing Idaho’s diverse geography (see at year end 2006).