Trust Vision Leadership
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Trust Vision Leadership 2015 COMMUNITY REPORT 2015 Community Report At-A-Glance Founded 1969 Assets $87.8 million Geographic area 20 towns of Northwest Connecticut Funds under Foundation management 261 Scholarships awarded $137,950 Grants awarded $4,051,474 Grants and scholarships awarded $4,189,424 Grantees 203 Scholarship recipients 138 Volunteers more than 120 Gifts received $4,204,424 A 2015 Community Report Funds 4 The Community Foundation is comprised of unique and impactful discretionary, field of interest, donor advised, designated, agency, and scholarship funds. Gifts and Grants by Fund 20 Throughout the year, fundholders and members of the community establish or make contributions to funds held at the Community Foundation with a focus on causes that matter and programs that work to improve our Northwest Corner. These gifts result in grants that effect positive change in our communities. Scholarship Fund Donations and Recipients 37 Each summer, the Community Foundation awards scholarships to area students based on the criteria established by scholarship fundholders. Agency Fund Contributions, Gifts and Disbursements 42 Agency funds are created by nonprofits to support their charitable efforts. Throughout the year, nonprofits make contributions to and distributions from their funds. Supporting Organizations 45 The Community Foundation supports the work of privately established foundations in the Northwest Corner. Corporate Partnerships 46 The Community Foundation supports the philanthropic work of corporations. Investment Report and Audited Financials 47 Committees, Councils and Societies 50 Volunteers work endlessly to support the mission of the Community Foundation and the nonprofits of our Northwest Corner. What’s in a name? At the Community Foundation, we have marked our forty six year history with extraordinary growth and transformation shaped by the benevolence and dreams of our friends and neighbors and the exemplary stewardship of volunteer community leaders from every corner of the region. Guiding us in ways we could not have anticipated or imagined, people like you have informed our progress as a center of local philanthropy, creating an organizational identity brimming with resolve and purpose, one that has become the organic embodiment of our philanthropic DNA – by and for the citizens of Northwest Connecticut. Our identity is by no means random, or accidental. Local citizens want to make a difference with opportunities to create lasting change in our Northwest corner communities. For our part, as aggregators of intellectual, social and community capital and collaborative agents of change for the greater good in Northwest Connecticut, it is our privilege to advance their charitable endeavors. The Foundation’s record of accomplishment in 2015 – the sum total of innovations, efficiencies and modern business practices we apply to local philanthropy is a source of pride and humility. The following pages outline some of the new technologies and services we are developing to assist and educate our donors while we simultaneously implement creative strategies to support the needs of our nonprofit community. Building on a record of over $4 million in grants in 2015 and fund investment returns that led the nation when compared to our community foundation peers, we are looking forward to tomorrow’s challenges with a commitment to performance and a vision of leadership that make us Northwest Connecticut’s Community Foundation, in name, in spirit, and in practice. Yours truly, Guy Rovezzi Douglas K. O’Connell President Chair 2 Northwest Connecticut Community Foundation Established in 1969, the Northwest Connecticut Community Foundation serves Litchfield County with 261 funds that support nonprofit organizations and provide scholarships to area students in 20 towns within the Northwest Corner, including Barkhamsted, Bethlehem, Canaan/Falls Village, Colebrook, Cornwall, Goshen, Hartland, Harwinton, Kent, Litchfield, Morris, New Hartford, Norfolk, North Canaan, Salisbury, Sharon, Torrington, Warren, Washington and Winchester/Winsted. Mission To enrich the quality of life for residents of Northwest Connecticut by inspiring local philanthropy, convening stakeholders in community welfare, strengthen- ing the regional nonprofit network and fostering collaborative funding partnerships. Governance In its Board of Directors, the Northwest Connecticut Community Foundation has an active governing body that is responsible not only for establishing the mission and strategic direction of the organization, but also is charged with oversight of its finances, operations and policies. The Board, which is independent and broadly representative of the people within the Northwestern Connecticut area served by the Foundation, is comprised of individuals who have demonstrated civic leadership in a variety of ways and who have a strong record of volunteer community service. 3 FUNDS 2015 New Funds Robert B. and Cheryl Freehill Pauls Fund This fund supports the arts—visual and performing—and arts education initiatives in Northwest Connecticut and beyond. Harwinton Library Friends-Stasia Motuzick Endowment Fund This endowed agency fund supports the charitable mission of the Harwinton Library Friends. The Institute for American Indian Studies Fund This endowed designated agency fund supports The Institute for American Indian Studies in its charitable mission to preserve and promote the spirit of the first people. The Jeff and Diane Johnson Community Enhancement Fund This donor advised fund primarily supports the charitable, scientific, or educational initiatives in or affecting the people of Goshen. The Norfolk Foundation Fund This fund supports the charitable purposes of the Norfolk Foundation, contributing to the sustainability and revitalization of Norfolk in relationship to the area's natural, artistic, and cultural attractions. The Rivera Family Fund for Arts and Music Established through a bequest from Torrington resident Mary Elizabeth Rivera, this field of interest fund supports the advancement of the arts and music through scholarships. The United Nations Association of Connecticut Scholarship Fund This endowed charitable fund supports a United Nations Association scholarship administered by The United Nations Association. The Warner Theatre Sustainability Fund This agency fund supports the efforts of The Warner Theatre toward the development of performing, visual and literary arts through media presentations and local community stage productions; the providing of a venue for local and regional organizations, as well as national touring companies and artists; the providing of educational opportunities to all, and the preservation and maintenance of the historic Warner Theatre building, Nancy Marine Studio Theatre, and the Warner Campus. Washington Art Association Capital Campaign Fund This non-endowed pass-through fund supports the capital facility needs of the Washington Art Association. Washington Garden Club Investment Fund This agency fund supports the charitable mission of the Washington Garden Club to develop knowledge and a love of gardening among its members and the public, to enhance the natural beauty of the Washington, Connecticut, community through civic plantings, and to promote the conservation of natural resources. 4 Discretionary Funds Discretionary Funds are a powerful means through which donors enable effective charitable giving where and when it is most needed. Grants are awarded in the name of the fund to nonprofits chosen through a comprehensive selection process administered by the Community Foundation. Discretionary funds provide enormous impact in addressing current and emerging community needs, creating an unending philanthropic legacy. Bank of Boston Fund | est. 1998 Ruth and Robert Cron Endowment Fund Created by local executives at the then Bank | est. 2007 of Boston, this permanent fund supports the This fund honors the memory of Ruth E. Cron, Community Foundation and the communities supporting nonprofit organizations throughout it serves. the Northwest Corner. Khurshed Bhumgara Fund | est. 2014 Marion Wm. and Alice Edwards Fund This endowed unrestricted fund was established | est. 2004 through a bequest from Khurshed Bhumgara. Mr. and Mrs. Edwards, both educators with a long Mr. Bhumgara retired in 2002 from a successful history of civic involvement, were dedicated to career in capital and real estate development. learning and devoted to Torrington. This fund was He settled in Sharon,Connecticut, where he established by a bequest of $2.75 million. It sup- worked tirelessly to support and steward the ports the crucial work of nonprofit organizations. nonprofits of the Northwest Corner, including First National Bank of Litchfield Fund serving as a Community Foundation board | est. 1997 member for many years. This endowment supports the Community Brooks Bank Fund | est. 1970 Foundation and the communities it serves in One of the first to be established at the perpetuity. Community Foundation, this fund was initiated by Fleet General Fund employees of the Torrington-based Brooks Bank, This endowed unrestricted fund supports the which subsequently merged with Colonial Bank nonprofits of Northwest Connecticut. and Trust Company. Lucia Tuttle Fritz Fund | est. 2008 John Brooks Fund | est. 1977 A lifelong resident of Torrington, Mrs. Fritz estab- A prominent Torrington banker, Mr. Brooks lished this unrestricted fund through a bequest. established this endowment to assist area nonprofit organizations in perpetuity.