20 Years of Giving 1 Report from the Chair & Chief Executive Officer
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9910–103 Street NW Edmonton AB T5K 2V7 www.ecfoundation.org Tel 780.426.0015 Fax 780.425.0121 Email [email protected] Business number (for charitable purposes) 12243 7072 RR0001 At time of printing this Annual Report is sponsored in part by: EDMONTON COMMUNITY FOUNDATION • ANNUAL REPORT 2009 REPORT • ANNUAL FOUNDATION COMMUNITY EDMONTON Vision Creative Inc. This annual report was printed on recycled paper. EDMONTON COMMUNITY FOUNDATION • ANNUAL REPORT 2009 Designed by Vision Creative Inc. www.visioncreativeinc.com 20 Years Governance Committee of Ove Minsos (We were saddened when Tom Olenuk Committee Nominators Tom Olenuk passed away suddenly in November 2009) Larry Pana, Chair Neena Ahluwalia Anne Smith of Giving Reg Basken Joanne Beaton Greg Jaycock George Dawson Ove Minsos Justice Sheila Rod Rode Greckol Edmonton Community Foundation is celebrating Neil Gower 20 years of philanthropy in Edmonton. Over those Rod Rode 20 years, the Foundation has gained a reputation in Joanne Beaton the community for its expertise at building bridges between donors’ wishes and the needs of charities. Zaheer Lakhani The generosity of our donors has helped make ECF the fourth largest community foundation in Canada. Donations to the Foundation are endowed, which means they are permanently invested for long term growth. The initial gift grows through investment to provide ongoing support – forever. Earnings from the donations provide ongoing support to charitable activities. Over these past 20 years, the Foundation’s assets have grown to more than $250 million and have granted more than $110 million to the community. We think this is something worth celebrating. Table of Contents Report from the Chair and CEO 2 Legacy Donors 5 Funds, Grants and Disbursements 24 Financial Highlights and Reports 41 20 Years of Giving 1 Report from the Chair & Chief Executive Officer Anniversaries give us a chance to reflect on What this means is that every year of our the past and to look ahead to the future. As next twenty years (even in times of financial we near the end of our 20th anniversary year, crisis or slower growth) millions of dollars the looking back is easy. The three founding will be put to work in our community families from 1989, John and Barbara Poole, – invested in essential work in health, Bob and Shirley Stollery and George and education, social services, arts and culture, Rae Poole, are clearly and happily brought to recreation and the environment. As a result, mind, especially because Barbara and Shirley Edmonton will be a better place than it are still very much with us! would be otherwise – for all of us. What perhaps isn’t so widely known is the Several important things happened in 2009. vision of these families – matching well their After reviewing and fine tuning our asset generosity. Although each family had its own mix and investment policies, ECF’s portfolio particular charitable interests, they all put achieved the highest return on investment significant assets into a “community fund” ever: 14.75% (15.24% gross of fees). Generous so that the Foundation of the future could donors contributed more than $18 million respond to emerging issues and urgent last year, despite the uncertain economic needs that weren’t apparent twenty years climate. More than $10 million was disbursed ago. The community fund has grown over to local charities during 2009 and more the years, although the challenge remains than a hundred and fifty students received to respond strategically and effectively to scholarships and bursaries. increasing needs in our community as other During this anniversary year, we also made funding sources stagnate. strategic efforts to reach out more broadly So, our first twenty years are worth into the Edmonton community. We invited celebrating. From founding gifts totalling hundreds of people to a speaker series on $15 million, ECF assets have grown to more the Future of Community and we distributed than $250 million at the end of 2009. And our first magazine, Legacy in Action, to tens during that time, more than $1 10 million has of thousands of Edmontonians. Another been distributed to hundreds of mostly local successful Wills Week was held and the charities. They have done excellent work Social Enterprise Fund and Edmonton & with those resources – thousands of people Area Land Trust continued to grow. have been helped to address pressing needs Significant community investments continued and to respond to creative opportunities. in the several Foundation Directed Initiatives – As well, in our first twenty years, hundreds supporting high performing organizations and of other donors have joined the founders in key collaborations, especially with our closest setting up endowments at ECF – more than partners, United Way of Alberta Capital 550 named funds have been established Region and City of Edmonton Community and hundreds of will intentions have been Services. These collaborative projects recorded. allowed us to leverage our funds to bring more resources to bear on urgent community 2 Edmonton Community Foundation • Annual Report 2009 problems and longer term opportunities. Mission We also invested staff time in community The Edmonton Community Foundation exists leadership efforts – going well beyond the to help the people of Edmonton and area funding we were able to provide. by encouraging philanthropy and funding charitable activities. At the Board level, we are sad to be saying Through contributions from donors, the good-bye to four key leaders who have Foundation assembles and administers served us well for many years: Karen Platten, permanent pools of capital so the returns can be perpetually reinvested in our community. Chair, John Holmlund, Deputy Chair, Ove The Foundation complements and supports Minsos and Zaheer Lakhani – they all served other charitable agencies. the maximum years allowed as Directors. Fortunately, the Committee of Nominators has provided worthy successors. Several Vision committee members have also completed 21st century vision for Edmonton Community their terms and we thank them for their Foundation: service to us and to you. • Trusted by donors as the first choice to create endowments As we enter our third decade of operations, • Recognized by charities as the primary this anniversary is an ideal time to say again source for grants that meet community how grateful we are for all of the generous needs, enrich people’s lives and build an enduring legacy of positive change donors whose commitment to Edmonton • Acknowledged by community leaders as never fades. Your continued support and the right place for innovative and prudent confidence in the Foundation has allowed investments in Edmonton’s future. us to make a lasting and positive impact on this community we share. Values The confetti strewn pages of the annual report highlight the theme of celebration. The Edmonton Community Foundation values: • Its relationships with the community including Because it is your foundation, we are donors, grantees, volunteers and staff delighted to wish you: Happy Anniversary! • Its role as a catalyst for building and strengthening our community • The integrity, autonomy and independence of others • Openness, honesty, accessibility, fairness Karen Platten Martin Garber–Conrad and mutual respect Chair Chief Executive Officer • Community leadership, visionary thinking and innovation • Fiscal prudence through efficient and strategic practices. 20 Years of Giving 3 The Power of Endowment For 20 years Edmonton Community to respond to evolving needs. Soon this Foundation has worked closely with donors fund will have provided more than the to create endowment funds that reflect total amount in gifts to the fund – over their charitable interests. The Foundation $10 million. Throughout the years the now holds over 550 endowed funds that Foundation’s Board of Directors and support an array of charitable causes that advisory committees have been able to put benefit arts, culture & heritage, recreation donor dollars to good use for emerging & leisure, education & learning, social & community priorities. Early investment in community services, health & wellness and charitable organizations has helped build the environment. some of our most valued community assets such as Big Brothers Big Sisters Society of Donors to the Foundation know that their Edmonton, the Citadel Theatre and the gifts will be carefully invested and they trust Bissell Centre. us to provide prudent stewardship of their endowments. There are a number of ways This is the power of endowment – building for donors to make gifts to the Foundation funds over time so that gifts can continue including gifts to existing funds or the to benefit our community and fulfill donors’ creation of named funds. Gifts can be cash, philanthropic dreams forever. publicly traded securities, bequests, life insurance policies or other assets. Gifts can also be made through the General Community Fund, which is also marking 20 years. This is a discretionary fund established to allow the Foundation 4 Edmonton Community Foundation • Annual Report 2009 Gifts Planned for the Future We thank the many generous donors who have planned gifts that will create or add to endowment funds at a future date – gifts such as those made in wills or through life insurance or other estate planning tools. When Edmonton Community Foundation is aware of these plans, we have the opportunity to put documents in place to ensure we understand how we are to use the funds in a way that brings each donor the greatest meaning and personal satisfaction. Thank you to the following donors for indicating they have made such a future gift. Anonymous Helen Davies Sarah & Martin Anne Kirkpatrick Louise Perkins Thomas Summers Gouin & Geoffrey King Paul & Carol Elly de Jongh Doris Tanner Dree Thomson Arnold-Schutta L. Neil Gower Larry & Kathy Pimm -Diamond Anne Marie Decore Klaus Diana M. Bacon Bill Grundy Karen Platten Olive Thorne Randy Diamond Phillip Frank Robert A. Bailey Brian & Frieda David & Cheryl Darryl Trueman David Dickinson Lambert Haliburton Porter Geoff Ball & & Colette Mandin Constance David & Joan Amanda Newton Francia Harvonen Dan Post Unsworth & Dolores Dilkie Laurie Marshall R.C.