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The Power of More the Foundation As a Catalyst for Connection

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The Power of More the Foundation As a Catalyst for Connection The Power of More The Foundation as a Catalyst for Connection Greater Worcester Community Foundation 2014 Annual Report C1 Table of Contents 2014 Highlights ......................................................................................2 Networks at Work How the Foundation and its partners are focusing on the fundamentals: Nurturing the Youngest among Us ................................................................4 Stabilizing Homes, Improving Neighborhoods ...................................................6 Increasing Food Security ...........................................................................8 Integrating Refugees and Immigrants into the Community ................................... 10 Developing an Engaged, Informed Citizenry ................................................... 12 Grant Highlights .................................................................................. 14 How to Give........................................................................................ 17 List of Funds ....................................................................................... 18 Discretionary and Field of Interest Funds ...................................................... 18 Donor Advised Funds ............................................................................ 20 Scholarship Funds ................................................................................. 25 On the cover: We thank the Designated Funds ................................................................................. 28 staff and clientele from Central Agency Funds ..................................................................................... 30 Massachusetts Housing Alliance, Creating a Legacy: The Acorn Society ...................................................... 32 Girls Inc., Rainbow Childhood Development Center, and Regional Financial Stewardship ........................................................................... 33 Environmental Council, and Corporators 2014 ................................................................................ 34 Foundation donors whose faces Board of Directors ............................................................................... 35 on our cover portray community Staff List ............................................................................................ 36 connections and the power of more. C2 Letter to Our Community At a Glance Total gifts received: $6.2 million Bequest gifts: $.46 million Your Foundation begins its fifth decade with a fresh focus on Number of gifts: 1404 fundamentals. Number of donors: 1189 In 2014, the board reviewed all grantmaking over the past 24 decade to determine arenas within which we can make a pivotal Number of new funds: difference. With a mission to strengthen our community as a Number of funds in total: 555 whole, the Foundation casts a wide net while addressing urgent Grants and Scholarships approved: $5.8 million needs in greater depth. Number of grantee organizations: 603 The Foundation has developed inroads of influence not only as Investment return: 2.8% a funder but also as a convener, advisor and, particularly through Total assets: $138.9 million its Nonprofit Support Center, as an educator. Through these Foundation Chair Lee Gaudette and President Ann T. Lisi. activities and more, the Foundation has built significant problem- solving capital, and will apply it to meet critical needs. 2014 Grants by Category (in millions) The board has embraced early childhood development as a top priority. What could be more 1 important than providing a healthy start to the youngest among us? The Foundation will do all it can to Arts & Culture $2.4 ensure that well before kindergarten, children gain the tools to succeed in school and life. Our strategy $1 Community & Environment will foster conditions that nurture families: access to healthy food and decent housing; integration of Education $.7 immigrants; and an informed citizenry that represents the community in all its diversity. Health & Human Services As a catalyst for connections, the Foundation is a force multiplier. This report shows you some of $1.7 these networks at work. We bring the power of more to these endeavors – more relationships, reach, knowledge, and assets. These resources include our endowment, our grantmaking engine, which grows larger as a collective fund than it would as a sum of individual accounts. 2014 Gifts by Fund Type (in millions) Our donors build the power of more through their generosity, vision and imagination. Thank you for $.3 joining us in experiencing the joys of philanthropy as, together, we do more for our community. $1.4 Donor Advised $.3 Designated Discretionary and Field of Interest $1.2 $3.0 Ann T. Lisi Lee Gaudette Agency President and CEO Chairman Scholarship 1 2014 Highlights ENDOWMENT REACHES ALL-TIME HIGH ALONG WITH GRANTMAKING The Foundation endowment grew to $140 million in August for the first time in our 40-year history and our granting capacity increased steadily. LEADERS TOP RECORDS WITH GIFTS The Foundation’s Directors & Corporators Fund reached $1 million in 2014 thanks to more than $80,000 in unrestricted gifts from corporators to support operations. NURTURING THE YOUNGEST AMONG US After conducting a scan of local conditions for poor and low-income children, the Foundation formed a strategy to help young children develop the tools to succeed in school and life, including grants to support summer learning and early education. The Foundation hosted Amy O’Leary of Strategies for Children as guest speaker at its 2014 annual meeting to promote the statewide Early Education for All campaign. The tenth annual Renaissance Award was YOUTH FOR COMMUNITY IMPROVEMENT (YCI) GRANTS TOTAL $25,000 2 presented to Grace Carmark (pictured here Engaging 15 students from eight local high schools, YCI awarded grants to eight nonprofits focused on with Ann Lisi), executive director of Central mental health, drug education, and job training for youth. Massachusetts Housing Alliance, who has been an advocate for ending homelessness in BOARD AND STAFF DEVELOPMENT KEY FOR NONPROFIT SUPPORT CENTER Worcester for over twenty years. Emphasizing essentials, Nonprofit Support Center programs and services addressed effective board development, fundraising, and financial management as well as professional development for a wider range of job titles and new approaches to raising individual and team performance. The Center sponsored the second edition of Valuing our Nonprofit Workforce, a compensation survey of Massachusetts and Rhode Island nonprofits published by Third Sector New England. MORE SCHOLARSHIPS THAN EVER More than 160 volunteers serving on 61 selection committees awarded 398 scholarships totaling $598,000, the highest number of awards and annual scholarship payout in the history of the Foundation, the largest community scholarship provider in Worcester County. ALUMNI NETWORK GIVES BACK Drawing 25 former scholarship recipients, the Alumni Network gained new members; held its first service activity and social events; and awarded its Class of Tomorrow Scholarship. 2 LEADERSHIP WORCESTER ENGAGES A NEW GENERATION The Foundation partnered with the Worcester Regional Chamber of Commerce to re-launch Leadership Worcester, a program to engage promising new professionals in Greater Worcester’s civic life. BUILDING A SINGLE SOURCE OF REGIONAL DATA A Foundation grant is helping the Central Massachusetts Regional Planning Commission create the Greater Worcester Data Commons, a digital platform providing one comprehensive source of regional data with tools to easily view information. TARGETING TRANSFER OF WEALTH The Foundation commissioned the Center for Rural Entrepreneurship to estimate the household net worth and “transfer of wealth opportunity” from 2010 to 2020 for residents of Worcester County. Findings estimate the 2010 net worth of households as $180 billion ($594,200 per household) and project a likely transfer of $19 billion from these households to the next generation. Applying just five percent of this wealth to local philanthropy would yield $950 million to advance community good – a compelling opportunity that the Foundation will pursue. 3 GATHERINGS AND OUTREACH The Foundation Forum convened on October 21 to hear a panel present Downtown Worcester: Yesterday, Today, and Tomorrow, an overview of a major redevelopment plan for the city. More than 30 donors attended the Foundation’s annual Investment Luncheon on November 19, which included a presentation by investment consultant Jeffrey R. Croteau, managing principal of Prime Buchholz & Associates. The Professional Advisors Network (PAN) annual Celebration of Philanthropy on June 19, a reception for PAN members and donors, featured a talk by philanthropy consultant Susan L. Axelrod. More than 1,500 community members, including Worcester Sharks mascot “Finz,” rallied to raise Two Westborough donor families jointly hosted a peer event to introduce the Foundation to their friends in excess of $136,000 for local nonprofits during and neighbors. a one-day giving marathon on May 6, Greater The Foundation’s new brochure, Giving for Impact, shows how donors partner with the Foundation to make Worcester GIVES. a lasting difference in the community. On August 6, a perfect summer evening, corporators and staff cheered as Mike Brockelman, Foundation president from 2002 to 2005, threw the first pitch at the season’s final home game of the Worcester Bravehearts. 3 Nurturing the Youngest
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