2016 Annual Summary A V I S I O N FO R O U R FU T U R E As the community’s expert in philanthropy, how do we appropriately use our reputation and our voice to affect change, build a culture of giving, and connect our community? How do we maintain our long term vision of an engaged, compassionate and prosperous community that is supported by folks that are as diverse and interesting as the place they call home? For thirty-three years, our board has asked these questions in order to build our strategic plans – plans that inform everything we do at our Foundation. Our newest three-year plan, launched in July, draws upon the work we’ve done since 2014 – encouraging people to embrace philanthropy through Midlands Gives, improving our region’s quality of life through our Connected Communities grant initiatives and providing a platform for neighbors to help neighbors with the One SC Relief Fund. Our new plan includes four strategic goals:
#1 Serve and Amaze our fundholders in order to increase the impact of their philanthropy and the impact of our Foundations grants. (Increase the dollars that are invested in our community.)
#2 Increase the Foundation’s capacity to meet the charitable giving needs of donors throughout the Midlands. (Ensure that everyone has a seat at the table to lift up their community through philanthropy.)
2016-2017 board of trustees
#3 Increase our effectiveness by benchmarking and adopting best practices in our industry. (Improve our ability to serve.)
#4 Engage 100% of our Trustees in actively supporting the work of the Foundation. (Increase our ability to serve.) We will achieve these goals by engaging the residents of our community - listening to their ideas and enlisting them in projects that enhance the place we call home. We will work on initiatives that increase the livability of our region by partnering with the Midlands Business Leadership Group to increase our competitiveness and by working with our region’s cities to build public spaces that positively affect our public lives. And, we will change the perception of what it means to be a philanthropist by working to ensure that everyone’s voice is heard.
Connecting our community. Building a culture of giving. Increasing the philanthropic pie. We are proud to be part of an organization that is focused on these areas and, proud to call our compassionate community home.
Bruce W. Hughes Board Chair
JoAnn M. Turnquist President & CEO
c o n s o l i d at e d f i n a n c i a l s tat e m e n t s As of June 30
2016
2015
assets
Cash and Cash Equivalents
4,192,980
4,514,395
Investments
86,605,192
83,840,631
Interest in Charitable Trusts and Life Insurance
23,413,914
22,935,029
60,894
82,788
114,272,980
111,372,843
Liabilities, Miscellaneous
95,327
106,826
Grants Payable
76,222
78,211
Funds Held for Agency Endowments
6,523,903
6,427,112
Funds Held for Supporting Organizations
3,981,557
4,681,688
10,677,009
11,293,837
85,095,029
82,053,062
Other Total Assets
$
liabilities
Total Liabilities
$
Van Anderson
Catherine Kennedy
William (Bill) Babcock
Lou Kennedy
Russell Bauknight
Charlene Keys*
18,500,942
18,025,944
J. Mac Bennett
David Kulbersh, MD
Total Net Assets
$
103,595,971
100,079,006
Cliff Bourke, Jr.
Daniel Lebish*
Total Liabilities and Net Assets
$
114,272,980
111,372,843
Julie Brenan
Dan Mann*
public support and revenue
Sharon Bryant
Cory Manning
Total Contributions and Special Events
18,170,042
16,357,721
William Cason
Linda O’Bryon
(340,111)
(714,169)
Rita Caughman
Donna Pullen
17,829,931
15,643,552
Total Investment Income
1,512,651
2,148,178
Holt Chetwood
Ben Rex
Less: Investment Income for Agency Endowments
(121,742)
(162,107)
Henry Clay
Beth Richardson
Net Investment Income (Includes Unrealized Losses)
1,390,909
1,986,071
Jill Davis
Terry K. Schmoyer Jr.*
Revenues from Charitable Trusts
1,311,191
(524,193)
Judith M. Davis Past Chair
Michael Schraibman *
Elizabeth Dinndorf
Michael Seezen*
Grants and Related Expenses
Susie Shannon
Less: Grants Disbursed from Agency Endowments
Stacy S. Stokes, CPA Secretary/Treasurer
Total Program Services
Sharon Earle, PhD Calvin Elam John Garrison
Roger Schrum
net assets
Unrestricted Temporarily Restricted
Less: Amounts Received for Agency Endowments Net Contributions
Other Income Total Support and Revenue
$
338,392
179,986
20,870,423
17,285,416
16,819,781
12,586,599
(288,725)
(598,859)
16,531,056
11,987,740
expenses
Investment Management
57,677
55,370
L. Marion Gressette III* Bhavna Vasudeva
Less: Expenses Allocated to Agency Endowments
(4,527)
(4,395)
Carroll Heyward Vice Chair
Net Investment Management
53,150
50,975
Ex-Officio Members
Grants Management and Fundraising
754,452
673,888
Rachel Hodges
Kay Kinard
Felicia Rhue Howard
Scott Macfarland
Bruce W. Hughes Chair
Christopher Worley
CCCF Annual Summary Newsletter 2016.indd 5
*term completed in June 2016
Trust Beneficiary Payments Total Grants and Expenses
$
Increase (Decrease) in Net Assets Net Assets, Beginning of Year Net Assets, End of Year
$
14,800
14,800
17,353,458
12,727,403
3,516,965
4,558,013
100,079,006
95,520,993
103,595,971
100,079,006
2/8/17 2:19 PM