Intersections 2 0 1 6 Ye ar End Re p ort
the community foundation of western north carolina
2016 Quick Facts
$198 million in grants in our
94 students awarded $407,900 in s
190 nonprofit funds
Map by Gary Palmer
$24.9 million in new gifts 2
38-year history
scholarships
9 regional
affiliates
$254 million in
assets under
management (6/30/16)
100%
of cfwnc
counties
received
grants
3082 grants 1050 funds to nonprofits 69 new funds
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B o a r d of Directors
Staff
Quick Facts.....................................................................2
A.C. Honeycutt, Jr. Chair
Sheryl Aikman Vice President, Development
From the Chair and President.....................................5
Stephanie Norris Kiser Vice-Chair
Philip Belcher Vice President, Programs
Taylor Hunt Fund.......................................................... 6
G. Edward Towson, II Treasurer
Elizabeth Brazas President
Sources Of Grantmaking Funds................................ 8
Laurence Weiss Secretary
Spencer Butler Donor Relations Officer
Maurean B. Adams
Diane Crisp Grants Manager
CONTENTS
Grants by Program Area............................................. 9 Year in Review...............................................................10
Caroline M. Avery James W. Baley
Focus Areas...................................................................14
Guadalupe Chavarria, II
Altapass Foundation....................................................16
Jennie Eblen
Services for Nonprofits............................................... 17
Michael Fields
Women’s Philanthropy ...............................................18
Howell A. Hammond
Reichman Scholarship Fund.....................................20 Services for Fundholders ...........................................21 Professional Advisor Ile Adamorola......................... 22 Services for Professional Advisors............................23 Affiliate Funds.............................................................24 Stewardship Of Assets...............................................26 Financials...................................................................... 27
William Clarke Ernest E. Ferguson Charles Frederick Susan Jenkins Melanie Johnson Lowell R. Pearlman Scott Shealy Anna S. (Candy) Shivers Chris Smith James W. Stickney, IV Sarah Sparboe Thornburg Stephen Watson
Becky Davis, CFRE Development Officer Naomi Davis Accounting Associate Virginia Dollar Senior Program Officer Angela Farnquist Development Administrative Assistant Lindsay Hearn Communications Director Graham Keever Chief Financial Officer Lezette Parks Scholarship Officer Jennifer Sadler Finance Administrative Assistant Tara Scholtz Senior Program Officer Beth Semadeni Office Manager Janet Sharp Staff Accountant Sally Weldon Director of Information Technology Marcia Whitney Regional Development Officer
View the Intersections video at www.cfwnc.org. 4
F r o m t h e C h a i r a n d Pr e s i d e n t Intersections Over the course of a year, The Community Foundation touches many lives across the region and beyond. As a funder of regional nonprofits, a philanthropic advisor, a manager of charitable assets, a scholarship provider and a resource for information about our field, our work is varied but focused. We follow our guiding principle of charitable intent and work with our fundholders to accomplish their philanthropic goals. Working together, we make a difference. By design, community foundations sit at the intersection of resources and needs. Through our knowledge of the region and our donors’ interests, we are able to make connections – in some cases matching programs with funds and people with projects. Our 38th year was a good one. Under the leadership of our Board, we reviewed the past five years, made course corrections and recommitted to our strategic direction. We facilitated $18.9 million in philanthropy – more than $15 million was designated or distributed on the advice on donors; nearly $4 million was awarded through competitive grant programs. In our role as a community foundation we are able to mobilize individual philanthropy, enabling those with abundant resources to give back through permanent endowments that serve needs now and in the future. This year, through our focus areas, we distributed $1,787,063. Strong partnerships with our fundholders and affiliates meant that more than $783,000 of the total was funded through co-investment. This fall, we received a handwritten note with a quarter taped to it. It was a donation from the five-yearold grandson of CFWNC fundholders. He asked that we use it to help those in need. He had seen his grandmother reviewing a list of grants and asked her about it. She used the opportunity to talk to him about how their family helps others through their CFWNC fund. She used the moment to teach him that no gift is too small and that everyone can do their part. The philanthropic impulse to help others starts early. There are thousands of people across Western North Carolina working to build a brighter future for everyone. The intersection of philanthropy and community is an inspiring spot. There is a role for all of us to play in addressing challenges and developing solutions. This is our time and our opportunity to give back. Thank you very much for supporting your community foundation. Gratefully,
Elizabeth Brazas President
A.C. Honeycutt, Jr. Board Chair 5
Taylor Hunt Fu 6
Honoring Taylor and Building Community When Taylor Hunt died in a whitewater paddling accident in Ecuador, his parents, Cat Potts and Marc Hunt, and brother Colin Hunt chose to remember him through a fund at CFWNC that supports the causes and activities that gave him joy during his lifetime. “Grief is hard. How do you reflect the joy and gifts of the person you lost? Opening a fund at The Community Foundation to honor Taylor was a tangible way to stay connected to each other, to rivers, to education and to Taylor,” said Hunt. “We were still in Ecuador working to bring Taylor home when people started contacting us about making donations,” added Potts. “Those calls got us thinking about how we could create a fund reflective of Taylor, how he lived his life and what was important to him. “Marc called The Community Foundation from Ecuador and looked at Colin and me as he hung up and said ‘it’s done’. It was on the web the next day, and we were able to work out the details later,” said Potts. “Opening the fund gave us a way to let others participate. It was a welcome vehicle for people who wanted a place to channel their grief and honor Taylor.” More than one hundred friends and community members generously joined Taylor’s family in building the fund to over $100,000 in the weeks that followed.
Fund
You can contribute to the Taylor Hunt Fund and support rivers and outdoor learning through the Donate Now tab at www.cfwnc.org.
The Taylor Hunt Fund for Rivers and Outdoor Learning supports river preservation, whitewater river recreation and outdoor learning. Taylor’s family plans to make grants from the fund annually and to spend it down over ten years. The first round of grants were awarded to French Broad River Academy, American Whitewater, Muddy Sneakers and the scholarship fund at Camp Mondamin. “For us, the fund is a powerful thing,” said Hunt. “It is a fulfilling way to memorialize Taylor and to remember his positivity. This fund would make him happy.”
Left: photo by Michael Oppenheim; above: Taylor Hunt leading an expedition on Black Balsam for French Broad River Academy. Photo courtesy of FBRA.
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Sources of Grantmaking Funds Field of Interest Scholarship Designated
1% 7%
Affiliate
11%
2%
52% Donor Advised Nonprofit
26% 1% Unrestricted
Between July 1, 2015, and June 30, 2016, in partnership with fundholders and affiliates, CFWNC awarded $18.9 million in grants and scholarships. Donor Advised Grants are made at the recommendation of the donors whose gifts established the funds or their named advisor. Fundholders often choose to co-invest with CFWNC to increase the effectiveness of their charitable dollars.
Nonprofit Funds provide cost-effective investment strategies and enhanced stewardship for nonprofit organizational assets.
Field of Interest Grants are awarded through our Focus Areas and other grant programs. Affiliate Funds support grantmaking in specific geographic areas. Three of CFWNC’s nine affiliate
funds – Black Mountain – Swannanoa Valley Endowment Fund, Cashiers Community Fund and Rutherford County Endowment – offer grant programs specifically for their communities; the six other affiliates partner more closely with the Foundation to support nonprofits through the People in Need grant program and other co-investment opportunities.
Designated Grants are made from funds created by a donor to support specific nonprofit organizations. Scholarships are awarded to help students achieve their educational goals. CFWNC administers 60 scholarship funds for students across our region. 8
Grants by Program Area Religion 9% Scholarships
Arts
11%
2%
People in Need
Animal Welfare
11% Community/
17%
Economic Vitality
8% Environment
1%
Health
Animal Welfare
24%
17% Education
Competitive N/A
Non-Competitive $105,775
TOTAL $105,775
Arts
$170,300
$1,889,985
$2,060,285
Community/Economic Vitality
$490,389
$1,657,453
$2,147,842
Environment
$612,527
$894,770
$1,507,297
Education
$577,725
$2,752,077
$3,329,802
Health
$272,554
$4,299,897
$4,572,451
$1,457,042
$1,786,080
$3,243,122
People in Need Scholarships
$356,000
Religion
N/A
TOTAL
$3,936,537
N/A
$356,000
$1,669,719
$1,669,719
$15,055,756
$18,992,293 9
Year in Revie Janirve Sudden and Urgent Needs (SUN) Grants
When the Janirve Foundation placed its remaining assets at CFWNC, its trustees asked that there be a source of funds and a grant program created for nonprofits experiencing an unexpected crisis that affects the organization’s ability to continue to serve. Applications to the SUN grant program are received and evaluated within three days. This year, CFWNC awarded $89,943 in SUN grants to ten WNC nonprofits. Volunteer dentists, hygienists and students provided free dental services to more than 650 people through a Missions of Mercy clinic hosted by Asheville Buncombe Community Christian Ministry. Photo courtesy of ABCCM.
Pigeon River Fund awarded $496,404 to support water quality in Buncombe, Haywood and Madison counties.
Food and Farming
A $30,000 Food and Farming grant to the Organic Growers School supported education programs for farmers. The Farm BeginningsÂŽ pilot training course, pictured above, served 24 farmers from 13 farms in Buncombe, Graham and Rutherford counties. Educational opportunities addressed barriers to success and targeted emerging and established farmers with a commercial focus. Photo courtesy of OGS.
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Early Food and Farming investment in Farm Pathways Partnership members Southern Appalachian Highlands Conservancy, Organic Growers School and WNC FarmLink helped leverage a 2016 USDA grant of $600,000 to cultivate programs for a new generation of farmers and producers.
ew The Transylvania Endowment awarded $63,826 in grants, which included $19,950 to Muddy Sneakers, a program that brings science education to life through outdoor learning expeditions for fifth-grade students.
Early Childhood Development
A $35,000 Early Childhood Development grant to the YWCA of Asheville and WNC developed a parent-led childcare partnership for Asheville-Buncombe Technical Community College. Student parents are offered twelve hours of free child care per week in exchange for working one four-hour shift per week. Parent volunteers are screened, receive basic child care training and are exposed to positive parenting and community resiliency techniques. The YWCA hopes to document and replicate the program. Photo courtesy of YWCA.
Photo by Capturing Western North Carolina Photography.
Learning Links
Blue Ridge School in Jackson County is small and geographically remote. Students lack the opportunity to learn to play band instruments. An $800 Learning Links grant purchased ukuleles for a sixth-grade ensemble group. The Learning Links program offers grants of up to $800 to public schools in 11 counties to provide “hands-on� creative learning projects. The grants are made possible by the Ben W. and Dixie Glenn Farthing Charitable Endowment Fund and the Cherokee County Schools Foundation Endowment Fund. Photo courtesy of Blue Ridge School.
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CFWNC Awarded $407,900 in Scholarships Mary Beth Thomas will receive $32,000 from CFWNC to support her higher education. She was awarded the Charles C. and Suzanne R. McKinney Scholarship Fund for Mitchell High School that provides $3,000 a year for four years, totaling $12,000. She was also a WNC Regionals finalist and was awarded the Clyde and Mildred Wright Endowment Scholarship providing $5,000 a year for four years. “Thanks to The Community Foundation, I can approach the world with a mind wide open to the endless possibilities before me,” she wrote. “I can chase my dreams without placing a financial burden on my family. I am grateful from the bottom of my heart.” Photo courtesy of Mary Beth Thomas.
People in Need grants received co-investment from 18 CFWNC funds, nine affiliate funds and two private foundations. Proactive Investment in Matched Savings
In May, the CFWNC Board approved grants totaling nearly $114,000 to support matched savings programs designed to keep low-income people from falling into poverty. Matched savings programs provide participants with a monetary incentive to save in tandem with budgeting and financial education.
Anthony Jimenez, OnTrack’s SECURE Program Coordinator with client Teres Brennan. Photo courtesy of OnTrack.
Blue Ridge Community Action, Mountain Projects and OnTrack Financial Education and Counseling are implementing partners. “The programs are another tool to help nonprofits working to alleviate poverty,” said Philip Belcher, Vice President of Programs. Asheville-based OnTrack used the money to start its SECURE program, Savings for Emergencies and Credit to Unlock Resilience and Empowerment. “A lack of emergency savings is a significant factor in trapping low-income people in a cycle of high-cost borrowing, poverty and dangerous debt,” said OnTrack Executive Director Celeste Collins. “We are energized by The Community Foundation’s bold investment in the SECURE pilot program, which has created fertile ground for innovation and boots-on-the-ground discovery.” 12
People in Need Grants total $1,082,360 “These grants represent the largest single grant cycle in our history,” said President Elizabeth Brazas. “Significant co-investment, totaling 41%, by our grant partners allows us to do more to support the nonprofits that help the region’s most vulnerable individuals and families.” The Appalachian Therapeutic Riding Center in Yancey County received $19,260 for a pilot job training project that provides work experience to developmentally disabled adults in Mitchell and Yancey counties. Photo courtesy of ATRC.
Family Justice Center Opens This year, Buncombe County launched the Family Justice Center (FJC), a facility that streamlines services for victims of domestic violence, sexual assault and child abuse. Having specialists cross-trained in all aspects of abuse centralized in one location allows victims to tell their story once and decreases costs. Studies have determined that FJCs reduce victim recantation, increase prosecution of offenders and ultimately reduce crime. For law enforcement, the change in outcomes is documented and important. Implementing partners include MAHEC, Helpmate, Pisgah Legal Services, Our VOICE, Mountain Child Advocacy Center, Mission Health and local law enforcement. Grants from the Women for Women giving circle and the People in Need Focus Area supported this effort. Photo courtesy of Family Justice Center.
A $17,500 Natural and Cultural Resources grant to the Black Mountain College Museum + Art Center supported the 2016 M.C. Richards Centennial Celebration honoring the 100th birthday of poet, potter, author, visual artist and educator M.C. Richards. Photo courtesy of BMCAC.
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food
2016 FOCUS AREA FUNDING $1.8 MILLION
natural & cultural resources
Photo courtesy of Carolina Public Press
FY 2016 $188,300
Donor Co-investment $59,909 (35%) Affiliate Co-investment $2,500 (1.5%)
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Grants • $172,800
Capacity Grants $15,500
Asheville Art Museum Association Black Mountain College Museum Flat Rock Playhouse + Arts Center Toe River Arts Council Cowee Pottery School Carolina Public Press Mainspring Conservation Trust NC International Folk Festival/Folkmoot Tryon Fine Arts Center Wilderness Society
d & farming
FY 2016 $150,000
Donor Co-investment $30,000 (20%)
Grants
Appalachian Sustainable Agriculture Project Southern Appalachian Highlands Conservancy Organic Growers School Southwestern Community College Yancey County Photo courtesy of ASAP
people in need FY 2016 $1,315,763 62 Grants totalling $1,082,360
Donor Co-investment $442,104 (41%) Affiliate Co-investment $163,792 (15%) Proactive Investment in Matched Savings $113,460
Photo courtesy of Burke County Circles.
Capacity Grants $30,000 Hinton Rural Life Center Homeward Bound of WNC Mountain BizWorks YWCA of Asheville and WNC
Janirve Sudden and Urgent Need Grants $89,943
early childhood development FY 2016 $133,000
Donor Co-investment $85,000 (64%)
Grants
YWCA of Asheville and WNC Blue Ridge Partnership for Children Southwestern Child Development Commission View the video at www.cfwnc.org.
Photo courtesy of YWCA
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Altapass Foundation
View the video at www.cfwnc.org
Saving the Good Stuff The Orchard at Altapass straddles the Blue Ridge Parkway on 277 acres in McDowell County. Annually about 60,000 people visit for the apples, monarch butterfly migration and live music.
walked by patriot militia to the Revolutionary War battle at Kings Mountain. Built by the Clinchfield Railroad in 1908, the Orchard sits on the Parkway between Mount Mitchell and Linville Falls.
In 1995, Kit Trubey bought the Orchard, now managed by the nonprofit Altapass Foundation, to save a slice of history from development. She, her brother Bill Carson and Bill’s wife Judy saw an ad in the neighboring county’s paper, the Mitchell News-Journal. “We contacted the owner who happened to walk into his office as our call came through,” said Bill, a retired rocket scientist.
In 2015, The Conservation Trust for North Carolina and the N.C. Clean Water Management Trust Fund purchased conservation easements from the owners to ensure its permanent preservation. With the funds from the easements, the Altapass Foundation opened a nonprofit endowment fund at CFWNC to provide for the sustainability of the Orchard and its mission.
Occupying a commanding location above two important watersheds – the North Toe River and the North Fork of the Catawba – the Orchard has been a crossroads of vital travel routes for centuries. The site contains a section of the Overmountain Victory National Historic Trail, the route
“I knew about The Community Foundation through my involvement with The Fund for Mitchell County,” said Bill. “We were greatly impressed with CFWNC’s experience with many nonprofits, and I have felt very comfortable with our working relationship. No matter what happens to us, this magnificent view and property will be enjoyed forever.”
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Services for Nonprofits Grant Funding
WNC Nonprofit Pathways
CFWNC awards grants throughout the year to nonprofit organizations, schools and public agencies. The majority of our grants are donor advised. Grants from discretionary funds and field of interest funds are made in alignment with our focus areas.
WNC Nonprofit Pathways is a funders’ collaborative formed in 2006 that supports the nonprofit sector through technical advice, consultancies and grants. Pathways also hosts the Duke Certificate Program in Nonprofit Management. The collaborative is built upon the belief that strong organizations make strong communities. CFWNC supports the efforts of nonprofits to be as efficient and effective as possible through Pathways participation.
Nonprofits are encouraged to subscribe to CFWNC enews and to follow CFWNC on Facebook and Twitter to stay informed. All grant programs are listed on our website. For additional information, contact Grants Manager Diane Crisp at 828-367-9904.
Nonprofit Funds The Community Foundation helps 129 regional nonprofits by offering them expertise in administration and management of their investments. These nonprofits can access institutional-caliber strategies in a cost-effective manner and complement their development efforts with CFWNC’s full range of charitable products such as gift annuities and remainder trusts. Nonprofits gain access to fiduciary oversight, diversity of investments, benchmarks and standards that an independent portfolio might not command on its own.
In addition to CFWNC, Pathways funders include the Cherokee Preservation Foundation, Mission Health and the United Way of Asheville and Buncombe County. Pathways is also supported by The Duke Endowment, Kate B. Reynolds Charitable Trust and the Blue Cross and Blue Shield of North Carolina Foundation. For more information, visit the Pathways website at www.nonprofitpathways.org. Left page: photo by Angelo Gianni; top left: photo by Lindsay Hearn; top middle: photo by Angelo Gianni; top right: photo by Mercedes Jelenik
For information about opening a nonprofit fund, contact Sheryl Aikman at 828-367-9900.
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“Never limit yourself because of others’ limited imagination; never limit others because of your own limited imagination.” – Mae Jemison
Women’s Philanthropy Photos courtesy of Pisgah Legal
Photo courtesy of Wheels4Hope
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The Women for Women giving circle makes thoughtful, significant grants to projects supporting women and girls across Western North Carolina. In ten years’ time, Women for Women has awarded more than $2.75 million. curriculum includes identification of abuse, safe ways to intervene, the development of healthy relationships and the prevention of violence.
2016 grants totaled $254,182 and supported the Facilitation of Safe Living Environments for Women and Girls, addressing issues of violence in Western North Carolina:
• Wheels4Hope was awarded $40,000 to repair donated cars and to connect them with economically-vulnerable females in the counties of Buncombe, Haywood, Henderson, Madison, McDowell, Polk, Rutherford, Transylvania and Yancey.
Join the Giving Circle Women for Women members make a tax-deductible contribution of $1,100 each year for at least three years; $1,000 of the gift is granted to deserving nonprofits and $100 supports administrative costs. Women for Women membership currently exceeds 290 women. It is considered one of the most successful and impactful giving circles in the Southeast.
Power of the Purse® photos by Michael Oppenheim
• Asheville Buncombe Community Christian Ministry Steadfast House was awarded $50,000 for a no-cost residential program providing survivors of domestic violence and sexual assault access to counseling, parenting classes, medical treatment, job training and financial literacy education. • Our VOICE was awarded $100,000 over two years to build a stronger infrastructure across five counties for women and girls who have been trafficked. Funding will support a new Human Trafficking Coordinator to develop a Rapid Response Team (RRT), identify and disseminate best practices, ensure coordination with Charlotte and 30th Judicial District Alliance RRTs and provide outreach and education. • REACH of Macon County was awarded $64,182 over two years for violence prevention efforts for 5th to 9th grade students in Macon and Jackson counties. The
Visit www.cfwnc.org for more information or call 828-367-9919.
2016 Power of the Purse® Astronaut, physician and entrepreneur Mae Jemison was the featured speaker for the sold-out 12th Annual Power of the Purse®. Jemison, the first female African American astronaut, took the audience on a journey through space and time while reminding the crowd that we are all travelers and the planet is our ship. The event included the announcement of grants made by the Women for Women giving circle and raised more than $100,000 for The Women’s Fund, bringing the fund balance to more than $1.2 million.
The Women’s Fund The Women’s Fund is a permanent endowment that continues to grow through gifts of all sizes. Its spendable income is distributed through the Women for Women grant program. This year, the fund added $33,000 to the grant pool for Women for Women grantmaking. 19
Photos by Angelo Gianni
Andrew Reichman Pa y i n g i t Fo r w a r d w i t h S c h o l a r s h i p s f o r S t u d e n t s Andrew Reichman’s parents were immigrants who moved to Andrews to start an egg farm after World War II. The family business succeeded, and Reichman and his daughters have opened a scholarship fund to support the community that enabled their business to grow. “My parents valued education as a way to get ahead,” he explained. “This scholarship is to honor my parents and my sister and will support a graduate of Andrews High School, partially based on financial need. Funds can be used to attend any school in the UNC System. I hope that the students get a full ride to college and will make the most of it.” “We are a small, rural area, and we don’t have big industry,” he said. “This effort is also a ‘thank you’ to the people of Andrews. 20
They are the ones who have helped us and given us the ability to invest in the scholarship. This is our way of giving back a little bit.” “I placed the money with The Community Foundation because they have ties to the community. They are interested in Western North Carolina and are here to benefit this region and to help people. That’s what we want to do in a small way.” “Forty years from now, people will not know who the Reichmans are and that’s fine. They will know that there is a scholarship for students of Andrews High School. That’s what is important.” For information on opening a fund, visit www.cfwnc.org. View the video at www.cfwnc.org.
Services for Fundholders The Community Foundation works with generous people during their lifetimes and stewards charitable legacies into the future. Creative solutions for planning and compelling opportunities for impact are paired with an array of flexible, tax-advantaged giving vehicles, custom fit for your philanthropy. Becoming a Fundholder
Giving and Grants
A conversation with CFWNC begins with your goals and passions. You can focus on an array of needs or a specific issue or organization, all with the level of involvement you choose and according to your needs and timing.
When you want to support your community, CFWNC is here to help. Donor Central provides quick and convenient online access for grant recommendations and fund monitoring.
What to Give
Advice and Opportunity
CFWNC can turn even the most complex assets into a charitable gift. You can give cash, appreciated property, retirement accounts, life insurance, real estate or private
CFWNC’s staff engages daily with nonprofits and community leaders. Our commitment and regional knowledge make giving simple and rewarding. Grant
foundation assets. Your professional advisors are partners in this process, ensuring coordination across your charitable, financial and estate planning.
partners have access to emerging programs and can review funding requests for the areas they are most passionate about. Charitable co-investing with CFWNC creates meaningful impact.
Sound Investment While each fund is accounted for separately, the Foundation’s assets are pooled for investment, yielding significant economies of scale. CFWNC has a sound investment policy and the discipline to adhere to it, with a focus on maintaining and increasing the value of charitable assets.
Estate Planning As you plan your legacy, we can work with you and your advisors on sophisticated and tax-advantaged strategies. There are charitable giving strategies to help take care of current income needs, provide for heirs or ease estate administration.
Contact us to see how we can help you achieve your charitable goals. 21
In 2014, Ile Adaramola started her Asheville law practice focused on estate planning, probate administration and real estate. She connects her clients with partnerships that are beneficial to them, including referring them to CFWNC when appropriate. “I initially learned about The Community Foundation through board service on the literacy nonprofit Read 2 Succeed,” said Adaramola. “I trust the staff’s knowledge and experience. CFWNC can help streamline what often feels like a complicated process.” “I enjoy working with my clients who want to do something philanthropic,” she said. “It is an honor to help people think through their legacy and the role that philanthropy can play.” “I went to law school on a full scholarship,” she continued. “I was able to do that because someone thought to create an endowment. I am an example of how giving back can impact other people’s lives.”
Ile Adaromola “The continuing education opportunities that the Foundation offers are phenomenal,” she said. “The Foundation is a wonderful resource. I like the fact that they bring experts to our region and provide opportunities to connect with other professionals.”
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Services for Professional Advisors When your clients’ needs involve charitable giving, The Community Foundation is here to help. CFWNC develops personalized solutions, confidentially and without a fee. The Professional Advisory Committee links the Foundation with professional advisors across the region. The members are recognized as leading and trusted advisors. The committee includes:
Photos by Michael Oppenheim
CFWNC can help you integrate your clients’ business, personal and financial decisions and tax-planning needs with a personalized charitable plan that reflects their giving priorities. We develop personalized solutions confidentially and without a fee. CFWNC offers a range of funds and charitable products with immediate tax benefits and can help your clients build a legacy for future giving. We can connect your clients with innovative nonprofits, strategic giving opportunities and other generous people who share their interests.
Sarah Sparboe Thornburg, McGuire, Wood & Bissette, P.A., Chairperson Joel Adams, Raymond James Financial Services L. Daniel Akers, Jr., Altavista Wealth Management, Inc. Nicki Applefield, Patla, Straus, Robinson & Moore, P.A. Andrew D. Atherton, McGuire, Wood & Bissette, P.A. Mike Begley, Begley Law Firm, P.A. Larry Casper, Oppenheimer & Co., Inc. Cindy D. Causby, CTFA, AEP®, C&C Senior Services Vincent D. Childress, Jr., Roberts & Stevens, P.A. R. Walton Davis, R. Walton Davis, III, P.A. Betty Doll, Doll & Associates, Long Term Care Insurance Services Larry B. Harris, CPA, CFP, Burlingham & Harris, P.A. John Igharas, Colton, Groome & Company Melanie Johnson, Dixon Hughes Goodman, LLP Harris Livingstain, McGuire, Wood & Bissette, P.A. Shon Norris, Gould Killian CPA Group, P.A. Kale Olson, Oppenheimer & Co., Inc. Harli L. Palme, Parsec Financial Management, Inc. James Plaster, Altamont Capital Management Susan Taylor Rash, Adams Hendon Carson Crow & Saenger, P.A. Townsend Tanner, Wells Fargo Advisors LLC Carter Webb, Strauss & Associates, P.A.
Our services can help you deepen client relationships, expand your role and connect family members over generations. CFWNC offers an annual professional seminar with continuing education credit, informal “lunch and learns” and an e-newsletter to help keep you informed and connected. 23
Affiliates 24
Clockwise from top left: photo courtesy of Haywood Arts Regional Theatre; Mitchell County Shepherd’s Staff, photo by Mercedes Jelenik; photo courtesy of Yancey County’s Graham Children’s Health Services of Toe River; photo courtesy of Cashiers-Highlands Humane Society; photo courtesy of Camp Spring Creek; photo courtesy of Bounty & Soul; photo courtesy of The Bascom
For nearly a quarter of a century, CFWNC’s nine regional affiliates have been mapping a philanthropic future for the region. Each affiliate grows its fund through gifts from its generous community. As funds grow, so does the ability to meet the greatest needs. Black Mountain – Swannanoa Valley Endowment Fund Established in 1999; June 30 assets* approximately $2.1 million
Advisory Board Members: Sandra Abromitis, Mike Begley, Gladys Brooks, John Buckner, Julia A. Capps, John Corkran, Chip Craig, Lynn Deese, Barbara Griffin, Carol Groben, Roger Hibbard (Chair), Gretchen Naff, Scott Roy, Joe Standaert and Lori Turley *The Board also makes grants from the Buckner Family Endowment Fund, the Helen S. and Jerry M. Newbold, Jr. Endowment Fund and the Forbes Fund for Black Mountain-Swannanoa Valley.
Cashiers Community Fund
Established in 1992; June 30 assets* exceeded $3 million Advisory Board Members: Lisa Bates, Jeanne Builder, Patrick Carlton, Charles W. Coker, T. Wayne Davis, Robert Dews, Louis M. Freeman, Shannon Hargrove, J. Taliafero Lane, Jochen Lucke, Sam Lupas, Will Madden, Becky McKee, Edward G. Michaels III, Sarah Nelson, Harry Phillips, Jr., Brenda Pollak, Toby Summerour, Tommy A. Valenta (Chair) and Dennis Winchester *The Board also makes grants from the Lyn K. Holloway Memorial Fund.
The Fund for Haywood County Established in 1994; June 30 assets* over $925,000 Advisory Board Members: Nyda BittmannNeville, Neal Ensley, Parrish Ezell, Dionne Ghaussy, George D. Ivey (Chair), John Keith, Bruce Kingshill, Christine Mallette, Scott McLeod, Steve McNeil, Jeremy Phillips, Bennie Sharpton, Don Stanton, David Sutton and Sarah Wenzel *The Board also makes grants from the J. Aaron and Adora H. Prevost Endowment Fund and the Mib and Phil Medford Endowment Fund.
To learn more about our affiliates, visit www.cfwnc.org. Highlands Community Fund
Established in 1996; June 30 assets* nearly $1.2 million Advisory Board Members: Katherine Bowman, Laney Capron, Caroline Cook, Gayle Cummings, Amanda Gregory, John Hopkins, Ann Klamon, Jim Landon, Jeff Nixon, Sid Nurkin (Chair), Diane Riddle, Stan Sharp, Jim Stokes, Cindy Trevathan and Jeff Weller *The Board also makes grants from the Mildred Miller Fort Charitable Fund.
The McDowell Endowment Established in 1995; June 30 assets* exceeded $900,000 Advisory Board Members: Ellen “Bunnie” Salsbury Burgin, George Simeon Butler, Rebecca B. Cross, Simeon R. Cross, Laura Dover, Amy England, W. Hill Evans, Nancy Hunter, Michael Lavender, Ray McKesson, Rob Noyes, Sharon Lee Parker and Joy Shuford (Chair) *The Board also makes grants from the Margaret Westmoreland Gibson Memorial Fund, Greenlee Family Fund, A.C. Hogan Family Fund and the Daniel I. and Joy Q. Shuford Fund.
The Fund for Mitchell County Established in 1999; June 30 assets nearly $350,000 Advisory Board Members: Daniel Barron, Anne Castro, Jane Crowe (Chair), A. Christopher Day, Janie DeVos, Sammie Ellis, Christina Gardner, Rhonda Gunter, Nick Joerling, Delphia Lamberson, Susan Larson, Sue Ledford, Cindy Lindsey, Chris McCurry, Starli McDowell, Yolanda Sommer and Teaky Tollison
Rutherford County Endowment
Established in 1996; June 30 assets exceeded $1.7 million Advisory Board Members: Jane A. Bell, John Condrey, Lucille Dalton, Forest Edwards, Nick Elliott, Mike Gavin, Katy Hunt, Keven McCammon, Karen Moore (Chair), Juanita Newton, Janice Paris, Michael S. Tanner, Nancy Tanner, Judy Toney and Diane Warner
Transylvania Endowment Established in 1998; June 30 assets* nearly $1.2 million Advisory Board Members: Don Bieger, Sara Champion (Co-Chair), John Goins, Don Guffey, W. Andrew Harvill, Char Holbrook, Beth Holimon, Patti Jerome, Maurice Jones, Scott Latell (Co-Chair), Amye McCallie, Layne Racht, Margaret Riecke, John R. Rowe, Jr., Robin Saul, Jerry Stone and Judy Welch *The Board also makes grants from the Richard G. Adamson Memorial Fund, Duncan-Bicknell Endowment Fund, Burlingame Charitable Fund, Lake Toxaway Charities Endowment Fund, My Brother’s Keeper Fund, Bobby Orr Memorial Fund for Transylvania County Sherriff’s Department, Karen Wilde Memorial Fund for Brevard Police Department and the Transylvania Directors’ Fund.
The Yancey Fund Established in 1998; June 30 assets* exceeded $1.8 million Advisory Board Members: Patricia Bennett, Mel Chin, Paul “Bubba” Crutchfield, William O. Cullom (Chair), Elliott Grosh, Howell Hammond, Richard Kennedy, David McIntosh, Jim McQueen, Tom Oreck, Ron Powell, Wanda Proffitt, David Strawn, Carol Wilson, Carol Woodard, Fred Young and Sam Young *The Board also makes grants from the BaileyHilliard Fund. 25
Stewardship of Assets
The stewardship of CFWNC’s assets is a critical responsibility of the Board of Directors. The Investment Committee, comprised of local professionals with investment and financial expertise, has responsibility for all investment activities including setting policy, asset allocation and performance review. A consulting firm supports our work through analytical studies, manager searches and compilation of performance data. Multiple investment managers apply their knowledge and experience in portfolio management to the Foundation’s process. CFWNC has a sustained record of prudent investment management. We offer donors and nonprofits access to institutional investment strategies and management typically available only to larger investors.
Annualized Investment Returns through 6/30/16:
Fundholders can recommend an investment option from multiple portfolios under the oversight of the Investment Committee. The primary investment pool utilized by our donors is a broadly-diversified portfolio that provides strategic allocations to equities, fixed income, alternative investments and real assets. The Foundation also maintains local investment management relationships with the following firms: Altamont Capital Management Altavista Wealth Management Boys Arnold & Company Colton Groome & Company Merrill Lynch Parsec Financial Management Raymond James & Company UBS Wealth Management
Asset Allocation as of 6/30/16:
CFWNC Benchmark* Domestic Equity 30.8% One Year -2.3% 1.3% International Equity 17.2% Three Years 4.6% 6.3% Emerging Markets Equity 3.9% Five Years 5.0% 6.1% Alternative Investments 20.7% *The benchmark utilized is 60% MSCI World, 40% Barclays Real Assets 6.8% Aggregate Index. Investment returns are reported net of Fixed Income 18.2% investment expenses. Cash Equivalents 2.4% 100.0% Note: Standards of financial accounting for nonprofit organizations affect the reporting of charitable remainder trusts and certain endowment funds managed by CFWNC for other nonprofit organizations. On the Statement of Activities, among the categories of revenue and expense impacted by these reporting requirements are Contributions and Program Services, which includes grant distributions. References to Contributions and Grants in other parts of this annual report reflect total contributions received and total grants disbursed.
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Statement Of Financial Position Assets
Cash & cash equivalents Prepaid expenses Accounts receivable Note receivable Promises to give, net Investments Temporary Investments Property and equipment, net Real Estate Investments, permanently restricted
Total assets
2016 2015 3,890,036 27,424 151,693 1,000,000 41,400 124,016,519 - 2,459,340 570,186 121,790,958
253,947,556
10,144,068 11,069 2,828,655 1,000,000 111,900 119,153,019 8,107,278 2,537,563 713,186 115,504,943
260,111,681
Liabilities and Net Assets Liabilities
Grants and scholarships payable Accounts payable and accrued liabilities Long-term debt Liabilities under split-interest agreements Funds held as agency endowments
Total liabilities
345,157 5,601 1,285,902 4,293,724 53,166,675
59,097,059
Net assets
Unrestricted (deficit) Temporarily restricted Permanently restricted
Total net assets Total liabilities and net assets
1,693,986 71,365,553 121,790,958
350,200 3,766 1,358,000 4,825,479 56,524,923
63,062,368 2,552,849 78,991,521 115,504,943
194,850,497 197,049,313 253,947,556 260,111,681
Statement Of Activities
2016 Revenues and other support:
Contributions Investment Income Realized and unrealized losses - net Change in value of split-interest agreements Management fee income Grant income Other income
Total revenues and other support
18,429,268 2,231,938 (5,841,105) (541,612) 382,958 53,673 227,650
14,942,770
Expenses
Grants and program services Supporting services
15,706,312 1,435,274
2015 32,516,786 1,946,792 710,530 (156,083) 415,144 143,463 259,015
35,835,647 14,830,744 1,425,980
Total Expenses 17,141,586 16,256,724 Change in net assets (2,198,816) 19,578,923 Net assets, beginning of year 197,049,313 Net assets, end of year 194,850,497
177,470,390 197,049,313 27
the community foundation of western north carolina people place prosperity
cfwnc
4 Vanderbilt Park Drive, Suite 300 • Asheville NC 28803 • 828-254-4960 • www.cfwnc.org
Cover photos, clockwise from left: LEAF Community Arts opened an endowment fund at CFWNC to support LEAF Schools & Streets programs such as Burton Street One Mic Studio at Burton Street Community Center, photo courtesy of LEAF. The Fund for Haywood County awarded $3,783 to the Forest Restoration Alliance to restore hemlocks to their native environment and to the nursery industry in Western North Carolina, photo courtesy of the Forest Restoration Alliance. The YWCA of Asheville and Buncombe County received a $35,000 Early Childhood Development grant to support an innovative childcare cooperative organized in partnership with Asheville-Buncombe Technical Community College, photo courtesy of the YWCA.
Mountain Housing Opportunities received $150,000 over three years from the Melvin R. Lane Fund to double affordable housing production and services, photo courtesy of MHO. Children from five rural counties participated in the Asheville Art Museum’s Literacy Through Art program, which received a $35,000 Natural and Cultural Resources focus area grant, photo courtesy of the Asheville Art Museum. Muddy Sneakers received $19,950 from the Transylvania Endowment for a program that provides outdoor learning expeditions for fifth-grade students in Transylvania County, photo courtesy of Capturing WNC Photography. Cat Potts and Marc Hunt are honoring their son Taylor Hunt through a CFWNC memorial fund, photo by Michael Oppenheim.
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