Annual Report 2018

T H E O F

C O M M U N I T Y W E S T E R N

F O U N D A T I O N

N O R T H

CFWNC

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C A R O L I N A

YEARS

Y E A R

E N D

R E P O R T

CFWNC is part of a community of givers. People give financial resources, time or expertise, and sometimes all three. Over our 40-year history, many people have played a role. Pictured are a few who have dedicated their time and selves to the growth and sustainability of CFWNC. We are enormously grateful for the trust and support from thousands of people and organizations over the past 40 years.

Naomi Davis Finance and Human Resources Officer CFWNC Employee since 1997

Pat Smith Accountant 1984 – 1990 President 1990 - 2009 Women for Women Founding Member Fundholder

Don Cooper Board Member 1999 – 2008 Fundholder

Lisbeth Cooper Women for Women Founding Member Fundholder

Phil Carson Board Member 1991 – 2000 Board Chair 1995 - 2000 Fundholder

Ray Spells Board Member 1991 – 2000 WNC Real Estate Foundation Board Member since 2012

Elizabeth Brazas President since 2009 Charlie Cummings Board Member 1983 - 1991 Fundholder

Eleanor Owen Board Member 1998 – 2007 Board Chair 2004 – 2007 Women for Women Founding Member Fundholder

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Laura Webb Board Member 2002 - 2011 Women for Women Founding Member Fundholder

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Contents

Dear Friends,

Forty Years ...............................2

Ai

Board of Directors.................. 4

community foundation is a concrete expression of belief in the future, the power of connection and the importance of caring for others. As we mark four decades of service, we thank you for your unwavering support.

Chair & President Letter.......5 Food & Farming.......................6

Sarah Sparboe Thornburg

J. Chris Smith

William Clarke

People in Need.........................8 Women’s Philanthropy.........10 Growth 1978 – 2018............ 12

In these pages, we highlight people and organizations who helped to write our story.

We share what we accomplished this fiscal year and put it in the context of our 40-year history. You will see some familiar faces – people in it for the long haul.

2018 Grants & Sources of Funds...................................13 Year in Review............... 14 – 17 40th Celebrations.................18

Stephen Watson

Natural & Cultural Resources............................... 22

Early Childhood Development........................ 26

Maurean B. Adams

2018 Board of Directors

McClinton Family Profile & Services for Fundholders.....20

Pisgah Legal Services Profile.....................................24

Stephanie Norris Kiser

G. Edward Towson, II

Charles Frederick

Natalie N. Bailey

Nonprofit Partners & Services for Nonprofits...28 Affiliate Funds.......................30 Stewardship of Assets.......... 32 2018 Financials..................... 33 Services for Advisors............34

Connie M. Haire

A.C. Honeycutt, Jr.

Michael Fields

CHAIR &

Staff & Credits...................... 35

Not Pictured: Jean McLaughlin Joanne Badr Morgan Lowell R. Pearlman 4 Shealy Scott

FROM THE

Guadalupe Chavarria II

Susan Jenkins

Caroline M. Avery

PRESIDENT

One thing that has remained consistent in our 40 years of service is that good and generous people care about where they live and the people who live around them. They want to create a better future for everyone, and that plays out in their planning and giving. In a way, CFWNC is a repository for the region’s greatest hopes and most optimistic champions.

Western North Carolina has extraordinary resources and stubborn challenges. By building permanent charitable assets and working together, we commit to a shared future.

Thank you for being part of this community of givers and doers and for believing in the power of philanthropy.

With gratitude,

Elizabeth Brazas President

Stephanie Norris Kiser Board Chair 5

2011 – 2018 Grants $1,138,110 2018 Grants $165,000 Co-investment $78,295 (47%)

Food &

ASAP Eliada Homes, Inc. Isothermal Planning and Development Commission MANNA FoodBank Organic Growers School CFWNC’s work in Food and Farming has benefitted from a network of strong, partnering organizations who collaborate effectively and support joint efforts. From protecting farmland and training beginning farmers to assisting with the development of food hubs and aggregation centers, Food and Farming grants support nonprofits working toward a sustainable regional food system, increasing economic opportunities for farmers and addressing hunger and nutrition in 18 counties.

Hannah Randall Chief Executive Officer MANNA FoodBank

From the beginning, Food and Farming nonprofits valued partnerships, rallied to common goals and launched complementary projects.

As an example, Food and Farming work in Yancey County led to the private purchase of historic Bowditch Bottoms Farms by fundholders Ken and Ida Brown in 2015. The prime farmland will be permanently protected through a SAHC conservation easement and has been leased to TRACTOR free of charge for ten years. Today, TRACTOR serves more than three dozen farmers in Avery, Buncombe, Burke, Madison, Mitchell and Yancey counties through training and aggregation.

Nicole DelCogliano Farmer Programs Coordinator Organic Growers School

Michael Graf Operations Manager TRACTOR Food and Farms

Molly Nicholie Program Director Appalachian Sustainable Agriculture Project (ASAP)

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Carl Silverstein Executive Director Southern Appalachian Highlands Conservancy (SAHC)

Photo location: SAHC’s Community Farm in Alexander, NC

Other signature achievements have included increased capacity for MANNA’s network of food providers, a major expansion of ASAP’s Appalachian Grown regional food branding and certification program, the development and staffing of SAHC’s Incubator Farm, a regionally-informed farmer training curriculum tailored to maximize economic possibilities for WNC farmers created by the Organic Growers School, foodshed plans for Yancey and McDowell counties and many more outstanding projects.

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People in Need 2011-2018 $7,404,715 2018 Grants $1,403,662 Co-investment $605,956 (43%) CFWNC’s work in People in Need would not be possible without the network of nonprofits that serve vulnerable people across WNC’s 18 counties. The Foundation’s earliest discretionary grants were made in 1982 to organizations including Asheville Buncombe Community Christian Ministry, the Buncombe County Council on Aging, Big Brothers Big Sisters of WNC and the YMI Cultural Center, among others.

Cindy Visnich Weeks

J Hackett

Amanda Hunsucker

MHO’s mission is to build and improve affordable and workforce housing in Buncombe, Haywood, Henderson, Madison and Transylvania counties. CFWNC has been supporting MHO since 1995. MHO serves more than 700 households annually through emergency home repair, affordable homeownership construction and lending, community rental investments and neighborhood revitalization. Since 1988, MHO has built more than 1,000 affordable apartments in Asheville and Mars Hill. MHO’s SelfHelp program has built 50 homes covering neighborhoods in rural areas around Asheville and Buncombe County including Leicester, Black Mountain, Swannanoa and Weaverville.

GO’s mission is to train, support and connect people from marginalized communities to sustainable employment pathways. Since 2010, CFWNC has partnered with GO through multiple grant programs including People in Need, Capacity and Asheville Merchants Fund. Last year, GO received funding to address barriers to employment. As a result, 90 students received training in construction and culinary arts.

Sixty-four students also earned professional certifications.

Grant funding was also awarded to Givens Gerber Park Café, serving seniors and providing career training and support for kitchen employees identified through GO. The program benefits senior residents and connects GO participants from low-wealth neighborhoods to sustained employment with a living wage.

CFWNC has awarded grants to OnTrack Financial Education and Counseling for over 23 years. Significant partnerships have included financial and foreclosure counseling supported by Recession Response Fund grants and a Women’s Financial Empowerment Center funded by Women for Women, in addition to numerous People in Need grants supporting financial literacy and money and debt management. Since 2016, CFWNC has invested more than $250,000 in OnTrack’s SECURE program that provides financial literacy training and a three-to-one match to help low-income people establish and maintain emergency savings. The matched savings grants are a proactive investment in asset building specifically intended to help people exit the cycle of poverty. Matched savings accounts are intended to enhance economic stability for low-income households and increase financial literacy. Money saved and matched can be used for housing, home repair, post-secondary education, transportation, debt reduction and more.

Director of Community Investments Mountain Housing Opportunities (MHO)

www.mtnhousing.org

Executive Director Green Opportunities (GO)

www.greenopportunities.org

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Matched Savings Coordinator OnTrack Financial Education and Counseling

www.ontrackwnc.org

From CFWNC’s very beginning, a core value has been to support human service nonprofits with the goal of ensuring that everyone has access to resources and services to meet their basic needs. These efforts were strengthened in 2011 when the Janirve Foundation closed its doors and left $10 million to CFWNC to continue its legacy.

Since 2012, CFWNC has also offered Janirve Sudden and Urgent Needs (SUN) grants of up to $10,000 to assist human service organizations experiencing an unforeseen crisis that impedes their ability to continue their work.

Small but crucial, SUN grants have provided emergency funding totaling $525,557 through 79 awards.

In recent years, funding of more than $1 million has been distributed through the People in Need grant program annually. That number represents dozens of nonprofits serving thousands of clients. We highlight three of those organizations here.

Complete grant list at www.cfwnc.org.

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Women’s Philanthropy Julia Akers Women for Women Steering Committee Chair

In May, at the 14th Annual Power of the Purse® luncheon, the Women for Women giving circle awarded $450,000 to the Buncombe Partners in Prevention project; cooperating agencies include Helpmate, Mountain Child Advocacy Center, Our VOICE and Pisgah Legal Services. This is the largest award from the giving circle and the largest single competitive grant approved by CFWNC. Since 2006, the Women for Women giving circle has distributed nearly $3.5 million to nonprofits supporting WNC women and girls.

Barbara Norman Women for Women Grants Committee Chair

Geoff Sidoli Executive Director Mountain Child Advocacy Center

Partners in Prevention has launched a communitywide, three-year plan to address domestic abuse, sexual violence and child maltreatment by providing resources to treat violence as a public health issue. Beginning with individuals and expanding to service providers, the broader community, coalitions, networks, organizational practices, policies and laws, the plan aims to change social norms on a community level and put in place a permanent system that will work toward the long-term goal of stopping violence before it happens.

G E T I N V O LV E D Join the Giving Circle - members make a tax-deductible contribution of $1,100 each year for at least three years; $1,000 is granted out and $100 supports administrative costs. Membership currently exceeds 280 women.

Julia Horrocks Managing Attorney Pisgah Legal Services

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Angelica Wind Executive Director Our VOICE

April Burgess-Johnson Executive Director Helpmate

Give to The Women’s Fund – endowment proceeds are distributed through the Women for Women grant program. This year, $44,310 was added to grant funds.

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Religion 8%

13.3%

CFWNC

2% 1.2%

10.4%

YEARS

2.2%

2%

8% 2%

Scholarships 2%

13%

Health 12%

20%

Education 15%

12% Environment 11%

58.4%

12.5%

People in Need 20%

Community/Economic Vitality 17%

Religion 8%

12%

11% 12.5%

Scholarships 2%

Arts 13% Animal Welfare 2%

People in Need 20%

Founded

1978

Assets at 6/30/2018

$320 million

Operating Costs

less than 1%

Total Grants

$234 million

Area Served

18 counties of WNC

2018 Contributions

$41 million (year ended 6/30/18)

2018 Grants

$18.1 million

2018 Funds

1,100 Total/90 New Funds

2018 Sources of Grantmaking Funds

Health 12% Education 15% Environment 11% Community/Economic Vitality 17% Arts 13%

Animal Welfare 2%

Grants, Scholarships and Distributions: 1982-2018

Asset Growth: 1978-2018 $320 million

$18.1 million

Between July 1, 2017, and June 30, 2018, in partnership with fundholders, donors and affiliates, CFWNC awarded more than $18 million in grants and scholarships across Western North Carolina and beyond.

Donor Advised Grants are recommended by the

donors who established the funds or the named advisor.

Fundholders often choose to partner with CFWNC to fund grants aligned with their interests.

Nonprofit Funds provide cost-effective

investment strategies and enhanced stewardship for nonprofit organizational assets.

Affiliate Funds support grantmaking in specific

$11.8 million

geographic areas.

Designated Grants are made from funds created

$164 million

by a donor to support a specific nonprofit organization.

Field of Interest Grants are awarded through Focus Areas and other grant programs.

$50 million $3 million $141,507 1979 12

1988

1998

Scholarships are awarded to help students achieve

$2.7 million $654,184 $86,591 2008

2018

1982

1988

1998

their educational goals. CFWNC administers 45 scholarship funds for students across the region.

Unrestricted Funds are awarded through CFWNC

2008

2018

2018 Grants

by Program Area

grant programs and initiatives.

Animal Welfare Arts Community/Economic Vitality Environment Education Health People in Need Scholarships Religion 13

F

Yearin eview R

rom the early 1900s, George Cecil and his family have been an integral part of the WNC community.

The family grants continued totaling their $63,000 to charitable nonprofits legacy by supporting opening Grants Enka – Candler CFWNC awarded from communities. funds supported biltmore lake The Ramble through home and ramble Charitable Fund funds sales at Biltmore awarded seven Lake and Ramble grants totaling $50,000 Biltmore Forest. Biltmore to nonprofits working Farms seeded the funds, which continue to grow. Local in education, economic development, health care and residents serve as advisory board members to encourage community development in designated South Asheville community involvement. neighborhoods.

In 2018, Biltmore Lake Charitable Fund awarded eight

Verner Center for Early Learning was awarded $7,500 from the Biltmore Lake Charitable Fund to provide high-quality, comprehensive early childhood education to preschool children. Photo courtesy of Verner.

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People in Need grants of up to $20,000 totaling $1,158,662 were awarded throughout the region, touching every county CFWNC serves and representing investment in the region by 22 fundholders, 8 affiliate funds and 3 private foundations that provided $535,956 in co-investment to help the region’s most vulnerable individuals and families.

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Water quality grants

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he Pigeon River Fund awarded $564,015 in 2018 to environmental groups working to improve surface water quality, enhance fish and wildlife habitats, expand public use and access to waterways and increase water quality awareness in Buncombe, Haywood and Madison counties.

CFWNC’s Professional Advisory Committee voted to award a $5,000 donor advised grant to Mountain Housing Opportunities. This first grant awarded by the Committee purchased supplies to repair flood and

rain-damaged homes.

Gifts to CFWNC Exceeded $41 Million /Total Funds Number 1,100 Brackett Town Farms

Blue Horizons project

received $2,500 from The McDowell Endowment to purchase portable toilets and handwashing stations for the educational petting farm that provides therapeutic support for those with special needs, trauma or grief.

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Lake Junaluska Trash Clean Up, photo courtesy of Haywood Waterways Association.

Since 1996, the Fund has distributed nearly $7 million in grants. Haywood Waterways Association’s (HWA) mission is to protect and improve water quality in Haywood County’s rivers, streams and lakes in the Pigeon River Watershed. In 2018, HWA received three grants totalling $146,570 for public education, volunteer engagement and water quality improvement projects.

The Transylvania Endowment and The Yancey Fund both mark 20 years of growth and service in 2018.

$25,000 Natural and Cultural Resources grant to Green Built Alliance is supporting the Blue Horizons Project, the brainchild of the Energy Innovation Task Force jointly undertaken by the City of Asheville, Buncombe County and Duke Energy and involving local government, businesses and environmental and clean energy advocates. The Project has two primary goals: in the long term, transition the region to a cleaner, affordable and smarter energy future; and in the short term, to avoid or delay the construction of a natural gas plant planned for 2023. The Blue Horizons Project was conceived to promote energy efficiency throughout the region and enlist public support.

Ancillary benefits include lower utility bills for customers and reduced carbon emissions. To participate, visit www. bluehorizonsproject.com.

Photo courtesy of Brackett Town Farms.

Learning Links

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fter spending a year learning about the history of North Carolina, 80 eighth-grade students from Harris Middle School in Mitchell County traveled to the coast to experience history, science and math first hand. They visited historical sites, aquariums and the beach, thanks to a $3,200 Learning Links grant. Harris Middle School has a 70% free and reduced lunch rate and is a Title 1 school. The trip is a highlight of the eighth-grade year, resulting in academic knowledge and independence for the students.

Photos courtesy of Harris Middle School

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Cashiers community fund awards grants totaling $137,400

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ast year, the Cashiers Community Fund (CCF) awarded $137,400 to nonprofits serving Cashiers and the surrounding region. Since 1994, the Fund has awarded $1,185,285 to projects that improve the quality of life in greater Cashiers and benefit the broad community and its residents. CCF provides grants between $2,500-$10,000 to nonprofit organizations and

public agencies for charitable purposes, including programmatic needs, capital campaigns and operating expenses.

Friends of Panthertown was awarded $10,000 to support volunteer coordination and training, conduct stewardship outreach and purchase tools and safety equipment for trail maintenance.

Photo courtesy of Friends of Panthertown.

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ince 2000, the Melvin R. Lane Fund has made 36 three-year grants totaling $5,228,363, impacting CFWNC’s entire 18-county region.

An Early Childhood Development grant of $99,500 was awarded to Community Action Opportunities to enhance the socialemotional skills of more than 530 preschool-age children in 27 Head Start classrooms in Buncombe and Madison counties.

Supporting WNC students

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n 2018, CFWNC awarded scholarships totaling $540,000 to 103 students in 59 schools in 19 counties in Western North Carolina. Sixty volunteers from the community worked to review applications and select recipients. Many recipients and family members attended the inaugural Scholarship Reception held

CFWNC photo.

this year to celebrate student achievement and awards. Past scholarship recipient Mary Beth Thomas was awarded $32,000 over four years. Another recipient, Raleigh Cury, was awarded $42,000 over four years. They shared their experiences and gratitude with attendees. Many fundholders choose to honor a loved one, alma mater, community or profession by establishing scholarship endowments.

The Foundation currently manages 45 scholarship funds.

12 Janirve Sudden and

Urgent Needs grants totaling $91,742 were awarded in 2018 to respond to unanticipated needs that impact a nonprofit’s ability to provide critical services.

Power of the Purse®

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Mitchell County Schools was awarded $3,000 to provide books for the Summer Reading Café. Photo courtesy of Mitchell County Schools.

The Fund for Mitchell county reaches $1,000,000 in assets

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n April, an anonymous donor made a generous $600,000 contribution to The Fund for Mitchell County, closing the gap on a campaign the volunteer advisory board launched in 2014. Reaching the $1 million mark means that the fund can initiate independent grantmaking. With generous community support and strong market returns, the Fund is able to award additional grants to nonprofits in Mitchell County beginning March 2019.

ward-winning journalist Maria Hinojosa was the featured speaker at the 14th Annual Power of the Purse® on May 22. Hinojosa’s address documented her journey from Mexico City to Chicago to New York City’s Barnard College to becoming the first Latina correspondent for NPR, CNN and PBS. She challenged the crowd to love, to be inclusive and to be careful with language.

“Words can be dehumanizing,” she said. “It’s hard to look at our own history. We all have to open our eyes and talk to people in our communities. At the core of our democracy is dialogue.”

The 2019 Power of the Purse® takes place May 21 and features soccer champion and equality and diversity activist Abby Wambach.

Power of the Purse®

Centerpieces were delivered to 13 Domestic Violence Shelters across WNC. Maria Hinojosa and UNC Asheville’s Carla Willis. Photos by Michael Oppenheim.

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C E L E B R AT I N G

YEARS Ice Cream social

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n June 15, CFWNC kicked off 40th anniversary celebrations by partnering with The Hop Ice Cream CafĂŠ, also marking 40 years, to offer free scoops in Pack Square Park. Hundreds of friends and fans of the Foundation and delicious, local, from-scratch ice cream stopped by for an afternoon treat. CFWNC and The Hop are in good company. Helpmate and Pisgah Legal Services also turned 40 in 2018.

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hanks to Highland Brewing Company, CFWNC celebrated 40 years with a special small batch beer that was served at celebratory gatherings and sold in the tasting room. A portion of the proceeds benefitted the Fund for Western North Carolina.

In September, CFWNC brought constituents together at Highland for a series of events to thank supporters and celebrate the anniversary.

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Photos by Michael Oppenheim

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People Have Big Hearts

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he McClinton Family has been in Asheville since 1978, the same year as CFWNC’s founding.

“When we first came, I was reinstating in the Junior League and sat next to a friend who mentioned the Foundation, and it had just begun,” said Sue.

Sue joined the CFWNC Board in 1992, and the family opened their first donor advised fund in 1995 to accomplish their charitable goals, create a legacy and eventually involve their son Danny and granddaughter Miah.

“It’s been a neat experience for Miah and me to be a part of our family’s charitable legacy,” said Danny. “It reflects my life, and it has always been my goal to be able to give back and make a difference.”

Over the years, the family has worked with CFWNC in many ways. Sue is a founding member of the Women for Women giving circle. They’ve chosen to carry on the legacies of loved ones through memorial funds that make awards to local nonprofits. They worked with the Foundation in planning their estates.

“In our wills, we’ve left money to nonprofits we care about.

The funds will continue to be managed by The Community Foundation, and will be in good hands,” said Sue. “Of course, there is going to be growth and change, but we know the Foundation is stable.”

Ray McClinton

Sue McClinton

Danny McClinton

“The Foundation is a respected organization in this part of the world, and it’s because of the people who are involved on the staff and board,” added Ray. “We appreciate their work with our family but also their efforts in the community.”

“The concept of giving back has been handed down to me,” continued Danny. “People have big hearts. To be able to support the causes that you care about and know that the funds are invested and managed by an entity that you trust, I believe that is really important.”

“I am grateful to be part of a family that values community building and philanthropy. My grandparents have devoted decades to community organizing and fundraising in a way that inspires me to give back. Our family’s charitable legacy with The Community Foundation is important because it grounds our giving in an awareness of the local needs of the community.”

– Miah McClinton 20 20

SERVICES FOR FUNDHOLDERS

Giving

CFWNC is here to make it simple for you to support what you love in Western North Carolina and beyond using convenient, customized giving solutions and tax-wise financial strategies. Whether you want to make a gift today or plan a legacy for the future, we can help you create a giving plan that’s thoughtful, meaningful and effective.

Becoming a Fundholder

You can create your own fund, focused on an array of needs or a specific issue, location or organization. You choose your level of involvement, timing and how to involve family or others in giving decisions. And, you always have the option to be recognized for your gift or to remain anonymous.

What to Give

You can give cash, securities and mutual fund shares, closely held stock, retirement accounts, interest in a limited liability partnership, life insurance, real estate or private foundation assets. Your professional advisors can be involved, ensuring coordination across your charitable, financial and estate planning.

Sound Investment

Every fund is professionally invested, so gifts grow over time for more charitable impact.

Giving and Grants

Make secure, online grant recommendations and check fund activity anytime. If you prefer to talk with someone, we’re available in person as well as by phone and email.

Advice and Opportunity

Your giving can be more rewarding when you take advantage of CFWNC’s 40 years of philanthropic and regional knowledge.

We share information about community issues, introduce you to philanthropic and community leaders and keep you updated on local funding opportunities.

Estate Planning

There are charitable giving vehicles to address current income needs, provide for heirs or ease estate administration. As you plan, we can work with you and your advisors through a range of giving options providing tax benefits.

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2011 – 2018 Grants $1,167,320 2018 Grants $208,529 Co-investment $38,188 (18%)

Natural & Cultural

American Whitewater Asheville Symphony Society Blue Ridge Parkway Foundation Center for Craft Conserving Carolina Green Built Alliance Jackson County Green Energy Park Nikwasi Initiative Parkway Playhouse Toe River Arts Council

Resources

CFWNC invests in cultural and environmental projects to protect and enhance the region’s natural beauty and to support the region’s arts-based economy.

Josh Kelly Public Lands Field Biologist MountainTrue

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Dierdre Perot National Public Lands Representative Back Country Horsemen of North Carolina

Julie White Pisgah Area Director Southern Off Road Bike Association

Jill Gottesman Conservation Specialist The Wilderness Society Melissa Patton Executive Director Carolina Land and Lakes

Kevin Colburn National Stewardship Director American Whitewater

Members of the Nantahala-Pisgah Forest Partnership Leadership Team photographed at North Carolina Arboretum in Pisgah National Forest.

CFWNC has awarded $140,618 to the NantahalaPisgah Forest Partnership since 2013 for a plan revision. An initial grant to the Wilderness Society provided facilitation and ensured that a wide spectrum of interests and voices would be heard. A 2018 grant to American Whitewater funded continued facilitation during the final phases. The release of the draft document was recently pushed back to early 2019 due to unprecedented public involvement.

The Nantahala and Pisgah national forests together comprise more than a million acres. Both forests are utilized extensively by visitors and residents, and the area affected straddles sixteen of the eighteen counties CFWNC serves. The plan will guide management for timber, wildlife, water quality, recreation and other uses for the next fifteen to twenty years. A collaborativelybuilt forest plan supported by a broad set of partners benefits the entire region.

Other signature achievements include grants to support a reconciliation process that resulted in development of the Nikwasi Initiative and Cherokee Cultural Corridor, efforts to reduce energy consumption through Green Built Alliance’s Blue Horizons Project, the transition of Haywood County’s Folkmoot from a festival to a year-round program, the Center for Craft’s study on affordable housing for the creative sector and support for art exhibitions and programs.

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Pisgah Legal Services

Julia Horrocks

Both CFWNC and Pisgah Legal Services (PLS) mark 40 years of service in 2018. The organizations were started by thoughtful visionaries who saw needs that were unmet and worked towards addressing them.

Casey Steen Ben Many

Bill Whalen

“The late 1970s was a time when few resources existed for people in need,” said Jim Barrett, Pisgah Legal Executive Director. “But there was a sense that we could work together to create what was necessary to make our communities stronger and more responsive to people with low incomes in our region.”

Robin Merrell

Shoshana Fried

Nikki Mitchell

in crisis or domestic violence survivors or families on the verge of losing their homes in the middle of a recession – CFWNC was often the very first funder.”

Over the years, Pisgah Legal has received grants from the Women for Women giving circle, the Recession Response Fund, affiliate funds, Janirve SUN, People in Need and twice from the Melvin R. Lane Fund, the only nonprofit awarded a second time. It also receives support from many donor advised funds, a designated fund and a nonprofit endowment fund.

Pisgah Legal has moved from assisting dozens of people annually to helping more than 15,000 people each year. “The Community Foundation has been instrumental in virtually every programmatic expansion of our work,” continued Barrett. “The earliest CFWNC grant I recall was a matching grant to help us establish the Children’s Law Project in about 1995. We combined that grant with other donations to add an attorney to our staff that had been depleted by federal funding cuts. That proved to be a valuable lesson for me; we have used such leveraging over and over again. For each new program added – to serve children

“Although WNC is a large region, in many ways we are a very small community,” added Barrett. “Many of the people who believe strongly in social justice and the power of legal aid are also working closely with The Community Foundation to facilitate their charitable giving.”

Jim Barrett, Executive Director 35 years at PLS, 25 as the Executive Director

Robin Merrell, Managing Attorney Supervises housing and consumer law programs

Shoshana Fried, Attorney Director of Immigration Law Program; Works with immigrants in crisis in 17 WNC counties

Nikki Mitchell, Attorney Rutherford County Community Economic Development and Housing

Julia Horrocks, Managing Attorney Oversees work to prevent and stop domestic violence, child abuse and sexual assault Ben Many, Attorney Director of Homelessness Prevention Program

“Together, we have eased the suffering of tens of thousands of people living in poverty in Western North Carolina and advocated for better overall social policies that benefit us all.”

Read the entire Barrett interview at www.cfwnc.org.

Casey Steen, Attorney Transylvania County Domestic Violence Attorney; Working to stop domestic violence and child abuse Bill Whalen, Senior Staff Attorney 38 years at PLS; Addresses consumer issues and debt relief for low-income clients

Jim Barrett 24

www.pisgahlegal.org

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2011 – 2018 Grants $1,286,530 2018 Grants $274,500 Co-Investment $101,000 (37%)

Greg Borum Director of Advocacy Children First/ Communities In Schools Beth Maczka Chief Executive Officer YWCA of Asheville and WNC Amy Barry Executive Director Buncombe Partnership for Children

Buncombe County Partnership for Children Children & Family Resource Center of Henderson County Community Action Opportunities Mountain Area Health Education Center Southwestern Child Development Commission Verner Center for Early Learning

Lilyanne

Elisha Freeman Executive Director Child and Family Resource Center of Henderson County

Sheila Hoyle Executive Director Southwestern Child Development Commission Jacque Penick Child Advocate Formerly Verner Center for Early Learning

Early Childhood Development Not Pictured: Jaclyn Kiger, Pisgah Legal Services 26

The goal of CFWNC’s grants in Early Childhood is to improve educational and developmental outcomes for children ages 0-5. Because of the scale of this crucial issue, advocacy is an important tool. Grants to Southwestern Child Development Commission supported the work of the WNC Early Childhood Coalition, pictured here, whose members advocate to improve access to quality, affordable early childhood education in WNC. Due to the group’s advocacy and participation in public policy development, the director of the NC Division of Child Development and Early Education committed to prioritize and devote resources to improving the funding method for subsidized child care in WNC counties. It’s a win to have administrative support, although changes won’t be apparent for another year.

Other signature focus area achievements include an expansion of the evidence-based Nurse Family Partnership program, the development of a Buncombe County-wide plan to expand Pre-K, the launch of the Yancey Alliance for Young Children and additional childcare capacity at the YWCA. 27

Partnering with Nonprofits for 40 Years

SERVICES FOR NONPROFITS Nonprofits choose to invest their assets with CFWNC to gain access to institutional-caliber strategies in a cost-effective manner and because they know and trust the Foundation. Nonprofit assets under management account for 21 percent of CFWNC’s total funds or $62 million.

Nonprofit Funds CFWNC helps regional nonprofits by offering expertise in administration and investment management.

Nonprofit fundholders complement their development efforts with CFWNC’s full range of charitable products such as gift annuities and remainder trusts.

CFWNC is available to help negotiate complex gifts and offer solutions. Nonprofits gain access to layers of supervision, diversity of investments, benchmarks and standards that an independent portfolio might not command on its own. For information about opening a nonprofit fund, contact Senior Development Officer Becky Davis at 828-367-9905.

“Another step forward this year has been the establishment of a Community Foundation. Following months of study by a Committee headed by Ray Hust, the United Way Board approved the concept and served as a catalyst for getting the Foundation formed.”

– The 1978 United Way of Asheville and Buncombe County Annual Report In March 1978, under the sponsorship of the United Way and later the co-sponsorship of the Junior League of Asheville, a committee was formed and feasibility study conducted that led to the formation of The Community Foundation of Greater Asheville, Inc. That summer, By-Laws and Articles of Incorporation were established, and on December 20, the Foundation came into being. In 1982, the service area was expanded to the 18 counties CFWNC continues to serve, and the name was changed to The Community Foundation of Western North Carolina.

Partnership between CFWNC, the United Way and the Junior League goes back 40 years. In addition to managing their nonprofit funds, CFWNC has been able to assist them with complicated estate and real estate transactions.

CFWNC has been managing endowment funds for the United Way since 1979. There are also eight CFWNC designated funds that send spendable income to the organization annually. In 2018, a donor left a sizeable estate gift to CFWNC to benefit the United Way’s endowment fund. CFWNC received the

Grant Funding

gift and transferred the funds, fulfilling the donor’s charitable wishes and adding to the United Way’s annual spendable income and permanent sustainability.

David Bailey President & CEO United Way of Asheville and Buncombe County

The Junior League has also worked with CFWNC to secure its future. CFWNC manages three endowment funds for the organization. When the Junior League decided to sell its downtown Asheville building, it worked with CFWNC to ensure sustainability through the structure of a customized endowment fund. The principal is preserved and will grow to enable the League to have funds for programs and initiatives in perpetuity.

Both the United Way and the Junior League receive annual donor advised grants through CFWNC. The United Way has also received numerous competitive grants through Asheville Merchants, People in Need, affiliate and other grant programs.

Today, CFWNC manages more than 130 nonprofit funds for organizations across Western North Carolina.

The majority of CFWNC’s grants are donor advised.

Grants from discretionary funds and field of interest funds are made in alignment with the focus areas.

Grant programs and deadlines are listed on our website.

For additional information, contact Grants Manager Diane Crisp at 828-367-9904.

WNC Nonprofit Pathways

Melissa Kledis President Junior League of Asheville

Pathways is a funders’ collaborative formed in 2006 that supports the nonprofit sector through technical advice, consultancies and grants. In 2018, Pathways services reached 642 nonprofits in the 18-county region.

CFWNC supports the efforts of nonprofits to be as efficient and effective as possible through Pathways participation. Other Pathways funders include the Cherokee Preservation Foundation, Mission Health and the United Way of Asheville and Buncombe County.

Pathways is also supported by the Blue Cross and Blue Shield of North Carolina Foundation, The Duke Endowment, Duke Energy Foundation and Kate B. Reynolds Charitable Trust. For more information, visit the Pathways website at www.nonprofitpathways.org.

Stay informed by subscribing to enews and following CFWNC on Facebook and Twitter.

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Regional Affiliate Funds In 1992, CFWNC opened its first affiliate fund. In the years that followed, eight more were established to raise local dollars and provide regional expertise and leadership. This expansion and effort was supported by the Janirve Foundation and hundreds of volunteers and donors.

This year, all nine reached a $1 million asset level that allows them to begin independent grantmaking tailored to their communities and needs.

Black Mountain – Swannanoa Valley Endowment Fund Established in 1999; June 30 assets* surpassed $2.5 million Advisory Board Members: Kannah Begley, John Buckner, John Corkran, Chip Craig (Chair), Barbara Griffin, Carol Groben, Roger Hibbard, Margaret Hurt, Bill McGee, Scott Roy, Joseph Standaert, Lori Turley and Betsy Warren *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 MountainSwannanoa Valley.

Cashiers Community Fund Established in 1992; June 30 assets* surpassed $3.3 million Advisory Board Members: Lisa Bates, Jeanne Builder, T. Wayne Davis (Chair), Shannon Hargrove, Carol Hunter, Harriet Karro, Jochen Lucke, Harry Phillips, Linda Quick, Jeff Sikes, Toby Summerour and Barbara Tickle *The Board also makes grants from the Lyn K. Holloway Memorial Fund.

The Fund for Haywood County Established in 1994; June 30 assets* surpassed $1.4 million Advisory Board Members: Nyda Bittmann-Neville, Adam Bridges, Kim Ferguson, Jeff Haynes, Anna Jorstad, Christine Mallette (Chair), Scott McLeod, Steve McNeil, Carol Peterson, Jeremy Phillips, Jonathan Song, Donald Stanton 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.

Highlands Community Fund Established in 1996; June 30 assets* surpassed $1.6 million

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Photos from top left, clockwise, courtesy of Boys and Girls Club of the Plateau; Community Care Clinic of Highlands – Cashiers; Marjorie McClune Center; KidSenses Children’s INTERACTIVE Museum; Mitchell County Animal Rescue; TRACTOR Food and Farms; Grace Community Church; Big Brothers Big Sisters of WNC; and Friends of the Gorges.

Advisory Board Members: Kathy Bowman, Caroline Cook, Gayle Cummings, Amanda Gregory, Ann Klamon, Jim Landon (Chair), Jeff Nixon, Diane Riddle, Jim Stokes, Cindy Trevathan, John Viani and Jeff Weller *The Board also makes grants from the Mildred Miller Fort Charitable Fund.

The McDowell Endowment Established in 1995; June 30 assets* surpassed $1.1 million Advisory Board Members: Marion Baker, Vicki Burton, Rebecca B. Cross, Simeon R. Cross, Marsh Dark, Juanita

Doggett, Nancy Hunter, Michael Lavender, Ray McKesson (Chair), Rob Noyes, Jan Ramsey, Joy Shuford, Nancy Spencer and Bobbie Young *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 surpassed $1 million Advisory Board Members: Beverly Ayscue, Janie DeVos, Sammie Ellis, Nick Joerling (Chair), Delphia Lamberson, Sue Ledford, Becky Plummer, Brandon Roberts and Brenda Sparks Rutherford County Endowment Established in 1996; June 30 assets surpassed $1.8 million Advisory Board Members: Jane A. Bell, John Condrey (Chair), Lucille Dalton, Jackie Hampton, Sally Lesher, Keven McCammon, Karen Moore, Janice Paris, Michael S. Tanner and Judy Toney Transylvania Endowment Established in 1998; June 30 assets* surpassed $1.6 million Advisory Board Members: Don Bieger, John Goins, Don Guffey, Char Holbrook, Beth Holimon, Patti Jerome, Beth Lastinger, Scott Latell (Chair), John Nichols, Layne Racht, Robin Saul, Mark Shevory, John Shoemaker, Jerry Stone and Judy Welch, Au.D. *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* surpassed $2.7 million Advisory Board Members: Jim Ashton, Jill Austin, Gretchen Banks, M.D., Larissa Bare, Amber Westall Briggs, Frances Coletta, Ph.D., R.D., Jim Gentry, Linda Goldberg, David McIntosh, Jamie McMahan, Ron Powell (Chair), Wanda Proffitt, Greg Stella and Sam Young *The Board also makes grants from the Bailey-Hilliard Fund.

To learn more about our affiliates, visit www.cfwnc.org.

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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 activities including 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 process.

Statement Of Financial Position

Assets

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.

Fundholders can recommend an investment option from among 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 valued investment management relationships with the following firms:

Cash & cash equivalents Prepaid expenses Accounts receivable Note receivable Investments Property and equipment, net Real Estate Investments, permanently restricted

Total assets

2018 2017 11,335,534 402 162,303 1,000,000 170,023,903 2,301,252 26,000 136,727,510

321,576,904

Parsec Financial Management

A l t a v i s t a We a l t h M a n a g e m e n t

Pe o p l e s Un i t e d A d v i s o r s , In c . (C T )

Boys Arnold & Company

Raymond James & Company

Colton Groome & Company

U B S We a l t h M a n a g e m e n t

Merrill Lynch

284,508,122

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

453,741 14,026 749,310 5,010,743 74,345,773

Total liabilities 80,573,593 Net assets

Altamont Capital Management

6,046,990 5,690 205,514 1,000,000 142,864,364 2,371,022 570,186 131,444,356

Unrestricted (deficit) Temporarily restricted Permanently restricted

377,827 5,855 1,172,347 4,497,776 61,185,339

67,239,144

3,415,962 100,859,839 136,727,510

2,882,463 82,942,159 131,444,356

Total net assets

241,003,311

217,268,978

Total liabilities and net assets

321,576,904

284,508,122

Statement Of Activities

A N N U A L I Z E D I N V E S T M E N T R E T U R N S through 6/30/18:

A S S E T A L L O C AT I O N as of 6/30/18:

2018 Revenues and other support:

CFWNC Benchmark*

One Year

6.9%

6.8%

Three Years

5.3%

6.2%

Five Years

6.5%

7.3%

*The benchmark utilized is 60% MSCI World, 40% Barclays Aggregate Index. Investment returns are reported net of investment expenses.

Global equity

54.6%

Alternative investments

21.6%

Real Assets Fixed Income & Cash

5.2% 18.6%

100.0%

Note for facing page: 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 report reflect total contributions received and total grants disbursed.

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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

28,815,675 2,594,104 11,383,263 (741,514) 460,255 108,610 241,123

17,804,769 2,308,558 19,207,286 (260,228) 419,592 47,503 264,489

42,861,516

39,791,969

Expenses

Grants & Program services Supporting services

2017

17,518,793 1,608,390

15,848,498 1,524,990

Total Expenses 19,127,183 17,373,488

Change in net assets 23,734,333 22,418,481 Net assets, beginning of year 217,268,978

Net assets, end of year 241,003,311

194,850,497 217,268,978 33

Services for Professional Advisors

CFWNC Staff

Photo by Michael Oppenheim.

At any stage of a client’s life, CFWNC can serve as a trusted philanthropic advisor, connecting clients with effective charities, Photos by Michael Oppenheim strategic giving opportunities and others who share their interests.

We’ll listen carefully, provide expertise and guide the charitable conversation, confidentially and without a fee. CFWNC offers a range of giving options with immediate tax benefits and can help clients define a legacy for future giving.

The region’s professional advisors are CFWNC’s partners in building philanthropy. Our annual professional seminar, now in its 28th year, features a timely continuing education from a nationally-known speaker. Throughout the year, advisors stay informed and connected through informal “lunch and learns” and a newsletter highlighting important tax and estate planning news.

The Professional Advisory Committee links CFWNC with professional advisors across the region.

Above left: James Plaster of Altamont Capital Management and Logan Bolick of Altavista Wealth Management. Above right: Nicole Ferrell of Merrill Lynch, Shon Norris of Gould Killian CPA Group and Carter Webb of Strauss & Associates. Photos by Michael Oppenheim.

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The committee includes: Sarah Sparboe Thornburg, McGuire Wood & Bissette Law Firm, Chair Joel Adams, Raymond James Financial Services L. Daniel Akers, Jr., Altavista Wealth Management, Inc. Nicki Applefield, Patla, Straus, Robinson & Moore, P.A. James W. Baley, Dixon Hughes Goodman LLP Mike Begley, Begley Law Firm, P.A. 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 Evan Gilreath, Gilreath Shealy Law PLLC Larry B. Harris, CPA, CFP, Parsec Financial Management, Inc. BJ Kilgore, The VanWinkle Law Firm Harris Livingstain, McGuire, Wood & Bissette Law Firm Shon Norris, Gould Killian CPA Group, P.A. Kale Olson, Oppenheimer & Co., Inc. Harli L. Palme, Parsec Financial Management, Inc. Townsend Tanner, Wells Fargo Advisors LLC, CFP® Carter Webb, Strauss & Associates, P.A.

Sheryl Aikman Vice President, Development

Becky Davis, CFRE Senior Development Officer

Amber Harrelson-Williams Program Associate

Tara Scholtz Senior Program Officer

Philip Belcher Vice President, Programs

Naomi Davis Finance and Human Resources Officer

Angel Hines Office Administrator

Janet Sharp Staff Accountant

Graham Keever Chief Financial Officer

Rebecca Telberg Development Associate

Lezette Parks Scholarship Officer

Sally Weldon Director of Information Technology

Elizabeth Brazas President Spencer Butler Donor Relations Officer Diane Crisp Grants Manager

Virginia Dollar Senior Program Officer Angela Farnquist Donor Relations Associate Lindsay Hearn Communications Director

Jennifer Sadler Finance Associate

PHOTOGRAPHY

DESIGN

Lynne Harty is an Asheville-based professional photographer specializing in portrait, food and lifestyle photography. Photos by Lynne Harty unless otherwise noted.

The report was designed by Sheri Lalumondier of Indigo Design Inc, an Asheville-based graphic design firm.

Michael Oppenheim is an Asheville-based wedding, commercial, architectural, editorial and travel photographer.

Photo on this page by Michael Oppenheim.

Special thanks to: Photo locations: Smoky Park Supper Club, North Carolina Arboretum and SAHC Community Farm; CFWNC staff, especially Diane Crisp, for proofreading, editing and assistance.

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4 Vanderbilt Park Drive, Suite 300 Asheville NC 28803 828-254-4960 www.cfwnc.org

Confirmed in compliance with national standards for US Community Foundations 36