2020 Annual Report The Community Foundation of Western North Carolina

W H E N

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W I L L

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W A K E ?

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2020 YE A R E N D R E P O RT

TH E C O M M U N IT Y F O U N D ATI O N O F W E STE R N N O RTH C A R O L I N A

REACTIVE TO THE NOW

Messages from visitors to Mel Chin’s WAKE

Photo by Michael Oppenheim

Every year, we prepare a report of CFWNC’s work. This year’s report includes familiar content but also reflects the reality of a world changed by a pandemic and rocked by calls for racial justice.

In the wake of COVID-19, the questions posed by Mel Chin’s WAKE installation - When will we wake? How will we rise? – take on a different and expanded meaning. It is no longer possible to think about climate change and commercialism without also reflecting on interconnectedness and inequality. How will we rise?

The answer must be together.

In talking about WAKE, Chin said, “we have to be reactive to the now and to think always about how we will rise to the issues that face us. We can learn from our past but we need to put individualism aside and consider how we can work together.”

This now makes demands of us. Nonprofits were reactive as they shifted priorities to respond to immediate and basic needs and worked to fill public health gaps as quarantines shut down communities. Regional funders, CFWNC donors and community members pooled funds at CFWNC that were quickly distributed to support this response.

As we wound down our initial pandemic response effort in June, we knew recovery would not be quick. Here we are, in this now, facing surges in infections, challenges to educating children, parents out of work and continuing needs across the region.

Progress is ours to make on public health, economic inequities, racism, climate, a divided society – you name it. Looking at the issues that face us, we need to decide what we will do as individuals and as an organization. The now requires that we acknowledge our shared experience and responsibility to one another.

The pandemic led us to find common cause. Bringing people together and building coalitions is one way that CFWNC works to fulfill its promise to the region. Philanthropy is a deep-rooted value embodied by fundholders who place assets with us to address immediate needs and to plan for the unexpected.

As your community foundation, we acknowledge the complexity of the problems we face and pledge to hold ourselves accountable as an organization and as a team. Working within the limitations of our resources and the scope of need, we will do our very best to respond to our collective now and to support nonprofits that transform shared beliefs and hopes into action.

Together, we wake. Together, we rise.

Sarah Sparboe Thornburg Chair, Board of Directors

Elizabeth Brazas President

PANDEMIC RESPONSE FU N D ERS

A coalition of regional funders came together to support the Emergency and Disaster Response Fund (EDRF) activated and administered at CFWNC that awarded more than $1.3 million in grants over a nine-week period to nonprofits in 18 WNC counties including the Qualla Boundary. Initial funding partners included Dogwood Health Trust and WNC Bridge Foundation.

Other funders quickly came on board and were joined by CFWNC fundholders and community members who wanted to help. The Fund provided flexible resources to organizations with deep roots in communities and experience addressing basic needs and filling public health gaps. Pandemic relief also came in the form of donor advised grants directly from fundholders, which increased significantly over the same period last year.

We expanded lobbying activities to support our grantees. We added our voice to others requesting additional food assistance for MANNA FoodBank, advocating for the Anti-Hunger coalition and supporting SNAP benefits for families at both the state and federal level. We signed on to appeals for job recovery bills, aid for independent restaurants and their workers, increased funding for arts organizations, and expanded Medicaid for North Carolina.

FU N D I N G PARTN ERS Dogwood Health Trust WNC Bridge Foundation AMY Wellness Foundation Biltmore Lake Charitable Fund Facebook The Glass Foundation Lipscomb Family Foundation Mission Health HCA Healthcare, North Carolina Division Nantahala Health Foundation Pisgah Health Foundation Ramble Charitable Fund Sutherland Foundation Wells Fargo Ye a r E n d R e p o r t 2 0 1 9 - 2 0 2 0 / c f w n c . o r g

FUNDING SOURCES 10% 19% 10%

TOTA L

$1,327,64 8 29% 32% CFWNC Discretionary Funds $250,040 19% Foundations $420,000 32% Gifts from CFWNC Funds $383,880 29% Gifts from Individuals $136,728 10% Corporate Gifts $137,000 10%

FUNDHOLDER

MATT LEE

Photo by Michael Oppenheim

“This experience highlights how interconnected and interdependent we are. My father was an infectious disease doctor. I grew up hearing about the possibility of a pandemic like COVID-19 and the devastating effect it would have, especially on vulnerable members of society. When I saw that CFWNC was activating an emergency relief fund, I felt called to contribute to these efforts to provide immediate support and aid to affected members of the community I love.�

Matt Lee was the first individual to contribute to the EDRF effort.

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PANDEMIC RESPONSE GRANTEES

TOTAL GRANTS 161 / TOTAL DOLLARS $1,327,648

Feeding Avery Families

OpenDoors of Asheville Photo courtesy of MANNA FoodBank

“In the time of the COVID-19 crisis, grants from the Emergency and Disaster Response Fund have been vital to MANNA’s partner agency network.

I am grateful that regional funders have come together to be responsive in distributing funds that make the biggest impact at a time when it is most needed. In some cases, these grants were pivotal in our partners’ ability to continue operations at all, and, in other situations, they have been a lifeline for people suddenly experiencing an emergency food crisis.”

Homeward Bound

Hannah Randall, Chief Executive Officer, MANNA FoodBank Ye a r E n d R e p o r t 2 0 1 9 - 2 0 2 0 / c f w n c . o r g

Western Youth Network

GRANTS BY C ATE G O RY CHILDREN SUPPORT SERVICES

9%

$100,650

CRISIS SUPPORT

9%

$99,500

DISABILITIES

2 % - $20,000 Hunger Coalition of Transylvania County

DIVERSITY

10%

$131,750

DOMESTIC VIOLENCE

9%

Haywood Street Congregation

Appalachian Sustainable Agriculture Project

$109,000

ELDER SERVICES 1 % - $20,000 FAMILIES

5%

$70,000

HEALTH SERVICES

9%

$98,142

HOMELESS SERVICES

7%

$84,000

HOUSING

2 % - $16,000 HUNGER

40% - $525,806 MENTAL HEALTH

6% BeLoved Asheville

$62,800

FOCUS AR EA G RANTMAK I N G

CFWNC awards grants in areas of identified need. These focus areas guide our strategy for unrestricted funds in a landscape of activities that includes other competitive grant programs, donor advised grants, broad support for the nonprofit sector, partnership with regional affiliates and collaborations with other funders. Program staff work closely with nonprofits to identify promising projects and collaborations. Fundholder and donor co-investment accounted for 39% of total Focus Area grants in 2020.

Photo by Michael Oppenheim

N AT U R A L & C U LT U R A L R E S O U R C E S 2011 – 2020 Grants $1,560,222 • 2020 Grants $184,490 • Co-investment $10,000 (1%) $45,000 was awarded to RiverLink, as fiscal sponsor for the French Broad River Partnership, to engage consultants to create an economic impact study quantifying the value of clean water to the local economy. The study will cover the eight counties of the French Broad River Watershed from its headwaters near Rosman, NC, until it enters Tennessee (Transylvania, Henderson, Buncombe, Madison, Yancey, Haywood, Mitchell and Avery). The partnership is a consortium of more than 70 nonprofits, conservation groups, businesses, community organizations, local governments, and state and federal agencies.

E A R LY CHILDHOOD D E V E L O P M E NT

FOOD & FA R M I N G

2011 – 2020 Grants $1,631,550

2011 – 2020 Grants $1,607,681

2020 Grants $226,478 Co-investment $115,000 (51%)

2020 Grants $231,071 Co-investment $45,500 (16%)

$72,000 over two years was awarded to Blue Ridge Partnership for Children/Alliance for Young Children of the Blue Ridge to extend the benefits of the initiative to Avery and Mitchell counties. Since 2014, CFWNC has supported the Alliance in coordinating the efforts of agencies and citizens across Yancey County to achieve the systemic changes needed to prepare the region’s children for school and life success. The project ensures the availability and affordability of health, education and parent support services. Photo courtesy of Blue Ridge Partnership for Children.

$25,000 was awarded to the Organic Growers School to implement programming that provides WNC farmers with individualized support, advanced education and mentoring services to enhance success and sustainability. The services target farmers in years 3 to 10 of their farming careers, critical years during which small farmers face problems of scale and burnout that often challenge farm businesses. Photo courtesy of Organic Growers School.

PEOPLE IN NEED 2011-2020 Grants $9,859,128 2020 Competitive Grants $1,173,782 OnTrack SECURE Program $200,000 Janirve SUN Grants $52,938 Co-investment $690,431 (49%) Unlike the other three focus areas, People in Need offers a competitive program awarding grants to nonprofits that support underserved people. Grants are funded by the Janirve Legacy Fund, co-investment from CFWNC fundholders, discretionary funds, and private foundations that partner with us. In November 2019, CFWNC awarded $1,173,782 through sixty-nine grants with $617,431 in co-investment. A $200,000 grant to OnTrack Financial Education and Counseling expanded the successful SECURE matched savings program (read more in Year in Review).

Delta House Life Development of Asheville was awarded $20,000 to provide academic and enrichment services to 50 students in grades 3 to 8. Photo courtesy of Delta House.

Complete lists of grants and additional information is available at cfwnc.org.

YEAR IN REVIEW S E C U R E S E R V E S M O R E P E O P L E

Photo courtesy of SECURE

A two-year $200,000 grant to OnTrack Financial Education and Counseling’s SECURE Matched Savings program is supporting approximately 200 low-income people in establishing emergency savings accounts.

CFWNC funded SECURE through a successful pilot project in 2016 and a two-year grant in 2017 that expanded it to three rural counties.

Participants can build a potential $720 in savings by contributing $15 to $30 per month to a savings account that is matched up to $540, after six months of consecutive savings.

The main qualifier for participation is income: SECURE is available to people with household incomes between 30% and 80% of Area Median Income; for example, a family of four qualifies if household income is between $25,750 and $53,100.

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OUTREACH Bobby Soule, Vice President and Territory Manager, Lamar Advertising, quickly and generously responded Photo courtesy of United Way to CFWNC’s request to utilize electronic billboard space to guide NC residents to COVID-19 resources and assistance via the United Way’s 211 system.

Regional United Way organizations and the statewide United Way network coordinated the effort.

FISCAL YEAR 2020 $22 million Grants Awarded 74 New Funds Established $22.3 million New Gifts $331 million Total Assets Total Distributions $276 million since 1978

SOURCES OF GRANTMAKING FUNDS

Photo courtesy of RiverLink

2 5 Y E A R S O F WAT E R QUALITY GRANTS

Between July 1, 2019, and June 30, 2020, in partnership with fundholders, donors and affiliates, CFWNC awarded $22 million in grants and scholarships.

The Pigeon River Fund (PRF) was established in 1994 when Carolina Power & Light (CP&L), subsequently Progress Energy and, now, Duke Energy, sought a new 40year Federal license to continue to operate and maintain the Walters Hydroelectric Project on the Pigeon River. The license was granted, with conditions; significantly, the creation of a grant program dedicated to water quality and the health of aquatic invertebrates and fish.

For 25 years, the PRF has been administered by CFWNC. The Fund has distributed nearly $8 million to nonprofits addressing water quality issues in the former CP&L service area encompassing Buncombe, Madison and Haywood counties, as well as the Town of Fletcher in Henderson County. Projects must meet at least one of the program’s four objectives: improving surface water quality, enhancing fish and wildlife management habitats, expanding public use and access to waterways, and increasing citizens’ awareness about their roles in protecting their resources.

“RiverLink has appreciated support from the Pigeon River Fund over the years,” said Garrett Artz, Executive Director. “While we’ve been able to purchase equipment and provide educational experiences, of equal importance has been the ability to apply the fund as a match to leverage larger grants for stream restoration or stormwater control on a large scale. A dollar from PRF can often attract two or three or four more from the larger funders.”

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49.4% Donor Advised Funds 17.5% Nonprofit Funds 10.2% Designated Funds 1.9% Scholarship Funds 17.1% Field of Interest Funds 2.1% Affiliate Funds 1.8% Unrestricted Funds

YEAR IN REVIEW $500,000 IN SCHOLARSHIPS AWARDED

Photo of Jameson Wolfe by Ashley Thubin

CFWNC recently approved scholarships totaling $510,250 to 94 WNC students in 57 schools in 21 counties. More than 60 volunteers from the community worked to review applications and select recipients, some through Zoom meetings and online interviews.

Jameson Wolfe from Asheville High School received the Marilyn Lester and William Lester Scholarship valued at $40,000 over four years. She attends NC State University where she plans to study aerospace engineering. “I love problem-solving and design. However, I am also greatly concerned with the urgent necessity of taking significant action against climate change. I plan to enter the workforce as an engineer and work toward decreasing environmental destruction and developing renewable energy source technology into air and space travel.�

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GRANTS BY PROGRAM AREA LEARNING LINKS G R A NTS S U P P O RT E D U C AT O R S

Photo courtesy of Western North Carolina Workers’ Center

G R A NTS S U P P O RTI N G WO M EN AN D G I RLS The Women for Women giving circle awarded seven grants totaling $309,988 in 2020. With these awards and in its 15th year of grantmaking, the giving circle has invested more than $4.1 million to support programs serving WNC women and girls.

“These grant applications were submitted prior to the COVID-19 pandemic,” said Steering Committee Chair Julia Akers. “But the needs of underserved communities or victims of sexual or domestic violence only increase in times like these. We are honored to support the work of nonprofits providing these important services.”

The grants were awarded to Delta House Life Development of Asheville, Helpmate, Light A Path, Options, Pisgah Legal Services, Safelight and Western North Carolina Workers’ Center.

Prior to the pandemic, 61 grants totaling $88,228 were awarded to teachers across the region for projects to enhance student learning.

School closures impacted Learning Links projects in ways that were unavoidable.

Earlier this year, CFWNC released project restrictions to allow teachers to use the grant funds to support their students in any way they deemed most beneficial.

The grants were funded by the Ben W. and Dixie Glenn Farthing Charitable Endowment Fund, Cherokee County Schools Foundation Endowment Fund, Dr. Robert J. and Kimberly S. Reynolds Fund, Leon C. and Grace E. Luther Charitable Fund and the Fund for Education.

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$22 MILLION

2.4% Scholarships 2% Animal Welfare 10% Advancing the Arts 27% Assisting People in Need 14% Building Community & Economic Vitality 8.6% Enhancing the Environment 16% Improving Educational Opportunities 13% Promoting Quality Health 7% Religion

Jane Tara Cicchetti is an Asheville-based practitioner of classical homeopathy for 35 years as well as a teacher, author and researcher. She helps clients across the U.S. and in several countries work toward transformational healing, and shares her decades of experience and training with colleagues.

Jane brings that same sense of generosity and care for others to her charitable giving. “I learned about CFWNC through MANNA FoodBank,” she said.

“MANNA is efficient and creative, and I wanted to support their work.”

Jane knew that a charitable gift annuity was the right vehicle for her and opened one benefitting MANNA earlier this year. “I love the idea of charitable gift annuities,” she explained.

“They combine support for a favorite charity and the creation of reliable retirement income. I think they are underutilized in financial planning.”

“The first experience I had with CFWNC was extremely positive,” she continued. “The

staff is informative, respectful and transparent. There was never any pressure and there is much gratitude.”

BE LIKE JANE

“When I needed another annuity, I created one that benefits CFWNC’s Fund for Western North Carolina. The idea of directing remaining assets to a nonprofit that benefits so many in our region appeals to me. I’m certain they know who needs assistance.”

When asked about the causes she cares most about, Jane said there are many, including access to food and medical care and a new interest in providing students with computers and internet connections necessary for remote learning.

“I believe that the capacity for generosity is part of the human spirit that is continually evolving,” said Jane. “It is a gift to have the opportunity to express it.

The Community Foundation provides opportunities for community members to be part of the process of helping others. This makes for a vital and abundant community.”

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Photo by Michael Oppenheim

“How can we live an abundant life if others are in need and we do nothing?”

WAYS TO INVEST IN WNC GIVE NOW CFWNC builds endowments to address regional needs as they change over time. You can make a tax-deductible contribution to any of these funds, knowing that your support helps WNC forever.

Fund for Western North Carolina Fund for People in Need Fund for Animal Welfare Fund for the Arts Fund for the Environment Fund for Education Fund for Health Fund for Strong Communities The Women’s Fund Women for Women Endowment Fund Fund for Scholarships

Donate to a fund cfwnc.org

C R E ATE A FUND CFWNC offers customized giving solutions and taxadvantaged strategies. We can help you create a plan that’s personal, thorough and effective.

Become a Fundholder A donor advised fund, named or anonymous, may provide tax benefits and a convenient way to consolidate your giving. You can create a fund that benefits a favorite nonprofit or supports students or a particular cause.

CFWNC can help you decide what fund type is the best fit for your situation and goals.

G I V E L ATE R

Discuss your

A bequest is the simplest way to leave a legacy of caring for the issues, organizations or community most important to you during your lifetime.

Other planned giving options include Charitable Gift Annuities or Charitable Remainder Trusts.

options with our

As you plan, CFWNC can provide advice on a range of giving options, centered on your charitable priorities.

Learn more - cfwnc.org

What to Give You can give cash, marketable 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 are part of the process, ensuring coordination across your charitable, financial and estate planning.

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development staff to find the best vehicle to meet your charitable goals.

WORKING WITH NONPROFITS NONPROFIT FUNDS Nonprofit assets under management account for nearly 24% of total funds or $78 million. Nonprofits choose to invest with CFWNC to gain access to institutional-caliber strategies in a cost-effective manner and because they know and trust CFWNC. Photo courtesy of BBBSWNC

Big Brothers Big Sisters of Western North Carolina (BBBSWNC) was awarded an $8,500 capacity grant to plan for executive staff transition as well as $12,380 to implement the High School Bigs program in Burke, Graham and Swain counties. When the pandemic hit, BBBSWNC transitioned to emergency services and was awarded an Emergency and Disaster Response Fund grant of $5,700 to purchase food for distribution to families.

Before he left, retiring Executive Director Robin Myer wrote, “With my pending retirement, I realize that these are my last grant requests to the Foundation. This leads me to a moment of reflection and gratitude. I do believe, over my 27 years, that every grant application I have submitted to CFWNC has been funded.

The Foundation’s support has made it possible for us to expand to several new counties, to implement numerous new programs and to grow the program to serving more than 3,000 children annually. Thank you for this remarkable partnership. Together, we are igniting the potential of the children in the program.”

“With CFWNC’s support, BBBSWNC continues to support socially distanced and virtual contact between Bigs and Littles that is especially meaningful during a time when our youth are struggling to connect with other adults,” said Paul Clark, communications coordinator.

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CFWNC offers expertise in administration and investment management. We can help negotiate complex gifts and provide solutions.

Contact Senior Development Officer Becky Davis at 828-367-9905 to open a nonprofit fund.

GRANT FUNDING Competitive grant programs and deadlines are in the grants directory at cfwnc.org.

WNC NONPROFIT P AT H W A Y S Pathways is a funders’ collaborative that helps organizations become stronger and more sustainable. In 2020, CFWNC made eleven Capacity Grants totaling $85,900 in alignment with the focus areas.

2020 Funders CFWNC Cherokee Preservation Foundation United Way of Asheville and Buncombe County The Duke Endowment Duke Energy Foundation Blue Cross and Blue Shield of North Carolina Foundation nonprofitpathways.org.

PARTN E R S H I P WITH PROFESSIONAL ADVISORS Professional advisors are CFWNC’s partners in building philanthropy. CFWNC helps advisors develop customized charitable plans that integrate clients’ business, personal and financial decisions and tax-planning needs. We provide advice and guide the charitable conversation, confidentially and without a fee.

CFWNC serves as a trusted philanthropic advisor, connecting clients with effective nonprofits, strategic giving opportunities and others who share their interests. CFWNC is a resource when clients want to give now or define a legacy for future giving.

Regional advisors are CFWNC’s most frequent source of referrals.

We could not be more grateful for the partnership and trust.

PROFESSIONAL ADVISORY CO M M ITTEE Sarah Sparboe Thornburg, McGuire, Wood & Bissette Law Firm, Chair L. Daniel Akers, Jr., Altavista Wealth Management, Inc. 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. Evan Gilreath, Gilreath Shealy Law PLLC Matthew L. Groome, Colton Groome & Company 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, Hilliard Lyons Harli L. Palme, Parsec Financial Management, Inc. Townsend Tanner, Wells Fargo Advisors LLC, CFP ® Carter Webb, Strauss & Associates, PA CFWNC offers advisors opportunities to stay informed and connected through informal “lunch and learns” and a newsletter highlighting important tax and estate planning news. Subscribe or learn more by emailing info@cfwnc.org.

R. Walton Davis, III, P.A.

“When CFWNC is involved, my job usually gets easier. It happened recently when a client asked for help designating a large IRA at death to a number of charities. She wanted each nonprofit’s share to be held in a permanent fund that pays income annually. It looked complicated. Then we called The Community Foundation. It agreed to administer the gift, when the time comes, as my client desired. I prepared the form, and CFWNC did the rest. Becky Davis worked with my client to prepare the fund agreement identifying the nonprofits and detailing the shares of the income and any applicable restrictions. A difficult legal project became easy. I like easy!”

R. Walton Davis, III, P.A. Ye a r E n d R e p o r t 2 0 1 9 - 2 0 2 0 / c f w n c . o r g

INVEST IN YOUR COMMUNITY CFWNC partners with our regional affiliates by learning from local leaders, managing endowments and facilitating community-based grantmaking. You can support the communities, causes and nonprofits you care most about by giving to an affiliate fund.

In 2020, CFWNC’s nine affiliates awarded $597,350 in grants guided by local knowledge and with the flexibility to do the most good. Examples of these grants include:

Black Mountain – Swannanoa Valley Endowment Fund awarded $10,000 to Meals on Wheels of Asheville and Buncombe County for meals for homebound seniors. The Buckner Family Endowment Fund, the Helen S. and Jerry M. Newbold, Jr. Endowment Fund and the Forbes Fund for Black Mountain-Swannanoa Valley also support grantmaking in Black Mountain and the Swannanoa Valley. Photo courtesy of Meals on Wheels.

Cashiers Community Fund awarded $10,000 to Friends of Panthertown for forest stewardship and conservation and to promote and coordinate volunteer work days. The Lyn K. Holloway Memorial Fund also supports grantmaking in Cashiers. Photo courtesy of Friends of Panthertown.

The Fund for Haywood County awarded $7,000 to Vecinos Farmworker Health Program to provide medical supplies for indigent and uninsured farmworkers as part of an integrated healthcare model. The J. Aaron and Adora H. Prevost Endowment Fund and the Mib and Phil Medford Endowment Fund also support grantmaking in Haywood County.

Photo courtesy of Vecinos.

Highlands Community Fund awarded $8,500 to Blue Ridge Mountains Health Project to increase access to free preventive dental services and dental health education to underserved residents of the Highlands area. The Mildred Miller Fort Charitable Fund also supports grantmaking in Highlands. Photo courtesy of Blue Ridge Mountains Health Project.

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R E G I O N A L A F F I L I AT E F U N D S The McDowell Endowment awarded $3,000 to Babies Need Bottoms to provide diapers for low-income families. The Margaret Westmoreland Gibson Memorial Fund, Greenlee Family Fund, A.C. Hogan Family Fund and the Daniel I. and Joy Q. Shuford Fund also support grantmaking in McDowell County. Photo by Sara Monteith, courtesy of Babies Need Bottoms.

The Fund for Mitchell County awarded $5,000 to Pisgah Legal Services (PLS) to support free civil legal assistance and advocacy to low-income residents. Photo of PLS Attorney Olivia Williams by Michael Oppenheim, courtesy of PLS.

Transylvania Endowment awarded $8,500 to the Boys & Girls Club of Transylvania County to support its teen programming for youth in 7th-12th grades. 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 Sheriff’s Department, Karen Wilde Memorial Fund for Brevard Police Department, Transylvania Directors’ Fund and Holbrook-Nichols Transylvania Housing Assistance Fund also support grantmaking in Transylvania County. Photo courtesy of Boys

The Yancey Fund awarded $10,000 to Toe River Aggregation Center Training Organization Regional (TRACTOR) to provide low-income people access to fresh fruit and vegetables.

The Bailey-Hilliard Fund also supports grantmaking in Yancey County. Photo courtesy of TRACTOR.

& Girls Club.

Rutherford County Endowment awarded the Carolina Cross Connection $2,500 to purchase building supplies to make necessary repairs for low-income households. Photo courtesy of Carolina Cross Connection.

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2020 FINANCIALS $22 M I LLI O N

$22 MILLION

$331 M I LLI O N

Total Grants and Scholarships

Total Gifts

Total Assets As of 6/30/2020

A DIVERSIFIED P O RTF O L I O

INVESTMENT PERFORMANCE

The goal of CFWNC’s investment program is to preserve and enhance the real value of assets over time.

To accomplish this goal, CFWNC pursues diversified asset allocations and utilizes an Investment Committee, comprised of local professionals with investment and financial expertise.

Effective stewardship of philanthropic assets is the key to building permanent charitable funds that can strengthen communities.

CFWNC has a sound record of risk-adjusted returns that has served the Foundation and its donors well over the long term. The performance objective for CFWNC’s investment activities is

ANNUALIZED INVESTMENT RETURNS through 6/30/20:

CFWNC

BENCHMARK

6.5%

5.6% 4.1%

6.2%

6.7%

7.6%

4.3%

CFWNC maintains valued investment management relationships with the following: Altamont Capital Management, Altavista Wealth Management, Boys Arnold & Company, Colton Groome & Company,

Merrill Lynch, Parsec Financial Management, Peoples United Advisors, Inc. (CT), Raymond James & Company, StoneStreet Wealth Management and UBS Wealth Management.

A S S ET A L L O C ATI O N as of 6/30/20:

1.3% - Global Asset Allocation 11.9% - Balanced Mgr 17.1% - Fixed Income/Cash 5.4% - Real Assets

1.4% 1 YR

to achieve a total return of CPI + 4.5% over a full market cycle.

3 YRS

5 YRS

10 YRS

*The Benchmark is 60% MSCI All-Country World Index, 40% Barclays Aggregate Index. Investment returns are reported net of investment expenses.

22.0% - Alternative Investments 41.7% - Global Equity

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 report reflect total contributions received and total grants disbursed.

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STATE M E NT O F F I N A N C I A L P O S ITI O N 2020

Assets

Cash & cash equivalents Prepaid expenses Accounts receivable Investments without donor restrictions Property and equipment, net

2 0 19

6,909,761 43,962 157,789 77,518,084 2,172,842

5,229,150 56,033 183,582 78,195,728 2,234,849

244,333,530

245,295,291

331,135,968

331,194,633

Grants and scholarships payable Accounts payable and accrued liabilities Long-term debt Liabilities under split-interest agreements Funds held as agency endowments

552,293 20,887 354,600 4,322,950 7777,452,844

515,955 8,856 309,321 4,923,832 76,368,135

Total liabilities

82,703,574

82,126,099

Without donor restrictions With donor restrictions

4,098,864 22,44,333,530

3,773,243 245,295,291

Total net assets

248,432,394

249,068,534

331,135,968

331,194,633

2020

2 0 19

Investments with donor restrictions

Total assets Liabilities and Net Assets Liabilities

Net assets

Total liabilities and net assets

STATE M E NT O F A CTI V ITI E S 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

17,212,327 2,998,639 527,949 (129,112) 513,104 129,637 0001110000105,338 00011100

18,846,586 2,879,787 6,107,300 (510,233) 498,764 146,925 334,414

21,357,882

28,303,543

20,339,916 3311,654,106

18,506,244 1,732,076

21,994,022

20,238,320

(636,140)

8,065,223

Net assets, beginning of year

249,068,534

241,003,311

Net assets, end of year

248,432,394

249,068,534

Total revenues and other support Expenses

Grants & Program services Supporting services

Total Expenses Change in net assets

Ye a r E n d R e p o r t 2 0 1 9 - 2 0 2 0 / c f w n c . o r g

DIVERSITY, EQUITY AND INCLUSION CFWNC is on a journey to embed diversity, equity and inclusion throughout our organization. This requires questioning, listening, learning and unlearning. As we move forward, we will integrate new knowledge into our internal systems, policies, practices and grant processes.

Dr. Maya Angelou said, “Do the best you can until you know better, then when you know better, do better.” We understand that we can do better, and we pledge to continue to evolve and pursue deeper understanding and continued improvement.

Here is how we have started: Last year, we engaged Lyndi Hewitt, Associate Professor of Sociology at UNC Asheville, and students from her Applied Social Research class to review and assess CFWNC’s grant documents and processes to look for unintended bias and barriers for regional nonprofits.

After an internal assessment of work we had done, and coaching from a board member with experience in this work, we created a Diversity, Equity, and Inclusion Working Group focused on internal policies and practices.

Our DEI workgroup is participating in Whiteness at Work, a training program to develop shared language and skills to address white dominant culture, institutional racism and racial equity.

We are engaged in learning with our foundation peers in North Carolina and throughout

“Do the best you can until you know better, then when you know better, do better.”

Messages from visitors to Mel Chin’s WAKE

the country. Across the philanthropic field, work is taking place to identify and define best practices to respond to today’s realities and longer-term issues caused by discriminatory practices.

We are in discussion with other funders about how best to collaborate and include our nonprofit partners in a process that allows for greater accountability for how and where our funds are distributed. Our service area across 18 counties, including the Qualla Boundary, is diverse in many ways. As we move forward, we will take a holistic approach toward diversity, in all its forms and complexities, as it exists throughout Western North Carolina.

We know that we have much to learn, and we are committed to this journey. We approach this work with hope and determination. There is always more that we can do. We know it, and we embrace learning and change.

Staff photo by Michael Oppenheim

BOARD OF DIRECTORS

STA F F

Sarah Sparboe Thornburg Chair J. Chris Smith Vice-Chair Charles Frederick Treasurer Michael Fields Secretary

Philip Belcher Vice President, Programs

Amber Harrelson-Williams Program Associate

Elizabeth Brazas President

Lindsay Hearn Communications Director

Elena Briceno Finance Associate

Graham Keever Chief Financial Officer

Spencer Butler Senior Donor Relations Officer

Julie Klipp Chief Operating Officer

Caroline M. Avery Natalie Bailey Ellen O. Carr Frank Castelblanco Guadalupe Chavarria, II William Clarke Connie Haire Susan Jenkins Stephanie Norris Kiser Jean McLaughlin Joanne Badr Morgan Scott Shealy Juanita Wilson

Diane Crisp Senior Grants Manager

Lezette Parks Scholarship Officer

Becky Davis, CFRE Senior Development Officer

Tara Scholtz Senior Program Officer

Naomi Davis Finance and Human Resources Officer

Janet Sharp Senior Staff Accountant

Virginia Dollar Senior Program Officer Angela Farnquist Donor Relations Associate

CFWNC’s mission is to inspire philanthropy and mobilize resources to enrich lives and communities in Western North Carolina.

CFWNC staff, photographed at WAKE, wearing masks donated by Industrial Opportunities, Inc. (IOI).

Located in Andrews, IOI is a nonprofit manufacturing facility that employs adults with disabilities living in Cherokee, Clay and Graham counties. In response to COVID-19, IOI redirected manufacturing to the production of medical masks in March 2020.

Rebecca Telberg Development Associate Sally Weldon Director of Information Technology Ye a r E n d R e p o r t 2 0 1 9 - 2 0 2 0 / c f w n c . o r g

4 Vanderbilt Park Drive, Suite 300 Asheville, NC 28803

Mel Chin, a WNC based conceptual artist, created WAKE as part of Mel Chin: All Over the Place, a multi-site survey of his works from across many decades that took place in several New York City locations, including Times Square. Chin was named a MacArthur Fellow in September 2019.

WAKE was conceived and designed by the artist and engineered, sculpted and fabricated by an interdisciplinary team of UNC Asheville students, faculty, staff and community artists led by Chin. A collaborative group, led by UNC Asheville’s Steam Studio and CFWNC, planned and raised funds for the sculpture to be seen locally. It remains on view in Asheville through March 15, 2021.

Information at ashevillearts.com.

cfwnc.org / 828-254-4960 2019- 2020 Annual Report: Writing/editing: Lindsay Hearn, Diane Crisp Confirmed in compliance with national standards for US Community Foundations

Design: Indigo Design/Sheri Lalumondier Printer: BP Solutions

Cover photos (left to right, top to bottom): courtesy of MANNA FoodBank; Mel Chin’s WAKE, photo

by Michael Oppenheim; courtesy of Verner Center for Early Learning; courtesy of BeLoved Asheville; courtesy of Southside Kitchen; courtesy of Boys & Girls Club of Henderson County; courtesy of TRACTOR Food & Farms; and courtesy of Food Connection.