THE COMMUNIT Y FOUNDATION of WESTERN NORTH CAROLINA
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Year End R E P O R T
Photo by Michael Oppenheim
"WE ARE INSPIRED BY PEOPLE WHO RECOGNIZE A PROBLEM OR OPPORTUNITY AND HAVE THE AUDACITY AND TENACITY TO IMAGINE A SOLUTION."
Confluence
The theme of this report is Confluence, inspired by the rivers and streams that flow through every county CFWNC serves. From the Catawba in Burke County to the Tuckasegee in Jackson County, bodies of water, large and small, cross boundaries and represent a resource we all share. There are many issues and efforts where common concerns merge, and we are committed to working at those intersections. CFWNC has a new strategic framework that we will use to navigate the coming years. It is flexible by design. Our goal is to partner broadly and to integrate a renewed sense of purpose into our work addressing issues that affect us all. We want our actions and resources to be part of relevant and socially-responsible leadership and investment in the region. We are committed to deep collaboration and to the concept that, at times, failure is part of progress and learning - for donors, nonprofits, funders and leaders alike. We are inspired by people who recognize a problem or opportunity and have the audacity and tenacity to imagine a solution. We see this approach daily across the work of our nonprofit partners and in the generosity of our donors. A sustained effort in Haywood County helped the Maggie Valley Sanitary District (page 7) win a statewide award for the best drinking water. The Pigeon River
- a coming or flowing together, meeting, or gathering at one point Fund helped to support the work, but success required the commitment of a broad and talented team that kept the focus on moving forward and was not derailed by differences. On pages 16 and 17, you can learn more about CFWNC’s work with land trusts and other nonprofits that pursue the complementary goals of protecting natural resources and supporting community-based economic development. The projects engage local leaders, volunteers and community members who understand that our economy and environment are linked. Many of these projects represent years of work. Big problems, like climate change and polarization, belong to all of us. How we navigate complicated issues rests with us, collectively through our work at CFWNC and individually through the choices we make. All of us care about families, education, healthcare and our communities and recognize that transformation requires stamina, courage and a coming together. CFWNC is committed to trying, to transparency and accountability, and to aligning our work with the core values of our region. We acknowledge the complexity of this approach, and some likely discomfort, but also the potential of learning, growing and collaborating to better serve WNC.
Elizabeth Brazas President
J. Chris Smith Board Chair
Year End Report 2022-2023 / cfwnc.org / 1
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Focus Area
EARLY CHILDHOOD DEVELOPMENT Grants - $338,163 with co-investment of $126,213 (37%)
G R A N T S
FOOD & FARMING Grants - $372,450 with co-investment of $147,000 (40%) Appalachian Sustainable Agriculture Project
Blue Ridge Partnership for Children
Bounty & Soul
Children & Family Resource Center
McDowell Local Food Advisory Council
Region A Partnership for Children
Organic Growers School
Smart Start of Transylvania County
Organic Growers School as fiscal sponsor for WNC Food Justice Planning Initiative
Co-investors Bahnson-Armitage Fund, Carol Waggle Oliver Fund, Craig Family Foundation Fund, Dogwood Charitable Endowment Fund, Dr. Robert J. and Kimberly S. Reynolds Fund, Gretchen Batra Fund, John and Janet Garrett Charitable Fund, Mary Beth Allen Charitable Fund, Peterson Endowment Fund, Thomas L. and Phyllis Day Davis Fund, WNC Resolve Fund and two anonymous funds. "With the invaluable support from CFWNC, the Blue Ridge Partnership for Children has led the establishment of a cohesive Parent Education System across Avery, Mitchell and Yancey counties. Collaborating with local agencies - from Cooperative Extension centers that host registration/information portals, to agency staff becoming facilitators and early child care professionals supporting caregivers during sessions - this joint effort is transforming families in our community, one class at a time.” Jennifer Simpson Executive Director, Blue Ridge Partnership for Children
Polk County Government Southern Appalachian Highlands Conservancy The Utopian Seed Project
Co-investors Bahnson-Armitage Fund, Biltmore Estate Charitable Fund, Carol Waggle Oliver Fund, Dogwood Charitable Endowment Fund, Dr. Robert J. and Kimberly S. Reynolds Fund, Ero Fund, John and Janet Garrett Charitable Fund, Oliver Family Fund, WNC Resolve Fund and two anonymous funds. “The year-round farmers markets in Polk County are a vital community asset that supports new and beginning businesses, as well as secondary income for many households, including retirees. Access to fresh, locallygrown products, as well as handmade artisanal crafts, is healthy for community economic stability and physical well-being. Through the support of CFWNC, we have been able to host multiple fresh food tastings, a health fair, a local children's book author, and musicians. The relationship with CFWNC has been a positive one, and we hope to partner again in the future.” Dawn Jordan Polk County Agriculture Economic Development Director and Columbus Market Manager
2 / Year End Report 2022-2023 / cfwnc.org
NATURAL & CULTURAL RESOURCES Grants - $251,000 with co-investment of $145,882 (58%) Eagle Market Streets Development Corporation as fiscal sponsor for the Catawba Vale Collaborative Foothills Conservancy of NC Madison County Arts Council Mainspring Conservation Trust
Photo courtesy of Blue Ridge Partnership for Children
Toe River Arts Council The Wilderness Society Wildlands Network as fiscal sponsor for Safe Passage Fund Coalition
Co-investors Dogwood Charitable Endowment Fund, Dr. Robert J. and Kimberly S. Reynolds Fund, Ero Fund, John and Janet Garrett Charitable Fund, Mandler / Tambor Family Fund, Rick and Bridget Eckerd Charitable Fund, Riverbend Fund, Stewart Fund for Life & Love, The Ecology Wildlife Foundation Fund, Trillium Fund, Walnut Fund and two anonymous funds.
Photo courtesy of Polk County Government
“As North Carolina experiences rapid growth and development, timing is critical for investment in safe passages for people and wildlife. CFWNC support will leverage federal grant programs and help complete transportation projects that reduce wildlife-vehicle collisions. The Safe Passage Fund Coalition is grateful for CFWNC’s commitment to preserving what makes our region a special place to live, work and play.” Nikki Robinson North Carolina Project Manager, Wildlands Network Photo by Joye Ardyn Durham, courtesy of Wildlands Network
Year End Report 2022-2023 / cfwnc.org / 3
HUMAN SERVICES Grants - $1,756,520 with co-investment of $632,510 (36%) Competitive Grants $1,505,520 Matched Savings Grant $200,000 Capacity Grants $51,000
Seventy-eight Human Services grants totaling $1,505,520 were awarded last November to nonprofits serving marginalized populations across the 18-county service area.
Co-investors Carol Waggle Oliver Fund, Charles F. Hamrick and Marguerite D. Hamrick Charitable Fund, Connestee Falls Endowment Fund, Consuelo's Fund, Crutchfield Charitable Fund, Delphinium Fund, Dogwood Charitable Endowment Fund, Dr. Robert J. and Kimberly S. Reynolds Fund, Ero Fund, Fenton Family WNC Fund, Fidel Duke Fund, Gretchen Batra Fund, Henri Landwirth Family Endowed Fund, John and Janet Garrett Charitable Fund, Oliver Family Fund, Perez Family Fund, Peterson Endowment Fund, Reichman Family Charitable Fund, Rick and Bridget Eckerd Charitable Fund, Samuel and William Elmore Fund for Mental Wellness, Terrence Lee One Love Fund, Thomas L. and Phyllis Day Davis Fund, Travis and Jenny Boyer Fund, Walnut Fund, Wasson-Stowe Charitable Fund, Yeager-Cole Fund and six anonymous funds.
Private foundation co-investors Klunk Family
Foundation, The Leon Levine Foundation and Lipscomb Family Foundation.
Matched savings co-investors Dogwood Charitable Endowment Fund, Rick and Bridget Eckerd Charitable Fund and an anonymous fund.
Sudden and Urgent Needs Grants CFWNC awarded 21 grants totaling $186,280
Co-investor: Dogwood Health Trust 4 / Year End Report 2022-2023 / cfwnc.org
Photos, clockwise from top left, courtesy of Westbridge Vocational, Shiloh Community Association, SeekHealing, Arteria Collective, Black Mountain Counseling Center, Bountiful Cities Project, Asheville Area Habitat for Humanity and Center for Participatory Change
C O - I N V E S T M E N T 7/1/22 – 6/30/23
Donors
Discretionary
Total
Donor %
Early Childhood Development
$126,213
$211,950
$338,163
37%
Food and Farming1
$147,000
$225,450
$372,450
40%
Natural and Cultural Resources
$145,882
$105,118
$251,000
58%
Human Services2
$632,510
$1,124,010
$1,756,520
36%
Sudden and Urgent Needs (SUN)
$50,0003
$136,280
$186,280
27%
WNC Nonprofit Pathways
N/A
$50,000
$50,000
0%
$1,101,605
$1,852,808
$2,954,413
37%
1
includes Capacity grants / includes Capacity grants and Matched Savings grants / Dogwood Health Trust 2
3
$34 Million in Distributions 55 New Funds Established
Year
GRANTS BY PROGRAM AREA
$30.8 Million in New Gifts $408 Million Total Assets (6/30/23) $362 Million Total Distributions Since 1978
IN REVIEW
CFWNC approved scholarships totaling $558,000 to 96 WNC students in 53 schools in 19 counties. More than 60 volunteers worked to review applications and select recipients. Nancy Membreno from School of Inquiry & Life Sciences at Asheville was awarded the Marilyn Lester and William Lester Scholarship valued at $40,000 over four years. The Lester Scholarship Fund was established by Marilyn Lester to reflect the pride and affection that she and her late brother Bill felt in being Asheville natives. Most especially, she wanted to express appreciation for the education she and Bill received in the Asheville City Schools system, particularly at Lee Edwards High School, now Asheville High School. Photo courtesy of Nancy Membreno
27% Promoting Quality Health 17% Assisting People in Need 16% Enhancing the Environment 14% Improving Educational Opportunities 13% Building Community & Economic Vitality 6% Advancing the Arts 4% Religion 2% Scholarships 1% Animal Welfare
MAGGIE VALLEY WINS WATER AWARD
DEEPENING EQUITY & DIVERSITY CFWNC continued its ongoing equity and diversity work with the overarching goal to align and connect these activities deeply with its operational functions. In pursuit of that goal, the DEI workgroup collected information and organized learning opportunities. Staff sessions addressing disability etiquette and neurodiversity ensured awareness of best practices and resulted in changes to our office space to increase accessibility. Direct experiences with people in their communities deepened staff understanding at the Museum of the Cherokee People and Oconaluftee Village in Cherokee; Hometown Walkabout with The Industrial Commons in Morganton; and the Asheville Museum of History and South Asheville and Newton Academy cemeteries. Photos courtesy of CFWNC, above Hometown Walkabout, and left, Museum of the Cherokee People
Maggie Valley’s water quality recently won a statewide first-place award from the NC Rural Water Association in a competition with other rural areas. Maggie Valley has a head start with the cleanliness of water because no source water flows into the county; everything flows out. It has also benefitted from a long and deep collaboration to protect and conserve water sources and land, an effort that has been supported by a broad network of agencies, nonprofits and funders. “We started in 2004 and dealt with 22 private landowners to get this work done,” said Neil Carpenter, former District Manager at Maggie Valley Sanitary District (MVSD). “With that many relationships, we had a huge need for surveys, appraisals and closing costs. Many grants didn’t have any provisions for covering those expenses. When the Pigeon River Fund stepped up to fund them, it was really the key that moved the project forward.” Since 2016, the Fund has awarded $275,000 to the MVSD for conservation and protection projects. With this statewide award, Maggie Valley now qualifies to compete nationally in Washington D.C. in February. Photos above courtesy of CFWNC
Year End Report 2022-2023 / cfwnc.org / 7
SOURCES OF GRANTMAKING FUNDS Between July 1, 2022, and June 30, 2023, in partnership with fundholders, donors and affiliates, CFWNC facilitated $34 million in grants and scholarships.
SUPPORT FOR CANTON CFWNC has been working with Haywood County, the Town of Canton, regional funders and engaged stakeholders to address the impact of the closing of the Pactiv Evergreen papermill. In May, CFWNC awarded $150,000 to the Town of Canton to underwrite a full-time Recovery Officer to assist the Town Manager’s office with work related to the Mill closure and economic revitalization. Candidates are under consideration, and an Officer should be in place in early 2024. In June, CFWNC created the Forward Fund to support nonprofit organizations and municipalities affected by the closure. Dogwood Health Trust and Blue Cross Blue Shield of NC have made significant contributions to the Fund. “Our expectation is that grants will support economic recovery and transition,” said Elizabeth Brazas. “I am moved by how many people have reached out proactively to help and am struck by the level of partnership,” said Canton Mayor Zeb Smathers. “The closing has created difficult situations for so many, but it opens the opportunity for us to plan together for a healthy future and shared prosperity. CFWNC’s Forward Fund provides yet another tool for continued collaboration.”
LEARNING LINKS 57 Learning Links grants totaling $101,912 went to schools to provide local teachers with funding for experiential activities for their students.
8 / Year End Report 2022-2023 / cfwnc.org
ADVOCACY AND LOBBYING CFWNC, as a public charity, can participate in and support lobbying. During the year, CFWNC engaged in a broad range of issues, including action to make permanent the recent American Rescue Plan expansions of the Child Tax Credit and Earned Income Tax Credit, signed letters in support of the School Meals for All NC, supported the Charitable Giving Coalition’s efforts to address legislation impacting philanthropy and giving, and more. We also award grants that support lobbying. In partnership with nonprofits, other funders and leaders across the region, CFWNC is using our platform and engaging on issues crucial to the health and well-being of WNC.
40.2% Nonprofit 36.9% Donor-Advised 9.5% Field of Interest 9.5% Designated 2.5% Affiliate 1.1% Scholarship .3% Unrestricted
Friends of paddler Shannon Christy opened a donor advised fund to honor her memory and support her passions. The Shannon Christy Memorial Fund awards grants to nonprofits that empower girls and women, protect the environment and rivers, relate to kayaking or the outdoors, and more. Grants have supported Outdoor Afro, Our VOICE, American Canoe Association, Nantahala Racing Club, Rios to Rivers, French Broad River Academy, Diversify Whitewater and more. Proceeds from the Women’s Paddlefest, held in June at Nantahala Outdoor Center, were directed to the Fund. Photos from left: Canton, courtesy of CFWNC, and Women’s Paddlefest, courtesy of Anna Levesque; and photo below Michael Greene, courtesy of Counseling Center of Highlands
HIGHLANDS COMMUNITY FUND SUPPORTS MENTAL HEALTH With a $10,000 grant from HCF, the Counseling Center of Highlands subsidized more than 1,000 clinical sessions last year. The therapists saw young people, couples, individuals, and short-term and longer-term clients. Michael Greene, LCSWA (right), their first bilingual therapist, sees patients in the evenings at the Community Care Clinic; hosts afternoon evaluation sessions with clinical staff; supports clients at the Food Pantry run by International Friendship Center; and provides office and patient hours (for both Spanish and primary English speakers) at the Counseling Center at the Peggy Crosby Center. Partnering nonprofits continue to evaluate and plan for providing the most care with the greatest benefit to residents through the Plateau Behavioral Health Collaborative, a partnership to address behavioral health concerns for at-risk communities along the Highlands-Cashiers Plateau.
Protecting Preston Jacobsen, Elizabeth Brazas and Chris Smith, photo by Michael Oppenheim
T H E
Pigeon
“AS POPULATION GROWTH CONTINUES, DEVELOPMENT EXPANDS, AND THE CLIMATE SHIFTS TOWARD A WETTER AND POSSIBLY MORE EXTREME FUTURE, CLEAN WATER AS A RESOURCE FOR LOCAL COMMUNITIES AND THE NATURAL ECOSYSTEMS IS ONE OF THE HIGHEST PRIORITIES ACROSS OUR REGION.”
“Haywood Waterways Association's (HWA) mission mirrors that of CFWNC’s Pigeon River Fund (PRF), and sustained financial support from the Fund has had a positive impact on the watershed and enabled us to exist. We are not successful without our partners and local community members, who have helped us secure more than $12 million in restoration, education and monitoring grants. Like many WNC counties, Haywood County is facing a surge in development and steady population increase. Securing and protecting water availability is a high priority, and we applaud the recent efforts by NC State Director Bill Holman and The Conservation Fund and many other organizations that will provide positive benefits for generations. HWA is also working with residents, towns and Haywood County to plan a response to the next major flood. Tropical Storm Fred (August 2021) and the devastation it brought to the County has spurred a leading-edge effort in flood resilience preparation and conservation. HWA has secured grant dollars to conduct planning, modeling and conservation projects from Clyde to Cruso over the next three years, the first of many necessary phases. We recently wrapped up our 27th year of our Kids in the Creek program that has provided an experiential learning opportunity in the water for more than 17,500 8thgraders since 1997. We also conduct Aquatic Education Workshops throughout the warmer months, and last 10 / Year End Report 2022-2023 / cfwnc.org
Kids in the Creek, photos by Michael Oppenheim
year we brought more than 300 local youth and 50 adults to snorkel and conduct macroinvertebrate sampling and fish IDs. The goal is to educate and inspire people so that the long-term benefit is an educated community, one that holds environmental stewardship as a priority. As population growth continues, development expands, and the climate shifts toward a wetter and possibly more extreme future, clean water as a resource for local communities and the natural ecosystems is one of the highest priorities across our region. Haywood County is a headwaters watershed, and we have a unique opportunity to ensure generational protections and solutions to keep our clean waters clean. We are beyond grateful for the support and guidance of the PRF over the past 25 years. HWA relies upon the resources of CFWNC across many aspects of our operation and welcomes the insight, inspiration and funding opportunities that allow us to meet our mission.” Preston Jacobsen Executive Director, Haywood Waterways Association Year End Report 2022-2023 / cfwnc.org / 11
Fly Fishing, French Broad River, photo by Derek DiLuzio
All water is connected and only
land and people are discontinuous.
A B R A H A M V E RG H E S E , T H E C OV E N A N T O F W AT E R
RiverLink
Photo by Michael Oppenheim
"FOR ALL THE PROGRESS THAT HAS BEEN MADE, WE STILL FACE EXTRAORDINARY CHALLENGES GIVEN THE RIVER’S ENORMOUS ECONOMIC IMPACT ON THE REGION AND ONGOING FRAGILITY TODAY DUE TO TOO MUCH SEDIMENT LOADING AND SUBSEQUENT IMPAIRMENTS."
"RiverLink was founded three-and-a-half decades ago, with the mission of promoting the environmental and economic vitality of the French Broad River and watershed. At that time, the River corridor was neglected, dilapidated, polluted and disconnected from the City of Asheville. Karen Cragnolin, our founder, was a visionary and tireless advocate for transformation, and much of what we enjoy in the River Arts District today is the result of her efforts, generous supporters and creative partnerships. I joined RiverLink just over two years ago and love the historical and current role RiverLink plays in the region. Partnership is at the heart of our work – from the Southside Community stormwater project to Woodfin Greenway Blueway (WGB) to Karen Cragnolin Park. We routinely work with municipal, county and regional partners and funders. WGB is a great example of a small community believing in a very ambitious project. Thanks to phenomenal leadership, citizen advocacy and funding, this $32 million project, including five miles of new greenways, two river parks and an in-river kayak wave, is coming to fruition. Projects like this can only happen with the commitment and collaboration of many. RiverLink greatly appreciates our 360-degree partnership with CFWNC. Whether we are applying for a competitive grant, receiving contributions from our supporters via your donor advised funds, or working with you on our endowed investments, CFWNC is a true partner in our success. We have tremendous confidence in CFWNC’s endowment model and are grateful for the decades of collaboration. For all the progress that has been made, we still face extraordinary challenges given the River’s enormous economic impact on the region and ongoing fragility today due to too much sediment loading and subsequent impairments. RiverLink remains a champion of creating climate resilient riverparks, greenways and public access and committed to our three programmatic areas – water resource management, youth education and land conservation. I love being part of RiverLink’s impactful legacy and carrying Karen’s vision forward with the talented staff, board and many generous supporters and funders. WNC is a special place, and RiverLink’s work attracts extraordinary human beings who care about the environment and generously invest their time, wisdom and philanthropy in the work." Lisa Raleigh RiverLink Executive Director
WORKING WITH NONPROFITS Grant Funding Most of CFWNC’s grants are donor advised and support hundreds of nonprofits. Grants from discretionary funds and field of interest funds align with CFWNC focus areas. Competitive grant programs and deadlines are listed in the grants directory at cfwnc.org. Contact: Diane Crisp, Senior Grants Manager 828-367-9904
Nonprofit Organization Funds CFWNC manages more than 210 funds for 132 nonprofit organizations across the region. This is an important and growing part of our work. Nonprofit assets under management total $98 million and account for over a quarter of all assets under management. Partnership with CFWNC allows nonprofits access to a sophisticated investment platform. CFWNC handles all investment management and oversight, including accounting, financial reporting and an annual audit. Organizations may wish to consider a nonprofit organization fund as a tool to build an endowment. Contact: Becky Davis, Senior Development Officer 828-367-9905
WNC Nonprofit Pathways CFWNC supports the efforts of nonprofits to be as efficient and effective as possible through WNC Nonprofit Pathways. Pathways is a funder collaborative that helps nonprofits become stronger and more sustainable. Pathways supports regional nonprofit leaders through workshops, trainings, coaching, forums, cohorts and capacity grants. Funders included CFWNC, Cherokee Preservation Foundation, United Way of Asheville and Buncombe County and WNC Bridge Foundation, with additional support from The Duke Endowment and Dogwood Health Trust. Contact: nonprofitpathways.org
Year End Report 2022-2023 / cfwnc.org / 15
Depth
O F
Commitment CFWNC support. Its staff recognizes the big picture and has been a critical partner for projects unique to land trusts that have benefited far-western North Carolina.” CFWNC has been deeply engaged with the Nantahala-Pisgah Forest Partnership for more than a decade. The group formed to provide public input to the Forest Service’s management plan. The health and management of the Forest affects us all and directly impacts thirteen of the eighteen counties CFWNC serves. The first grant to support this work was made in 2010; the most recent was approved in May.
CFWNC partners extensively with a committed network of land trusts and nonprofits working to protect natural resources. Many of these conservation projects also support economic development, as a healthy environment is good for people and business. Supporting natural resource initiatives also enables CFWNC to extend its reach in rural counties. CFWNC’s support of this type of work is long and deep. In 2015, a Natural and Cultural Resources grant supported a reconciliation process and a number of subsequent grants that resulted in the development of the Nikwasi Initiative and Cherokee Cultural Corridor. Led by Mainspring Conservation Trust, the effort prioritized community building and local leadership. Recently, Mainspring was awarded a $40,000 grant to complete necessary due diligence to acquire and remove the Ela Dam in Swain County adjoining the Qualla Boundary. Removal will open 549 river miles of the Oconaluftee River and its tributaries. The project is deeply collaborative and of significant social, environmental and cultural benefit. “The Ela Dam removal project is one we could not have pursued without help from CFWNC,” said Jordan Smith, Mainspring Executive Director. “Their funding allowed us to obtain the legal expertise to feel confident moving forward with such a complex project. This is only one example of the out-of-the-box projects Mainspring has undertaken with
16 / Year End Report 2022-2023 / cfwnc.org
In 2021, RiverLink completed an economic study of the French Broad River with CFWNC support. The data indicated that the total economic and fiscal impact of the River is $3.8 billion annually with an environmental impact estimate of $2.4 billion. The information is being used to engage industry, government, chambers of commerce, river users and the broader community to garner support for better protection of the River so it will remain an asset – for all of us.
THE HEALTH AND MANAGEMENT OF THE FOREST AFFECTS US ALL AND DIRECTLY IMPACTS THIRTEEN OF THE EIGHTEEN COUNTIES CFWNC SERVES.
Our natural assets underpin our way of life. In partnership with others, CFWNC funds have supported the Ecusta Trail in Henderson and Transylvania counties; inclusive growth in Old Fort; a wildlife safe passage on I-40 in the Pigeon River Gorge; and the Wolfpen Loop Trail connecting to the Wilderness Gateway State Trail that will link over 55,000 acres of conservation lands across Catawba, Burke, McDowell and Rutherford counties. These projects and others acknowledge that taking responsible and strategic care of our environment supports our quality of life and is good policy. People who live in our region care about clean water sources, farmland protection, economic opportunities in outdoor recreation, wildlife habitat, responsible growth and environmental stewardship. Our economy and environment are inextricably linked; forests and rivers cross boundaries and county lines. Our collective concern and care is a shared regional value, one that we can build on.
Photos from left: Ela Dam, courtesy of Mainspring Conservation Trust; left and above, courtesy of Nikwasi Initiative; top Ecusta Trail, courtesy of Conserving Carolina; and left, courtesy of Wildlands Network by Joye Ardyn Durham
Year End Report 2022-2023 / cfwnc.org / 17
J O H N
Hazlehurst
Photo courtesy of CFWNC
“IT IS PLEASING TO ME TO KNOW THAT IN ADDITION TO SATISFYING MY DESIRE TO GIVE BACK THAT I HAVE THE OPPORTUNITY TO MODIFY MY PLANS. MY LOYALTY IS WITH CFWNC. I'M STICKING WITH YOU.”
John Hazlehurst opened his first CFWNC fund in 2007 and his most recent in 2023. He now has a total of 24 funds, nineteen charitable gift annuities and five expectancy funds. He has worked closely with CFWNC to accomplish his charitable goals. Senior Development Officer Becky Davis opened all but one of these funds and met with John to talk about his partnership with CFWNC. “I’ve spent most of my life in Asheville, and I feel very attached to this place. It makes me feel good to be giving back, and I have found CFWNC to be a good match for my giving. In the process of wanting to make charitable gifts in the community, annuities ease some of my tax obligations, and the process is straightforward. Some people develop a feeling in life, certainly in the later stages of life, to want to return some of the benefits and gifts that their career has provided. Moreover, there are so many places to give. I am interested in cultural organizations and those serving people. It has been a real pleasure to think that, in some way, I am contributing to their function day-by-day and maybe as they grow. The Community Foundation has been so dependable, reliable and efficient. When I get the urge to do this, the staff responds quickly with all of the necessary paperwork. It works so well, and the funds are managed flawlessly. When it’s time for me to receive some of the interest back, it is always deposited right on time. There are no deficiencies or criticisms from my standpoint. Having the Foundation as the responsible custodian of the funds – to manage them and distribute them as one wishes – provides a great sense of comfort. I have had no concerns about how everything has been carried out, and the performance has been great. It is pleasing to me to know that in addition to satisfying my desire to give back that I have the opportunity to modify my plans. My loyalty is with CFWNC. I’m sticking with you.”
John Hazlehurst Fundholder and Philanthropist
WORKING WITH DONORS Giving CFWNC is here to help you support what matters to you. We offer personalized solutions and tax-advantaged strategies. We can help you develop a plan that meets your charitable goals.
Becoming a Fundholder You choose your level of involvement and decide whether to include others in giving decisions. Your giving will be acknowledged or can remain anonymous.
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 can be involved, ensuring coordination across your charitable, financial and estate planning.
Sound Investment Every fund is professionally invested, so gifts grow over time supporting more giving.
Grants Donor advised fundholders can make secure, online grant recommendations and monitor fund activity at any time. Staff are also available by phone and email.
Advice and Opportunity Upon request, we can share information about community issues and needs and make you aware of funding opportunities that align with your interests. Contact: Laura Herndon, Vice President, Development, at 828-367-9900.
Year End Report 2022-2023 / cfwnc.org / 19
Ye a r E n d Re p o r t 2 0 2 2 - 2 0 2 3 / c f w n c . o r g
Green River Narrows, photo by Derek DiLuzio
Partnership
W I T H P R O F E S S I O N A L
Advisors
Partnership with Professional Advisors
Professional Advisory Committee
CFWNC can help you integrate your clients’ business, personal and financial decisions with a customized charitable plan that reflects their giving priorities.
L. Daniel Akers, Jr., Beacon Pointe
CFWNC serves as a trusted philanthropic advisor, connecting clients with nonprofits, strategic giving opportunities and other fundholders who share their interests. CFWNC is a resource when clients want to give now or define a legacy for future giving. We provide expertise and guide the charitable conversation, confidentially and without a fee.
James W. Baley, Baley Law Firm PLLC 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 Rollin Groseclose, DMJPS PLLC
Thank you for your partnership and trust. Regional advisors are CFWNC’s most frequent source of referrals.
BJ Kilgore, The Van Winkle Law Firm
CFWNC offers advisors the opportunity to stay informed and connected. Subscribe to enews or learn more by emailing Laura Herndon at herndon@cfwnc.org.
Candace A. Mance, McGuire, Wood & Bissette Law Firm
Harris Livingstain, McGuire, Wood & Bissette Law Firm Shon Norris, Gould Killian CPA Group, P.A. Harli L. Palme, Modera Wealth Management Ashley Saville-Amtower, Roberts & Stevens, P.A. Townsend Tanner, Wells Fargo Advisors LLC, CFP® Carter Webb, The Van Winkle Law Firm, Chair
THE PROFESSIONAL ADVISORY COMMITTEE CO-INVESTED WITH CFWNC TO SUPPORT HUMAN SERVICE GRANTS TO HORIZONS AT CAROLINA DAY SCHOOL, MUSICWORKS, ONTRACK FINANCIAL EDUCATION & COUNSELING AND OPENDOORS OF ASHEVILLE.
Year End Report 2022-2023 / cfwnc.org / 21
Women
F O R
SINCE 2006, THE WFW GIVING CIRCLE HAS DISTRIBUTED MORE THAN $5 MILLION TO IMPROVE THE LIVES OF WOMEN AND GIRLS IN WNC. Bountiful Cities staff; photo by Michael Oppenheim
Women
P O W E R
T H RO U G H
CO L L E C T I V E
The grantmaking focus of WFW is to: • Help economically-disadvantaged women become more self-sufficient • Promote access to quality health care and advance healthy lifestyles • Ensure women and girls live free from intimidation and abuse • Ensure educational opportunities that help women and girls reach their full potential • Eliminate discrimination against women and disparate treatment based on gender • Promote access for women to legal services and equity within the justice system In 2023, six grants totaling $278,950 were awarded: $64,650 to All Souls Counseling Center over two years to expand trauma-informed mental health services to 240 women survivors primarily in Buncombe, Henderson, Madison, Haywood and Transylvania counties. $15,000 to International Friendship Center over two years to support the two staff members facilitating Grupos de Mujeres, a safe place for Latinx immigrant women living in the Highlands/Cashiers area to support each other and their communities. $49,350 to KARE to hire a part-time victim advocate and a part-time forensic interviewer to support its evidence-based, community-coordinated response to child abuse, neglect and exploitation in Haywood County. $35,000 to NAMI Western Carolina to hire a parttime staff person to recruit and train bilingual support group facilitators, offer groups in Spanish, and serve Spanish-speaking individuals, primarily in Henderson and Buncombe counties.
G I V I N G
$65,000 to OnTrack Financial Education & Counseling over two years to expand the Women’s Financial Empowerment Center’s programming to BIPOC communities, primarily in Buncombe and Henderson counties. $49,950 to Sistas Caring 4 Sistas over two years to support a move into an accessible and functional office that will help reduce adverse birth-related outcomes among individuals of color by providing doula services, advocacy and education.
Get Involved Join the Giving Circle - members make a tax-deductible contribution of $1,200 each year for at least three years; $1,000 is granted out and $200 supports operations. Membership currently exceeds 215 women. Give to The Women’s Fund – endowment proceeds help to fund the Women for Women grant program. In FY 2023, the Fund added $70,640 to the grant pool. Give to the WFW Endowment Fund that provides for the Giving Circle’s activities and sustainability. WFW is a leading voice on women’s issues in the region, educating and advocating for social change. The 2023 advocacy agenda includes: · Support equitable access to affordable, high-quality early care and education · Support policies that address and mitigate health disparities and that promote access to quality health care and advance healthy lifestyles · Support policies that protect informed individual choice and access to reproductive health care · Support voting access and fair representation in the democratic process, especially for those who have been targets of voter suppression
Left: Women for Women 2023 Grant Awards celebration, photo by Michael Oppenheim
Year End Report 2022-2023 / cfwnc.org / 23
R E G I O N A L
Affiliate
F U N D S
STARTING IN 1992, CFWNC ENCOURAGED THE GROWTH OF AFFILIATE FUNDS TO BUILD CHARITABLE CAPITAL ACROSS THE REGION TO ADDRESS LOCAL NEEDS. IN 2023, CFWNC’S NINE AFFILIATES CONDUCTED GRANT CYCLES TOTALING $860,070 THAT DISTRIBUTED FUNDS TO EVERYDAY HEROES DOING GOOD WORK CLOSE TO HOME.
Black Mountain – Swannanoa Valley Endowment Fund Established in 1999; June 30 assets* surpassed $2.6 million Advisory Board Members: Sylvia Bassett, Kannah L. Begley Walker (Chair), Jose Bello, Mary Anna Belz, Amy Berry, Jon D. Brooks, Esteve Coll-Larrosa, Margaret Fuller Hurt, Rodney L. Lytle, Bradley McMahan, Sheila H. Showers, Joseph Standaert, and Betsy Warren. *The Advisory Board also makes grants from the Buckner Family Endowment Fund, Helen S. and Jerry M. Newbold, Jr. Endowment Fund, Forbes Fund for Black Mountain-Swannanoa Valley, and Standaert Family Endowment Fund. Cashiers Community Fund Established in 1992; June 30 assets* surpassed $3.6 million Advisory Board Members: Trace H. Baker, Lisa Bates, Christopher Dyer, Joyce Wellman Fisk, Paiden Hite, Leah Horton, Melissa Warren Hudson (Chair), Carol Hunter, Harriet Karro, Kati Miller, Laura Moser, and Susan Yow. *The Advisory Board also makes grants from the Lyn K. Holloway Memorial Fund. The Fund for Haywood County Established in 1994; June 30 assets* surpassed $1.5 million Advisory Board Members: Angela Bleckley, Adam Bridges (Chair), Kim Ferguson, Jeff Haynes, Susan Hooper, Joan Kennedy, Chris Kuhlman, Jeff Lee, Terri Manning, Steve McNeil, Kristina Proctor, Jonathan Song, Amy C. Spivey, Mathew Underwood, and Eric Yarrington. *The Advisory Board also makes grants from the J. Aaron and Adora H. Prevost Endowment Fund and Mib and Phil Medford Endowment Fund. Highlands Community Fund Established in 1996; June 30 assets* surpassed $2.3 million Advisory Board Members: Lisa Armstrong, Anne Bailey, Gerry Doubleday, Florence Holmes, Colleen Kerrigan, Jim Landon, Libby Lanier, George Manning (Chair), John Mitchener, Jeff Nixon, Amanda Reames, Diane Riddle, Cindy Trevathan, and Jeff Weller. *The Advisory Board also makes grants from the Mildred Miller Fort Charitable Fund. The McDowell Endowment Established in 1995; June 30 assets* surpassed $1.2 million Advisory Board Members: Jim Burgin, Vicki Burton, Nakia Carson, Marsh Dark, Kimberly Effler, Courtney Morris
Gardner, Steve Jones, Ryan Kelley (Chair), Michael Lavender, Patt Medders, Rob Noyes, Sharon Parker, Arthur Parks, Sandra Precoma, and Bobbie Young. *The Advisory Board also makes grants from the Margaret Westmoreland Gibson Memorial Fund, Greenlee Family Fund, A.C. Hogan Family Fund, and Daniel I. and Joy Q. Shuford Fund. The Fund for Mitchell County Established in 1999; June 30 assets surpassed $1.1 million Advisory Board Members: Beverly Ayscue (Chair), Robin Buchanan, Christopher Day, Kathey Hollifield, Stuart Jensen, Nicholas Joerling, Andy Palmer, Geraldine Plato, Suzanne B. Russell, Zan Sistare, Brenda H. Sparks, and Diane W. Walker O.D. Rutherford County Endowment Established in 1996; June 30 assets surpassed $2 million Advisory Board Members: David Eaker (Chair), Nancy Giles, Jean Gordon, Jackie Hampton, Eddie Holland, Sally Lesher, Marla Machado-Arce, Wilfred McDowell, Tom Miller, Jill W. Miracle, Pell Tanner, Dennis Tarlton, Robin Van Jura, and Michelle Yelton. Transylvania Endowment Established in 1998; June 30 assets* surpassed $2.1 million Advisory Board Members: Nick Bearden, Don Bieger, Beth Lastinger (Chair), Scott Latell, Rob Lee, Caroline McKenzie, Michael Pratt, Jason Ramsey, Nancee Salyer, Mark Shevory, John Shoemaker, Bruce A. Snyder, and Judy Welch. *The Advisory Board also makes grants from the Aleen Steinberg Endowment Fund, Richard G. Adamson Memorial Fund, DuncanBicknell Endowment Fund, Burlingame Charitable Fund, Lake Toxaway Charities Endowment Fund, Bobby Orr Memorial Fund for Transylvania County Sheriff’s Department, Karen Wilde Memorial Fund for Brevard Police Department, Holbrook-Nichols Transylvania Housing Assistance Fund, My Brother’s Keeper Fund, and Connie Boylan Fund. The Yancey Fund Established in 1998; June 30 assets* surpassed $2.7 million Advisory Board Members: Jim Ashton, Jill Austin, Gretchen Banks, Amber Westall Briggs, Olivier Calas, Dr. Monica Carpenter, Jim Gentry Jr. (Chair), Jayne Ellen Hunt, Mark Mitchell, Calvin Rash, Julia Silvers, and Gregory Stella. *The Advisory Board also makes grants from the Bailey-Hilliard Fund. Photos, clockwise from top, courtesy of Folkmoot, Boys and Girls Club of the Plateau, Asheville Area Habitat for Humanity, St. Gabriel Jericho Soup Kitchen and The Literacy and Learning Center
Financials
$34 MILLION
$30.8 MILLION
Total Grants Total Gifts and Scholarships
$408 MILLION Total Assets as of 6/30/2023
A Diversified Portfolio 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.
Investment Performance 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 to achieve a total return of CPI + 4.5% over a full market
cycle. The CFWNC Investment Committee manages multiple portfolios, constructed with differing mandates and risk tolerances for investment of component funds, in pursuit of this objective. CFWNC also maintains valued investment management relationships with the following firms: Altamont Capital Management, Beacon Pointe
View audited financial statements, tax returns and learn more about our investment program at cfwnc.org.
Asset Allocation
Annualized Investment Returns
as of 6/30/23:
Through 6/30/23
CFWNC
Advisors, Boys Arnold & Company, Colton Groome & Company, Merrill Lynch, Modera Wealth Management, Peoples United Advisors, Inc. (CT), Raymond James & Company, Signature Wealth Strategies and UBS Wealth Management.
*Benchmark
Global Asset Allocation .7% Balanced Manager 2.9% Global Equity 53.5% Fixed Income & Cash 24.2%
Real Assets 4.2% 8.3%
9.8%
1 YR
5.9% 5.3%
4.6% 5.8%
5.6% 6.4%
3 YRS
5 YRS
10 YRS
Alternative Investments 14.5%
*The Benchmark is 60% MSCI All-Country World Index, 40% Barclays Aggregate Index. / Investment returns are reported net of investment expenses.
STATEMENT OF FINANCIAL POSITION Assets
Cash & cash equivalents Prepaid expenses Accounts receivable Note Receivable Investments without donor restrictions Property and equipment, net Investments with donor restrictions
Total assets
2023
2022
17,941,319 60,266 130,180 3,000,000 86,365,782 1,960,714 298,364,807 407,823,068
24,008,435 26,252 127,495 82,623,135 2,039,120 278,231,783 387,056,220
Liabilities and Net Assets Liabilities Grants and scholarships payable Accounts payable and accrued liabilities Liabilities under split-interest agreements Funds held as agency endowments
Total liabilities
538,431 64,356 3,628,521 98,853,434 103,084,742
Net assets
514,566 38,836 4,582,186 98,263,590 103,399,178
Without donor restrictions With donor restrictions
6,373,519 298,364,807 304,738,326
5,425,259 278,231,783 283,657,042
Total liabilities and net assets
407,823,068
387,056,220
2023
2022
22,798,445 3,886,673 17,745,066 586,401 620,933 58,000 12,242 45,807,760
30,677,191 2,824,574 (39,810,337) (1,008,457) 678,898 58,011 140,872 (6,439,248)
Total net assets
STATEMENT OF ACTIVITIES
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
Expenses Grants & Program services Supporting services
Total Expenses Change in net assets Net assets, beginning of year Net assets, end of year
22,678,758 2,047,718 24,726,476
22,970,811 1,741,727 24,712,538
21,081,284
(31,151,786)
283,657,042
314,808,828
304,738,326
283,657,042
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. 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.
BOARD OF DIRECTORS J. Chris Smith, Chair Joanne Badr Vice-Chair and Secretary Heather P. Norton Treasurer Caroline M. Avery Natalie N. Bailey Carla Barnard Milton Butterworth Ellen O. Carr Francisco Castelblanco Yolanda Fair Constance M. Haire Himanshu Karvir Harris M. Livingstain Jean McLaughlin Scott Shealy Sharon Fouts Taylor Carter B. Webb Juanita Wilson
FO U N DAT I O N STAF F Philip Belcher Vice President, Programs Elizabeth Brazas President Spencer Butler Senior Donor Relations Officer
Laura Herndon Vice President, Development
CREDITS
Graham Keever Chief Financial Officer
Writing/Editing Lindsay Hearn/Diane Crisp
2022 - 2023 Annual Report:
Julie Klipp Chief Operating Officer
Design Indigo Design/Sheri Lalumondier
Diane Crisp Senior Grants Manager
Amy McGuire Donor Relations Associate
Printer BP Solutions Group
Melissa Crouse Finance Associate
Meagan McNairy Office Administrator
Becky Davis, CFRE Senior Development Officer
Alana Nottage Leadership Associate
Naomi Davis Finance and Human Resources Officer Virginia Dollar Senior Program Officer Melissa Edgington Development Associate Angela Farnquist Donor Relations Officer Amber HarrelsonWilliams Program Associate Lindsay Hearn Communications Director
28 / Year End Report 2022-2023 / cfwnc.org
Lezette Parks Scholarship and Program Officer Tara Scholtz Senior Program Officer Janet Sharp Senior Staff Accountant Sally Weldon Director of Information Technology
Special thanks to photographer Derek DiLuzio for working with us to capture the beauty and power of just a few of the waterways that cross our region. derekdiluzio.com
Fishing on the South Toe River, photo by Derek DiLuzio
4 Vanderbilt Park Drive, Suite 300 Asheville, NC 28803
cfwnc.org / 828-254-4960
Confirmed in compliance with national standards for US Community Foundations
Confluence of the Cane and Toe rivers bordering Mitchell and Yancey counties, photo by Derek DiLuzio
