Annual Report
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TribuTe
Clarissa Porter A tribute to one of our founders in late December 2012, all of us at the Community Foundation were saddened by the news of the death of Clarissa Porter, one of our founders. Clarissa spent many summers on Nantucket after inheriting her family’s house on quince Street, and worked tirelessly to support the historic preservation of houses, including her own, on the island. The interior features of her house are protected in perpetuity by a preservation restriction she established through the Nantucket Preservation Trust. eileen McGrath, Community Foundation Trustee, remembers, “i first met Clarissa when she was a young student at Lincoln School in Providence where i taught. We remained close and, in 2005, she coaxed me to attend a meeting to hear about plans for a group ‘working for the good of Nantucket.’ That group turned out to be the Community Foundation for Nantucket!” All of us at the Community Foundation are grateful we had the opportunity to know Clarissa and share her love of Nantucket — we will truly miss her grace and humor, and thoughtful reflection.
beq ueSTS
What will your legacy be? When you make a bequest to the Community Foundation for Nantucket, you make a difference! A gift to the Community Foundation now, or planned in the future as a bequest in your will, is a chance to make a real difference to Nantucket’s future. There are many ways you can tailor a bequest to suit your personal preferences and circumstances. Your estate attorney will explain the procedures for making a bequest. The Community Foundation recognizes and thanks friends who have arranged a bequest or made planned gifts to the Foundation. Anyone who informs us that the Foundation is named as the beneficiary of a gift through his or her estate, or through a planned gift during his or her lifetime, is automatically enrolled as a member of the Foundation’s Legacy Society.
The most common types of bequests include: • a percentage of your estate • a specific cash sum bequest • a residual bequest
You can make a difference— help us protect Nantucket’s future.
2012 Highlights 2012
Looks like we’re on the right track! 2012 was another year of significant success for
by the numbers
your Community Foundation.
You have made this possible! We are proud of the progress we’ve made, and equally proud of the confidence the Nantucket community has shown in us. Thanks for
36 number of funds administered, an increase from 26 in 2011 See PAGe 12 For CoMPLeTe FuND LiSTiNG
supporting so many local initiatives through the funds we hold, as well as
1.98
$
contributing directly to us for Foundation
Million
support. We will continue to work hard to sustain your trust. Please continue to help
total assets increased from $1.28 million
us as we invest in Nantucket – Today and
See PAGe 15 For AuDiTeD FiNANCiALS
Tomorrow.
Best wishes for a happy and healthy 2013!
177 the total number of grants made to nonprofits increased from 125
177,334
$ Phillip F. Stambaugh
Margaretta S. Andrews
President
executive director
amount of grants given, increased from $144,686 in 2011 See PAGe 11 For GrANT LiSTiNGS 3
What People are Saying the community Foundation has been very successful in helping new, small nonprofits get started on their way to becoming independent charitable organizations. below are testimonials from three such groups, in varying stages of the process to obtain their 501c3 designation from the internal revenue service.
TeSTiMoNiAL
on behalf of Mentoring Youth nantucket (MYNantucket) i feel it necessary to thank the Community Foundation for Nantucket for all their help and support. in addition to their generous financial support of our very successful breakfast buddies program in the Nantucket Public Schools, Community Foundation was crucial to the success of the start-up of our new Nantucket agency. in April of 2012, we separated from big brothers big Sisters of Massachusetts to become Mentoring Youth Nantucket in order to better serve Nantucket kids and families with our mentoring programs. Although we applied for a 501(c)3 designation at the time of the separation, it took close to 10 months to be granted irS nonprofit status. We went to Community Foundation for help during this process to ensure that our many financial supporters would get the full tax benefit of their charitable contributions to MYNantucket. Community Foundation’s service was invaluable to us and worked seamlessly. Through our Mentoring Youth Nantucket Fund with the Foundation we were able to accept donations and pay MYNantucket’s bills. in addition to providing us with those services, Community Foundation staff was incredibly easy to work with, responsive, patient, informative and timely. We can’t thank the Community Foundation enough for helping us through our initial start-up. Community Foundation provides a crucial and necessary service to the Nantucket not-for-profit community, and ultimately to the kids and families of our island. David E. Zieff exeCuTive DireCTor MeNToriNG YouTh NANTuCkeT
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TeSTiMoNiAL
nantucket Safe Harbor for Animals (NShA) is enormously grateful to the Community Foundation for Nantucket. We didn't know where to turn or what to do about raising funds while we went through the tedious and time consuming process of establishing ourselves as a bona fide 501 (c)(3). Then i learned that's exactly what the Community Foundation is all about: helping the island's non-profits do what they need to do. Not only did they make it possible for us to accept tax deductible donations immediately, they gave sound financial and structuring advice, paid our bills out of the fund they created and even found a forever home for one of our homeless dogs! Starting up a new nonprofit enterprise is a lot of work and can be scary. knowing Margaretta and the Community Foundation had my back made a world of difference. NShA continues to benefit from their expertise as grant recipients and soon-to-be investors in their portfolios. Pam Murphy NANTuCkeT SAFe hArbor For ANiMALS
TeSTiMoNiAL
The Community Foundation for nantucket provides many valuable services to the island, but their support of island nonprofits and nurture of fledgling nonprofits is of particular interest to me. Through my past work with the Siasconset Chapel and current work with the Nantucket book Festival, i have seen the Community Foundation at work: managing funds, processing gifts, promoting new events and offering guidance. As a consultant to nonprofits i look forward to working with Margaretta and her staff. Elizabeth Green Grubbs CArviN ASSoCiATeS 5
2012 contributors Community Foundation operating Fund $10,000+ ellen & christopher hoeffel victoria mcmanus & John mcdermott mr. & mrs. John b. Penrose reinberger Foundation mrs. W. Laird stabler Jr
$5,000 – $9,999 heinz Family Foundation the Lindsay Foundation dr. & mrs.* William Porter
$1,000 – $4,999 Akers Family charitable Fund sam & Janet bailey Joan & curtis barnes W. Geoffrey beattie cape cod Five charitable Foundation Ann colgrove & Larry smith marianne & bob Felch mary h. Fontaine Peggy Gifford the Gilbert verney Foundation doug & Karen Grip thomas hagan hale Family Foundation the Judy Family Foundation david Juge & Anne Wallace marsha Kotalac Lindsay, inc. Livingston Family Fund John & Judith Lochtefeld Zeldy Lyman mr. & mrs. thomas o. maggs mr. & mrs. richard oman susan & Karl ottison melissa & nathaniel Philbrick mr. & mrs. Phillip F. stambaugh Planning & econ. develop. commission bob & nancy Puff Jay & clare Walker Wareing Fund Will brown donor Advised Fund suzanne & bob Wright
$500 – $999 daniel blumenthal mr. & mrs. robert egan mr. & mrs. Joseph Freeman Geronimo's, Ltd. Wade Greene sara Jo Kobacker 6
Langer Family Fund the rev. & mrs. eugene c. mcdowell Jason michel the rev. Georgia Ann snell stephen A. davis Fund u.s.trust, Private Wealth management Warren & susan stern Family Fund
Up to $500 sheila & mohan Advani mr. & mrs. thomas Anathan Linny & rich Andlinger margaretta Andrews Anonymous Gift robert & barbara bailey mr. Kenneth bartels & ms. Jane condon mr. & mrs. c. marshall beale Judith & John belash mr. & mrs. Paul bennett mr. & mrs. edward bent Karen borchert Anne bradt martha butler Kathy & George butterworth shirley cabral John W. carpenter carver/delaney Families Foundation cynthia s. chase Judy collatz Katherine m. cuddy daniel & Judith drake tharon & Lee dunn eleanor & henry o'neill Family Fund robert & Janet emack robert s. erskine Jr. Jacsin & eric Finger mr. & mrs. Josef Fischer margaret Gilfoy mr. & mrs. John P. Girvin craig hawkins & stan harvey mr. & mrs. d. michael herlihy eric holch mr. & mrs. donald W. holdgate sr. diane h. Karper mr. & mrs. John Keeshan travis m. Kessock the rev. & mrs. Gary Klingsporn sara Jo Kobacker chris & Pam Lohmann deborah Lothian Philip & carol Ann marks harvey & chris matthews ms. eileen P. mcGrath brook meerbergen John & Jane miller
timothy J. moran chris mortenson nantucket bookworks Peter & sally nash Al & mary novissimo mr. & mrs. Frank obrien Jr. eleanor & henry o'neill K.s. overlock magdalena Padzik Abby & steve Perelman sheri & James Perelman Philip & claire raneri diana regan mary reichl mrs. h. Ward reighley William & deborah roberts Peter & nancy rodts Ferdinand & Janet schmitz don & mary shockey mr. & mrs. d. van smith ms. Penny F. snow mr. & mrs. L. Phillip snyder Lisa & Kenneth soeder mr. & mrs. ramsay c. stabler mr. & mrs. W. Laird stabler iii morgan stanley steve Gibson Landscaping Anne & bob stock mr. & mrs. Jack sullivan mr. & mrs.* J. Arnold teasdale mr. & mrs. richard d. thomson mr. & mrs. michael d. varbalow charles & nancy Walters robert F. Winn mimi young robert young & Kathryn Kay christine & James Zampell
nantucket Fund™ (Endowment) catherine & michael Farello mr. & mrs. eric n. Ferguson the Gordon & Llura Gund Foundation ms. martina halsey mr. & mrs. charles Lord Patricia rottmeier Peter & morna ryan mr. robert F. Winn
Peggy Gifford Endowment Fund Jebb Agnew margaretta Andrews Anonymous Gift carol Applegate vAdm & mrs. Jack baldwin usn (ret) Kay ball * deceased
James s. bennett rhoda L. & roger m. berkowitz mr. & mrs. William W. boeschenstein Joan r. bolling sheila robinson book George & nancy brannock martha butler david h. carter tim cashman Fred cohn & mike Watts Ann colgrove & Larry smith mimi & richard congdon mr. & mrs. samuel P. cooley bob & marsha egan roy enoksen marianne & bob Felch mary d. Foster Jeannette & George Fowlkes dr. John W. Gerster & Family Anne & Whit Gifford chuck, Julie & connor Gifford Jenny Gifford Prosser Gifford Wendy Gifford & Gerald degenhardt mr. & mrs. Garret A. Gifford Wade Greene Joan haigh Lucile & bill hays mr. & mrs. James herman rose marie Johnson mr. & mrs. raymond Jones Patricia h. Kotchen Guy & rosa Lee mabry carolyn & ian macKenzie roland & sally macnichol mr. & mrs. thomas o. maggs barbara malcolm Janice macAvoy & Johnson mcKelvy Kitty beth millhon elizabeth murray Lilia G. nash Peter, sally, Andrew & deneige nash the nelson mead Fund mr. & mrs. richard oman Peter orser susan & Karl ottison mr. & mrs. John b. Penrose Lynn Petrasch Phillip F. & beverly t. stambaugh Fund barbara & tim reed Westy & vicki saltonstall carter smith barbara southwell suzi spring mrs. W. Laird stabler Jr stacey stuart mr. & mrs. michael varbalow Prosser m. Watts Jr. carolyn Weld mr. & mrs. christopher s. Welles Georgia F. Welles mimi young John A. Zinke
Community & Matching Grants Fund Anonymous cricket donor Advised Fund dragonfly donor Advised Fund drial donor Advised Fund marianne & bob Felch the honorable William h. Frist, m.d. hale Family Foundation ellen & christopher hoeffel marsha Kotalac eileen P. mcGrath victoria mcmanus & John mcdermott nantucket Fund™ nantucket combined charities, inc. mr. & mrs. richard oman mr. & mrs. John b. Penrose Lynn Petrasch mr. & mrs. nathaniel Philbrick Phillip F. & beverly t. stambaugh Fund remain nantucket, LLc schmidt Family Foundation siasconset union chapel outreach Fund mr. & mrs. michael d. varbalow mimi young
stuart Porter Kevin ryan visco Pumping inc. maryanne & dale Waine Kyle Wallingford robert Wellen buzz Williams Phil Witte
Grey Seal Research Fund hannah Judy & randy Gretz the Judy Family Foundation mr. & mrs. stephen o'brien david & elizabeth Powell Guy & diane snowden twin beeches Foundation
Gary M. DaSilva Memorial Fund Anonymous Keith Arsenault steve boukus dan & ellyn casey John daniels edmond t. debross Kimbrough dilworth Kevin dineen richard earle robert emack Faunce corner Properties, inc. richard Glidden Goldberg Family trust manuel A. Goulart John Grangrade Jr. thomas halford Kenneth hammond dale harrington James d. holdgate George hornyak Fred Johnson chris Kling John G. Liarikos ii dennis Lynch maclean charitable Foundation Philip marks Jr. Jay mcconnell robert morgenstern Wayne morris John murray nantucket Golf management inc. John o'neill Pier Fish co., inc.
Gutsy Givers Fund Patricia barone Phyllis burchell Judith collatz mary ellen dineen marsha egan sheila egan darcey Fisher bee Gonnella Louise hourihan Wendy Jannelle brenda Johnson Lynne Kalman marsha Kotalac barbara e. Kotalac Kathleen Legg nina Locario suzy moore courtney o’neill susan ottison sherry Perelman Kathleen Psaradelis Julie reinemo Priscilla reis roberta reis Phyllis slattery susan thurston diana Wallingford Pamela A. Wellen mary Williams
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2012 contributors Hummock Pond Road Bike Path Fund Anonymous susan Ayd bainco international investors Fund mr. & mrs. harrison bains david & beverly barlow bartlett's ocean view Farm, inc. Ginny bayless bill & Kathy beattie carole P. beller deborah bennett mr. & mrs. edward s. bent Amy & ben bloomstone Joan r. bolling John braestrup diane L. buechel carol march emerson cross Fund susan chambers Jeff crowley tracy Ann daily mr. William b. duane duggan Family dan & shellie dunlop Paul & marion eklund betsy m. erisman barbara J. Fife sandra Flavin Linda Gayle & Peter Lee marin Gibson & ray martinez the Gunnigle Family Aldona hamel Jason harman Janice r. harris Kyra haydock thomas b. healy Kenneth A. hilbig mr. & mrs. richard illingworth James & regal Families mr. & mrs. michael Jemison mr. stephen Jennings & ms. monica o'neil carol b. Langer deborah Lewis mr. & mrs. dual A. macintyre Jr. marc & robin Walpow Family Fund the mccluskey Family richard & rosemary mccready Jane & rory mcneil brook r. meerbergen mr. & mrs. richard millard mrs. emilia m. miner Allen & morgan morton Wilhelmina moyer Laura mueller mignon mullen susan m. o'brien Kate o'riordan mr. & mrs. stephen Paradis
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Judith Paterson richard Peterson & ellen Flamm david Petrie Judith W. Prohaska mr. John rizzo & ms. barbara matteucci Jill & steven roethke rose & Lewis rubin samantha b. rudofsky Judith K. rushmore robert russell & stephen delay Peter & morna ryan diane ryan Janice savery mr. & mrs. robert schwed barbara & dick skelly Jane soderberg mimi & barry sternlicht mr. & mrs. Peter stokes brian sullivan brendan & Kerry swords tom & monica mccasland donor Advised Fund tim tuttle the rev. terry Anne vigil dr. & mrs. Len Waldman mr. & mrs. John e. Warner mr. & mrs. robert d. Williams ms. Lisa Winn & mr. eliot Lees Paul & margaretta yurkosky mr. & mrs. James Zampell
Anne e. mccollum mr. & mrs. Jeffrey A. mcdermott Julie & stan morton n, the nantucket magazine nantucket Arts council nantucket combined charities, inc. nantucket Garden club heather reisman Linda & harvey saligman Wendy schmidt Alan & nancy schwartz the schwartz Family Foundation second congregational meeting house society unitarian universalist mr. & mrs. hercules segalas barbara tibbetts the rev. terry Anne vigil ms. suellen Ward
Mentoring Youth nantucket Fund
margaretta Andrews Al & mary novissimo susan & Karl ottison
nantucket Golf club Foundation, inc. nantucket island resorts nantucket Permanent Firefighters Association charitable Fund Al & mary novissimo remain nantucket, LLc robert & marsha egan Family Fund tupancy-harris Foundation
nantucket Book Festival Fund Annye's Whole Foods Anonymous Gift Ann L. bissinger & mark W. Poor meghan blair-valero cape cod Five cents savings bank Lynne m. celli Ph.d. darya salon Lee & tharon dunn mr. mark P. Famiglio marianne & bob Felch mr. & mrs. robert haft mr. & mrs. James haslam iii elin hilderbrand island Properties, inc.
nantucket Schools Bike Rack Fund mr. & mrs. William buck mr. & mrs. david Fine mr. & mrs. Graham Gund mr. & mrs. dennis Keller mr. & mrs. r. James nicholson mr. Kenneth sweet
Roundabout/Rotary Beautification Fund
nantucket Safe Harbor for Animals Fund the 1830 Family Foundation Kathy & mark Adams Annye's Whole Foods ms. christy bassett & mr. Jonas baker Katherine h. delaney ms. trudy dujardin Gordon & Llura Gund donor Advised Fund candy & tom Greig ms. susan heath mr. & mrs. ron Jackowitz ms. Judith F. Lee msPcA Angell carol A. muehling nantucket island management nantucket island resorts Karen nelson & steve Papamarcos mr. bruce Poor & ms. Gloria Grimshaw ms. Joan rogliano
ms. Joan stockman mr. & mrs. scott stratton mr. thomas m. taylor mrs. Will Waller the William Froelich Foundation ms. sherrill Wilson-Liljegren Lisa Winn & eliot Lees
nantucket Project Fellows Academy Fund Joshua c. block the diamond Family Foundation mr. & mrs. robert diamond the dorothy cate & thomas F. Frist Foundation Goldman, sachs & co Karp Family Foundation maureen o. & James t. hackett Fund Alicia cannon mullen
t. clark munnell Jr. Peter & nancy Allatt Family Foundation Wendy & eric schmidt
White Heron Theatre Fund mr. & mrs. Anthony d'ermes remain nantucket, LLc
Scholarship Funds dorothy W. & Philip bartlett mr. & mrs. Jonathan h. brown Kristin & david dussault Geronimo's, Ltd. nantucket Golf club Foundation, inc. helen trebby
Donor Advised Funds margaretta Andrews mr. & mrs. robert W. blucke mr. & mrs. Jonathan h. brown mr. & mrs. robert egan the Gordon & Llura Gund Foundation mr. & mrs. Lucian Leape susan & Karl ottison r. A. egan sign & Awning co, inc. mr. & mrs. Phillip F. stambaugh
Robert & Eleanor Jones Fund for Adult literacy nantucket combined charities, inc.
2011–12 tribute Gifts tribute gifts include donations made in honor of and in celebration of people and special events
in Honor of… Dr. & Mrs. Mohan Advani Susan & Karl Ottison Max berry Susan & Karl Ottison Loren brock and Gavin Jones Dr. & Mrs. William Porter Jim & Gail Chase Susan & Karl Ottison barry & Sue Cooper Joe & Linda Hale Mr. & Mrs. Tyler Dixon Mr. & Mrs. D. Van Smith Mr. & Mrs. Dan ellis Mr. & Mrs. D. Van Smith Ann Fitzgerald and eric Savetsky Dr. & Mrs. William Porter David & Grace Gleason Susan & Karl Ottison Phyllis & Leonard Greenberg’s Anniversay Mr. & Mrs. Michael Varbalow Joe & Linda hale Kenneth Bartels & Jane Condon Susan & Karl Ottison
Margaret hallowell and Steve Langer Dr. & Mrs. William Porter bill & Lucile hays Susan & Karl Ottison Mr. & Mrs. Philip Stambaugh Judith hope and Tom Twomey Dr. & Mrs. William Porter Louise & bill hourihan Dorothy Savarese Mary Jennings Dr. & Mrs. William Porter Anne Lanman & vaughan Machado Mr. & Mrs. Philip Stambaugh Mr. & Mrs. bruce Lawler Joe & Linda Hale rich and Pam Merriman Dr. & Mrs. William Porter Mimi Merton Dr. & Mrs. William Porter David & Amy oman Mr. & Mrs. Steve Horne Dick & Jane oman Mr. & Mrs. Steve Horne
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Tribute Gifts in Honor of… Dick oman’s birthday Mr. & Mrs. Steve Horne
Lisa Soeder Joe & Linda Hale
Mr. & Mrs. karl ottison Mr. & Mrs. D. Van Smith
Sheila and bill Sullivan Dr. & Mrs. William Porter
bill & Clarissa Porter John W. Carpenter
Dr. James and Anne Sutherland Dr. & Mrs. William Porter
The revs. bob & Jeannette reese Mr. & Mrs. D. Van Smith
David Troast’s Participation in Pan Mass. Challenge Donald B. Shackelford Donor Advised Fund
Mr. & Mrs. brock rowley Mr. & Mrs. D. Van Smith
elizabeth S. Whalley Dr. & Mrs. William Porter
Ann & van Smith & Family Karl & Susan Ottison
Memorial Gifts memorial gifts include donations made in memory of members of the nantucket community
in Memory of… Louise benoit Susan & Karl Ottison Michael & Barbara Varbalow Joseph Cabral Phyllis Burchell Susan & Karl Ottison Joan Craig Phyllis Burchell Jean egan Mr. & Mrs. Robert Egan bill haddon Susan & Karl Ottison
Wayne holmes Phyllis Burchell
ellen Nora Toombs Phyllis Burchell
else Long Michael & Barbara Varbalow
Doug unruh Susan & Karl Ottison Dr. & Mrs. William Porter Mr. & Mrs. Phillip Stambaugh
Phyllis Perelman Susan & Karl Ottison Clarissa Porter Dr. William Porter Mr. & Mrs. Michael Varbalow Jane Stroup Susan & Karl Ottison
Joe Welch Susan & Karl Ottison Nancy Whitcomb Christie Whitcomb Susan & Karl Ottison
legacy society the community Foundation recognizes and thanks friends listed below who have arranged a bequest or made planned gifts to the Foundation. nancy chase marsha egan Zeldy Lyman thomas maggs victoria mcmanus
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richard h. and Jane oman John Penrose Lynn Patrasch Phillip F. & beverly stambaugh
Grants Community Grants A safe Place Artists Association of nantucket Friends of nantucket Public schools hope dementia & Alzheimer's services inky santa's toy drive mentoring youth nantucket nantucket Aids network nantucket Atheneum nantucket center for elder Affairs nantucket community music center nantucket community sailing nantucket community school nantucket cottage hospital nantucket Family Planning nantucket Food Pantry nantucket historical Association nantucket ice nantucket rental Assistance Program nantucket s.t.A.r. nantucket safe harbors for Animals nantucket visiting nurses Association national Alliance on mental illness cc&i Palliative & supportive care of nantucket Foundation sustainable nantucket theatre Workshop of nantucket
Donor Directed Grant Recipients A safe Place Albert F. egan, Jr. & dorothy h. egan Foundation America's classic 12 metre sailing Foundation Artists Association of nantucket Autism speaks boston university choate rosemary hall Foundation dartmouth college eleutherian mills — hagley Foundation habitat for humanity nantucket homestead, inc. of nantucket inky santas toy drive Lyndon state college montessori children's house of nantucket mount st. scholastica nantucket Aids network nantucket Arts council nantucket Atheneum nantucket boys & Girls club nantucket center for elder Affairs nantucket community music center nantucket community sailing nantucket community school nantucket conservation Foundation nantucket cottage hospital nantucket dreamland Foundation nantucket Firemen's Association nantucket Golf club Foundation nantucket historical Association nantucket Lighthouse school
nantucket maria mitchell Association nantucket musical Arts society nantucket Preservation trust nantucket Public schools nantucket s.t.A.r. nantucket safe harbor for Animals nantucket therapeutic equestrian center — seaPony Farm new england Life Flight — boston medFlight ohio state university Palliative and supportive care of nantucket Foundation Pan massachussetts challenge trust Prospect hill cemetery charitable trust rockhurst university salve regina university sankaty head Foundation sconset trust second congregational meeting house society unitarian universalist small Friends on nantucket st. mary’s — our Lady of the isle sustainable nantucket theater Workshop of nantucket tower hill school town of nantucket tuckernuck Land trust university of massachusetts vassar college WcAi Fm 11
2011–12 new Funds Geronimo’s Scholarship Fund Jan Jaeger, owner of Geronimo’s pet supply store, established this scholarship fund to provide tuition assistance to students or community members interested in pursuing studies or training in an animal-related field.
Peggy Gifford Endowed Fund Peggy Gifford, cFn’s first President, has been a tireless advocate for the Foundation and is responsible for much of its early success. to honor the retirement of Peggy in June of 2012, the board of trustees established an endowed fund in her name for the benefit of cFn’s operating expenses.
Gray Seal Research Fund started by a group of citizens concerned about the environmental, economic and cultural implications of the presence of gray seals on nantucket, this fund is seeking to provide monies for research and dissemination of information about their numbers, behavior and all factors that affects behavior.
Robert and Eleanor Jones Fund for Adult literacy the income and principle from this fund will be distributed to the Literacy volunteers of the Atheneum for annual support of their literacy programs on nantucket.
Robert and Marsha Egan Family Fund this is a donor Advised Fund set up by cFn board member marsha egan, and bob egan, for the purpose of directing their family charitable giving.
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Rotary/Roundabout Beautification Fund milestone road’s rotary and the sparks Avenue roundabout are on two of nantucket’s most heavily traveled routes. this fund was created to provide resources to ensure that the landscaping of our island rotaries is beautifully designed and professionally maintained for now and into the future.
TnP Fellows Academy Fund the nantucket Project is a forum for individuals who believe that exposure to ideas creates the spark which ignites positive change in our world. by providing scholarships with the support from this fund for qualified candidates to attend the forum, the Fellows Program ensures the audience reflects a broad range of perspectives.
Will Brown Donor Advised Fund this charitable giving donor Advised Fund was set up by Josh and bernadette brown in memory of their son Will brown.
William H. Brown Scholarship nantucket high school seniors, as well as nantucket residents graduating from other high schools, who display creativity, moral integrity, curiosity and the desire to learn about and contribute to the greater world, are eligible for this 4-year partial scholarship, established by Josh and bernadette brown in memory of their son Will brown.
White Heron Theatre Fund this fund supports the White heron theatre company, which produces transformative, professional productions of classical and contemporary plays and creates innovative, educational experiences based on that work.
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From the President During the recent fiscal cliff debate, tax deductibility of charitable donations was a big target. it has been put on hold for now, but the discussion in Washington continues. Some are proposing to reduce the “cap” on such deductions from 39.6% to 28%. Some are talking about a flat amount for all itemized deductions. it seems the debate is just beginning. Some estimate that such a reduction to 28% would result in a $5.6 billion decline in giving in one year. None of us know how this might impact Nantucket, but we think we should do whatever we can to find out. We all recognize that a large reduction in Nantucket giving would be felt by the people who benefit from the work of public charities, not by the donors. Anecdotal stories of the valuable work our nonprofits do are compelling, but quantifying the impact is equally important. As we end 2012, we are beginning our new year by starting this conversation locally, trying to determine what the true impact of a change in the charitable deduction would mean to this island we all care about. We will keep you posted on our progress as we work with our nonprofit community on this important project.
Phillip F. Stambaugh Pr e s i d e n t
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Financials
Community Foundation for nantucket Financial Statements For the years ending December 31 2011
2012
Assets cash/investments/other Assets contributions/receivables total Assets
$1,201,654 96,315 1,297,969
$1,888,739 28,391 1,917,130
2,147 — 1,295,822 1,297,969
852 — 1,916,278 1,917,130
853,806 14,231 $868,037
1,100,271 121,523 1,221,794
144,686 96,929 44,305 32,702 $318,622
179,334 326,522 59,411 36,071 $601,338
1,295,822 746,407 $549,415
1,916,278 1,295,822 $620,456
liabilities and net Assets current Liabilities Long-term Liabilities net Assets total Liabilities and net Assets
Revenues contributions investment and other income total revenues
Expenses Grants and distributions other Program expenses General and Administrative development and Fundraising total expenses
net assets end of year beginning of year change in net Assets
Copies of the Community Foundation’s audited financial statements are available upon request.
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Board of Trustees officers Phillip F. Stambaugh President
Robert Dean Felch vice President
Ann Colgrove vice President
Marsha Egan vice President
Joe Hale vice President
Michael Varbalow treAsurer
Susan Chase ottison
The Community Foundation for Nantucket connects people who care with causes that matter to them by providing simple, powerful and creative ways to give back to the community to help ensure Nantucket’s vitality now and forever.
secretAry
Trustees Jim Bennett Ann Colgrove Marsha Egan Robert Dean Felch William H. Frist, M.D. Joe Hale Ellen Hoeffel The Rev. Gary Klingsporn Zeldy lyman Tom Maggs Eileen P. McGrath Marsha Reis Kotalac Victoria McManus Susan Chase ottison Magdalena Padzik Melissa Philbrick Geoff Smith Phillip F. Stambaugh Michael Varbalow, Esq.
Advisory Committee Steve Davis Dan Drake Peggy Gifford Wade Greene Reginald levine The Rev. Eugene McDowell Richard oman John Penrose lynn Petrasch Mimi Young
Staff Margaretta S. Andrews executive director
Mignon Mullen AdministrAtive AssistAnt
On the cover, clockwise from top: Bartlett’s Farm: Cynthia Bartlett-Bopp, Dave Bartlett, Daniel Bartlett and John Bartlett Bike Racks: Donors Don and Teckie Shackelford, CFnan staff Margaretta Andrews and Mignon Mullen, School Superintendent Mike Cozort, nantucket Elementary School Principal Kim Kubisch, nantucket Police Safely officer Kevin Marshall and community member nini laFarge Magical Chicken Scholarship Fund: Will Sulzer, founder and contributor Nantucket Book Festival:Committee members Meghan Blair-Valero, Dick Burns, nat Philbrick and Wendy Morton Hudson Scholarship recipients:Justine Paradis (June Bartlett Scholarship); Ben Parker (Magical Chicken Scholarship); Alexisse Clinger (Pat Martin Scholarship); Viva isaragumppot & nathaniel Halik (Will Brown Scholarship)
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