The Spirit of Giving R e p o R t t o t h e C o m m u n i t y 2 0 1 0 - 2 011 What We Do
Message from the Board Chair and President & CEO
Highlights 2011 • Gifts received: $6,058,337 • Grants approved: $3,793,673 • Community leadership project expenditures: $284,984 • Operating expenses: 1.7% of average total assets • Growth in total assets: 7.6%
Financial Summary Year ended March 31 Total assets Total donations received – for endowment – for flowthrough
2010-11 125,155,888
2009-10 116,276,823
4,446,174 1,612,163 6,058,337
3,121,337 1,591,969 4,713,306
505,844 3,793,673 284,984 4,078,657 Granting administration expenses 303,582 Community and philanthropic leadership expenses 177,419 Investment income3: Interest and dividends 3,770,756 Realized gains 1,577,950 Unrealized gains 4,280,726 9,629,432
469,271 3,184,724 384,625 3,569,349 253,053
Development expenses1 Total grants approved Community leadership projects2
General administration and governance4 Community relations and knowledge dissemination5
189,119 3,378,730 276,451 14,178,565 17,833,746
751,006
622,807
325,841
216,753
1 Development activities and costs incurred in the year do not necessarily relate to donations in any one year. The nature of the Foundation’s work creates normal donation delays which may result in costs preceding the receipt of the gifts by several years (for example, gifts in wills). 2 Community leadership projects include administering the Hamilton Roundtable for Poverty Reduction and other projects. 3 Investment income is shown before investment fees of $440,682 (2010$401,192) and income of $536,539 (2010-$1,050,432) allocated to Funds held on behalf of third parties. After last year’s significant market rebound resulting in a 18.6% return, 2011 returned to more moderate returns at 8.6% for the year ended March 31st. 4 General administration and governance costs in 2011 reflect the costs of legal and consulting services related to the implementation of HCF’S community investment strategy. 5 Community relations and knowledge dissemination includes the costs of Hamilton’s Vital Signs report.
Total Grants 2010-2011 Recreation 8% Other 11% Health & Human Services 48%
Arts & Culture 7% Education 15% Environment 11%
Total annual granting by Hamilton Community Foundation reflects Board-directed granting and the interests of people who have established donor-advised funds.
Board of Directors 2010-2011 Dr. Lindsey George, Chair Sandra Stephenson, Past Chair Paul Gibel, FCA Vice Chair and Treasurer Dr. Gary Warner, CM Strategic Advisor Dr. Jane Aronson Anne Bain Graham Browne Dr. Justin Cooper Robert D. Crockford Jeremy Freiburger Eric Girt Matthew Green Geoff Hogarth Cheryl Jensen
Madeleine Levy Ruth Liebersbach, BA, FCMA, C.Dir P.J. Mercanti Sarah Murphy, B.Eng, CIM Demetrius Tsafaridis Marita Zaffiro, R.Ph., BScPhm, MBA Allan Enriquez Tobias Williams Co-Chairs, Youth Advisory Council – ex-officio Terry Cooke President & CEO Secretary of the Board
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he spirit of giving has been Hamilton Community Foundation’s lifeblood for close to 60 years. Our donors come from many different backgrounds and life experiences. As a result, each has their own inspiration for giving and their own vision for the difference they can make through the Foundation. What unites them is their common desire to strengthen Hamilton’s quality of life through philanthropy. Thanks to the ongoing generosity of our donors, donations increased to over $6 million. We also saw positive investment returns, and an increase in our grants and community leadership projects to over $4 million. Progress is being made, but we continue to be critically aware that our city’s deepest challenges remain and, as a community, we need to do more. For us, this means continually looking for ways to align all our resources – financial, knowledge, relationships – with our mission. We were pleased this year to launch the
Dr. Lindsey George Board Chair
Terry Cooke President & CEO
Hamilton Community Investment Fund. It will allow us to invest directly into local projects such as social enterprise, and affordable housing. It also provides another philanthropic vehicle for donors to have an impact in our community. We thank all of the donors, volunteers, charitable organizations, and citizen leaders who have worked with us to make a difference through philanthropy. We hope this snapshot of our work will inspire you to learn more.
Engaging a Family in Philanthropy
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or John Hutton, the Hutton Family Fund at HCF is a way to engage future generations in philanthropy. John, his wife Eileen and children Camille, Jane, Ray and his wife Caroline, are all involved in deciding the purposes of the fund. “We’ve decided on two directions to start,” says Ray. “Women’s health, with a particular focus on maternal health, and neighbourhood development.” A portion of the Hutton’s grants will also support HCF’s broader Community Fund. John points out that establishing the fund at HCF gives them the benefits of a private foundation without the administrative headaches. Doing it now, rather than through bequests, allows Eileen and John the pleasure of engaging in community philanthropy with their children today. But the long-term legacy is uppermost for the Huttons. While the third generation of the Hutton family is still too young to participate, the opportunity will always be there. “We like that the next generation can have some influence over the fund,” says John. “And the next generation and the next,” adds Ray.
The Hutton Family Fund will engage multiple generations – including nine-day old Nicola – in community philanthropy.
Bike Co-op: Gearing Up a Social Enterprise
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he New Hope Bike Co-op has taken Tyler Gorr “light years” from where he was. The social enterprise co-op sells refurbished bikes and low-cost parts. It offers free access to tools and provides volunteer and employment opportunities to disadvantaged youth. And, it is making a difference. Tyler was 17 when he first visited New Hope. Two years and hundreds of volunteer hours later, he is an experienced mechanic and a proud program ambassador. While free tools and low-cost parts are important to him, it’s the friendships and chance to share his skills that keep him coming back. When Tyler graduated from high school, the co-op closed for an hour so everyone could attend. When he talks about seeing someone riding a bike he’s helped to fix, the pride shows through. An HCF grant funded year-round core staffing, allowing the co-op to meet the demand for bikes and repairs, develop strong partnerships and get creative about other ways to generate revenue – like a mobile bike repair shop and a pedal-powered lawn care company. But the co-op’s ambitious five-year plan is to be financially selfreliant and so far, their hard pedaling is paying off: sales are up and there’s a storage room full of bikes ready to roll.
Photo courtesy of Nora Fenton
• Help donors and organizations build funds to make the difference they want to make in the community – to give back in a way that has meaning to them. • Support all aspects of community life by giving grants to the widest possible range of charitable organizations and initiatives. • Foster community leadership by bringing people together from all parts of our city to stimulate new ideas, build participation and strengthen Hamilton.
Tyler Gorr has become an experienced mechanic and a dedicated volunteer at the New Hope Bike Co-op, a social enterprise in east Hamilton.
For More Information Report to the Community is published both as a requirement of our Private Act and our commitment to transparency. To find out more about how HCF can help you achieve your philanthropic goals, for a copy of our annual report and other information, please visit us or visit our website.
120 King St. W., Suite 700, Hamilton, ON L8P 4V2 Tel: 905-523-5600 • Fax: 905-523-0741 Web: www.hcf.on.ca • Email: information@hcf.on.ca