HIGHLIGHTS FROM THE WINNIPEG FOUNDATION’S 2016 YEAR
“ We know there are capable young people here that are going to make a difference in the world in the future, and it’s up to us to give them the chance to begin that journey.” - Alex Strange, Sam’s Place Youth Engagement, Skills Development and Volunteer Coordinator
Recipient: Mennonite Central Committee Manitoba | Program: Youth Engagement and Skills Development program at Sam’s Place | Grant: $20,000 from a Donor-Advised Fund
THE WINNIPEG FOUNDATION’S VISION IS
“ A WINNIPEG WHERE COMMUNITY LIFE FLOURISHES FOR ALL.”
T
he words “for all” are a fairly recent amendment. The Foundation has always aimed to strengthen community well-being by working with generous donors and supporting diverse charitable organizations; the addition of “for all” highlights the importance we place on leveling the playing field and engaging everyone. We work with donors from all walks of life to fulfill their philanthropic goals, whether that is making a one-time gift to an already-established fund, establishing a Memorial Fund to honour a loved one, starting a Field of Interest Fund to support causes they care about, or opening a Donor-Advised Fund to help decide which charitable organizations receive grants.
FROM OUR BOARD CHAIR AND CEO JUSTICE DEBORAH MCCAWLEY, BOARD CHAIR We’re honoured donors believe in our vision and choose to support our community with a gift through The Winnipeg Foundation. This year, we received a record-breaking 5,726 gifts totaling $37.3 million. Our grants carry out the wishes of donors, past and present, and they support a wide variety of charitable organizations and causes across our community. This year, we supported more than 900 charities with more than $31.6 million in grants – an increase of $3.9 million over last year. These grants are only possible because of donors’ generous support, and since most gifts to The Foundation are endowed, this support will continue For Good. Forever. Thank you for your support.
About this publication
2007
2008
2009
2010
RICK FROST, CEO
2011
2012
2013
2014
2015
2016
$900 $800 $700 $600
CUMULATIVE MARKET VALUE
$500
CUMULATIVE CONTRIBUTIONS
$400 $300 $200 $100
CUMULATIVE GRANTS
STEADILY GROWING IMPACT
MILLIONS
We’ve updated how we report back to our community. In this eight-page summary Annual Report, you’ll find our 2016 financial highlights, along with quotes from donors about why they work with The Foundation and from grantees about the incredible impact grants have in our community. Some information traditionally contained in the longer printed Annual Report is now available online, so please visit our website for details, wpgfdn.org. We’ve also expanded our Working Together magazine. Not only is it now published three times a year, but it’s also longer and includes more photos and feature stories. We hope you enjoy! On the cover: Alex Jestin, Sam’s Place volunteer
2016 WAS A BIG YEAR FOR THE FOUNDATION!
$31.6 million 11.25% , 5 726 distributed to the community That’s the most in our 95 year history and $3.9 million more than last year!
return on investments
Prudent financial stewardship of these gifts ensures The Foundation is For Good. Forever.
gifts received totaling $37.3 million. That’s a lot of generosity!
OUR GENEROUS DONORS
Fund: Brooke Family Fund Type: Field of Interest Fund Supports: Youth, education and church activities
Without our donors, The Winnipeg Foundation couldn’t do the work we do. Although the reason each donor gives is unique, all our donors share something in common – our vision of making “a Winnipeg where community life flourishes for all.” Thank you!
“ Philanthropy sometimes seems like such a big thing, but really it’s something everyone can do. My parents were regular, working-class people. They worked hard, supported their family and lived [by their values]. And they wanted to leave something that reflected how they lived their life.” - Glenda Dean, daughter of Bob and Betty Brooke and contributor to the Brooke Family Fund
“ The Donor-Advised Fund was important to me because things are always changing and it is important to be able to look at projects happening each year… The endowment fund, the permanence, appealed to me because I am going to believe 100 per cent that polar bears will be around for a long time.”
Fund: Stephen Leitch Music Award Type: Scholarship Fund in memory of 17-yearold Stephen Leitch Supports: A Grade 12 student at Miles MacDonell Collegiate who shows enthusiasm, commitment, energy, spontaneity and pure joy in the field of music
- Kal Barteski
Fund: Polar Bear Fund Type: Donor-Advised Fund, started by Kal Barteski Supports: Creative and innovative polar bear research
TO LEARN MORE ABOUT THE GENEROUS DONORS WHOSE SUPPORT MAKES OUR WORK POSSIBLE, GO TO WPGFDN.ORG.
“ In some small way this is his contribution back to the music program that gave him joy. It’s given us satisfaction, it’s given us some peace, and it’s a happy moment when we’re able to attend [the graduation ceremony] and give out the award in Stephen’s name.” - Don Leitch, Stephen’s father
From drop-in shelters to sports camps, The Winnipeg Foundation makes grants of all sizes to projects in our community. In each case, charitable organizations are working hard to make our city the best it can be. Thank you!
FROM THE FRONTLINES
Recipient: Art City Program: Indigenous Art Program Grant: $10,000 from the Youth Vital Signs Response Grant program
“ We began learning the Wolf Song. We sang and drummed other songs too and the kids, when asked if they wanted to sing more, screamed ‘MORE! MORE! MORE!” - Art City program staff
Recipient: Sustainable South Osborne Community Cooperative, in partnership with Food Matters Manitoba Program: South Osborne Permaculture Commons Grant: $20,000 from Community Building Funds
Photo courtesy of Art City
“ [It’s] a very pragmatic kind of goal, to teach people to grow food. But I want people to know each other. I want them to share their knowledge, share their tools. Make decisions and solve our problems. Really, we’re trying to build strong, local communities. And I think we’re having increasing success at that.” Recipient: Winnipeg Repair Education and Cycling Hub, aka The WRENCH Program: Newcomer Bike Initiative Grant: $24,500 from a Donor-Advised Fund
“For a lot of kids having a bike is a way to have some freedom to explore their new homes, to hang out with their new friends, to be able to get out into the community and do things with their family.” - Benita Kliewer, The WRENCH Program Coordinator
- Rod Kueneman, SSOCC Vice-President
TO LEARN MORE ABOUT THE INSPIRING WORK OF THE CHARITABLE ORGANIZATIONS WE SUPPORT, GO TO WPGFDN.ORG.
2016 Financial Highlights
Summarized Balance Sheet
Thanks to the generosity of generations of donors, The Winnipeg Foundation has been able to respond to changing community needs for 95 years. Home to more than 3,200 funds established by people of all walks of life, The Foundation is committed to responsible stewardship of all gifts entrusted to us.
To view our complete audited financial statements, including auditor’s unmodified audit opinion, visit wpgfdn.org or call 204.944.9474 or 1.888.974.3631.
Report of the Independent Auditor on the Summary Financial Statements To the Board of Directors, The Winnipeg Foundation The accompanying summary financial statements, which comprise the summarized balance sheet as at September 30, 2016 and summarized statement of operations and changes in net assets for the year then ended, are derived from the audited financial statements of The Winnipeg Foundation (the “Foundation”) for the year ended September 30, 2016. We expressed an unmodified audit opinion on those financial statements in our report dated December 13, 2016. Those financial statements, and the summary financial statements, do not reflect the effects of events that occurred subsequent to the date of our report on those financial statements. The summary financial statements do not contain all the disclosures required by Canadian accounting standards for not-for- profit organizations. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of the Foundation. Management’s Responsibility for the Summary Financial Statements Management is responsible for the preparation of a summary of the audited financial statements. Auditor’s Responsibility Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard 810, Engagements to Report on Summary Financial Statements. Opinion In our opinion, the summary financial statements derived from the audited financial statements of the Foundation for the year ended September 30, 2016 are a fair summary of those financial statements, in accordance with the Canadian Auditing Standard 810, Engagements to Report on Summary Financial Statements. Chartered Professional Accountants Winnipeg, Manitoba December 13, 2016
As at September 30 (in thousands of dollars)
2016
2015
Cash, short term investments and receivables $ 16,143 $ 17,714 Investments 739,635 667,065 Other assets 9,048 8,488 764,826 693,267 Accounts payable 643 681 Grant commitments 21,066 21,556 Managed funds 116,750 102,720 138,459 124,957 Consolidated Trust Fund 621,207 564,513 Invested in capital assets 1,143 781 Administration Reserve Funds 1,999 2,170 Unrestricted 2,018 846 626,367 568,310 $ 764,826 $ 693,267
Summarized Statement of Operations and Changes in Net Assets For the year ended September 30 (in thousands of dollars)
2016
2015
Income Investment income $ 34,083 $ 29,726 Gifts received for immediate granting 6,112 4,495 Other income 398 348 40,593 34,569 Expenses Grants 31,605 27,730 Administration and other expenses 5,227 4,832 Investment manager and custodian fees 2,228 2,217 39,060 34,779 Increase (decrease) in unrestricted net assets for the year 1,533 (210) Net assets, beginning of year 568,310 543,554 New gifts to endowment funds 22,878 15,699 Total returns allocated to net assets 34,019 9,570 Other (373) (303) Increase (decrease) in unrestricted net assets for the year 1,533 (210) Net assets, end of year $626,367 $568,310 The Foundation fosters the growth and development of Manitoba’s community foundations by providing support for their activities. As part of these arrangements, some of these foundations place their endowment capital with The Foundation to be managed as part of its investment portfolio. Consequently, at year end, The Foundation’s assets include: 2016 2015 Manitoba community foundations’ investment capital placed with The Winnipeg Foundation 43,166 31,557
Total Contributions (in millions)
Grants distribution
Donors from all walks of life give to funds at The Winnipeg Foundation to support: our general community grant-making, particular charities, or scholarships. In the current year, gifts for immediate granting and to endowed funds, and contributions to Managed Funds, remained very strong, totaling more than 5,700 gifts.
Grants were distributed to projects in the following areas: 15% ARTS & CULTURE
21% HEALTH
4% HERITAGE 4% RECREATION 3% ENVIRONMENT 3% SPECIAL PROJECTS 3% FAITH BASED DESIGNATIONS 32% COMMUNITY SERVICE
15% EDUCATION
Total Assets (in millions) Positive financial markets combined with generous gifts contributed to the significant increase to total assets for a fifth consecutive year.
Total Grants (in millions) In 2016, our grants supported more than 900 different charitable organizations working throughout our community. Our spending formula is based on average market value over the previous 12 quarters. This policy helps mitigate the impact of market fluctuations on our granting, providing steady and reliable funding to organizations.
Investment Returns The Foundation’s financial stewardship strategy takes a long-term approach to achieve maximum returns consistent with prudent investment practices, ensuring legacies created by donors are respected and grant making will continue in perpetuity. 2007
2008
2009
2010
2011
2012
2013
20% 15% 10%
12.2% . . 7.1%
6.5% .
14.2%
In 2016, The Foundation received gifts to establish 186 new funds. The threshold for establishing a named fund begins at $2,500 and varies with fund type. Figures include Scholarship, Field of Interest, Donor-Advised, Designated, Community Building, Agency and Managed Funds.
16.2% .
2016 Simple Average: 5 year: 11.86% 10 year: 7.04% 11.3% 11..
5.4% 5.4%
0% -5% -10%
2015
7.2% .
5%
Total Funds
2014
-1.8% . -7.8% -7 8%
Finance & Audit Committee Carolyn Duhamel,* Chair Tom Bryk, FCPA, FCA, IDC.D,* Vice-Chair Justice Deborah McCawley,* Ex Officio Austin Abas, FCPA, FCA Richard Bracken* Tracy Graham,* CPA, CA Raymond Lafond, FCPA, FCA David Loewen, FCPA, FCA Susan Millican*
Investment Committee Robert G. Puchniak, CFA,* Chair Gerry Labossière, CPA, CA,* Vice-Chair Justice Deborah McCawley,* Ex Officio Richard Bracken* David Cohen* Jon Holeman Peter Munro, CFA Scott Penman, CFA Maureen Prendiville* *Board member
The Winnipeg Foundation 2016 Board of Directors Justice Deborah McCawley, Chair
Mayor Brian Bowman, ex officio Richard Bracken
Doneta Brotchie
Tom Bryk, FCPA, FCA, ICD.D
David Cohen
Dr. Catherine Cook, MD
Carolyn Duhamel
Spencer Duncanson
Albert El Tassi, C.M., O.M.
Tracy Graham, CPA, CA
Deborah Gray
Gerry Labossière, CPA, CA
Susan Millican
Maureen Prendiville
Robert G. Puchniak, CFA
Sr. Lesley Sacouman, SNJM
1350-One Lombard Place | Winnipeg, Manitoba R3B 0X3 204.944.9474 | 1.877.974.3631 | wpgfdn.org