COM MUNITIES FOUNDATION of TE X A S 2016 ANNUAL REPORT
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WHAT IS COMMUNITIES FOUNDATION of TE X A S?
We are a LENS through which GENEROSIT Y IS M AGNIFIED
WHERE GIF TS are made GRE ATER
WHERE DONORS are INSPIRED
WHERE the COMMUNIT Y is RALLIED
WHERE BUSINESSES are ENERGIZED WHERE FUTURES are made BRIGHTER FOR ALL
From first-time donors to seasoned philanthropists, small startups to large corporations, simple gifts to complex donations and everything in between, Communities Foundation of Texas is here to illuminate philanthropy in its many vibrant forms.
LEAD LIKE A GIRL High-Tech High Heels gives young women an edge in the sciences In 2001, 30 women from Texas Instruments had a vision to close the gender gap in science, technology, engineering and math (STEM) professions. They came together as High-Tech High Heels to increase the number of females pursuing STEM careers. Fifteen years later, working with Communities Foundation of Texas allowed them to broaden their network of grantees and increase their impact, which ultimately led to their highest granting year ever. Today, the High-Tech High Heels Fund at CFT supports programs such as equity training and exposure to STEM that encourage and prepare young women to excel. Activities like the Thunder Chicks Robotics Club at Irma Rangel Young Women’s Leadership School, a member of Young Women’s Preparatory Network, are inspiring a new generation of young women, like Jennifer, to thrive in the sciences.
SPEC TRUM of GIVING:
DONOR-ADVISED FUNDS
4,250
number of grants from CFT donor-advised funds in FY16
592
$317MM
assets under management in CFT donor-advised funds
donor-advised funds at CFT Donor-advised funds are a great way for families, foundations and corporations to bring strategy and structure to their giving.
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ROBIN BR AY, L AUR A STEFFEK and C AROLYN TOBIN of High-Tech High Heels with JENNIFER ULLOA , member of the Thunder Chicks Robotics Club at a Young Women’s Preparatory Network School Photo by Kim Leeson
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
JESUS IBARR A , 2016 recipient of the Simon Greenstone Panatier Bartlett Scholarship and incoming student at the University of Texas Arlington Photo by Kim Leeson
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
LEARNING TO HEAL A scholarship fund for those impacted by cancer The law firm Simon Greenstone Panatier Bartlett was established to provide a voice for those in need, says founding shareholder David Greenstone. “We have spent our careers fighting on behalf of cancer victims and their families and we know how devastating a cancer diagnosis can be,” he says. To expand the number of people they help, the partners established the Simon Greenstone Panatier Bartlett Scholarship Fund with Communities Foundation of Texas, which awards multiple scholarships to Dallas County students whose families have been impacted by cancer. Working with CFT at every stage of the process, the firm is awarding $50,000 in scholarships a year. “We’re so pleased to have CFT as our partners as we make a real difference in the lives of so many deserving kids,” Greenstone says. Jesus, whose mother is fighting cancer, is one of this year’s recipients. Enrolling at UTA with 64 credit hours toward an engineering degree, he’ll have a great start toward a brighter future.
SPEC TRUM of GIVING:
SCHOL ARSHIPS
more than
$1.66MM in scholarships awarded in 2016 alone
66
scholarship funds are administered by CFT
with assets in excess of
$16.8MM
In addition to managing scholarships, CFT supports many nonprofits focused on education. Educate Texas, a public-private initiative committed to helping all Texas students prepare for success, is a program of CFT.
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WORK FOR HIGHER Shields Legal Group gift-wraps hope for homeless children How does a 15-person law firm make a difference in a community? Shields Legal Group found a way with the help of Communities Foundation of Texas. The firm leveraged their business-advised fund at CFT and launched Impact/365, a program that challenges each employee to take action to help others every day. This year, they focused on helping homeless children, and came to CFT for advice. We introduced them to Hope Supply Company, which meets the critical needs of North Texas homeless children by providing food and daily essentials. In a drive they called “Hope in a Box,” the employees raised more than $2,000 and created 60 gift-wrapped hygiene kits for homeless kids. Working with CFT has not only helped the firm make a difference but also elevated employee morale and client relationships – gifts any business can appreciate. 8
JIM SHIELDS with the team at SHIELDS LEGAL GROUP Photo by Kim Leeson
SPEC TRUM of GIVING:
BUSINESS GIVING
35,000+ $6MM 125
business volunteer hours over the past 15 years
CFT helps businesses give back in many ways, from developing a giving strategy, to stewarding charitable
total grants from business funds in FY16
contributions through businessadvised funds, and organizing employee volunteer opportunities.
business partners, including Neiman Marcus, Hunt Consolidated, Fossil and many others
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
GET TING CREATIVE TO FUND THE ARTS Transforming real estate into real impact Charitable giving can be an art form in itself. Craig Hall, founder of Hall Group and fund holder at Communities Foundation of Texas, structured a complex donation of two premium restaurant spaces in the Dallas Arts District to his fund at CFT. An avid supporter of the arts, he wanted the proceeds to be used to help organizations in the area, such as the Dallas Opera, to flourish. Chef Stephan Pyles, who runs Flora Street Cafe in one of the spaces, was thrilled: “Hall’s donation of the space we are leasing is philanthropy at a level most of us only dream of.” The donation of real estate is a prime example of Craig Hall living his own philosophy. As he says, “I believe businesses should do well and do good too.”
SPEC TRUM of GIVING:
COMPLEX ASSETS Assets CFT has accepted include:
Oil, Gas and Mineral Rights
Business & Partnership Interests
Closely Held & Restricted Stock
40%
Real Estate
Life Insurance
of all gifts to donor-advised funds in 2016 were noncash.
With careful planning, gifts of securities or other noncash assets can maximize philanthropic impact and financial benefit.
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CR AIG HALL of Hall Group and fund holder at Communities Foundation of Texas, at Hall Arts Plaza in the heart of the Dallas Arts District Photo by Kim Leeson
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
Red Cross Emergency Response crewmember BECK Y C ARMICHAEL lends emotional support to STEPHANIE LIT TLE , whose house was badly damaged by the December 26 tornadoes Photo by Dennis Drenner for the American Red Cross
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
STRONGER THAN THE STORM Quick action ensures long-term relief for Garland after tornadoes The day after Christmas 2015 was disastrous for Garland and nearby communities when nine tornados ripped through the area, leaving devastation in their wake. But no sooner had the storm passed than WFAA moved to support the Red Cross relief efforts. They came to Communities Foundation of Texas to help them quickly set up the Garland-Rowlett disaster campaign through the WFAA Community Charitable Projects Fund at CFT. With the help of CFT’s expertise, the campaign raised an unprecedented $400,000 for the relief effort in record time. CFT’s role in disaster relief doesn’t end with immediate relief, however; the City of Garland turned to CFT to set up the Garland Texas Tornado Relief Fund to establish a resource for long-term relief. With ongoing donations, the community will be better prepared for clearer days ahead.
SPEC TRUM of GIVING:
RELIEF & RECOVERY Vital emergency relief
$1MM
raised through CFT for local relief and recovery efforts in the past 12 months
Long-term rebuilding and sustained support Risk reduction and preparedness efforts
Effective disaster and tragedy response requires sustained involvement. CFT responds to the complete timeline of the crisis management effort: from immediate relief to recovery, and then to reconstruction and rebuilding, whether it be from natural disasters or community tragedy.
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A Letter from the Board Chair
“ The forms that PHIL ANTHROPY takes are as DIVERSE as our COMMUNIT Y.” Great need—and great generosity—can be found in every sector of society. Here in North Texas, we have hardworking nonprofits serving vital causes, passionate donors on personal missions, businesses paying their success forward, and good Samaritans offering support to those who have fallen on hard times. At Communities Foundation of Texas, we work across this wide spectrum of philanthropy, yet we have a singular focus: to amplify the impact of the diverse forces for good. WE BUILD STRENGTH among nonprofits, partners and donors through thought leadership, training programs, fostering collaboration and supporting favorable policy. Initiatives like the D3 Institute provide nonprofits with game-changing insight into how to exponentially increase the impact of their good work.
WE GROW GIVING in our community by engaging businesses, expanding relationships, and energizing the next generation of donors through programs like North Texas Giving Day, which breaks records every year for bringing huge numbers of first-time donors into the community of philanthropy.
WE BOOST IMPACT by inspiring and advising donors, sharing our depth of knowledge and resources, making the grantmaking process more efficient and effective, and helping donors like Craig Hall use complex assets to benefit the causes they care about.
WE CATALYZE CHANGE by leading national collaborations like the Working Family Success Network, through the Caruth Foundation’s transformational, systems-level investments in public safety, education, and medical and scientific research, and through initiatives like Educate Texas’s 20 x 2020 plan.
This powerful array of impact wouldn’t be possible without the support of our donors and partners. It’s generosity like yours that makes philanthropy in North Texas, and beyond, shine brighter.
Frank Risch B o a rd Ch air
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BOARD of TRUSTEES & LEGAL COUNSEL
Frank Risch
Becky Bright
Board Vice Chair
James E. Bass
Richie Butler
Judith W. Gibbs
Civic Leader
Manager, Trinity Summits, LLC
Senior Managing Director Prescott Realty Group
Civic Leader
Immediate Past Chair
Kenneth Hersh
Sarah Losinger
Bobby B. Lyle
John McStay
Harold Montgomery
Alfreda Norman
President and CEO George W. Bush Presidential Center
Civic Leader
President and CEO Lyco Holdings, Inc.
John McStay and Associates
Chairman and CEO Calpian, Inc.
Senior Vice President Federal Reserve of Dallas
Carlos González Peña
The Honorable Florence Shapiro
Karen Shuford
Nicole G. Small
Ruth Sharp Altshuler
Vester T. Hughes, Jr.
Civic Leader
President Lyda Hill Foundation
Board Chair Civic Leader
President and Founder Peña Search Consulting, LLC
Former Texas State Senator
Ex-Officio, Chairman’s Circle Civic Leader
Frederick B. Hegi, Jr. Principal Wingate Partners
Senior Tax Counsel K&L Gates LLP
CFT’s funds and underlying assets are governed by an independent board of trustees composed of respected community leaders from diverse backgrounds. CFT board members are selected for their knowledge of community needs and for their professional expertise. The trustees’ charge is to understand donors’ interests and the roles of nonprofits, acting as stewards for more than 900 funds. Trustees serve without compensation and exercise final authority with regard to all CFT investments and charitable grants. In addition to its board of trustees, CFT also has an advisory council that includes leaders from myriad businesses and civic and cultural organizations. Beyond generating public support for the foundation’s work, advisory council members provide educated and objective viewpoints that are valuable to CFT’s projects and endeavors. For a full listing of our advisory council, please visit www.CFTexas.org.
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
Financials
2016 GRANT DISTRIBUTION SPECTRUM
3%
6%
YO U TH & R EC R E AT I O N
A R T S & C U LT U R E
8%
30%
OTHER
E D U C AT I O N
$101
9%
$102
$106
$76 $66
RELIGION
12
13
14
15
TOTA L G R A N T S PA I D
(in millions, unaudited)
10%
Fiscal years ending June 30
COMMUNIT Y IMPROVEMENT
12% HOUSING & HUMAN SERVICES
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
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22% H E A LT H & SCIENTIFIC RESEARCH
2016 COMPOSITION OF ASSETS
2016 COMPOSITION OF GIF TS
(in millions, unaudited)
(in millions, unaudited)
W.W. Caruth, Jr. Foundation
371.8
Donor-Advised Funds
43.5
Donor-Advised Funds
317.2
Agency Funds
26.8
Discretionary Funds
103.8
Designated Funds
20.5
Designated Funds
85.2
Discretionary
0.1
Other Supporting Organizations
83.0
Other
2.1
Nonprofit Agency Funds
32.3
Scholarship Funds
16.8
Charitable Remainder Trusts
9.5
General Operating Funds
7.4
TOTAL GIFTS
For a listing of named funds at CFT and to review the annual independent audit report and the related audited consolidated financial statements with
$93.0
footnotes, please visit www.CFTexas.org.
IN V ES TMENT M A N AG ERS Aberdeen Asset Management, PLC
$1,027.0
TOTAL ASSETS
BlackRock $1,065 $1,067
BNY Mellon Cash Investment Strategies $1,027
Brookfield Investment Management
$982
Burgundy Asset Management Ltd. Carlson Capital, L.P.
$853 $801
Cushing Asset Management
$769
$754
Disciplined Growth Investors, Inc.
$705
$700 $651
DL & Partners Investment Company HHR Asset Management Marble Arch Investments Pzena Investment Management, LLC State Street Global Advisors
06
07
08
09
10
11
12
13
14
15
16
ASSETS
(in millions, unaudited)
Trinity Street Asset Management Western Asset Management Company White Elm Capital William Blair Investment Management, LLC
$134
CUS TODIAN BNY Mellon $98
$93
LEGAL COUNSEL K&L Gates LLP
$86
Thompson & Knight
$73
INDEPENDENT AUDITOR McGladrey LLP
I N V E S T M E N T C O N S U LTA N T Segal Rogerscasey 12
13
14
15
16
Cambridge Associates, LLC
TOTA L G I F T S R ECEI V ED
(in millions, unaudited)
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0111010100110 00111010100110 Building Economic Stability
1100101101010 01100101101010
MEASURING SUCCESS
10100010011110 0100010011110 “When you are
10100101110010 0100101110010 asking someone
10100110101011 0100110101011 to change their
Interfaith Family Services overhauls their strategy 1001100011101 lifestyle, you01001100011101 have
based on data learnings from Data-Driven Decision to have proof01001100110010 that 1001100110010
Making (D3) Institute it works.” 11010101010001 1010101010001
0111101010010 00111101010010
Interfaith Family Services knew they had a data problem: while they were helping
KIMBERLY WILLIA MS , 11100101010011 1100101010011 families survive homelessness, the majority of families served were not thriving
CEO, Interfaith Family
01010110100110 1010110100110 long-term. Interfaith was accepted into the D3 Institute at Communities Foundation Services
0111010100110 00111010100110 of Texas, and what they learned inspired them to completely restructure their work.
For example, while their priority had been creating more housing to serve greater 1100101101010 01100101101010
numbers of homeless families, the data showed that the most important aspects of 0100010011110 10100010011110
their programs were actually career counseling and childcare—services that could 0100101110010 10100101110010
elevate families’ independence and financial status and which were not available 0100110101011 10100110101011 elsewhere. After reorienting their services based on these and other findings,
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the long-term success rates from Interfaith’s programs skyrocketed. They are now
1001100110010 01001100110010
moving forward with a $10 million campaign informed by their work after D3 as well
1010101010001 11010101010001
as by their participation in CFT’s Working Family Success Network.
0111101010010 00111101010010
100101010011 11100101010011
010110100110 01010110100110
111010100110 00111010100110
100101101010 01100101101010
Before D3
100010011110 10100010011110
100101110010 10100101110010 The average wage among graduates was
100110101011 10100110101011 $9.50/hour 001100011101 01001100011101
After D3 The average wage among graduates is
$13.00/hour
001100110010 01001100110010
40% OF RESIDENTS completed Interfaith’s Financial Empowerment Program
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HALF THAT NUMBER were homeless again six months later
91% OF RESIDENTS completed Interfaith’s Self-Sufficiency Program
97% OF PROGRAM GRADUATES were still employed one year later
W.W. Caruth, Jr. Foundation
AN ARRAY of IMPACT Three major grants in 2016 support mental health, education and public safety The W.W. Caruth, Jr. Foundation at Communities Foundation of Texas supports frontieradvancing projects in public safety, education, and scientific and medical research. These grants made in 2016 will fund transformative initiatives in each of Caruth’s three areas of focus.
E D U C AT I O N CI T Y Y E A R
$750K
$750K over 4 years will support the launch of City Year Dallas in the Dallas Independent School District. City Year will focus on academic support, student engagement and school culture in five high-need DISD schools in the 2015–2016 school year.
S CI E N T I FI C A N D MEDICAL RESEARCH U T S O U T HWE S T ER N M ED I C A L CEN T ER
$5MM
$5MM over 5 years will support a longitudinal research study within UT Southwestern’s Center for Depression and Mood Management. The study will identify biological and environmental characteristics that can inform the diagnosis, treatment and prevention of depressive disorders.
CUMU L AT I V E G R A N T S BY T H E W.W. C A R U T H , J R . FO U N DAT I O N TOTA L
$170MM
P U B L I C S A FE T Y AC T
$2.5MM
$2.5MM over 5 years will go toward refining ACT’s proven model of community engagement paired with legal action to reduce crime and blight in high-poverty neighborhoods in West and South Dallas.
North Texas Giving Day
DAZZLING GENEROSIT Y North Texas Giving Day shatters records...again! Communities Foundation of Texas’s eighth annual North Texas Giving Day raised the largest amount in the event’s history for the fifth year in a row, and the largest amount for a single online community “Giving Day” in the nation. An astounding $37.3 million was raised for 2,518 nonprofits from more than 142,700 donations. For the first time in the event’s eight-year history, all participating nonprofits received a gift. Donations poured in from all 50 states and 39 countries at a rate of nearly $34,500 per minute.
14.4
$
MILLION
2012
25.2
$
MILLION
2013
26.3
$
MILLION
2014
33
$
MILLION 2015
37.3
$
MILLION 2016
Photo by Kim Leeson
$37.3MM
po we re d by
RAISED FOR
2,518 NONPROFITS
THROUGH
142.7K GIFTS 21
Educate Texas
EDUCATE TEXAS’S 20 x 2020 PLAN A bold vision for transforming Texas public and higher education By 2020, 65% of adults will require a postsecondary credential to be gainfully employed. Bold transformation to the public and higher education system is critical to prepare our Texas students for postsecondary success. Educate Texas, a public-private initiative at Communities Foundation of Texas, has identified four areas of focus to improve student success by 2020 and beyond. O U R V I S I O N : Strengthen the public
O U R M I S S I O N : Increase postsecondary
and higher education system so that every
readiness, access and success for all students by
Texas student is prepared for educational
building partnerships, leading innovation and
and workforce success.
scaling practices and policies.
COLLEGE & CAREER READINESS 275,000 students
HIGHER E D U C AT I O N
EFFECTIVE TEACHING
OUR 2020 GOAL:
Achieve a tipping point toward success by reaching 20% of our state’s students and teachers in four key areas of focus.
320,000 students
64,000 teachers
REGIONAL C O L L A B O R AT I O N 1,500,000 students
Visit EdTx.org to learn more.
COMMUNITIES FOUNDATION of TEXAS | 2016 ANNUAL REPORT
OUR TEAM FI N A N C E A N D A DM I N I S T R AT I O N Beth Bull
Senior Vice President and Chief Financial Officer
Amanda Roberts
R EL AT I O N S H I P S
ED U C AT E T E X A S
Susan Swan Smith
John Fitzpatrick
Matt Allen
George Tang
Associate, RGV Focus
Zimo Banta
Deputy Director, RGV Focus
Chief Relationship Officer North Texas Giving Day Program Manager
Executive Assistant to the President, CEO and CFO
Amelia Barber
Investments and Accounting
Leslie Chatman
Josh Chastant
Investment Analyst
Chris Coleman Staff Accountant
Brian Doyle
Vice President of Investments
Michelle Koval
Administrative Assistant
Donna Langdon
Accounts Payable Administrator
Bobby Lewellen
Manager, Financial Planning Analysis
Jennifer Parkinen Investment Assistant
Ruth Polanco
Senior Accounts Payable Administrator
Leigh Schaefers
Director of Accounting
Kristine Thomas
Donor Initiatives Officer
North Texas Giving Day Data Project Coordinator
Sejal Desai
EFNT Program Director
Yvette Elkins
Data Integrity Manager
Carol Pierce Goglia
Marketing and Communications Director
Karen Gutierrez
Data Management Director
Melissa Hardage
Donor Initiatives Officer
Abigail Hazlett
Scholarship Initiatives Officer
Sarah Beeks Higdon Donor Relations Officer
Claire Hodges
Digital Marketing Officer
Geri Jacobs
Director of Charitable Gift Planning
Vice President, Accounting
Emily Jackson
Facilities and Administration
Katie Kuehl
Amy Auginbaugh
Sally Kurtz
Beverly Garner
Elizabeth Liser
D’Etta Hughes
April Lynch
Business Analyst
Facilities Director
Human Resources Director
Digital Marketing Coordinator Donor Services Associate
Palacios Area Fund Coordinator Donor Services Director Grants Associate
Lisa Causey
Janice Mitchell
Sylvia Sanchez
Carolyn Newham
Meeting Coordinator
Facilities/I.T. Assistant
Teresa Pottorff
Human Resources Manager
Jessica Robinson
Administrative/HR Assistant
Ann Marie Warrick Employee Engagement Program Coordinator
Erica Lopez
Front Desk Coordinator
Data Entry Associate
Donor Relations & Fund Administration Director
Angela Woodson
Advisor Relations Officer
Executive Director
Managing Director
Associate, Insights & Analytics
Luzelma Canales
Executive Director, RGV Focus
Chris Coxon
Managing Director, Programs
Denise Davis
Deputy Director, Programs
Amy Desler
Deputy Director, Development
Denise Devora
Deputy Director, Programs
Natalie Firanacci
Associate, Programs
David O. Franco, Jr.
Associate, Insights & Analytics
Kelty Garbee
Deputy Director, Programs
Melba Garcia
RGV Focus Assistant
Priscilla Aquino Garza Deputy Director, Policy
Amy Groff
Managing Director, Finance & Administration
Shelly Haines
Executive Assistant
Kate Haisten
Deputy Director, Programs
Melissa Henderson
Deputy Director, Policy
Reo Pruiett
Director, Programs
Esther Rodriguez Eugenio Saenz
Andy Scripps
Deputy Director, Strategy
Jarrad Toussant
Deputy Director, Policy
PHIL ANTHROPY Sarah Cotton Nelson
Chief Philanthropy Officer
Wende Burton
Community Philanthropy Director
Tina Lin
Strategic Initiatives Officer
Ashley McIver
Community Philanthropy Officer
Lisa Pearrow
Executive Assistant
Lori Price
Community Impact Specialist
Asia Rogers
North Texas Giving Day Administrative Specialist
Stefanie Valenzuela
Philanthropy Operations Officer
W.W. C A R U T H , J R . FO U N DAT I O N Monica Egert Smith
Senior Director, Strategic Philanthropy
Carly Gilbert
Administrative Assistant
Susan Henderson
Deputy Director, Programs
Beth Hook
Director, Marketing & Communications
Laurie Knox
Program Assistant
Kristin Kuhne
Director, Insights & Analytics
Lora McKeown Finance Assistant
David Patterson
Deputy Director, Finance
Catherine Pena
Deputy Director, Programs
Nischal Prakash
Associate, Insights & Analytics
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5500 Caruth Haven Lane Dallas, Texas 75225-8146 214.750.4222 Fax 214.750.4210 CF Texas.org | EdT X .org | Nor thTexasGivingDay.org