2017 ANNUAL REPORT
How do you help other people?
ppy?
What do people need to be ha
mmunity?
What do you like about your co
In Remembrance of David G. Rahr 1938-2018 In the history of the Vermont Community Founda-
from zero to $70 million and annual grantmaking of
tion, no figure plays a more central role than Found-
$8 million. Dave sustained his engagement with
ing President Dave
the
Rahr.
was
his retirement and
hired as the Foun-
remained a thought-
dation’s first execu-
ful advisor to those
tive director in 1987
who followed in his
and shepherded the
footsteps and many
organization for 16
others. We are proud
years, before step-
to dedicate this An-
ping down from his
nual Report in Dave’s
role as president in
memory—his vision,
June 2003. During
humor, and energy
that time, the Foun-
made a remarkable
Dave
Foundation
in
dation grew from a single staff member to 16 full-
impact on Vermont and on everyone connected to
and part-time employees, with assets growing
the Vermont Community Foundation.
Pictured right: The gymnasium at the former St. Joseph School in Burlington’s Old North End. The Community Foundation made a $500,000 investment, in conjunction with a $2.3 million loan from the Vermont Community Loan Fund, to help the Champlain Housing Trust purchase the building and make initial upgrades. The building is a community center with numerous tenants that serve a diverse population of residents. More building renovations will happen when additional funding resources have been secured.
Letter from the President and Chair of the Board The Vermont Community Foundation’s mission is to inspire philanthropy. We hope this report deepens your belief in philanthropy’s ability to make a difference. In this day and age, people remain hungry for hope. Our hope comes from stories of partnership, stories of community, stories of giving, and stories of people working to overcome monumental challenges. They are stories of work undertaken by fundholders, volunteers, nonprofit staff, entrepreneurs, and innovators. They are stories of people whose creativity and ingenuity make a difference in Vermont. They are stories that reveal how we can be better together. At the Foundation, we feel a sense of urgency. We feel it because there is a new pace to the change experienced by communities. We feel it because the change feels different. We feel it because we know our growth must benefit Vermont and Vermonters. We feel it because no matter where you turn, global and national challenges have local impacts and challenges like the opportunity gap have national and global implications. When it comes to making a difference, it can be hard to know where to start. We are drawing a map of a Vermont that‘s at its best and Vermonters who are at their best. That is the legacy of Dave Rahr, our founder, and it is our vision for philanthropy. We hope this report offers insight and inspiration for the coming year. Dan Smith
Jake Wheeler
President & CEO
Board Chair
2017 Annual Report
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The Year in Numbers Grants Awarded: 2,790 • $15.1 Million Total Funds:
796
Total Assets:
$310.5 million
Contributions to the Foundation:
$49 million
Overall Grantmaking
Arts, Culture, and Humanities . . . . . . . . . . . . . . . . . . . . . . . 16%
Community Benefit and Economic Development . . . . . . . . 13%
Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22% Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25% Health and Human Services . . . . . . . . . . . . . . . . . . . . . . . . . 21%
Other Grantmaking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3%
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The Vermont Community Foundation
Closing the opportunity gap. The Community Foundation envisions a Vermont where everyone has the opportunity to build a bright, secure future. We are working to remove the divide that leaves too many Vermonters struggling to get ahead.
Page 4
Adapting to a changing planet. The High Meadows Fund aims to help Vermonters adapt to the ways climate change is altering Vermont’s communities and working landscape, while also lowering their contribution to a warming planet.
Page 8
Promoting access to postsecondary and career education.
Page 16
Page 10
The Vermont Women’s Fund encourages philanthropy among women and directs its giving to support women and girls ages 12 to 25, with an emphasis on financial literacy and job and life-skill’s training.
Page 14
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The Addison Community Athletics Foundation is devoted to improving the health, well-being, and nutrition of the greater Addison County community.
The Permanent Fund for Vermont’s Children has a straightforward mission with a lasting influence: ensure that all Vermont children and families have access to highquality, affordable child care by 2025.
Helping women and girls rise and thrive.
The J. Warren and Lois McClure Foundation envisions a Vermont in which no promising job goes unfilled for lack of a qualified applicant. They support projects that improve Vermonters’ access to college and career education.
Promoting health and athletics in Addison County.
Putting kids and families first.
Helping to create healthy and empowered communities for LGBTQ Vermonters. The Samara Fund’s mission is to help create a vibrant Vermont LGBTQ community and ensure that LGBTQ Vermonters are connected, healthy, appreciated, safe, and empowered.
Page 18
Strengthening the Kingdom through local giving. The Northeast Kingdom Fund is a permanent philanthropic resource for the communities of Caledonia, Essex, and Orleans Counties. It exemplifies the best of Vermonters’ aspirations for the place they call home.
Page 20
NEARLY 1 IN 4 WORKING FAMILIES in Vermont
ARE NOT EARNING ENOUGH... TO MAKE
ENDS MEET
4 4
The Vermont Community Foundation
Learn more at vermontcf.org/oppgap
Closing the Opportunity Gap. For many Vermonters, getting ahead in life isn’t
at the heart of our work. We’ve identified the four
simply a matter of hard work. It’s a question of ac-
areas shown here where we believe philanthro-
cess: to high-quality
py and community
education, to mean-
investment can sig-
ingful job opportunities, to healthy and vital communities. This is the op-
Early Care and Learning
Support for Youth and Families
nificantly
diminish
the divide between Vermont’s
haves
and have-nots. We
portunity gap—the
believe that failing
divide that leaves
to invest in these
many
issues will cost all of
Vermonters
struggling to build bright, secure futures,
no
matter
how hard they work.
College and Career Training
Community and Economic Vitality
Vermont in the long run through higher public
assistance
needs, reduced tax
At the Community
revenues, and poor-
Foundation,
er health outcomes.
we’re
committed to closing that gap. We’ve aligned
As our neighbors struggle, the result is weaker
our philanthropic resources, as well as our com-
communities, diminished prospects, and a dim-
munity investments, to put the opportunity gap
mer future for all Vermonters.
CREATING OPPORTUNITY
6
Learn more at vermontcf.org/oppgap
What Does Our Opportunity Gap Work Look Like? In 2017, we unveiled our focus on the opportu-
live in communities with high levels of socioeco-
nity gap and began building the grantmaking
nomic distress, so we are partnering with the
and investment structure for this work, which will
Vermont Council on Rural Development on their
evolve over time. Our Opportunity Gap grant
Community Visit Program. (Pictured are Walling-
program
now
in-
ford
participants.)
cludes: Spark! Con-
The Foundation is
necting
Commu-
committed to build-
grants
ing deep and last-
that support proj-
ing relationships in
ects focused on cre-
these communities
ating social capital;
by helping residents
RALI (Regional and
shape their future
Local Impact)—mid-
and tackle challeng-
size grants that are
es. And finally, Ver-
informed by local
mont Investments,
knowledge gleaned
a program
through community
lished in 2001, will
engagement;
and
invest in projects
Cornerstone—large
that align directly
nity—small
estab-
grants that support organizations working on
with our opportunity gap focus areas. This in-
statewide or regional systems-level change. A
cludes investments in affordable housing, small
big part of closing the opportunity gap involves
business development, downtown revitalization
listening to and understanding the people who
efforts, student assistance programs, and others.
Closing the Opportunity Gap:
Championing a healthy environment and economic vitality A warming planet
in communities who might not otherwise collabo-
means change for
rate, encouraging conversations between planners,
the Green Moun-
selectboard members, business owners, anglers,
tain State. Recog-
teachers, and emergency management officials,
nizing this reality,
to name just a few constituencies. Watershed re-
the High Meadows
silience efforts flourished when a diverse steering
Fund is committed
committee or group of partner organizations, rath-
to helping Vermont-
er than just one champion, led the way. Language
ers lower their contributions to climate change while
mattered: “Resilience” is a word that means many
also adapting to new conditions that are already
different things to many different people.
the HIGH MEADOWS FUND
here. High Meadows does more than make grants;
On-the-ground action—including site visits and
the Fund acts as a repository of information, a con-
tours—galvanized communities around resilience
vener of doers and thinkers, and a mission investor.
efforts. One tour of the White River took a school
Increasingly, High Meadows is focusing on sharing
bus full of locals to a flood-damaged property
its wealth of knowledge in Vermont and beyond.
in Granville and a new stream-crossing bridge in
In 2017, that was perhaps most encapsulated in a
Rochester. The tour gave an opportunity for the
report on watershed resilience that articulated the
community to look behind-the-scenes and make the
lessons learned from two years—and $249,000—of
actual work of “resilience” visible, memorable, and
funding in six watershed project teams.
meaningful. These watershed resilience funding ef-
In late 2017, High Meadows committed an ad-
forts remind us that rivers and storms don’t respect
ditional $160,000 to promote watershed resilience
municipal or regional boundaries. Vermonters must
planning and action in four more watersheds: Lake
think upstream and downstream as they plan for their
Memphremagog, the headwaters of the Winooski
communities. The High Meadows Fund is poised to
River, the Ottauquechee River, and the Green River.
facilitate these conversations, share lessons learned,
This work has brought together individuals with-
8
Learn more at highmeadowsfund.org
and ignite action.
White River Partnership Intern Christian Pelletier (left) and Executive Director Mary Russ, along with High Meadows Fund Environmental Philanthropy Associate Will Lathrop, visit an upgraded culvert in Hancock. High Meadows has been supporting community resilience planning in watersheds across the state. 2017 Annual Report
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Closing the Opportunity Gap:
Ensuring access to high-quality, affordable child care On his first day on
ing through music, stories, and projects. And with
the PERMANENT FUND
the job as principal
strong enrollment, Orwell educators are hopeful that
at the Orwell Village
children will be better prepared—socially and emo-
School, Patrick Wal-
tionally—for the transition to kindergarten.
ters heard a request
Orwell’s story is part of the successful rollout of
for Vermont’s Children
he’d hear again and
universal prekindergarten across the state. When the
again in the years to
Permanent Fund launched VCPC in 2005, around
come: Orwell need-
2,500 kids were enrolled in pre-K supported by pub-
ed a preschool. Desperately. The rural Champlain
lic funding. By the fall of the 2017–2018 school year,
Valley town educates its kindergarten through eighth
thanks to VCPC efforts to build partnerships and push
grade students at the village school, but parents were
for state legislation, that number had jumped to more
struggling to find high-quality child care for their
than 8,800 children—73 percent of all those eligible
younger children. Meanwhile, teachers noticed many
for universal pre-K funding.
children weren’t arriving at kindergarten with the skills they needed to succeed.
Momentum is building among politicians, employers, and families to push for more high-quality
In the 2016–2017 school year, Orwell’s dreams of a
child care spots for Vermont’s infants and toddlers.
preschool came to fruition, in part because of a grant
“The good news is that there’s been a measurable
from the Vermont Community Preschool Collabora-
improvement in the quality of child care since the
tive (VCPC) and Vermont Birth to Five (VB5), initiatives
Permanent Fund began its work,” says Permanent
of the Permanent Fund for Vermont’s Children. The
Fund CEO Aly Richards. “However, there simply isn’t
school renovated its old arts classroom, partnered
enough of it.” That’s why, beginning in 2018 through
with the Mary Johnson Children’s Center in Middle-
its Make Way for Kids project, VB5 has set an am-
bury, and opened with an enrollment of over 20 chil-
bitious goal of creating 500 new high-quality child
dren for its first pre-K class. The play-based program
care slots in communities across the state each year
(pictured) includes plenty of time outside and learn-
until 2025.
10
Learn more at permanentfund.org
2017 Annual Report
11
Closing the Opportunity Gap:
Promoting access to postsecondary and career education College was always
of these opportunities a funding priority for several
the
the expectation for
years. Through this funding, Hannah was trained—and
Hannah, a Missis-
paid—to teach a STEM after-school program for ele-
McCLURE
quoi Valley Union
mentary school students: an experience that helped
High School stu-
clarify her career interest in medicine. As part of anoth-
dent; neither of her
er Foundation grant, she received counseling through
parents held college
the Vermont Student Assistance Corporation (VSAC)
degrees, but they’d
and learned that, like every Vermont high school junior
long impressed upon their children the importance of
and senior, she had access to two free college courses.
higher education. But that expectation of “go to col-
As a junior, Hannah enrolled in Intro to Nutrition and
lege” butted up against a harsh reality. Namely: “Col-
Intro to Psychology at CCV St. Albans, and as a senior,
lege is really expensive,” says Hannah.
she’ll concurrently enroll—at no cost—as a freshman
J. Warren and Lois
FOUNDATION
This is the challenge facing countless Vermont young adults. Postsecondary education and training is
at Northern Vermont University while earning her high school diploma.
a clear pathway to success, but the cost alone can de-
“This opportunity has a tremendous impact on my
ter some from starting or finishing a degree. And cost
future, not only financially, but also with the fact that I
is just one barrier. For some, it’s unreliable transpor-
get to work with real professionals and start this next
tation; for others, lack of child care. For the McClure
step in my education early,” says Hannah.
Foundation, identifying and overcoming these barri-
The McClure Foundation’s work is making it easi-
ers is crucial to its mission to improve access to college
er for young adults like Hannah to envision the path-
and career training.
way from high school to college. As McClure joins the
Luckily, Vermont is on the road to building better
Community Foundation in tackling the opportunity
pathways. Hannah began to chart her own postsec-
gap, McClure is prioritizing projects that break down
ondary path, thanks in large part to opportunities cre-
barriers to job training and education, particularly
ated by the 2013 Flexible Pathways bill. McClure has
for first-generation college students and low-income
made the equitable and meaningful implementation
Vermonters.
12
Learn more at mcclurevt.org
Hannah Rollo visits the CCV St. Albans campus with her high school teacher Mary Hartman (left) and VSAC Counselor Ellen Wright (right).
2017 Annual Report
13
Closing the Opportunity Gap:
Helping girls and young women rise and thrive
the VERMONT WOMEN’S FUND
Three weeks into
der equity and provide the foundation for every girl
2017, and a day into
and woman in the state to thrive.
the new presidency
Last year, the Women’s Fund awarded $114,000
of Donald J. Trump,
through its competitive grant round to 13 organi-
women and their
zations. Those dollars supported programs like Des-
allies
the
tined for Something Big, an effort to help homeless
world took to the
girls and women build resiliency and explore career
streets. Their mes-
options, and Northern Lights, providing housing and
sage: women will not be silent in the face of political,
support for women transitioning from prison into the
legislative, and personal attacks on their rights. In
community. The Fund also celebrated and encour-
Vermont, the protest was the largest Montpelier had
aged women’s entrepreneurship with screenings of
ever seen. A crowd of an estimated 15,000 to 20,000
the documentary Dream, Girl. Meanwhile, Change
people poured into the state capital, the throng so
The Story, an initiative supported by the Women’s
thick that officials temporarily closed the Interstate
Fund alongside the Vermont Commission on Women
89 exit for Montpelier.
and Vermont Works for Women, spent 2017 sharing
around
This was the note upon which 2017 opened. The Women’s March—and the later #MeToo move-
research and data about women’s leadership and economic security in Vermont.
ment—only underscored the importance of the
In a time in which women across the country are de-
work that the Vermont Women’s Fund supports.
manding agency in rewriting women’s roles in work,
The Women’s Fund embraces philanthropy as a tool
politics, and the public sphere, the Women’s Fund is
for jumpstarting systematic changes that empower
ready to begin penning the next chapter.
women, searching for solutions that fast-track gen-
14
Learn more at vermontwomensfund.org
2017 Annual Report
15
Closing the Opportunity Gap:
Promoting community health and vitality
the ADDISON
COMMUNITY Athletics Foundation
Elizabeth Bright nev-
2017, the organization ran programs in four ele-
er thought of herself
mentary and two middle schools in the county, and
as a “sporty” per-
introduced recreational adult programs at the Mid-
son. And so when
dlebury Indoor Tennis (MIT) facility, which it runs.
her mom spotted
Since its inception, ACAF has worked with 18 dif-
an
announcement
ferent schools and organizations, sponsored an in-
about a youth ten-
creasingly popular family drop-in program at MIT,
nis club organized
and developed both recreational and competitive
by the Addison Community Athletics Foundation (ACAF), she was up for giving tennis a try. She just didn’t expect the hobby to stick.
youth tennis programs to foster lifelong athletes. Elizabeth has cycled through nearly every opportunity ACAF offers, playing in youth match tour-
“When I started out it was pretty rough,” Eliza-
naments and taking lessons with tennis pros. Now
beth says. “You see the pros play, but they’ve been
she’s playing high school tennis—and recruiting
playing since they were three years old. My balls
friends to give the sport a try. Tennis pulls her out
were flying left and right.” A year and a half later,
of her shell. She enjoys the challenge of mastering
she’s hooked. “It’s a sport that I have found a lot of
a new task and the sense of community she’s found
myself in,” says Elizabeth, 14. “It’s helped me build
among local players. Plus, says Elizabeth, “It’s real-
strengths that have been there under the surface.”
ly fun to just whack the ball.”
Hers is exactly the kind of story that underscores ACAF’s success; its goal is to promote athletics and
Pictured: Elizabeth with ACAF Program and
healthy behavior in the Addison County region, in
Communications Manager Erin Morrison.
part by introducing kids and adults to tennis. In
16
Learn more at vermontcf.org/acaf
2017 Annual Report
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Reflecting on the Past, Looking to the Future
the SAMARA FUND
The 1970s and ’80s
For Green Mountain Crossroads Executive Direc-
were a time of so-
tor H.B. Lozito, chronicling the story of Andrew’s Inn
cial, cultural, and
was a way to record lesser known histories before the
political
change,
firsthand accounts disappear, preserving the stories
and in the wake of
and gathering strength from “people who have been
changing public at-
here before us.” The oral history project was also an
titudes toward gay
“authentic relationship- and community-building pro-
public life, gay dis-
cess,” says Lozito.
cos, bars, and bathhouses opened around the coun-
Reflecting on the past and looking to the future was
try. It was in this changing world that Andrew’s Inn
something of a theme for the Samara Fund in 2017, as
operated; tucked in the heart of downtown Bellows
the fund marked 25 years of grantmaking. The Sama-
Falls, the Inn’s bar and disco became a gathering
ra Fund grew out of a moment of crisis and activism
place for rural and urban lesbian, gay, bisexual, and
in the gay community, and the work is not yet done.
transgender people.
Today’s challenges are different, but no less pressing,
Green Mountain Crossroads set out to capture this
and today the Samara Fund stands poised to grow its
story through the Andrew’s Inn Oral History Project,
coffers, foster a new generation, and continue a lega-
a project that the Samara Fund supported in 2017.
cy of activism and engagement crucial to the fabric of
Green Mountain Crossroads seeks to connect rural
Vermont’s LGBTQ community.
queer and trans individuals throughout Vermont and New England.
Pictured clockwise from top left: Portraits of History Project participants Michael Gigante, Eva Mondon, John Moisis, and Jeremy Youst.
18
Learn more at vermontcf.org/samara
Preserving History
2017 Annual Report
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Making Music, Building Community
the
NORTHEAST
KINGDOM FUND
Standing in the hall-
“If you’re a football player in the Northeast King-
way of the Lyndon
dom, you can find other football players,” says Wel-
Town School, parent
lington. Now the same is true of rock star kid musi-
Todd Wellington no-
cians who’ve not only found community in the band,
ticed a proliferation
but an outlet for supporting live music in their area.
of “all star” t-shirts.
In 2017, five years after the band’s inception, the
“There’s an all-star
Kingdom All Stars received a grant from the North-
team for every kind
east Kingdom Fund to hire a local working musician
of sports imaginable,” says Wellington, but he knew
to advise and teach the group, which was outgrow-
that kids who loved making music in this remote cor-
ing the expertise of parents and volunteers. Like so
ner of the state didn’t have the same opportunity.
many things in the Kingdom, Wellington says, the
Wellington’s idea: “There should be an all star team of kids who play music.” So was born the King-
Kingdom All Stars exist because of a do-it-yourself mentality pervasive in the region.
dom All Stars, a working, nonprofit band composed
“People here really care about what their kids
of the Northeast Kingdom’s finest youth musicians.
have access to,” says Wellington, “and they know
They play concerts instead of baseball games, wield
that we can make it happen here.”
instruments instead of bats. Each spring, middle schoolers from across the Kingdom audition. The 12
Pictured left to right: Kingdom All Stars
best make the band and spend the following year
Garrett Gilmour and Ally Morrison.
playing gigs throughout the region.
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Learn more at vermontcf.org/nek
2017 Annual Report
21
Leadership and Learning Throughout the world, community foundations provide a permanent charitable resource and share a common interest— improving the quality of life in the region they serve. And because community foundations have the flexibility to respond quickly to issues like natural disasters, as well as addressing changing needs over time, they are seen as community leaders and learning organizations.Â
Vermont Disaster Recovery Fund The Vermont Disaster Recovery Fund (VDRF), which was first established as the Vermont Disaster Relief Fund after Tropical Storm Irene hit Vermont on August 28, 2011, moved its assets to the Vermont Community Foundation in 2017. Irene wreaked havoc in Vermont, with 45 communities severely impacted and 1,400 homes destroyed—almost one-third of them mobile homes. And behind each number are the people who were affected.
22
The Vermont Community Foundation
Since its inception, the VDRF has distributed more than $5 million from the fund, providing much-needed direct assistance for the unmet needs of Vermonters who suffered devastating losses as a result of Irene and spring flooding that year. The Fund, managed by the Vermont Long-Term Disaster Recovery Group, has evolved to encompass recovery services for people affected by all types of natural disasters in Vermont. And the new fund name came from the board’s desire to support forward-thinking, intentional change that provides long-term solutions instead of temporary fixes that could potentially be reversed in the event of another flood or disaster. Having the VDRF at the Community Foundation is a natural fit, given that both the Recovery Group and the Foundation stand ready to support relief and recovery efforts in the wake of any future disasters.
Food and Farm Initiative In 2012, the Vermont Community Foundation launched the five-year Food and Farm Initiative to help connect Vermont’s local food economy with the fight against hunger. Since then, the Initiative has awarded more than $2.2 million to 20 organizations for programs that are making it possible for more children to eat healthy, local foods at school; more schools to source ingredients from farms within their communities; and more local farmers to succeed. While the Initiative is now complete, the partnerships, policies, and systems that it helped create will enable the impact generated to be carried forward by the many organizations and agencies doing this work. One example of a policy win was the inclusion of $5 million in discretionary funding for the U.S. Department of Agriculture’s Farm to School Grant Program in 2018, which doubled the available funding and was inserted by Vermont Senator Patrick Leahy. And the High Meadows Fund—a supporting organization of the Community Foundation that promotes healthy ecosystems and communities in Vermont—recently made a commitment to multi-year grants to scale up and improve the long-term viability of Vermont food hubs that link farmers to regional markets. Thanks to the vision, generosity, and commitment of the many people who supported the Food and Farm Initiative, it became the largest and most far-reaching in the Foundation’s history. 2017 Annual Report
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24
The Vermont Community Foundation
A Passion for Making and Supporting Art Our Fundholders
When David and Gisela Gamper moved to Ver-
give, to do, but not necessarily to be named.” The
mont in 1973, they dreamed of pursuing their careers
Gampers established two donor advised funds—the
in music and photography, raising their son on a quiet
Charles Gamper Fund and the Creative Connections
piece of land, and homesteading in Landgrove. What
Arts Fund—with the Foundation. David was a mu-
they didn’t know was that, within a few short years,
sician, Gisela a visual artist; the two partners in life
they’d have another task to tackle: In 1979, after the
and art were particularly drawn to programs that en-
unexpected death of his father, David inherited the
gaged people of all ages, abilities, and income levels
job of managing the family foundation—the O.P. and
to participate in the process of making art.
W.E. Edwards Foundation.
“Support what you’re passionate about,” says
Gisela says her late husband David, who passed
Gisela. That wisdom guided the Gampers’ giving
away in 2011, was a born problem-solver who quickly
for decades and still informs her own giving—in Ver-
learned the ropes in the complicated world of chari-
mont and beyond. The Gampers contributed to pro-
table foundations and philanthropy. And in the pro-
grams like In-Sight Photography in Brattleboro and
cess, he came to appreciate just how complex that
the Vermont Arts Exchange in Bennington. Though
world was. David recognized the role that a commu-
the Gampers eventually left Vermont for Manhattan,
nity foundation could play in simplifying philanthropy
they returned to Landgrove often, and Gisela still
for donors, and he joined a small group of thinkers
spends a few months every year in the state and re-
who paved the way for what would become the Ver-
mains committed to funding Vermont projects. She
mont Community Foundation. One of the Commu-
and her late husband particularly enjoyed recogniz-
nity Foundation’s founding members, David brought
ing the potential of a project early on and providing
crucial experience in the world of foundations to the
funding that lent momentum and a stamp of approv-
fledgling organization and went on to spend three
al. Sometimes it wasn’t much, she says—but it was
years on its board.
a seed from which something beautiful could grow.
“David was a compassionate and generous person,” says Gisela. “Quiet and humble, creative and energetic, David was a wonderful man—eager to 2017 Annual Report
25
Inspiring Future Generations Our Fundholders
Deborah and Wayne Granquist have been on both sides of the equation when it comes to philanthropy.
nance and strategic planning and serve on several nonprofit boards.
As donors, they know what it means to be approached
“When I was younger, I thought philanthropy
by organizations, to plan for the future while consid-
meant that you had to be a Rockefeller or a Carne-
ering their giving, and to allocate their resources.
gie or really wealthy,” says Deborah. “But I’ve come
And as experienced board members who’ve helped
to realize that philanthropy is way more than making
guide many organizations and nonprofits throughout
major gifts. Anything that you can do to help orga-
Vermont, they’ve seen what giving means to organi-
nizations—whether by contributing money or donat-
zations on the front lines of economic development,
ing volunteer time—is important.”
education, social services, and the arts.
As they think about passing the mantle, the couple
“We realize that while major gifts are terribly im-
is invested in both raising and inspiring future givers.
portant, organizations really run on a steady stream
“There’s great joy in giving to help identify and solve
of donations,” says Wayne. “A $50 contribution,
problems within Vermont. However, I worry about find-
multiplied times 100, is really important to nonprof-
ing new people to give and become involved,” says
its in Vermont.”
Deborah. One way the Granquists inspire their own
Instilling a giving ethic in their own family, as
family is by periodically giving their children, grand-
well as a rising generation of Vermonters, is at the
children, and nieces and nephews a sum of money to
forefront of the Granquists’ minds as they reflect on
donate to a cause of their choosing. The gifts come
more than 30 years of giving and volunteerism in the
with instructions to think about why they are giving
state. They moved to Vermont in the 1980s, and, as
and to share something with the family about their
Deborah puts it, “fell in love with the state and never
choice. Wayne says, “Everyone in the family thinks
went back.” Both are lawyers by training, and it was
it’s a great idea. From animal shelters to alumni cam-
Wayne’s job as president and part-owner of Stratton
paigns—they pick all kinds of worthy causes.”
Mountain that brought the couple to the state. Today they consult with nonprofits on issues of gover-
26
The Vermont Community Foundation
The Granquists are looking forward to many more years of helping nonprofits in Vermont.
2017 Annual Report
27
We Appreciate Your Partnership Thank you to the attorneys, financial advisors, and accountants who help the Community Foundation bring together people and resources to make a difference in Vermont. Central Vermont
Jonathan Bump, Esq. Law Office of Jonathan Bump, Esq. Orwell Leo V. Connolly Edward Jones Braintree Pamela J. Douglass, CPA McCormack, Guyette & Associates, PC Rutland John E. (Jeff) Fothergill, CPA Fothergill Segale & Valley Montpelier A. Jay Kenlan, Esq. A. Jay Kenlan, Esq., PLLC Rutland Theo Kennedy, JD, MPH Otis & Kennedy, LLC Montpelier Gary W. Lange, Esq. Lange Law Offices Vergennes Christine D. Moriarty, CFP MoneyPeace, Inc. Bristol Anthony Otis, JD Otis & Kennedy, LLC Montpelier Robert S. Pratt, Esq. Pratt Vreeland Kennelly Martin & White, LTD Rutland
28
The Vermont Community Foundation
Claudia Inés Pringles, Esq. Law Office of Claudia I. Pringles Montpelier Steven E. Schindler, Esq. Schindler Law Office, PLC Rutland M. Brent Sleeper, AIF Granite Financial Group Barre Thomas W. Smith Planned Giving Startup Middlebury David B. Stackpole, Esq. Stackpole & French Law Offices Stowe Cathy Systo Edward Jones Barre Wallace W. Tapia, CPA Tapia & Huckabay, PC Vergennes Betsy Wolf Blackshaw Law Office of Betsy Wolf Blackshaw Barre Matt Wootten Marble Trail Advisors Middlebury
Northeast Kingdom Vermont Stephen P. Marsh Community National Bank Derby John H. Marshall, Esq. Downs Rachlin Martin PLLC St. Johnsbury James G. Wheeler, Jr., Esq. Downs Rachlin Martin PLLC St. Johnsbury
Northwest Vermont
L. Randolph Amis, Esq. Montroll, Backus & Oettinger, PC Burlington Lucinda M. Bain Morgan Stanley Colchester Jeanne C. Blackmore, Esq. Gravel & Shea, PC Burlington Norman R. Blais Law Office of Norman R. Blais Burlington Reginald Boucher, CRPS Wells Fargo Advisors Burlington Paul D. Briody, CFP Wells Fargo Advisors Burlington
Molly Bucci, Esq. Clarke Demas & Baker, PLC Burlington Jason Cadwell, CPA/PFS, CFP Vermont Pure Financial Shelburne David Carris UBS Financial Services, Inc. South Burlington Albert A. Cicchetti Little & Cicchetti, PC Burlington C. Kirk Clarke, Esq. Clarke Demas & Baker, PLC Burlington Leigh Cole, Esq. Dinse Burlington Nancy K. de Tarnowsky, Esq. Dinse Burlington Charles N. Dinklage, CRPS Sequoia Financial Group Burlington James L. Donohue, CPA, CFP Gallagher, Flynn & Company, LLP South Burlington Jon R. Eggleston, Esq. Primmer, Piper, Eggleston & Cramer, PC Burlington Sandra K. Enman, CPA, CFP, CVA A.M. Peisch & Company, LLP Colchester Kathryn G. R. Granai, CPA Montgomery & Granai, PC Burlington Glenn A. Jarrett, Esq. Jarrett & Luitjens, PLC South Burlington Mark Langan, Esq. Dinse Burlington
Stephen P. Magowan, Esq. Sunrise Management Services, LLC Burlington Mark E. Melendy, Esq. Sheehey Furlong & Behm Burlington Marcia S. Merrill, CPA Montgomery & Granai, PC Burlington David Mickenberg, Esq. Mickenberg, Dunn, Lachs & Smith, PLC Burlington Colleen L. Montgomery, CPA Montgomery & Granai, PC Burlington Daphne Moritz, Esq. Sheehey Furlong & Behm Burlington Emily R. Morrow, Esq. Emily Morrow Executive Consulting Shelburne Brian R. Murphy, Esq. Dinse Burlington Kenneth M. Nussbaum, CPA/PFS, JD K. Nussbaum & Associates Richmond Leigh Keyser Phillips, Esq. Sheehey Furlong & Behm Burlington Hobart Popick, Esq. Langrock Sperry & Wool, LLP Burlington Pamela A. Rodriguez Pamela A. Rodriguez, CPA Essex Randall L. Sargent, CPA JMM & Associates Colchester Launa L. Slater, Esq. Jarrett & Luitjens, PLC South Burlington
Sarah Gentry Tischler, Esq. Langrock, Sperry & Wool, LLP Burlington Dr. Jane A Van Buren Noonmark Services Burlington Rebecca Walsh Pathway Financial Advisors Burlington
Southern Vermont
Edgar T. Campbell, Esq. Woolmington, Campbell, Bent & Stasny, PC Manchester Center Joseph F. Cook, Esq. Corum, Mabie, Cook, Prodan, Angell & Secrest, PLC Brattleboro David M. Gates, CFP GateHouse Financial Advisors, LLP Manchester Center Susan M. Hill, CPA, CFP Hill & Thompson, PC Manchester Center Thomas H. Jacobs, Esq. Jacobs Law Offices, LLC Bennington Rhonda Peters Lathrop Merrill Lynch Manchester Center L. Raymond Massucco, Esq. Massucco Law Office, PC Bellows Falls Lon T. McClintock, Esq. McClintock Law Office, PC Bennington Kevin M. O’Toole, Esq. Law Office of Kevin M. O’Toole, Esq. Dorset Kristin Reed, CPA, CFP Williams Financial Management, LLC Bennington
2017 Annual Report
29
Jonathan D. Secrest, Esq. Corum, Mabie, Cook, Prodan, Angell, Secrest & Darrow, PLC Brattleboro Robert Thompson, CPA Hill & Thompson, PC Manchester Center Erik Valdes, Esq. Fitts, Olson & Giddings, PLC Brattleboro Robert E. Woolmington, Esq. Woolmington, Campbell, Bent & Stasny, PC Manchester Center
Upper Valley Region
(New Hampshire & Vermont) Gary T. Brooks, Esq. Stebbins Bradley, PA Hanover Timothy W. Caldwell, Esq. Caldwell Law Lebanon Holly K. Dustin, Esq. Ledyard Financial Advisors Hanover Ethan Frechette Stebbins Bradley, PA Hanover Susan Otto Goodell, CFP Otto & Associates, Inc. Norwich Nicholas D.N. Harvey, Jr., Esq. Stebbins Bradley, PA Hanover Renee Harvey Caldwell Law Lebanon Eric W. Janson, Esq. Law Office of Eric W. Janson, PLLC Lebanon
30
The Vermont Community Foundation
Mark E. Melendy, Esq. Sheehey Furlong & Behm Woodstock Willemien Dingemans Miller, Esq. Downs Rachlin Martin PLLC Lebanon Daphne Moritz, Esq. Sheehey Furlong & Behm Woodstock David W. Otto, CFP Otto & Associates, Inc. Norwich Henry Scheier, CPA, CFP Fine Plan Professional Corp. White River Junction Shelley M. Seward, CFP Commonwealth Financial Network Lebanon Fred Wainwright Ledyard Financial Advisors Hanover Eric G. Werner Morgan Stanley Lebanon Thomas P. Wright, Esq. Wright & Reeves, PLC Woodstock
Out of State
Barbara H. Cane, Esq. Cane & Boniface, PC Nyack, New York John Harrington, PhD Harrington Investments, Inc. Napa, California E. Randall Ralston Charlottesville, Virginia
Stephen T. Rodd Abbey Spanier LLP New York City, New York Matthew Ryan MSF, CFP GW & Wade, LLC Wellesley, Massachusetts Tom Stransky, CLU, ChFC, CLTC Northwestern Mutual Bedminster, New Jersey David A. Ward, Esq. Ward Legal Group, PC Keene, New Hampshire Robert A. Wells, Esq. McLane & Middleton Manchester, New Hampshir
“The folks at the Vermont Community Foundation are very skilled in and knowledgeable about best philanthropic practices. But more importantly, they are personable, caring, and generous with their time. As a result, they empower clients to engage in philanthropy in a manner that is personally enjoyable and meaningful.” —Jeanne C. Blackmore, Esq. Gravel & Shea, PC
2017 Annual Report
31
Financials
as of December 31
2017 2016
ASSETS Cash and Cash Equivalents Investments
2017 (Unaudited)
2016 (Audited)
$12,961,217
$11,169,925
$283,210,688 $223,279,627
Other Assets
$14,328,152
$17,085,034
$310,500,057 $251,534,586
Total Assets LIABILITIES AND NET ASSETS Grants Payable, Accounts Payable, and Other Liabilities
$1,485,349
$2,383,384
Life Income Gifts Liabilities
$10,030,908
$9,357,582
Funds Held for Nonprofit Organizations
$50,918,604
$42,156,547
Total Liabilities
$62,434,861
$53,897,513
Unrestricted Net Assets
$224,368,350
$172,399,364
Temporarily Restricted Net Assets Total Net Assets Total Liabilities and Net Assets
$23,696,846
$25,237,709
$248,065,196
$197,637,073
$310,500,057
$251,534,586
Audited financial statements are available at www.vermontcf.org/financials.
Net Investment Returns (through December 31, 2017) 1 Yr.
3 Yr.
5 Yr.
10 Yr.
VCF Long-Term Pool
16.7%
7.9%
9.0%
6.2%
VCF Target Benchmark
15.3%
7.0%
7.4%
4.3%
Please visit www.vermontcf.org/investments for current investment returns and historical performance.
Total Assets (in Millions) 2017 . . . . . . $311 2016 . . . . . . $252 2015 . . . . . . $224 2014 . . . . . . $215 2013 . . . . . . $192 2012 . . . . . . $167 2011 . . . . . . $152 2010 . . . . . . $155 2009 . . . . . . $143
Staff
Please visit vermontcf.org/staff for the most up-to-date staff list.
Patrick H. Berry Vice President for Philanthropy Lydia Brownell Senior Fund and Contract Manager Heather Carlton Accountant Emilye Pelow Corbett, CAP® Philanthropic and Planned Giving Advisor Hannah Deming Accountant Stacie Fagan Senior Philanthropic Advisor Kim Haigis Program and Grants Associate
Felipe Rivera Vice President for Strategy and Communications & Chief of Staff
Betsy Rathbun-Gunn, Sandgate Director, Early Childhood Services, United Counseling Service
Debra Dabrowski Rooney, CPA Vice President for Finance and Operations & CFO
Meg Seely, Bridgewater Board Vice Chair Community Leader
Richard Ruane Information Systems Manager
Will Stevens, Shoreham Co-owner Golden Russet Farm & Greenhouses
Dan Smith President & CEO Meg Smith Director, The Vermont Women’s Fund Carolyn Weir, CAP® Senior Philanthropic Advisor for the McClure Foundation Kevin Wiberg Philanthropic Advisor for Community Engagement
Lori Hancock Assistant Controller Maria Hoaglund Human Resource Manager Jane Kimble Philanthropy Associate Chelsea Bardot Lewis Senior Philanthropic Advisor Laurie Lowy Accountant Janet Malcolm Grants Specialist Elisabeth Marx Senior Philanthropic Advisor David Morrissey Controller Jill Murray-Killon Executive Associate & Office Manager Martha Trombley Oakes, CAP® Senior Philanthropic Advisor Paige Pierson Senior Communications Manager Zoe Pike Communications Associate
Tim Volk, Charlotte Partner, Kelliher Samets Volk Sarah Waring, Montpelier Executive Director, Center for an Agricultural Economy Jake Wheeler, East Burke Board Chair Attorney, Director Downs Rachlin Martin PLLC Photography:
Board of Directors Lisa Cashdan, Norwich Community Leader Carolyn Dwyer, Essex Management Consultant Mark Foley, Jr., Rutland President, MKF Properties Peter D. Kinder, East Dorset Co-founder and Former President, KLD Research & Analytics, Inc. Spencer Knapp, Shelburne Board Secretary Senior Vice President & General Counsel, University of Vermont Health Network
Todd Balfour – pages 6 and 17 Daria Bishop – page 31 Steve Garfield/Caledonian-Record – page 21 Geoff Gersh – page 24 Caleb Kenna – pages 6,7,9,11, and 23 Josh Larkin/CCV – page 6 John Lazenby – page 13 Evie Lovett – page 19 AP Photo/Toby Talbot – page 22 Jeb Wallace-Brodeur – page 15 Jeff Woodward – pages 1 and 27 Design: Serena Fox Design Company, Waitsfield Writing: Kathryn Flagg, Press Forward, Shoreham
Allyson Laackman, Burlington Board Treasurer Community Leader Michael Metz, South Burlington President, Michael Metz & Associates, Inc. Julie Peterson, Brattleboro Associate Director, Southeast Vermont Learning Collaborative
2017 Annual Report
33
The heart of the Community Foundation’s work is closing the opportunity gap— the divide that leaves too many Vermonters struggling to get ahead, no matter how hard they work.
Thanks to children from Middlebury’s Camp Kookamunga for their wonderful voices.
OUR MISSION
Better Together: Inspiring giving and bringing together people and resources to make a difference in Vermont.
O U R
VISION
Vermont at its best; Vermonters at their best. What do we mean by best?
Vermonters look out for each other. Vermonters have equal access to opportunity. • Vermonters understand and respect • •
each other.
Vermonters live in balance with
•
the environment.
Vermonters engage in civic life. • Vermonters are healthy, inspired, and •
feel a sense of potential.
3 Court Street, Middlebury, VT 05753 | vermontcf.org