2020 ANNUAL REPORT
RESILIENCE
•
EQUITY
•
OPPORTUNITY
C O N T E N T S … Introduction from Dan and Carolyn
Page 1
Recovering Stronger
Page 4
The Year in Numbers
Page 2
Our Funds and Foundations
Page 12
Financial Report
Page 20
Our Partners: Fundholders and Advisors Board and Staff
Photo: Pickup basketball game in Middlebury, Vermont
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Dear Friends: We cannot reflect on 2020 without acknowledging the confluence of crises that shaped the year. COVID-19, our country’s reckoning with racial injustice, and the continued threat of climate change made for an intense year of disruption, loss, and isolation for many Vermonters, as it did for humanity around the globe.
And yet, it was a year that brought us together like never before. In 2020, with support from fundholders and other donors, the Vermont Community Foundation distributed over $12 million to more than 1,000 organizations, providing, in part, healthy meals to food-insecure Vermonters, shelter for Vermonters without homes, access to online learning for students, and support networks for historically marginalized and vulnerable populations. As of May 2021, you donated an astonishing $10.39 million to the VT COVID-19 Response Fund, which remains active and focused on pandemic-recovery grantmaking. From our entire team, thank you.
It was also a year that brought closing the opportunity gap— the central tenet of our work—into full relief. The underlying conditions that created the opportunity gap—the disparate experiences and conditions that hold Vermonters back by geography, race, and family background— were exacerbated by the pandemic. This year brought an even greater understanding of where our state lifts people up, and who it has left behind—and we leaned hard into those insights. Our team is doubling down on closing the opportunity gap so that Vermont not only recovers, but recovers stronger, more resilient, and more equitable than ever before. The five pillars of our pandemic recovery initiative—building more resilient food systems, supporting learners in transition, expanding rural connectivity, accelerating rural entrepreneurship, and advancing equitable, anti-racist communities—also provide a roadmap for closing the opportunity gap and changing the circumstances that hold Vermonters back. As philanthropists, we can move quickly and with clear eyes to stand-up the organizations doing work in our communities. The stories within this report bring to life our work in these areas. Stories about high school graduates enrolling in a free class at CCV, farmers making yogurt for the Vermont Foodbank instead of dumping excess milk, and town libraries boosting WiFi to allow students and workers access from their cars. Time and time again, Vermonters showed up for each other. As we look back on a year marked by isolation and division, we are grateful to all of you who came together to support our communities. We can accomplish so much together. Dan Smith, President and CEO
Carolyn Dwyer, Board Chair
$52.2 MILLION AT WORK IN THE COMMUNITY
$31.9M in Grants
$14.9M
Total Number of Grants:
Total Funds:
4,178
888
Mission Investments
$5.4M
Grantmaking by year:
Programmatic Activity
Community Foundation Directed
● $7,442,309 Including the VT COVID-19 Response Fund and other discretionary funds
TOTAL: $52.2 MILLION
Donor Advised Funds
● $3,269,120 Grants recommended by Community Foundation fundholders
2017 $15.1M
2018 $18.1M
2019 $25.8M
2020 $31.9M
2020 COVID-19 GRANTMAKING
$12.4M BY SOURCE
Supporting Organizations
People & Places Funds
● $1,039,667
● $610,950
Including the McClure Foundation, High Meadows Fund, and Let’s Grow Kids
Informed by committees of community members from around the state, such as the Vermont Women’s Fund, the Samara Fund, the Northeast Kingdom Fund, and others
$12.4M of the 2020 grantmaking was directed toward COVID-19 response and recovery
“When we heard that the Vermont Community Foundation was putting together a COVID-19 Response Fund we wanted in. When we work together to lift our community, to help those who are struggling, the power that we have together is far greater than what we have individually.” —Beth Rusnock, President, National Life Group Foundation
“COVID-19 served as an important reminder of how much more we can accomplish, particularly in emergencies, through umbrella organizations like the Vermont Community Foundation.” —Skip & Marilyn Sturman Read more about the Sturman family on page 18.
Recovering Stronger: Building resiliency and
closing the opportunity gap “The $13 million of emergency grant inquiries last year crystallized our role in the pandemic. The conditions that already set many Vermonters back before they got to the starting line were accelerated as jobs were lost, families struggled with child care and remote school, people were isolated physically and socially, and many small businesses and nonprofits closed their doors. The grantmaking made possible by the remarkable commitments of hundreds of Vermonters and Vermont businesses was designed to flexibly respond to the changing circumstances of the crisis. It helped fill the gaps in basic needs such as food and shelter, and set the stage for a lasting and resilient recovery that closes the opportunity gap across the state.“ —Sarah Waring Vice President for Grants and Community Investments
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The Vermont Community Foundation
Warriors of Connectivity RURAL CONNECTIVITY: Connecting to the internet is now more than ever a basic need. Solving the broadband challenge means addressing affordability for families and small businesses as well as the limited infrastructure that leaves some regions unserved.
“Librarians are warriors of connectivity and equity,” says Sharon Ellingwood White, director of the Alice M. Ward Memorial Library in Canaan, “not the curators of dusty books that people think we are.” As the world went remote last year, Ellingwood White was among the warriors who recognized the role libraries would play to prevent Vermonters from falling further behind, ensuring they could continue to work and learn, and keep them connected. “On any given day, we had teachers trying to teach remote classes, students trying to access classes, people applying for Medicaid for their elderly
parents, unemployed people looking for jobs, Veterans seeking benefits, and people of all ages doing telehealth,” she said. It was exactly those Vermonters who were most at risk of seeing the opportunity gap widen during the pandemic. In response, the Vermont Community Foundation, in partnership with the Vermont 2020 Annual Report
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Department of Libraries, targeted grants to support community connectivity and broadband access at libraries in Vermont’s nine Communication Union Districts (CUDs). Although Canaan was outside of a formal CUD at the time, the Alice M. Ward Library was one of more than 100 libraries that received $1,500 grants to upgrade equipment, create safe indoor spaces through improved air filtration, and establish computer lending programs.
households that do not currently have reliable internet. However, it is not only a question of infrastructure. The Community Foundation’s support of the nine CUDs also includes funding to build business models, hire for critical staffing needs, and leverage state and federal dollars, so that equitable access— household by household—is front and center in designing connectivity for the future.
The pandemic made clear that connectivity is core to resilience in today’s world.
In the meantime, rural connectivity warriors like Sharon Ellingwood White are better able to provide high speed internet access to patrons who are otherwise at the end of the line and—in her words— “make sure nobody walks away until they are served, safe, and connected.”
Public-private partnerships like this one that bring resources, creative solutions, and funds together are critical to expanding access to the 70,000 Vermonter
Pictured on Page 5: Kathy Smith teaches class from her car outside the Alice M. Ward Memorial Library during the pandemic.
Mountain Bikes and Entrepreneurs:
The Case for “Placemaking”
RURAL ENTREPRENEURSHIP: The pandemic exposed the vulnerabilities of concentrating economic activity in a particular place. Expanding rural business creation throughout the state is critical for recovering from an economic downturn. When Zac Freeman, co-founder of the Rochester/Randolph Area Sports Trail Alliance, mountain bikes the newly built trail behind Vermont Technical College, he’s thinking about more than the fresh air and exercise. For Zac and other entrepreneurs in the outdoor sector, expanding and improving recreational opportunities in Vermont is key to creating the kind of vibrant communities that attract economic growth. The exact recipe for entrepreneurism in Vermont is a combination of bustling downtowns, reliable internet, outdoor recreation, affordable housing, and inclusive communities that embrace diverse new ideas. But we know that many people first come to Vermont to experience our mountains, lakes, forests, and trails, then choose to stay 6
The Vermont Community Foundation
as they become rooted in our strong sense of community. “People rediscovered a connection to the outdoors in record numbers during COVID-19, highlighting that outdoor recreation is central, not ancillary, to our quality of life,” said Jessica Savage, recreation program manager at the Vermont Department of Forests, Parks and Recreation.
Investing in recreation infrastructure, as well as vibrant downtowns, brings more people to Vermont, helps employers attract and retain talent, and creates a strong sense of place.
Additionally, the pandemic showed the world that concentrating business in urban areas is not the only model for success.
While Zac Freeman builds trails in Rochester, others are working to revitalize downtowns and village centers with pocket parks, cultural programs, events, and winter markets, thanks to $1.5 million in grants through the Better Places program, a statewide program supported by the Community Foundation in partnership with the Agency of Commerce and Community Development.
COVID-19 exposed the inherent vulnerability of an economy dominated by consolidation. As supply chains were disrupted around the globe, people turned to local businesses, both out of necessity and in support of their neighbors, demonstrating how a strong local network of interconnected small businesses can weather a storm. The case has been firmly made for working where we live and play.
Supporting small businesses and entrepreneurs directly with grants to business incubators like Do North Coworking, Black River Innovation Campus, and Generator and through partnerships with Vermont Startup Collective and the Center on Rural Innovation—and indirectly by investing in the qualities that make Vermont an attractive place to live—are the path to economic resiliency.
That’s why the Vermont Community Foundation joined the State of Vermont’s Outdoor Recreation Economic Collaborative last year to support six communities-—including Rochester—that are working to develop and capitalize on their outdoor assets.
Opposite Page: Mountain bikers enjoy a new trail in Randolph. Expanding recreational opportunities is key to creating vibrant communities that attract economic growth.
Relentless Collaboration:
Feed Vermonters, Support Farmers
FOOD SYSTEM RESILIENCE: At a time of national disruption, our local food system stepped up to ensure all Vermonters were fed. We need to capture and expand on the lessons learned to support the longterm viability of our farms and ensure our families are fed. Last spring, amid the early uncertainty of the pandemic, Vermont dairy farmers faced a problem. Changes in demand had created a surplus of raw milk, and the farmers were left with few options other than to dump the milk and absorb the lost income. At the same time, the Vermont Foodbank was seeing nearly a 100 percent increase in demand.
Working with the Vermont Agency of Agriculture, Food and Markets and a number of other partners, the Vermont Community Foundation granted $60,000 to the Vermont Foodbank to bridge the divide. Rather than going to waste, the milk was sent to Green Mountain Creamery and HP Hood, who together processed 42,000 cups of yogurt and 11,500 gallons of milk, all of which was donated to the Vermont Foodbank. 2020 Annual Report
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“The 42,000 cups of yogurt is not the whole story,” said Allison Mindel, chief philanthropy officer at the Vermont Foodbank. “The collaboration drew attention to other small farms, attracting additional investments to connect local dairy farmers with community needs. We were able to tell small family farms in Vernon and Waitsfield that someone was willing to buy their product, while providing Vermonters with fresh, locally-produced food.” This kind of “relentless collaboration” between government organizations, nonprofits, philanthropy, and individuals contributing to the cause is central to better connecting our local food system with local need—not just in an emergency, but every day. “We are all part of the same system,” said Mindel. “No one organization can end hunger in Vermont alone.” Equally important to in-state collaboration is support for expanding to new markets for Vermont products in other northeast states. As demand for regional food products rose dramatically during COVID-19, the Community Foundation and the High Meadows
Fund partnered with the Vermont Food Hub Collaborative to launch Vermont Way Foods, which brands and markets Vermont food products to regional customers beyond Vermont’s borders. These new markets provide an additional path to long-term economic viability for Vermont farmers, producers, and restaurants. Strengthening connections both within and outside of Vermont leads to improved health outcomes for Vermonters, a reduced environmental footprint, security for farmers, and a stronger economy. When Vermonters have access to healthy, nourishing food, they can show up to school ready to learn, to work ready to contribute, and to life ready to meet their potential—all fundamental to closing the opportunity gap. Below: Dairy farmers sent raw milk to Green Mountain Creamery and HP Hood, which made yogurt for the Vermont Foodbank.
Working with the Vermont Agency of Agriculture, Food and Markets and a number of other partners, the Vermont Community Foundation granted $60,000 to the Vermont Foodbank to bridge the divide.
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The Vermont Community Foundation
Supporting Students,
Advancing Economic Mobility
LEARNERS IN TRANSITION: Dislocated workers in
low-wage jobs and recent graduates were hard hit by the pandemic. We see an opportunity to provide clarity around pathways to education and career training that lead to promising jobs in today’s market. College had always seemed out of reach to Nick, something only students with college savings accounts and internet at home could dream about. Graduating last year amid the uncertainty of the pandemic, Nick took a full-time job as a personal care assistant, shelving his creative ambition and hopes of someday becoming a graphic designer.
“It just didn’t seem realistic to think about college,” he said. “No one knew what was going to happen with COVID-19.” When Nick learned that graduating high school students in Vermont could take a free class at the Community College of Vermont (CCV), he felt his dreams rekindle. He signed up for a graphic design class—a field recognized as a “best bet” career training program by the McClure Foundation in partnership with the Vermont Department of Labor for its potential to lead to a good-paying job. Nick was among more than 600 Vermont high-school graduates who took advantage of the McClure Foundation’s gift for graduating students, which was complemented by an additional $700,000 in grants by the Vermont Community Foundation to boost programing at state colleges and provide stipends to students who enroll in CCV’s Early College program. In a year marked by a record number of deferrals and declining enrollment at community colleges nationwide, enrollment at CCV doubled in 2020, inspiring several million dollars of follow-on investment in free courses for Vermonters and offering insight into how Vermont can close the opportunity gap.
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Igniting that spark of possibility and helping students like Nick attend college is the closest thing we have to a silver bullet in advancing economic mobility and bolstering Vermont’s workforce.
keep more young people living and working here in Vermont. Making education and training after high school accessible—regardless of where you were born or your family background—is one of the most powerful mechanisms we have to create opportunity for Vermonters. Pictured: More than 600 Vermont high-school graduates enrolled in a free class at CCV, more than doubling enrollment in 2020.
By supporting “best bet” career paths and expanding programs available at our state colleges, we can
Anti-Racist Schools,
A More Welcoming Vermont
WELCOMING, EQUITABLE, ANTI-RACIST COMMUNITIES: As demographic trends show more diversity in Vermont’s future, we recognize the importance of creating communities where current and new Vermonters feel welcome and set up for success. Following the murder of George Floyd last year, a group of students at Bellows Free Academy in Fairfax got together to discuss what they were feeling and experiencing, both as high school students and in response to events unfolding around the country.
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The Vermont Community Foundation
With the support of their principal, John Tague, the students formed the Fairfax Racial Justice Alliance, a student group dedicated to anti-racism and inclusion in their school, eventually raising the Black Lives Matter flag and identifying areas for improvement
across disciplinary policies, mental health resources, and curriculum.
“The raised consciousness in Vermont about equity and racial justice has led to strong student voice in our schools,” said Mike McRaith, assistant executive director of the Vermont Principals’ Association. “In many areas, student groups are pushing a broader conversation in the community, creating an opportunity for us to learn, engage, and move forward together.” Those conversations, and the work happening in schools across the state, are essential to creating welcoming, anti-racist communities in Vermont. Last year, the Vermont Community Foundation granted $150,000 to the Vermont Principals’ Association, Vermont Superintendents Association, and Vermont School Boards Association to support efforts to improve equitable practices and outcomes for all students. “Not only is this work the right thing to do,” said McRaith, “it also honors the goals of public education to create engaged, knowledgeable citizens who will be the leaders of tomorrow. We have a lot
of problems in the world, and we need everyone’s talent and energy contributing to a sustainable, equitable, and vibrant future. When we push students out of the school system, we lose that potential.” Changing school culture is one of many foundational ways Vermont can become more welcoming and inclusive to BIPOC (Black, Indigenous, and People of Color) individuals. Our statewide institutions are vital leverage points for addressing systemic racism, and present an opportunity for communities to engage and address racial equity, diversity, and social justice. As part of this strategy, the Community Foundation also supports BIPOC-led organizations including the Vermont Professionals of Color Network, Clemmons Family Farm, JAG Productions, and Atowi, which are creating welcoming spaces, leadership opportunities, and youth-focused programs in their communities. Doing so is a pragmatic as well as a moral imperative for the future of Vermont. As in the schools, when people are pushed out of businesses, local government, or out of Vermont altogether, we lose the potential to build up a stronger, more resilient Vermont. Breaking down those barriers will not only help Vermont recover from the pandemic, but will also serve to close the opportunity gap, attract new and diverse ideas, and create communities where everyone feels safe and welcome. Pictured Below: Youth in Montpelier run along the Black Lives Matter mural on State Street in Montpelier. Student groups are pushing broad conversations about race in Vermont communities.
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Our Funds and Foundations
The Community Foundation family is made up of hundreds of funds, foundations, and generous donors, working together with a common love of Vermont. Here are some of their highlights.
The J. Warren & Lois McClure Foundation
600+ Recent Grads enrolled in free classes at CCV
A Promise to the Class of 2020 After the pandemic took hold last spring, the McClure Foundation offered all high school seniors a gift—one free class at the Community College of Vermont after graduation. At a time of mass deferments, financial uncertainty, and declining enrollment at community colleges nationwide, more than 600 recent graduates enrolled in their free course, doubling CCV’s typical enrollment. This success inspired several million dollars of follow-on investment in free courses for Vermonters during the pandemic.
A New Feminism Centered on Equity
Two rounds of grants totalling $350,000 for women and girls Women—particularly women of color— were hit hard by the pandemic, leaving the workforce in record numbers to care for their families. The Vermont Women’s Fund responded by doubling down on grantmaking, adding a second round of grants to help women cope with unemployment and childcare, and by collaborating with partners to advance a new feminism in Vermont that is centered on equity.
The Vermont Women’s Fund
$1.14 Million in Grants
1,200 face masks 220 half-gallons of sanitizer
Food Dollars to Farmers
High Meadows Fund
When the High Meadows Fund learned that PPE supplies were scarce last spring, they got creative. Staff distributed Vermont-made cloth masks and hand sanitizer from local distilleries across the state, allowing farmers’ markets to safely reopen and nonprofit partners to connect with community members. Responding to disruptions in Vermont’s food system, High Meadows also supported efforts to provide healthy, locally sourced meals for food-insecure Vermonters while developing regional markets that return more of the food dollar to farmers.
Opportunity Fund for Southshire Youth
$10,000 in grants to engage middle and high school students
Support for Bennington Youth The Opportunity Fund for Southshire Youth provided support to Bennington-area youth hard hit by the pandemic, particularly those marginalized by economic distress, mental health, racism, and other issues. The fund supported local organizations that provide emotional and crisis support, computers and internet access, safe haven and restorative justices processes, life skills training, and art opportunities.
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The Vermont Community Foundation
Let’s Grow Kids
$2.3 Million in Grants helped create 1,111 new child care spaces
Child Care is Essential to Vermont’s Recovery Even before COVID-19, three out of five of Vermont’s youngest children didn’t have access to child care, and too many families couldn’t afford it. During the pandemic, Let’s Grow Kids helped to stabilize and expand the child care industry to add over 1,000 new spaces, and by launching an ambitious plan to make child care equitable, sustainable, and high-quality for all Vermont families by 2025.
The Curtis Fund
Higher Education for Vermonters in Need
111 YEARS — 11,000 Scholarships
For over a century, The Curtis Fund has helped low-income and first-generation students pursue their educational dreams. A 2012 graduate of UVM and the financial controller for the Housing Trust of Rutland County, Erika Lamb is both a scholarship recipient and donor. She is paying it forward to students like Sadie Chamberlin, a theater major at St. Michael’s College, helping the next generation secure a brighter future. The fund awarded $1.5 million in scholarships to 595 students in fiscal year 2020.
Northeast Kingdom Fund
Keeping children engaged during COVID-19
Outdoor Classrooms in the Kingdom Vermont winters are not friendly to outdoor learning, but with the support of the Northeast Kingdom Fund and fundholder donations, locals in the Kingdom kept students learning in-person through the pandemic. Outdoor classrooms at the Fairbanks Museum & Planetarium and the Riverside School were among 27 projects supported by the fund’s largest grantmaking year since its inception, totaling $115,000.
“With the support of the Community Foundation and its fundholders, we were able to successfully meet the needs of youth in new ways—providing a source of stability and guidance amidst uncertainty in their lives.” —Chad Butt, Executive Director, MENTOR Vermont
Samara Fund
17 Grants to LGBTQ+ organizations and youth advocates
Building a Freer, Safer, Healthier Vermont The Samara Fund awarded grants to 12 organizations who worked to connect, support, and be in community with LGBTQ+ Vermonters during a socially distanced and emotionally challenging year. The fund also awarded scholarships to five high school rising seniors in recognition of their advocacy for LGBTQ+ youth. The fund has awarded over a half-million in grants over the past 10 years.
Addison Community Athletics Foundation
Closed But Still “Serving” “Tennis is the only thing that is saving my sanity.” Tennis was a welcome reprieve from the isolation that many families struggled with during 2020. Although the local indoor facility was closed for six months, the Addison Community Athletics Foundation got creative offering round robins and one-on-one lessons as restrictions were lifted. The foundation worked with more than 100 children in this challenging year and provided healthy opportunities for people of all ages to stay active and social when they needed it most.
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Our Trusted Partners Thank you to our fundholders and advisors—they have helped create a more vibrant Vermont by opening a fund at the Foundation or by referring clients. To see the current lists of funds and referring attorneys and advisors, visit vermontcf.org/componentfunds and vermontcf.org/advisors.
The Sturman Family
Generations of Giving Skip and Marilyn Sturman liken charitable giving to skipping stones into a lake and watching the ripples extend across the water. “We feel a strong obligation to support organizations here in Vermont, to be good citizens, and to alleviate suffering around the globe,” says Skip, “and we have tried to impress upon our children, Cara and Jed, the importance of paying it forward.” Established 20 years ago, the Sturman Family Fund has been a catalyst for those conversations. Now adults with children of their own, Cara and Jed recall being asked to identify causes or organizations important to them. From an early age, they were part of how the family directed their charitable giving, a tradition they now are passing on to the next generation. “My parents instilled a deep understanding that it is not only important to care about others, but to take responsibility and action,” said Cara. Jed agrees. “Our family fund gave us an opportunity to have conversations around who and what to support, and why it’s important to give,” he said. “While our one- and three-year olds are too young to understand philanthropy as a mechanism, we can show them how giving can make a difference.” While each family member is encouraged to bring their own values and priorities to the table, Skip says it is “very satisfying” when the family is aligned, as was the case with the VT COVID-19 Response Fund. “The pandemic offered a reminder of how much we can accomplish quickly when we give together through the Vermont Community Foundation.” 18
The Vermont Community Foundation
Profile: Advisor
Backstage but Still Directing The founder and executive director of Burlington’s historic Flynn Theater for nearly thirty years, Andrea Rogers helped to shape Vermont’s cultural landscape, bringing world-class dance, music, and theater to the Green Mountain State. “The arts play a vital role in building community,” she said, “and also provide a deeply meaningful way for people to reflect on our environment and our world.” Today, as a fundholder with the Vermont Community Foundation, Andrea is able to continue that legacy through charitable giving that supports the arts, the environment, and social needs in Vermont. “Practically speaking, my donor advised fund offers a way to direct my giving to charities I care about with appreciated stock I was fortunate to inherit,” she says. “I can essentially gift the stock at current value to the foundation, with the associated tax advantage, and then proceed over time to give it to the charities I care about.” “Though I direct most of my giving independently,” says Andrea, “I appreciate and respect the role my philanthropic advisor at the Community Foundation plays in identifying organizations and programs aligned with my priorities.”
Andrea Rogers
“The Vermont Community Foundation makes it simple for people with charitable intent to invest in Vermont,” says Jeff Morin, a financial advisor and managing partner at JMM & Associates. “It’s easy to recommend the Community Foundation because they do all the legwork. I had one client who was writing checks to 20 or 30 different organizations every year, but couldn’t keep up with how her contributions were making an impact. Now she has one fund with the Foundation and can sit down with a philanthropic advisor each year to direct her giving where it’s needed most.”
Jeff Morin
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As of December 31
ASSETS Cash and Cash Equivalents Investments
2020 (unaudited)
2019 (audited)
$17,176,636
$10,533,323
$359,884,695 $343,285,966
Other Assets
$14,616,376
$16,982,053
$391,677,707
$370,801,342
and Other Liabilities
$1,920,931
$2,722,383
Planned Giving Liabilities
$9,751,481
$10,148,316
$61,284,075
$55,960,663
$72,956,487
$68,831,362
Financials (NEW LOOK)
Total Assets LIABILITIES AND NET ASSETS Grants Payable, Accounts Payable,
Funds Held for Nonprofit Organizations
Total Liabilities Net Assets without Donor Restrictions
$294,423,308
$275,176,045
$24,297,912
$26,793,935
Total Net Assets
$318,721,220
$301,969,980
Total Liabilities and Net Assets
$391,677,707
$370,801,342
Net Assets with Donor Restrictions
Please visit vermontcf.org/investments for quarterly investment returns and historical performance.
TOTAL ASSETS in Millions
2020
2019
2018
2017
2016
2015
2014
$392M
$371M
$323M
$311M
$252M
$224M
$215M
Net Investment Returns through December 31 1 Yr. 3 Yr. 5 Yr. 10 Yr.
Long-Term Pool
Target Benchmark
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8.4%
6.4%
9.0%
7.6%
12.1%
7.9%
9.3%
6.9%
The Vermont Community Foundation
1 Yr. 3 Yr. 5 Yr. 10 Yr. Socially Responsible Pool 12.9%
9.0% 10.0%
8.1%
Target Benchmark
8.4%
7.8%
12.1%
9.5%
Board of Directors Our board of directors consists of community leaders from around the state with diverse professional experience. The directors are chosen by the Community Foundation’s Members for their sensitivity to and knowledge of the state’s key issues. Kathy Austin, Morgan Kristin Carlson, Montpelier Hal Colston, Winooski Carolyn Dwyer (Chair), Burlington
Mark Foley, Jr., Rutland Dimitri Garder, Bennington Spencer Knapp (Vice Chair), Shelburne Allyson Laackman (Treasurer)
Michael Metz, South Burlington Meg Seely, Bridgewater Will Stevens (Secretary), Shoreham John Vogel, Norwich
For a complete list of the Community Foundation staff, please visit: vermontcf.org/staff
P H OTO G RAP H Y Todd Balfour—Page 15 Peter Crabtree—Page 3 (top and bottom left, two middle right, and bottom center) and Page 4 Community College of Vermont—Pages 9, 10, and 12 John Lazenby—Front and Back Covers, Page 11 Caleb Kenna—Inside Front Cover, Page 3 (middle left, top right, and bottom right) Vermont Foodbank—Page 8 —— Design by Serena Fox Design Company, Lincoln Printed at R.C. Brayshaw & Company, LLC
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Front cover photo: Two women embrace at a Black Lives Matter rally in Montpelier.
3 Court Street, Middlebury, VT 05753 vermontcf.org
Back cover photo: Children in front of the State House, State Street in Montpelier.
