2017 - 2018
Board of Directors Susan C. Picotte, Esq., Chair Kevin M. O’Bryan, First Vice Chair Jeffrey M. Rosenbaum, JD, CPA, Treasurer William M. Kahn, CPA, Assistant Treasurer Amy S. O’Connor, Esq., Secretary Jan Smith, Assistant Secretary Dorcey L. Applyrs, DrPH, MPH M. Christian Bender Mark Eagan Virginia C. Gregg Robert T. Hennes, CFP Donovan Howard Alicia D. Lasch Hyacinth Mason, Ph.D. Murray C. Massry Victor A. Oberting III Chet Opalka G. Neil Roberts John W. Rodat Ann M. Sharpe, Esq. James A. Sidford, RHU Frank M. Slingerland Christine Standish Bethlehem Central Community Foundation Liaison Patricia Michaelson Niskayuna Community Foundation Liaison Maggie Rush Vinciguerra
Staff John G. Eberle, President & CEO Shelly Connolly, Program Officer Jenna Cuilla, Philanthropic Services Officer Mindy Derosia, Vice President of Development Siobhan Kent, APR, Communications Director Jackie Mahoney, Executive Vice President Beth McHale, Office and Database Administrator Laura Yaun, Chief Financial Officer
Contact Us 6 Tower Place • Albany, NY 12203 (518) 446-9638 • www.cfgcr.org www.facebook.com/cfgcr www.twitter.com/CommFound518
• Year in Review: 2017 •
$5.4 million
facilitated and awarded in grants and scholarships
1,225
grants awarded
29
new charitable funds established
$7.6 million
in gifts to the Foundation
17.4%
return on investments
$89 million
in assets under management All numbers as of December 31, 2017.
The beginning of the year is always an exciting time for the Community Foundation, but this year is even better: It’s the start of our 50th Anniversary year! In 1968, a small group of local leaders came together to realize an ambitious vision: creating a local vehicle for philanthropy that could support the region in perpetuity. These visionaries pooled $40,000 to start the Community Foundation, and in 1969—their first year of grantmaking—awarded $600 to local nonprofit organizations.
John Eberle with scholarship recipients at our 2017 reception.
Fifty years later, because of the generosity of many, we now distribute more than $5 million in grants and scholarships each year. Every day, the Foundation: • Connects donors to the causes and organizations they care about most • Helps individuals, families, and organizations establish charitable funds that will benefit their community during and beyond their lifetimes • Supports students of all ages with more than $500,000 in scholarships each year • Funds effective and impactful nonprofit organizations and programs • Strengthens nonprofit capacity through training and expert technical assistance • Brings partners together to address issues and capitalize on shared opportunities 2017 was a wonderful year for the Community Foundation. We look forward to celebrating our 50th Anniversary throughout 2018 with our many partners and valued supporters like you! John Eberle, President & CEO
• Board Emeriti Inaugurated • In September, the Community Foundation honored eight former board members by naming them Board Member Emeriti: A.C. Riley, Matthew Bender IV, Phoebe Bender, Marvin Freedman, Barbara Glaser, Barbara Hoehn, Paul Hohenburg, and Charles M. Liddle III. This is the highest honor the Community Foundation board can bestow on former members. Emeriti were selected because of their long-term dedication and support for the Foundation. Their contributions are considered so great that they inspire others to action and show future board members an aspirational level of service and engagement. Emeriti serve as non-voting members of the Community Foundation board and may serve on select board committees.
Introducing the inaugural Board Emeriti. From left: Matthew Bender IV, Paul Hohenburg, Charles M. Liddle III, John Eberle, Marvin Freedman, Phoebe Bender, Barbara Hoehn. (Not pictured: A.C. Riley and Barbara Glaser.)
“It’s a pleasure to honor some of our most treasured friends with the Emeritus title,” said John Eberle, President and CEO. “Each of our Emeriti have given so much to the Community Foundation and our entire region. We look forward to their thoughtful advice and guidance in the coming years.”
• Progress Report: Community Initiatives • Nation’s first regional Green & Healthy Homes InitiativeTM partnership. In October 2017, the Community Foundation and partners including the cities of Albany, Schenectady, and Troy, local health and municipal departments, and numerous nonprofit service providers, joined to officially launch the Green & Healthy Homes InitiativeTM (GHHI), Greater Capital Region partnership. Together, partners will deliver housing intervention programs and streamlined processes for Capital Region residents living in energyinefficient, unhealthy, and unsafe homes. More than 30 cities nationwide are currently working with GHHI. GHHI has proven to be an effective model of service delivery by lowering incidents of asthma and lead poisoning, reducing slips and accidents that occur in a home, and in the process, enabling older adults to live independent lives and improving families’ ability to thrive. The Capital Region GHHI partnership is generously supported by the Community Foundation (which also served as lead convener), the Schenectady Foundation, KeyBank Foundation, MVP Health Care, National Grid, and the Charles L. Touhey Foundation.
Local leaders at the official GHHI Compact Signing in October.
Nationally-renowned speaker kicks off fourth year of Capacity Building Mini-Grant Program. In December, Andy Goodman, co-founder and director of the LA-based Goodman Center, led more than 140 attendees in a thought-provoking halfFrom left: Daquetta Jones, day session on storytelling Executive Director, YWCA of the for maximum impact. Andy Greater Capital Region, Andy is an internationally-known Goodman, and Jessica Rowell, storytelling trainer and works Executive Director, Boys and with clients including The Nature Girls Club of Southern Rensselaer Conservancy, MIT, Princeton, County. the Bill and Melinda Gates Foundation, the Robert Wood Johnson Foundation, and GE. At four monthly sessions, executive directors and board members of small to mid-sized nonprofit organizations will receive training in critical nonprofit management and operations issues. Following the final session, eligible organizations can apply for up to $2,500 in funding for capacity improvements. Since the first program in 2014, the Community Foundation and our funding partners have awarded more than $108,000 to participating organizations. Special thanks to funding partners the Albany Guardian Society, Behan Communications, the Bender Family Foundation, the Freddie Institute, KeyBank, MVP Health Care, Troy Savings Bank Charitable Foundation, United Way of the Greater Capital Region, the Community Foundation, and the following Community Foundation funds: the Lincoln Fund, the Linda G. Toohey Donor Advised Fund, the Pavonia Fund, and the Standish Family Fund.
• Behind the Scenes •
The Hortense and Louis Rubin Community Health Fund At the Community Foundation, a deep understanding of local issues is critically important to our work. Our staff takes the time to thoroughly explore issues so that we can respond in the best way possible through grant awards, strategic community partnerships, and more. But how does our staff learn about these issues? “We’re very thorough in our approach to grantmaking,” said Jackie Mahoney, Executive Vice President. “It’s important to look at how the issue is being funded, what programs are out there, and what’s working.” In November 2016, the Community Foundation welcomed the Hortense and Louis Rubin Community Health Fund to our family of charitable funds. This fund was opened with an initial gift of $7.25 million, made possible by the proceeds from the operation and subsequent sale of the Rubin Dialysis Center, with the goal of supporting programs for the prevention, management, and treatment of kidney disease and related health issues. When a fund is created, there is a one-year moratorium on making grants, allowing the fund to grow before disbursing grants. Because of the conditions of the sale of the Rubin Dialysis Centers, additional proceeds were added to the fund during this time. In 2017, the Community Foundation’s staff and the Rubin Community Health Fund Advisory Committee undertook a comprehensive review of this issue area, including: • An online survey of local health care providers and nonprofit organizations to assess service and funding gaps • One-on-one interviews and in-person presentations from nearly two dozen service providers • Comparative review of funding and programs addressing kidney disease and related issues throughout the United States • Site visits to a wide variety of local nonprofits around the region
The Hortense and Louis Rubin Community Health Fund advisory committee toured many local service provider sites in 2017 to better understand community needs. Pictured here: Touring Capital Roots in Troy (top) and the Radix Ecological Sustainability Center in Albany’s South End.
“By taking the time to really understand the issues, we can make sure that our grants are as effective as possible and that there’s no duplication of efforts,” said Mahoney. “We work very hard to be good stewards of the money invested in our community—that’s what our donors and the people who will be helped by our grants deserve.”
• New Funds • The Board of Directors and staff of the Community Foundation welcome the following new funds to our family of 400+ charitable funds. The following funds were established by generous donors between January 1 and December 31, 2017. The Allison C. Bennett Fund The William D. Bennett Fund Fred G. Boettger Fund Bethlehem Warriors Breast Cancer Fund CommerceHub Cares Fund Josephine J. & David E. Conway Memorial Fund Jennifer Crimi Sunshine Donor Advised Fund The Melissa Daniels Memorial Scholarship Ellen A. Picotte Memorial Fund Christopher B. Elser Memorial Youth Soccer Fund
Breathing Life/Green & Healthy Homes InitiativeTM Fund Glenridge Grange Memorial Scholarship
New Netherland Institute Fund Terence and Amy O’Connor Fund
Steve and Denise Gonick Fund
The Opalka Family Donor Advised Fund
Charlie Johnson Youth Empowerment Fund
Michael and Margaret Picotte Donor Advised Fund
The Judith Fund
Rosenbaum Family Fund
The Logos Fund
Charles Semowich Arts Fund
Beverley Mastrianni Donor Advised Fund
Jeff and Phyllis Sperry Fund
Joseph and Shirley McDermott Designated Endowment Fund for the Alzheimer’s Association, Scholarship Fund, and Endowed Field of Interest Fund
Steiner Fund of the Waldorf School of Saratoga Springs Dorothy Meldrum Szymaszek Trust Fund
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Grants: Areas of Impact • Religion - 5% Youth & Families - 9%
Other - 1% Education 27%
Health & Sciences - 10%
Grants from the Community Foundation’s Times Union Hope Fund help Brandon, age 10, have fun while learning at miSci in Schenectady.
In partnership with our grant and scholarship advisory committees, fund holders and advisors, and community partners, the Community Foundation awarded more than $5 million in grants and scholarships in 2017.
Basic Needs 13% Community 19%
Arts & Humanities 16%
The chart above illustrates program areas receiving funding from the Community Foundation in 2017. We’re grateful to our Advisory Committee members, fund holders, donors, and partners for joining us in this important work.
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Financial Stewardship •
Effective stewardship of philanthropic assets is fundamental to the Foundation’s mission to collectively invest our community’s charitable resources, to grow charitable resources over time, and to serve the community forever. Finance and Investment Committee Oversight Members of the Community Foundation’s Finance and Investment Committee have extensive experience in business, investments, and financial services. The committee sets the investment strategy, hires outside professional advisors, and monitors investment performance against industry benchmarks. Investment Advisors The Community Foundation benefits from the expert counsel of Colonial Consulting, LLC, which works with the Finance and Investment Committee to monitor the investment performance of individual managers and provides advice on investment strategy, asset allocation, and manager selection. Colonial primarily works with nonprofits, and provides investment advice to more than 30 community foundations across the nation. Investment Strategy The Community Foundation’s investment strategy calls for a portfolio that is diversified across domestic and global asset classes. This diversification reduces the impact of market volatility and helps to control risk. In addition, the Foundation uses multiple investment managers in some asset classes, a diversification technique that further reduces risk.
Investment Summary
For the period ending December 31, 2017.
Total Managed Assets
1 Year
5 Year
10 Year
Since Inception
17.4%
8.0%
5.9%
7.3%
Market Benchmark
17.5%
9.2%
5.9%
7.6%
CPI + 5%
7.4%
6.6%
6.8%
7.4%
Target Asset Allocation Liquid Real Assets 5% Real Estate - 5% Small/All Cap Equity Composite - 6%
Emerging Markets 8%
Private Equity - 3%
International Equity Composite - 18%
Large Cap Equity 18%
Mid Cap Equity…
Hedge Funds - 12%
Fixed Income Composite 16%