2023 Annual Report - The Community Foundation of the Eastern Shore

2023 Annual Report

2023 Annual Report | 1

By The

Numbers

8,122

Donors since 1984

11

1,856

staff members

Gifts made by donors in fy23

83

Commitee members

24

1,171

leaders serving the board of directors

Donors in FY23

$107

+

Million grants & scholarships since 1984

554

4,662

scholarships awarded since 1984

2 | The Community Foundation of the Eastern Shore

$6.1 Million granted in FY23

1,893

1,963

grantees in fy23

grantees since 1984

Grants Made in FY23

423

$7 Million

$549,721

scholarships awarded in FY23

in scholarships awarded since 1984

in scholarships awarded in FY23

Our MISSION Inspiring community philanthropy and connecting people who care with causes that matter.

Our VISION To create thriving communities on Maryland’s Eastern Shore where we can live and prosper together.

From the President & Chairman As we look toward the end of another year, we reflect on our 2023 fiscal year as one of growth and impact in our community. For nearly 40 years, the Community Foundation of the Eastern Shore has remained your local expert in philanthropy – inspiring charitable giving and transforming the generosity of our friends, like you, into tangible impact for the communities we serve and beyond.

As we look forward to our 40th Anniversary, we are inspired by the past and excited for the future. We recognize that while the needs may change, the Community Foundation is built to continuously adapt, and our values remain steadfast. Collaboration, integrity, transparency, leadership, accountability, and equity have guided this organization since its inception, and we remain proud to continue that legacy.

While the entirety of a year can never truly be captured in a singular publication, we are honored to share the highlights with you in this year’s Annual Report. We feature a summary of the investment you have made in our community, families, kids, and the trust you hold in our Foundation to carry it forward. We hope you will enjoy a glimpse into the impact made possible by the generosity of our supporters.

Creating change and being a positive force for good takes time, creative solutions, and collaboration from many. We are thankful for each person, family, business, nonprofit, civic group, and more that have helped to shape the Community Foundation this past year. Together, we will continue to connect passion to purpose, and create regional change for the common good.

With gratitude,

Erica Joseph

ERICA JOSEPH President

Jim Jones

JIM JONES Chairman 2023 Annual Report | 3

WHO WE ARE As leaders, grant makers, and stewards of philanthropy, the Community Foundation of the Eastern Shore connects people who care with causes that matter for the common good of the Lower Eastern Shore. We are a 501c3 nonprofit with an inspiring history of fostering charitable endeavors, and have provided more than $107 million in grants and scholarships to the local community since 1984. We collaborate with individuals, families, and businesses to match their charitable interests with community needs, and strengthen local nonprofits through grants and resources. We are devoted to improving our regional community and believe in the power of philanthropy.

How your gifts become grants 1. YOUR GIFT We accept a wide range of gifts including cash, checks, stock, life insurance, real estate, and mutual funds.

Together we can find you the perfect fit.

2. INVESTING Endowed funds provide for our community now and forever. Your gift is invested following our disciplined and diverse strategy to create long-term growth.

3. EARNING As your original gift grows, a portion of the fund’s income remains invested so it continues to grow and support our community in perpetuity.

4. GRANTS The remaining income can be used for grants from your fund to support causes you care about including nonprofits, schools, churches, scholarships, and more.

5. DUE DILIGENCE We review and verify the compliance and qualifications of the recommended grant recipients before grants are distributed, creating peace of mind for donors.

6. CHECKS ISSUED Checks are issued each week to qualifying organizations in our area, across the country, and around the globe, making it easy for you to make a difference.

4 | The Community Foundation of the Eastern Shore

How we work As your concierge of philanthropy, we offer many different options for giving and work with you to tailor strategies to your specific situation. We recognize that life experiences shape our charitable passions, and our team has a variety of ways to work with donors to achieve their philanthropic goals. Designed to endure through sound investment, your fund will continue on year after year without the need for ongoing fundraising.

Alternatively, you may continue to give to your fund, growing the available impact for your community or cause.

Donor Advised Funds

HOW YOU GIVE 1,856 GIFTS

Think of this as your personal foundation or philanthropic checkbook to support causes that matter to you when and where it is convenient for you. These charitable giving accounts can be created by individuals, families, and organizations.

Scholarship Funds Fuel the dreams of higher education. Scholarship funds are created by individuals, families, and organizations who wish to memorialize a loved one, encourage a certain field of study, or extend a helping hand for students.

1,171 DONORS $4,807 AVERAGE GIFT 34 NEW FUNDS CREATED Funds By Type

Community Needs Funds* Among the most flexible forms of giving, these funds allow CFES to respond to immediate and emerging community needs over time. Because these funds are not restricted to a specific organization or cause, the potential impact is unlimited.

Field of Interest Funds* Support the causes and issues you care deeply about. This type of fund allows you to champion distinct areas of interest without naming a specific nonprofit. Donors choose a charitable focus area and CFES awards grants to nonprofits meeting the need.

1% Administrative Funds 8% Comm. Needs/Field of Interest Funds 15% Scholarships Funds 17% Donor Advised Funds 28% Agency Funds 30% Designated Funds

Nonprofit Partner Funds Established by nonprofits to help provide financial support in perpetuity, agency funds are a simple way to create sustainability and take advantage of the financial management, administrative resources, and expertise of the Foundation.

Designated Funds Are you inspired to give back to an organization that is close to your heart? These permanent funds provide annual support to the charity or charities of your choice, ensuring financial support for the designated nonprofit agency in the future. *Endow MD Tax Credit eligible.

2023 Annual Report | 5

GRANT MAKING Within a community, fulfilling needs large and small makes the place we call home better for everyone. CFES is unique in our ability to make an impact in so many diverse areas of community need. We stay alert to emerging issues so we may foster giving and growth in our community. We seek ideas that are making a difference and create partnerships with many local organizations who work to enhance our region. While the needs may change over time, one thing that will never change is our commitment to being a part of what’s good for the Lower Shore. The areas of impact we serve are endless, because you care, and these causes matter to you.

1,963

GRANTS MADE IN FY23

Responsive Grant Making Responsive grants come from our Community Needs and Field of Interest funds.

These grants support needs in all three Lower Shore counties.

Funding per service area

Funding Per capita ico

26 %

45%

rson r pe pe .56

rs e t

40%

me

Wicomico Co.

Total Funding: $257,105 Percent Total Dollars:

So

25%

$6

Somerset Co.

Total Funding: $161,358 Percent Total Dollars:

5%

arts & culture

29 %

35%

$4.17 per p ers on

Total Funding: $221,446 Percent Total Dollars:

wo rc es

Worcester Co.

ter

wico m

3.89 per p ers on

Grants per capita reflect responsive grant dollars serving each county divided by the total population in that county.

9% 8%

youth development

3%

housing & Homelessness

Mental & Physical Health

6 | The Community Foundation of the Eastern Shore

*For a complete list of our grantees visit CFES.org/accountability

554

ORGANIZATIONS RECEIVED GRANTS

$6.1 MILLION GRANTED IN FY23

$3,016

AVERAGE GRANT AMOUNT

funding by impact area

30% 3% education

Disabilities

9%

human services

2%

historic preservation

5% hunger & nutrition

7%

3%

Legal Services

7%

community improvement

9%

workforce development

animal welfare & environment 2023 Annual Report | 7

NONPROFIT CAPACITY BUILDING

The Lower Shore is home to hundreds of active nonprofits that provide critical services to the residents of our community. These organizations create thousands of jobs, rally countless volunteers, and generate millions of dollars for the economy, all while improving the lives of our fellow neighbors.

As part of our core mission, we assist local nonprofits to learn, grow, and prosper. CFES provides local organizations with access to training, professional development, networking, and many other resources. We work to help partners achieve their missions through financial support and capacity building programs.

Capacity building is an investment in the effectiveness and future sustainability of a nonprofit, and builds the nonprofit’s ability to deliver its mission effectively both now and in the future.

Your gifts to administrative funds allow the Foundation to grow these programs, and in turn, help nonprofit partners flourish.

HOW WE HELP Responsive Grant Making

Meeting & Conference Room Use

We provide millions of dollars in grants to local nonprofits. By addressing charitable needs and unique opportunities, we turn inspiration into action in our local community. Nonprofits can manage grants from start to finish through our e-Grants portal.

Local nonprofits may reserve our large or small conference rooms to host meetings, seminars, or conferences free of charge. Our space holds up to 40 people and offers audio/visual capabilities.

Events & Training Seminars

CFES seeks to understand and document the needs, impact, and growth of area nonprofits. Through research and reporting, we provide tangible data to advance nonprofit missions and growth.

Learn, train, and grow with us! We offer numerous free and lowcost events year round for individuals and organizations.

GIVING TUESDAY

THE SHORE GIVES MORE 2022 Giving Tuesday is a 24-hour international online giving event held annually the Tuesday after Thanksgiving. The local campaign, known as The Shore Gives More, is hosted

by CFES and assists nonprofits serving the Lower Shore with fundraising. By providing an online donation portal, marketing campaigns, and nonprofit support, the campaign is able to make a significant impact through collective philanthropy.

$1,507,535

raised since 2015 for 200+ Lower Shore nonprofits.

8 | The Community Foundation of the Eastern Shore

Research & Reporting

THE MULLIGAN MEETING ROOM Eleanor Mulligan created an endowment to support the work of the Community Foundation and its efforts to strengthen the nonprofit sector. The Joseph and Eleanor Mulligan Meeting Room was dedicated on February 22, 2023 in honor of her generosity.

Use of meeting rooms is one of many resources CFES provides to area nonprofits free of charge.

THE LOWER SHORE NONPROFIT SUMMIT

Support & Resources We provide resources free of charge, such as template and policy libraries, research, how-to guides, access to the Foundation Directory Online, and more. Our in-house library contains 250+ publications, a work table, computer, and Wi-Fi access.

Nonprofit Scholarships Scholarships are available for select courses to nonprofit staff and volunteers in partnership with Wor-Wic Community College.

NONPROFIT COACHING & CONSULTING Our program staff works closely with our nonprofit clients to provide customized consulting solutions in both a 1:1 format and a cohort model. These programs include professional consulting, integrated tools, and executive coaching to focus on strategic growth and building excellence in our nonprofit community.

More than 125 nonprofit professionals and students attended the 2023 Nonprofit Summit, the region’s largest nonprofit professional development opportunity. The sold-out conference, hosted by the Community Foundation of the Eastern Shore, the United Way of the Lower Eastern Shore, and Salisbury University’s Institute for Public Affairs and Civic Engagement (PACE), kicked off with an inspiring keynote address from Maryland Governor Wes Moore.

“This consulting contract helped us formulate our equity strategy which we needed to meet our EPA requirements. This helped us to maintain our federal funding.”

- Kevin Smith, Executive Director Maryland Coastal Bays

We Offer: • Increased fundraising ability and unrestricted funding opportunities.

"The resources gained through a robust fundraising platform and CRM allow us to improve stewardship and donor relations, something many smaller nonprofits simply don't have the capacity to focus on.”

plans, policies and procedures, diversity goals, human resource management, and finance/accounting solutions.

- Joe Laque, Executive Director Horizons Delmarva Inc.

• Organizational solutions including strategic and succession

2023 Annual Report | 9

JOIN US | MAKE A DIFFERENCE friends of the foundation

Friends of the Foundation bring energy, knowledge, and passion to the Community Foundation’s work. Their support allows us to go beyond grant making and empowers the Foundation to serve as a local resource through a variety of programs, services, and the expertise of our dynamic staff. Becoming a member is as easy as making a gift to the Annual Appeal in any amount or establishing an Administrative Endowment Fund at the Foundation. Join us today, and start creating a world of possibilities for your community. Learn more at CFES.org/friends.

10 | The Community Foundation of the Eastern Shore

Giving Circles Giving circles provide a team approach to philanthropy. They allow like-minded people to collaborate for a specific interest or cause. Every giving circle is unique in size, structure, and focus, but they all enable donors to combine their resources and maximize their impact. Giving circles offer members a chance to learn more about giving and specific community causes, while sharing expertise, networking, and making a difference. Giving circles often require a smaller monetary commitment to join than creating your own fund. Becoming a member of a giving circle gives you the satisfaction of making a difference in your community and provides social and networking opportunities through dynamic groups. Learn more at CFES.org/givingcircles.

The Women’s Fund The Community Foundation of the Eastern Shore’s Women’s Fund focuses its grant making efforts on addressing the unmet needs of women and girls in Somerset, Wicomico, and Worcester counties. Members work together to help change the lives of local women and girls in our community.

Now over 300 members strong, this giving circle makes a significant impact across the area. In FY23 the Women's Fund granted $65,000 dollars to 16 organizations, and has granted $379,000 since inception.

Black Excellence Community Fund The Black Excellence Community Fund (BECF) is the newest giving circle in the CFES family. Launched in 2022, members work together to preserve cultural awareness and pride by expanding the benefits of education, health, and welfare in black communities, while teaching the values of philanthropy through education and financial literacy.

In FY23 BECF made their first grants and hosted their first fundraising event which celebrated Black Philanthropy Month.

2023 Annual Report | 11

Philanthropic

experts

BUSINESSES TRUST US

FOR CHARITABLE GIVING

since 1984

Since 1984, CFES has served as the Lower Shore's expert in philanthropy. As a local organization with deep roots in the community, our understanding of the philanthropic landscape makes us an invaluable resource. The depth of our knowledge and insight of local issues, challenges, and needs within our region is unmatched.

Our hands-on work with local nonprofits allows us to unite charitable causes and donors, while providing top tier due diligence. Our dedicated stewardship and sound investment strategies maximize every dollar to strengthen our community.

"Giving back to the Delmarva Peninsula is a high priority for the Shorebirds. We believe by supporting multiple youth organizations this will help strengthen the place where we live and do business. The Community Foundation provides insight, direction, and knowledge that is matched by no other organization on the Shore, and is the major reason why the Shorebirds partner with CFES."

- Jimmy Sweet

Assistant General Manager, Delmarva Shorebirds

Philanthropy is personal and your goals are our goals. Together we collaborate to make the Lower Eastern Shore a place we can live and prosper together.

COLLABORATION We are a collaborative leader, coordinating resources to create positive change. We partner with donors, community partners, and other foundations to build strong communities.

CFES and donors pooled resources to grant $73,000 to the Salisbury Fire Department to fund ballistic vests. The ballistic vests will help protect paramedics and fire fighters during active shooting events, domestic violence incidents, crisis intervention scenarios, and other dangerous situations as they provide life-saving support to the community.

12 | The Community Foundation of the Eastern Shore

"As a 4th generation local family-owned business we realize the importance of giving back to the community that supports us. Donating to CFES allows us to spread our impact throughout the community while having confidence that our dollars will be distributed thoughtfully and responsibly."

- Joe Wright

President, Vernon Powell Shoe Co.

PERSONALIZATION

We provide personalized service tailored to your charitable and financial interests.

CFES donor William Greenly celebrated his 96th birthday with our staff and has awarded over 100 scholarships.

LOCAL INSIGHT

INDUSTRY LEADERS We are hands-on in the community and serve as your guide to area nonprofits. Our staff frequently visit local nonprofits and participate in community conversations. We are always happy to share our knowledge and experience.

CONNECTING TO CAUSES

We operate with a staff of dedicated professionals who are leaders in their fields.

Our staff can often be found lending their expertise to the nonprofit, academic, and community sectors, and are passionate about their roles.

We rely on a diverse board of directors with a wide array of perspectives, skills, and backgrounds. Our board assists us in deploying funding and charting the Foundation's future.

Our funds help people invest in the causes they care about most.

A grant from the David & Alice Bernstein Human Needs Fund, held at the Community Foundation, supported Blind Industries & Services of Maryland’s Summer Enrichment Program for blind elementary and middle school students.

CFES President Erica Joseph was named to the Daily Record's Influential Marylander awards in the philanthropy category.

"My daughter is legally blind and has physical challenges, so the money to support that camp was really special and in line with my parents' wishes.

Additionally, my dad grew up in the garment industry and seeing those visually impaired folks sew garments for the military would have made him proud."

- Jake Bernstein 2023 Annual Report | 13

Alexis & Keith Dashield Endowment Fund Benton Family Fund for Women Burangi Total Health Village Fund City of Salisbury Homelessness Fund

WELCOMING OUR

NEW FUNDS

Coastal Social Charitable Fund Cpl. Glenn Hilliard Legacy Scholarship Fund Donna & James Clay Thompson Fund Dr. Francis A. Ruffo Memorial Scholarship Fund Dr. Robert & Nancy Adkins Emergency Medicine Education Dr. Robert and Nancy Adkins Wor-Wic Community College Endowment Gateway Pediatrics Healthy Futures Fund

"As a local business, we support local nonprofits while maximizing our tax benefit. After consulting with our tax advisor, we reached out to the Community Foundation for guidance.

We decided to create the Coastal Social Marketing Charitable Fund, which allows us to donate to the fund and defer our charitable giving until it is needed.

This way, we can contribute to the community while benefiting from tax advantages.”

- Lindsey Correa & Sarah DelliGatti

Coastal Social Marketing Charitable Fund

“When Brice died in 2022, his former teammates and friends established the W. Brice Foxwell Memorial Scholarship.

He was a beloved husband, father, friend, and teammate who loved baseball from a very young age. So, a scholarship benefiting a graduating senior of the Mardela baseball team was a natural choice.

“Funding for emergency medical services provides citizens with an advanced level of care during critical situations, while giving paramedics better means to do their jobs. With the creation of our foundation, citizens can now directly impact the future delivery of pre-hospital care emergency medical services.

I was overwhelmed by the support from the Mardela community, and the compassionate responsiveness of the CFES team made it possible for us to distribute our first scholarships this year.”

A fund at CFES was the best way to create long-term advancement for the future of our foundation. We are excited to support professional education opportunities and new technologies in pre-hospital care in the Salisbury area.”

- Stacey Foxwell, Wife of Brice Foxwell

The W. Brice Foxwell Memorial Scholarship 14 | The Community Foundation of the Eastern Shore

- Rob Frampton & Chris Truitt

The Salisbury Paramedic Foundation Fund

Hamilton & Kathleen Fox Education Fund

Todd Hershey Fund for Community Needs

Hamilton & Kathleen Fox Youth Fund

Tyler C. Groton Memorial Fund

Joseph F. & Eleanor W. Mulligan Fund

W. Brice Foxwell Memorial Scholarship Fund

Judith M. Allen Memorial Fund

WCDC Building Reserve Fund

M.A.L. Impact Fund

WCDC Employee Training Fund

Mannion Donor Advised Fund

West OC Youth Sports Complex Fund

Richard Allen Memorial Fund

WHF Endowment Fund

Rick & Cynthia Holloway Fund

Wicomico Presbyterian Church Endowment Fund

Rochelle E. Snee Memorial Scholarship Fund

Wicomico Presbyterian Church Memorial Fund

Salisbury Paramedic Foundation Fund

Wor-Wic Robert Dye Scholarship Fund

Spirit Foundation Scholarship Fund

Wor-Wic VFW Meuse Post 194 & Auxiliary Scholarship

Susan Byrd Pusey Memorial Scholarship Fund

“Well-trained staff are essential to achieving WCDC’s vision of being the ‘Eastern Shore Center of Choice.’ Our staff receive training in how to properly care for and support each individual they serve.

*For a complete list of our funds visit CFES.org/accountability

When WCDC received an endowment to ensure staff had the training they needed, the Community Foundation was the obvious choice to manage it.

Our fund at the Community Foundation allows us the resources to meet that goal now and for years to come!”

“Every child deserves a healthy start in life, and the Gateway Pediatrics Healthy Futures Fund is committed to making that happen. Through this fund we are providing financial assistance to organizations that are helping children in our community. From providing shelter assistance to supporting new moms and moms-to-be, as well as medical care to the most vulnerable, we believe that every child deserves a chance to thrive, and we are proud to be making a difference.”

- Stephanie James Executive Director,

– Jennifer Wehberg, MD & Perry Adams, PA-C

Worcester County Developmental Center

"The success, dedication, and servitude of our two wonderful sons inspired us to create our endowment fund. Our fund focuses on STEM education as we recognize the impact access to education in these topics can have on the lives of marginalized youth.

CFES was the logical vehicle for this endeavor, and we value the guidance the Foundation provides us in directing our funds to the causes we choose to focus on.”

- Alexis & Keith Dashield

Alexis & Keith Dashield Endowment Fund

Gateway Pediatrics Healthy Futures Fund

2023 Annual Report | 15

scholarships

We believe education is the key to a brighter future. Our scholarship funds are a valuable resource for people who want to help local students attain their educational goals. As one of the area’s major sources of educational support, the Foundation distributes 400+ scholarships a year. These scholarships are made possible by individuals, families, and organizations who wish to memorialize a loved one, encourage a certain field of study, or extend a helping hand for college-bound students. Designed to endure through sound investment, these scholarships will continue on year after year.

“Scholarships mean opportunity – to accomplish things I could not accomplish without scholarship support. Education is never wasted.”

- Bryan Lozano

2023 Mary Laurenzano Memorial Scholarship recipient

423

$549,721 IN SCHOLARSHIPS

SCHOLARSHIPS AWARDED IN FY23

220

DIFFERENT SCHOLARSHIP FUNDS HELD AT CFES

AWARDED IN FY23

4,662

SCHOLARSHIPS AWARDED SINCE 1984

85

SCHOOLS ATTENDED

$7IN SCHOLARSHIPS Million AWARDED SINCE 1984

The Lower Shore Scholarship Fund The Lower Shore is home to three wonderful schools that provide higher education to local students and attract new students to our region. Investing in education strengthens our workforce and communities.

will receive equal grants to support students who are residents of the tri-county region. Each school will be empowered to prioritize recipient selection in order to meet emerging student and workforce needs.

The Lower Shore Scholarship Fund was created to provide an opportunity for donors to support scholarships locally. Each year WorWic Community College, Salisbury University, and the University of Maryland Eastern Shore

Gifts to this fund qualify for the Endow Maryland tax credit and allow donors to support higher education without the need to create their own endowment fund.

16 | The Community Foundation of the Eastern Shore

Receiving a scholarship can have a profound effect on a student. The M. William & Francis J. Tilghman Educational Scholarship is awarded to students who possess academic ability, are involved in extracurricular activities or paid employment, and demonstrate financial need.

“Receiving this scholarship means that someone is willing to help me pursue my goals and believes I have the skills to do it. When I’m feeling lost and confused, that thought alone will push me to be my best.”

- Phoebe Klaverweiden James M. Bennett High School '23 Eastern University '27

Ahmed Babikir was awarded four CFES scholarships, one of which is the Whittington Memorial Scholarship.

This scholarship, established by Sally and John Rankin, memorializes Whittington family members who have lived in Somerset County since the 1680’s, valued higher education, and respected civic responsibility.

“The generosity of the donors inspires me to exceed my own expectations because I am not just rooting for myself; others are supporting me along the way.”

- Ahmed Babikir Washington High School '23 University of Maryland '27

Scholarships not only make a student’s dream come true, but also carry on a family legacy. The Purnell D. White Memorial Scholarship awards students pursuing a degree in agriculture or a closely related field.

“My dad passed away over two years ago. His biggest dream for me was to get a college degree in something I am passionate about – following in his agricultural footsteps and continuing the hard work he put into our family farm. The generosity of scholarship donors helps make this dream come true.”

- Claire Holland Holly Grove Christian School '23 Clemson University '27

2023 Annual Report | 17

INVESTING IN OUR

COMMUNITY

How does the Community Foundation continue to have a positive impact year after year? Much of it depends on thoughtful planning and long-term commitment. Our donors work with us and their advisors to create gifts that will benefit community causes long beyond their lifetime. Whether it be through a will, planned giving opportunity, or a giving circle, these gifts create brighter futures now and tomorrow.

Planned giving Whatever you want your charitable legacy to be, we can help you make it possible through a planned gift. Through thoughtful planning, you have the ability to create a permanent legacy that honors your interests and lets them live on forever. A planned gift is one that is arranged during your life, but comes to fruition after you pass.

As a trusted partner in giving, we work closely with individuals, families, and professional advisors to ensure your charitable wishes are honored in perpetuity while also maximizing tax benefits. There are many creative and flexible giving options to achieve your unique charitable vision. To learn about some of our many options visit CFES.org/plannedgiving.

LIFE INSURANCE: Giving through a life insurance policy is a simple way to establish your legacy of giving with potential tax benefits during your lifetime. By gifting a policy to CFES or naming CFES as a beneficiary, you can accomplish your charitable goals at a relatively low cost. The proceeds from the policy will establish a charitable fund (or add to an existing fund) according to your charitable intentions.

18 | The Community Foundation of the Eastern Shore

CHARITABLE GIFT ANNUITY: Establishing a CGA offers immediate tax benefits and ensures you and/or a loved one receive a fixed and secure stream of income for life. When you make this type of charitable gift (using cash or securities), the Foundation makes a commitment to pay a fixed amount to you (and/or a loved one) for the remainder of your lifetime. After all payments have been made, the remaining assets are then contributed to a charitable fund at CFES to accomplish your specific charitable goals.

BEQUEST: Plan now, give later, by including a legacy provision through your will or trust. Bequests can take the form of a specific amount of money or a percent of your estate. The Foundation offers suggested language for you and your attorney to include in your will or trust. Your bequest can be used to establish a charitable fund (or add to an existing fund) at CFES that speaks to your charitable intentions and can be changed later simply by contacting the Foundation.

RETIREMENT PLAN: Designating CFES as a beneficiary of your retirement plan is a tax-savvy opportunity to maximize your charitable impact. Retirement plan assets are some of the most heavily taxed estate assets; therefore, it may be more effective for you to transfer these assets to a tax-exempt organization, such as CFES, and leave less heavily taxed assets to loved ones.

Legacy Society The Legacy Society honors its individual members’ charitable passions while highlighting members as philanthropic role models in our community. Legacy Society members have declared in writing their intent to make a deferred gift to the Community Foundation by will, trust, life insurance, or other financial instrument.

Through their planned gifts, members contribute to the growth of the Foundation’s permanent endowments and inspire others to do the same. It’s never too early to create a lasting legacy which will benefit your community for generations to come.

"Since moving to Berlin in 2010, we have partnered with CFES because they listen to the heartbeat of citizen’s needs in Worcester County. As Legacy Society members, we can continue to support local needs in the future specifically education, women’s issues, mental health, and food pantry assistance."

- Larry & Patty Campbell Legacy Society Members

Professional Advisors Attorneys, CPAs, financial planners, trust officers, and other professionals are valued partners in charitable giving. Together we develop client-focused giving strategies that meet specific financial goals and philanthropic interests. Advisors can retain and manage client charitable assets at their financial institution on an ongoing basis.

Through the stewardship of CFES, a gift supports the philanthropic priorities of our donors forever. CFES offers local charitable insight, as our staff frequently visits local nonprofits and participates in community conversations.

I constantly recommend The Community Foundation of the Eastern Shore to my clients who enjoy gifting to charity.

The Community Foundation assists our clients and their gifting goals, all while offering a streamlined, efficient, and impactful approach.

When a client establishes a fund at The Community Foundation they gain access to a team of local professionals who can help them navigate the complicated world of philanthropy. Working alongside InFocus Financial Advisors, Inc., the team at The Community Foundation offers guidance on grantmaking, investment strategies, and tax advantages, ensuring that the client's charitable dollars are used effectively to support causes they are passionate about.

By leveraging the Foundation's expertise, clients can maximize the impact of their giving and make more informed decisions about where their contributions should go. I love helping clients achieve their charitable gifting in retirement. Our clients really enjoy it, and it grows the strength of our local community by supporting many great causes."

- Eric W. Johnston, CFP® President/Financial Advisor InFocus Financial Advisors Inc.

2023 Annual Report | 19

With Thanks TODD HERSHEY

Remembered

It is with great sadness that we honor our dear friend, colleague, and CFES Board Secretary Todd Hershey, who passed away on February 22, 2023.

Todd was known as a compassionate, welcoming, kind, engaging, and caring person.

Passionate about giving back to his community, Todd took great pride in volunteering his time and talents to many local organizations. At CFES Todd served as a member of the Board of Directors, served terms as Treasurer and Secretary, was Chairman of the Asset Development Committee, and Chairman of the CFES 35th Anniversary Committee.

Todd was always a friendly face at the CFES office, taking the time to visit with staff and asking how he could help. His love for his sons, philanthropy, and community will be greatly missed. We extend our deepest condolences to his mother, father, four sons, friends, and all who cared for him.

Retiring Board members As board members Duke Marshall, Stephanie Willey, and Dr. Julius Zant complete their terms, we are a stronger organization for their leadership. Providing guidance, expertise, and a wealth of philanthropic support the past 12 years, each has left their mark on the Foundation. As a group and individually, they have shaped the impact of CFES through its grantmaking, fund development, and strategic vision.

Duke Marshall

Stephanie Willey

Dr. Julius Zant

20 | The Community Foundation of the Eastern Shore

2022 ANNUAL

AWARDS

The Community Foundation of the Eastern Shore presents four awards annually. These awards honor distinguished nonprofits, volunteers, and humanitarians in the Lower Shore community. Our annual achievements would not be possible without the dedication of our donors, volunteers, nonprofits, and local businesses. In turn, we honor their service.

Information on the nomination and selection process is available at CFES.org/awards.

RICHARD A. HENSON NONPROFIT AWARD OF EXCELLENCE

FRANK H. MORRIS HUMANITARIAN AWARD

MARY GLADYS JONES VOLUNTEER OF THE YEAR

Salisbury Neighborhood Housing Services

Mitzi Perdue

Sharon Upton

CHAIRMAN’S AWARD

Habitat for Humanity of Wicomico County

Velda Henry

Hank Meixner

2023 SPONSORS

2023 Annual Report | 21

FOUNDATION STAFF

Lauren Ansted Program Officer

Veronique Diriker Ph.D., CFRE Chief Advancement Officer

Victoria Kent Marketing Officer

David Plotts Controller

Sharon Dickson, CPA Finance Director

Heather Geraldes Program Director

Jessica Meehan Gifts & Grants Officer

Cathy Diekmann Program Officer

Erica Joseph President

Katerra Marshall Office Coordinator

Shelbie Thompson Development & Donor Relations Officer

BOARD OF DIRECTORS

James P. Jones, Chairman

Velda E. Henry, Vice Chairman M. Dean Lewis, Treasurer Dwight W. Marshall, Jr., Secretary Edward Barber Allen C. Brown, Sr. Robin L. Evans Dr. Carolyn S. Johnston 22 | The Community Foundation of the Eastern Shore

Andy Kim Ginnie H. Malone Tyrone E. Mills William R. McCain Melody S. Nelson Daniel M. O’Connell Janice M. Perdue John K. Phoebus

Gregory D. Tawes Michael P. Truitt Dr. Annette E. Wallace Sonya A. Whited Dr. George I. Whitehead, III Gayle H. Widdowson Stephanie T. Willey Dr. Julius D. Zant

FINANCIAL HIGHLIGHTS FISCAL YEAR 2023

GIFTS RECEIVED & GRANTS PAID

ASSET SUMMARY Assets Total Assets Total Net Assets

2023 $159,382,000 $110,038,000

2022 $144,509,000 $102,719,000

EXPENSES SUMMARY Expenses 2023 Program Services $6,025,000 Fundraising & Development $453,000 Management & General $537,000

Grants and Expenses Total Gifts Received Total Grants Paid Cumulative Grants Paid

2023 $8,043,000 $6,127,000 $107,613,000

2022 $9,875,000 $7,086,000 $101,486,000

10,000,000

2022 $5,462,000 $469,000 $584,000

8,000,000

6,000,000

4,000,000

Program Services

2,000,000

Fundraising & Development Management & General

0

2019

2020

2021

Total Gifts Received

2022

2023

Total Grants Paid

CREDITS Investment Advisor:

Mason Investment Advisory Services Investment Managers:

American Century Investments American Funds Dimensional Fund Advisors Dodge & Cox Funds Federated Hermes iShares Pimco Investments T. Rowe Price Funds Vanguard Auditor:

UHY, LLP

Investment Custodians:

Photography Contributions:

PNC Pershing

Kenny Pusey - PuzPics Grantee Photo Submissions

Legal Counsel:

Graphic Design:

Gil Allen, Allen & Allen, Chtd.

Victoria Kent, CFES

Membership Organizations:

Printing:

Candid.

Council on Foundations Grantmakers for Effective Organizations Maryland Nonprofits Maryland Community Foundation Assoc.

Maryland Philanthropy Network Professional Partners of the Eastern Shore

Delmarva Printing

All funds established at the Community Foundation of the Eastern Shore, Inc. are managed as provided by the Investment Policy Statement approved by the Board of Directors.

The Investment Committee oversees the process and selects and monitors investment managers through its consultant, Mason Investment Advisory Services, LLC. We provide a Quarterly Investment Report to all fundholders with their statement. Data presented as of June 30, 2023 unless otherwise indicated. A copy of the current financial statement of The Community Foundation of the Eastern Shore, Inc. is available by writing 1324 Belmont Ave Ste 401, Salisbury, MD 21804 or by calling (410) 742-9911. Financial Statements are also available at CFES.org. Documents and information submitted under the Maryland Solicitations Act are also available, for the cost of postage and copies, from the Maryland Secretary of State, State House, Annapolis MD 21401, (410) 974-5534.

2023 Annual Report | 23

Community Foundation of the Eastern Shore 1324 Belmont Ave. Ste. 401 Salisbury, MD 21804

- Est. 1984 24 | The Community Foundation of the Eastern Shore

410.742.9911 • CFES.org