AB UNDANCEE ABUNDANC IN ACTION 2 0 1 9 Ye a r E n d R e p o r t
Here’s what we accomplished TOGETHER.
$332 Million Total Assets • Historic High of $20 Million New Gifts • 95 Site Visits • Grants in 18 Counties • Assets Advised by Affiliate Boards • Total Giving of $254 Sustainability • 99 Students Awarded Scholarships • $3.8 2
Grants Awarded • 75 New Funds • $23.4 Million $681,000 Grants From Affiliate Funds • $17 Million Million Since 1978 • 190 Nonprofit Funds Supporting Million in Grants from Women for Women Since 2006 3
Board of Directors
Stephanie Norris Kiser Chair
From the Chair and President............................... 5
Sarah Sparboe Thornburg Vice-Chair
Sheryl Aikman Vice President, Development
People in Need.................................................... 6-7
Charles Frederick Treasurer
Food and Farming................................................8-9
Michael Fields Secretary
Early Childhood Development........................10-11
Maurean B. Adams
Natural and Cultural Resources .................... 12-13 Sources of Grantmaking Funds............................14 Grants by Program Area.......................................15
Caroline M. Avery Natalie Bailey Frank Castelblanco Guadalupe Chavarria, II William Clarke Connie Haire
Year in Review....................................................16-19
A.C. Honeycutt, Jr.
Riverbend Fund..................................................... 20
Services for Donors................................................21
Lowell R. Pearlman
Jewish Community Center..................................22
J. Chris Smith
Services for Nonprofits.........................................23 Professional Advisors......................................24-25 Womenâ€™s Philanthropy ...................................26-27 Affiliate Funds.................................................28-29 Financials...........................................................30-31
Susan Jenkins Joanne Badr Morgan Scott Shealy Stephen Watson Juanita Wilson
Philip Belcher Vice President, Programs Elizabeth Brazas President Elena Briceno Finance Associate Spencer Butler Donor Relations Officer Diane Crisp Grants Manager Becky Davis, CFRE Senior Development Officer Naomi Davis Finance and Human Resources Officer Virginia Dollar Senior Program Officer Angela Farnquist Donor Relations Associate Amber Harrelson-Williams Program Associate Lindsay Hearn Communications Director Angel Hines Office Administrator Graham Keever Chief Financial Officer Julie Klipp Nicholson Chief Operating Officer Lezette Parks Scholarship Officer Tara Scholtz Senior Program Officer Janet Sharp Senior Staff Accountant Rebecca Telberg Development Associate
Watch the Abundance in Action year-end video at www.cfwnc.org. 4
Sally Weldon Director of Information Technology
Photo by Michael Oppenheim.
From the Chair and President To have an abundance of something means you have more than you need. Taking the next step and sharing what you have is the generous impulse that underpins much of CFWNCâ€™s work. Fundholders and grant partners Hardy LeGwin and Susan Bicknell, profiled on page 20, appreciate the abundance in their lives and believe we are all here to help one another. Their approach to giving back is an attitude that is deeply rooted in community. This year, in partnership with generous donors, CFWNC facilitated $20 million in grants â€“ an all-time high. An abundance mindset and the passions of our donors drive the majority of the grants that leave CFWNC and support countless causes and nonprofits. At CFWNC, we are fortunate to witness abundance in action on an almost daily basis. This is not limited to funding. The commitment of the strong network of nonprofits serving WNC inspires us. Whether addressing hunger, affordable housing, early childhood development, or just about any issue you could identify, organizations in our region work efficiently and
effectively - cooperating and collaborating to meet as many needs as possible. Over the years, we have learned much from our nonprofit partners about how CFWNC can best support their efforts, and that education continues. Those of us who work in the nonprofit sector strive to avoid duplication of services; expand effective programs; and listen, learn and hold ourselves, and each other, accountable. Collectively, we share the responsibility of ensuring that the charitable assets meant to help WNC do just that. There are many reasons to be hopeful for a future based on sharing abundance and our common purpose to help our neighbors. After all, everyone has the capacity to offer something, even simple kindness, to another. It is a privilege to support a community of people working together to lift others up with dignity. We are grateful for that opportunity. Wishing you and yours abundance, Elizabeth Brazas President
Stephanie Norris Kiser Board Chair 5
People in Need
Freedom Life Ministries was awarded $15,000 to purchase a truck for its power washing program that provides transitional employment, training and life skills for formerly incarcerated people in McDowell County. Obtaining employment reduces the risk of re-arrest, but most employers are reluctant to hire applicants with criminal records. Photo above and middle right courtesy of Freedom Life Ministries. Housing Assistance Corporation was awarded $20,000 for home repair for homeowners in Henderson, Polk and Transylvania counties who live on 50% or below the areaâ€™s median income, many of whom are elderly or disabled. In order to qualify for the program, repairs must eliminate health and safety hazards; cosmetic repairs are not eligible. Photo right courtesy of Housing Assistance Corporation. Hospice House Foundation of WNC was awarded $15,000 for construction oversight administration of the $4 million inpatient hospice facility serving Cherokee, Clay, Graham, Jackson, Macon and Swain counties. Hospice Houses are inpatient facilities with a home-like setting staffed with an interdisciplinary team of clinicians that bring specialized skills and extensive knowledge about the dying process and end-of-life care. Photo far right courtesy of Hospice House Foundation of WNC. Aerial image by Eric Haggart, WNC Aerial Imagery.
2011 - 2019 $8,685,346 2019 Grants $1,302,671* Co-investment $569,939 (44%) Janirve Sudden and Urgent Needs 2019 Grants $96,738 Black Mountain Home for Children, Youth & Families Blue Ridge Community Health Services
Hope for Abuse Victims through Education & Nurturing Latino Advocacy Coalition
Community Bible Church of Highlands
Pigeon Community Multicultural Development Center
Eliada Homes Family Resources of Rutherford County Freedom Life Ministries
Safelight Union Mills Learning Center
*A complete list is available at www.cfwnc.org.
From CFWNCâ€™s earliest days, a core value has been to support human service nonprofits that work to ensure everyone has access to resources and services to meet their basic needs. CFWNCâ€™s work in People in Need would not be possible without the network of nonprofits that serve people facing challenging circumstances in Western North Carolina. In recent years, the grant program has distributed more than $1 million annually. That number represents dozens of nonprofits serving thousands of clients. This year, twenty-two donor advised funds and three private foundations provided co-investment for the grants. Another way that CFWNC supports human service organizations is through Janirve Sudden and Urgent Needs (SUN) grants. Since 2012, SUN grants of up to $10,000 have assisted human service organizations experiencing an unforeseen crisis that impedes their ability to continue their work. Small but crucial, SUN grants have provided emergency funding totaling $619,065 through 85 awards.
Food and Farming
Photos courtesy of ASAP.
2011 – 2019 Grants $1,376,610 2019 Grants $238,500 Co-investment $71,000 (30%) Appalachian Sustainable Agriculture Project (ASAP) Foothills Conservancy of North Carolina Macon County Public Health/MountainWise Organic Growers School Toe River Aggregation Center Training Organization Regional (TRACTOR) YMCA of Western North Carolina CFWNC’s grants in Food and Farming aim to support a sustainable local food system and address food insecurity. WNC’s hunger issues run deep, with one in four children identified as food insecure. Closely related to that is the daunting challenge the region faces in preserving farmland and access to locally-grown food. A strong partner in CFWNC’s efforts to address these issues is ASAP, an organization that helps local farms thrive, builds healthy communities and links farmers to markets and supporters. In 2019, CFWNC awarded ASAP $120,000 over three years to expand farmers’ direct sales by connecting farmers’ markets to consumer demand for healthy eating in 18 WNC counties.
Public demand is growing for foods that are fresh and minimally processed, offering farmers a significant opportunity to become more sustainable and contribute to improved community health. The project benefits farmers through increased farmers market sales, while providing community members greater access to fresh, healthy food. Other 2019 grants expanded the Double Up Food Bucks program that matches the value of federal nutrition dollars spent on fresh fruits and vegetables, the purchase of a new box truck for the YMCA’s Healthy Living Mobile Market, a conservation study for rural Polk and Rutherford counties, and an expansion of programming at TRACTOR and the Organic Growers School. Photo below: The Foothills Conservancy of North Carolina was awarded $15,000 to study the agricultural landscape near the Tryon International Equestrian Center (TIEC) to identify and prioritize farmland conservation opportunities.
Photo courtesy of TIEC.
Early Childhood Development
There is much discussion now about how social determinants of health – “factors ‘outside’ the current medical model – have a large impact on
our patients’ health outcomes. Education is one that clearly impacts the trajectory of a person’s life from the beginning, and disparities in early childhood literacy can be impacted with this simple program. – Dr. Heidi Knoll, MAHEC Pediatrician
2011 â€“ 2019 Grants $1,631,550 2019 Grants $345,020 Co-investment $155,400 (45%) Blue Ridge Partnership for Children Children First/Communities in Schools of Buncombe County Partnership for Children of the Foothills Reach Out and Read Carolinas Region A Partnership for Children United Way of Transylvania County YWCA of Asheville and WNC The goal of CFWNCâ€™s grants in Early Childhood is to improve educational and developmental outcomes for children ages 0-5. Investing in high-quality early care and education leads to improved outcomes for children, a stronger economy and more vibrant communities. Since 2012, CFWNC has made grants to expand Reach Out and Read Carolinas (ROR), an evidence-based program that involves medical providers in early literacy. Partnerships with doctors are the cornerstone of the intervention and the primary reason that ROR is evidence-based and scalable. When CFWNC began funding ROR, there were 14 active programs reaching 5,600 children. Currently, 39 health centers, clinics and hospitals ensure that families consistently receive literacy guidance and books during regular checkups, reaching more than 16,000 children and serving 15 of the 18
counties that CFWNC serves. CFWNC has awarded six grants totaling $135,000 supporting this growth. Crucial strategic partners have included local Smart Start agencies, Burke County Literacy Council, MAHEC Asheville and Hendersonville Residency programs, and WNC Community Health Services. Additionally, more than 150 individual doctors and nurses volunteer their time within the well-child visits and clinics to implement ROR. National and local booksellers, including Scholastic Inc., provide new books at deeply discounted prices. Moving forward, ROR is focused on ensuring that families establish healthy routines and relationships around books and stories from the earliest days of life. Other Early Childhood grants supported the advancement of the Yancey Alliance for Young Children, the work of the WNC Early Childhood Coalition, planning for the Partnership for Children of the Foothills, mobile resource units for Transylvania County, YWCA playground renovation and more.
Photos courtesy of Reach Out and Read.
Natural and Cultural Resources
Top photo: Past employee and now volunteer Dr. Paul Sisco using American chestnut pollen on a flowering orchard tree outside Asheville, NC. The nuts produced from this pollination are now planted in a WNC germplasm conservation orchard to preserve genetic diversity among the tree species as TACF prepares for full-scale species restoration. Top photo courtesy of TACF. Photos above courtesy of Blue Ridge National Heritage Area.
2011 – 2019 Grants $1,375,732 2019 Grants $208,412 Co-investment $40,000 (19%) The American Chestnut Foundation Asheville Art Museum Black Mountain College Museum + Arts Center Blue Ridge National Heritage Area Conserving Carolina Cowee Pottery School Madison County Arts Council MountainTrue Penland School of Craft Southern Appalachian Wilderness Stewards CFWNC invests in cultural and environmental projects to protect and enhance the region’s natural beauty and to support the region’s arts-based economy. The mission of The American Chestnut Foundation (TACF), headquartered in Buncombe County, is to return the iconic American chestnut tree to its native range. A Natural and Cultural Resources grant is supporting an Appalachian-wide project to collect samples from wild chestnut trees across WNC for genome sequencing to identify genetically diverse and underrepresented trees and determine what climate and soil variables provide maximum diversity and adaptation.
A grant to Blue Ridge National Heritage Area is providing critical matching dollars to access a larger Appalachian Regional Commission grant to support the second phase of the Blue Ridge Craft Trails Project, an effort to help visitors find their way to WNC artisans. During the first phase, which also received CFWNC funding, the project team identified more than 100 potential anchor sites and a web presence. Phase two of the regional tourism effort will expand the system of craft trails, train new initiative partners and market the trails. Natural and Cultural Resources funds also supported educational programming in conjunction with exhibits at the Asheville Art Museum and the Black Mountain College Museum + Arts Center; new kilns and staff at Cowee Pottery School; a CNC router for Penland School of Craft’s wood studio; land protection projects; and several capacity grants.
Since February, TreeSnap, an app used to record wild tree locations, was deployed by more than 2,000 new users to locate more than 1,800 American chestnut trees. Information gathered by scientists from these trees is contributing to the study of species diversity and better breeding programs. TACF and Virginia Tech recently received a $500,000 grant from the U.S. Department of Agriculture National Institute of Food and Agriculture to perform whole genome sequencing to study how genetic diversity is related to climate variation and to develop regional targets for conservation and propagation of wild trees for eventual use in breeding.
Appalachia Now!; photo courtesy of Asheville Art Museum.
SO U R CES O F G RANT MAKING FUND S Donor advised
Between July 1, 2018, and NPO June 30, 2019, in partnership with fundholders, 21.5% Designated donors and affiliates, CFWNC awarded $2010.6% million in grants and scholarships Scholarship 2.0% FOI North Carolina 12.9% and beyond. across Western
Donor Advised Grants are
recommended by the donors who established the funds or the named advisor. Fundholders often choose to partner with CFWNC to fund grants aligned with their interests.
Nonprofit Funds provide cost-
effective investment strategies and enhanced stewardship for nonprofit organizational assets.
Designated Grants are made from funds created by a donor to support a specific nonprofit organization.
Scholarships are awarded to help
students achieve their educational goals. CFWNC administers 45 scholarship funds for students across the region.
Field of Interest Grants are
awarded through Focus Areas and other grant programs.
Affiliate Funds support grantmaking
in specific geographic areas.
Unrestricted Funds are awarded
through CFWNC grant programs and initiatives.
onor advised O signated holarship I ffiliate nrestricted
G RAN TS B Y PROGRAM AREA 49.6% 21.5% 10.6% 2.0% 12.9% 2.2% 1.3%
$20 Million 3%
16% 18% Animal Welfare Arts Community/ Economic Vitality Environment Education Health People in Need Scholarships Religion
Photo courtesy of Riley Howell Foundation Fund.
The Riley Howell Foundation Fund awarded grants to the University of North Carolina at Charlotte and STEM School Highlands Ranch in Colorado to fund traumatic grief counseling services for students and faculty affected by the shootings on those campuses.
The Charlie and Tennie Allison Gibbs Charitable Fund makes grants to benefit the hearing impaired in Transylvania County. In 2019, a $15,000 grant installed a hearing loop system that magnetically transmits sound to hearing aids and cochlear implants in the Transylvania Board of Commissioners Chambers.
Melvin R. Lane Fund Grants Total $900,000 Six nonprofits will receive $900,000 over three years from the Melvin R. Lane Fund to help them improve operations and become more collaborative and sustainable to better support WNC citizens in disadvantaged circumstances. Each will receive $150,000 over three years.
The 2020-2022 recipients are: Children First/Communities In Schools of Buncombe County Community Housing Coalition of Madison County
Vecinos Farmworker Health Program
Community Housing Coalition of Madison County hired housing rehabilitation specialists and development staff to build capacity so that urgent repairs can be made to 45 low-income homes in Madison County, currently on the waiting list.
Photo courtesy of Community Housing Coalition.
St. Gerard House Thrive
Community Tool School: Shop Class for Girls Through UNC Asheville support and grants from CFWNC and the Windgate Foundation, UNC Asheville’s STEAM studio hosted an afterschool program and three summer camps for girls designed to introduce them to designing, building and engineering through classes taught by women. “It is important that girls have opportunities to immerse themselves in design processes and to build and make things in a supportive
environment,” said Jeannie Regan, Outreach Coordinator. “Community Tool School can lead participants to a deeper understanding of themselves and their capabilities, and encourage further STEAM education and careers.” The program is continuing and building with more afterschool programs, summer camps and potentially weekend workshops for women and girls. Learn more at steam.studio.unca.edu.
“This is probably the best summer I’ve had in a long time. It’s because there are all these awesome people, and all these girls here who enjoy what they are doing now. And it was something to help me figure out what I want to do when I am older. It was just an amazing experience that I’m going to remember, and one day, hopefully, I will be working here at the UNC Asheville STEAM Studio.” – Jade Smith
Jade Smith on the bench she made during Community Tool School summer camp. Photo courtesy of UNC Asheville STEAM Studio.
ASHEVILLE MERCHANTS FUND The Asheville Merchants Fund awarded $50,000 to the Buncombe County Schools Graduation Initiative, one of nine grants totaling $445,000 for projects designed to strengthen community and stimulate economic growth. The Graduation Initiative takes place in the summer and allows students to earn credits in a small, one-on-one environment so that they graduate on time and are prepared for next steps.
The program connects teachers and students across Buncombe County. Other grantees included Appalachian Sustainable Agriculture Project, Asheville Area Habitat for Humanity, Asheville City Schools Foundation, Center for Agricultural and Food Entrepreneurship, My Daddy Taught Me That, Mountain BizWorks, United Way of Asheville and Buncombe County and Working Wheels.
Photo courtesy of Buncombe County Schools.
Biltmore Lake Charitable Fund awarded seven grants totaling $58,700 bringing total grantmaking since 2005 to $916,704. LEARNING LINKS GRANTS OF $95,736 SUPPORTED TEACHERS AND STUDENTS A $3,200 Learning Links grant to Thomas Jefferson Classical Academy in Rutherford County funded a one-day reenactment of the Revolutionary period. Uniting the resources of historians, local artisans and educators, the event provided cross-disciplinary experiences for sixth-to-twelfth grade students who researched history and activities and planned the living history event. More than 50 students planned the day that was attended by more than 300 people. Photo courtesy of Thomas Jefferson Classical Academy.
Pigeon River Fund Supported Clean Water Efforts
In 2019, the Pigeon River Fund awarded eighteen grants to nonprofits in Buncombe, Haywood and Madison counties to environmental groups working to improve surface water quality, enhance fish and wildlife habitats, expand public use and access 18
to waterways, and increase water quality awareness. The Pigeon River Fund was established through an agreement between Carolina Power & Light (now Duke Energy) and the State of North Carolina. More than $7.3 million in grants have been awarded since 1996.
RiverLink was awarded $28,000 to conduct a study of the River Arts District watershed and $35,000 to restore 1600 linear feet of Smith Mill Creek, an impaired stream in West Asheville. Photo courtesy of RiverLink.
Power of the Purse
Two-time Olympic gold medalist, author and activist Abby Wambach was the featured speaker at the 15th Annual Power of the Purse®. With 184 career goals, Wambach is the all-time leading scorer in the history of international soccer, an activist for equality and pay equity and the author of the New York Times bestseller Forward: A Memoir and WOLFPACK. Wambach asked the audience to educate themselves in order to build understanding and awareness. “We need to come together, bridge gaps and open ourselves up to change,” she said. In reference to the experience of failure, she told attendees that you are allowed to be disappointed if you are benched, but you are not allowed to miss an opportunity to lead from the bench. “Work to make the people around you better, champion other women and make failure your fuel,” she said. “When women bet on themselves and do it collectively, they win.” A highlight of the afternoon was the announcement of six grants totaling $341,800 from the Women for Women giving circle. More on page 27. Photo by Michael Oppenheim
S C H O L A R S H I P S
CFWNC approved scholarships totaling $587,000 to students in 57 schools in 22 counties in Western North Carolina. Sixty volunteers worked to review applications and select recipients. Scholarship Officer Lezette Parks coordinates the process and says, “It is a privilege to work with students,
counselors and volunteers from all over Western North Carolina. I would not be able to do my job well without their help.” Earlier this year, CFWNC received the postcard (at left) from scholarship recipient Elizabeth Williams who received awards from the Murice C. Talley Memorial Endowment Fund and the Newton Academy-Forster/ Stevens Scholarship Fund. CFWNC enjoys hearing from recipients and learning what educational and professional goals were launched through scholarship support. Since the early ‘90s, CFWNC scholarships totaling more than $7.5 million have been awarded to nearly 5,000 students.
Affiliate Anniversary Jim Buckner founded CFWNC affiliate Black Mountain-Swannanoa Valley Endowment Fund in 1999 with his attorney and Black Mountain mayor at the time Mike Begley. The Fund has contributed more than $1 million in grants throughout the Swannanoa Valley. Development Associate Rebecca Telberg is pictured below with six of the more than 200 original funders of the Black Mountain-Swannanoa Valley Endowment Fund, at its 20th anniversary celebration.
Here to Help and Share through the Riverbend Fund Entrepreneur Hardy LeGwin and educator Susan Bicknell opened a fund with CFWNC in 2015. Hardy had started a series of businesses in the region including a successful solar company that was sold in 2016. “In anticipation of that sale we wanted to make sure that we could expand our philanthropy,” said Hardy. “With advice from our estate planning attorney and financial advisor, we started looking more closely at using The Community Foundation as a vehicle for our giving. We thought a donor advised fund was the perfect way to fund our charitable legacy.” Now, in addition to recommending grants from the resulting donor advised fund, Hardy and Susan often co-invest with CFWNC to fund discretionary grants. “One of the things we really like about the Foundation is that you bring us opportunities we wouldn’t otherwise know about,” said Hardy. “You’ve done the due diligence on it, you’ve done all the homework, and that makes it really easy for us to say yes. We think it’s a great way to leverage our donations to create a greater impact in the local community.” “Most of the time we say yes because they are great opportunities that really fit with our values,” added Susan.
20 by Michael Oppenheim. Photo
“We could spend time doing our own research, but CFWNC is doing a better job than we would do, and nonprofits come to you with interesting projects. We also love that we can do a piece of it. We enjoy collaboration and the feeling that we are working with other people to move things forward.” “Working with Donor Relations Officer Spencer Butler on coinvestment makes the process seamless,” continued Hardy. “The administrative part of our giving is handled really well.” “We have been extremely blessed by the abundance in our lives,” said Susan. “We believe we are all here to share and help one another in whatever way we can, and we are thankful and privileged to be able to share that abundance.” Hardy and Susan focus their giving on the environment, education, social justice and farming. “A lot of our focus is on local food supply and sustainable agriculture,” said Susan. “We used to be farmers in Madison County and have an appreciation for the value that farmers bring. We want to see farms preserved and farmers supported. Riverbend was the name of our farm in Marshall. It sat right at the bend of the French Broad River. Naming our fund after the farm was a wonderful way to pay tribute to it.”
Services for Donors Giving
CFWNC is here to help you support what matters most to you – in Western North Carolina and beyond. We offer convenient, customized giving solutions and tax-advantaged strategies. Whether you want to make a gift today or create a charitable legacy, we can help you craft a plan that’s personal, thorough and effective.
Every fund is professionally invested, so gifts grow over time for more charitable impact. In some situations, you can select your investment pool.
Becoming a Fundholder A relationship with CFWNC begins with your goals and interests. You choose your level of involvement and timing and decide whether to involve family or others in giving decisions. Your giving can be acknowledged or remain anonymous.
What to Give You can give cash, marketable securities and mutual fund shares, closely held stock, retirement accounts, interest in a limited liability partnership, life insurance, real estate or private foundation assets. Your professional advisors can be involved, ensuring coordination across your charitable, financial and estate planning.
Watch the How We Work with Donors video at www.cfwnc.org.
Grants Make secure, on-line grant recommendations and check fund activity anytime. If you prefer to talk with someone, we’re available by phone, email and in person.
Advice and Opportunity Your giving can be more rewarding when you take advantage of CFWNC’s philanthropic expertise and regional knowledge. If you wish, we will share information about community issues, introduce you to philanthropic and community leaders and keep you updated on local funding opportunities.
Estate Planning As you plan, we can provide advice on a range of giving options, centered on your charitable priorities. There are charitable giving vehicles to address current income needs, provide for heirs or ease estate administration. 21
Partnering with Asheville’s Jewish Community Center Asheville’s Jewish Community Center (JCC) has been building community and sharing Jewish traditions, value and culture since 1940. With inclusive programming and spaces, the JCC welcomes people of every background and belief. In 2006, the JCC opened a CFWNC endowment fund that provides dependable annual income for operations. “With most nonprofits, the reality is that funding shifts regularly,” explained Ashley Lasher, Executive Director. “Steady, unrestricted income through our endowment fund provides a sense of financial security that allows us to devote more time and energy to our mission and programs.”
The JCC has also received competitive grant funding including a Janirve Sudden and Urgent Needs (SUN) award to improve security. “It is incredible that SUN grants provide funding for organizations’ nontraditional expenses in their times of heightened and/or unusual need,” said Lasher. Another earlier grant allowed the JCC to create an educational children’s garden that led to the development of a Jewish garden curriculum that has become a model for other JCCs around the country.
“We count ourselves fortunate and grateful to receive funding through our endowment and grants from donor advised funds at CFWNC,” said Lasher. “We also JCC staff, board and donors have also Photos by Michael Oppenheim. appreciate that a rising tide raises all ships. participated in CFWNC workshops A strong community foundation with engaged donors helps for nonprofits that provide information on investment all organizations within a community. When donors feel strategies, other giving instruments and donor development. supported, educated and stewarded, they are more likely Lasher says that the JCC is a more sophisticated fundraising to engage in future philanthropic endeavors, through donor organization thanks to the training and finds CFWNC staff advised funds, leadership voluntarism and otherwise. Our highly professional, experienced and committed to providing entire community, including the JCC, benefits from our tools nonprofits need to succeed. proximity to a thriving community foundation.”
Photo captions: The JCC enriches the lives of children with Jewish valuesbased learning; offers adults life-enhancing social programming; creates safe, inclusive spaces for children on the spectrum to participate in the joys of summer camp; and much more. Photos courtesy of the JCC.
Services for Nonprofits Nonprofits choose to invest their assets with CFWNC to gain access to institutional-caliber strategies in a cost-effective manner and because they know and trust CFWNC. Nonprofit assets under management account for 23 percent of CFWNC’s total funds or $75 million. It is an honor to serve WNC nonprofits.
WNC Nonprofit Pathways
Most of CFWNC’s grants are donor advised, supporting hundreds of nonprofits. Grants from discretionary funds and field of interest funds are made in alignment with the focus areas. Grant programs and deadlines are listed on our website. For additional information, contact Grants Manager Diane Crisp at 828-367-9904.
Pathways is a funders’ collaborative formed in 2006 that supports the nonprofit sector by building skills and strengthening organizations. In 2019, Pathways services reached 254 nonprofits in the 18-county region.
Nonprofit Funds CFWNC helps regional nonprofits by offering expertise in administration and investment management. Nonprofit fundholders complement their development efforts with a full range of charitable products such as gift annuities and remainder trusts. CFWNC is available to help negotiate complex gifts and provide solutions. Nonprofit funds gain access to layers of supervision, diversity of investments, benchmarks and standards that an independent portfolio might not command on its own. For information about opening a nonprofit fund, contact Senior Development Officer Becky Davis at 828-367-9905.
CFWNC supports the efforts of nonprofits to be as efficient and effective as possible through Pathways participation. Other funders include the Cherokee Preservation Foundation, the United Way of Asheville and Buncombe County, The Duke Endowment, Duke Energy Foundation and the Blue Cross and Blue Shield of North Carolina Foundation. Last year, CFWNC made eleven Capacity Grants in partnership with Pathways, totaling $92,000 in alignment with CFWNC focus areas. For more information, visit the Pathways website at www.nonprofitpathways.org.
Throughout the year, advisors stay informed and connected though CFWNC’s annual professional seminar, informal “lunch and learns” and a newsletter highlighting tax and estate planning news. Subscribe to receive updates at www.cfwnc.org.
Top photo: Ed Towson, Gould Killian CPA Group, and Elizabeth Brazas. Photos left to right: John Glover, Hilliard Lyons, and McCray Benson, Community Foundation of Henderson County; Julie Klipp Nicholson and Sara Sparboe Thornburg, McGuire, Wood & Bissette Law Firm; and Sheryl Aikman and Austin Pullicin, Northwestern Mutual.
Services for Professional Advisors Working Together for People Who Want to Give Back Community foundations are a unique vehicle for charitable giving. With deep knowledge of community needs and philanthropy, The Community Foundation supports professional advisors and their clients through every step of the giving process including:
• Identifying charitable interests and goals • Matching personal charitable interests with community needs • Integrating charitable plans with personal, financial and business decisions • Establishing a giving plan for now, or defining a legacy for the future
Professional Advisory Committee CFWNC’s Professional Advisory Committee provides important guidance and expertise, and we thank them for their partnership. Sarah Sparboe Thornburg, McGuire, Wood & Bissette Law Firm, Chair L. Daniel Akers, Jr., Altavista Wealth Management, Inc. James W. Baley, Dixon Hughes Goodman LLP Mike Begley, Begley Law Firm, P.A. Vincent D. Childress, Jr., Roberts & Stevens P.A. R. Walton Davis, R. Walton Davis, III, P.A. Evan Gilreath, Gilreath Shealy Law PLLC Matthew L. Groome, Colton Groome & Company Larry B. Harris, CPA, CFP, Parsec Financial Management, Inc. BJ Kilgore, The VanWinkle Law Firm Harris Livingstain, McGuire, Wood & Bissette Law Firm Shon Norris, Gould Killian CPA Group, P.A. Kale Olson, Hilliard Lyons Harli L. Palme, Parsec Financial Management, Inc. Townsend Tanner, Wells Fargo Advisors LLC, CFP® Carter Webb, Strauss & Associates, PA 25
Women for Women is a giving circle that improves the lives of women and girls through the power of collective giving.
Since 2006, the Women for Women giving circle has distributed more than $3.8 million to nonprofits supporting WNC women and girls. In May, at the 15th and final Power of the Purse® luncheon, the Women for Women giving circle awarded $341,800 in two-year grants to: ABCCM: $44,800 to expand services to women affected by intimate partner or sexual violence who are actively involved in Buncombe County’s Drug Treatment Court Boys & Girls Club of Henderson County: $32,000 to provide year-round, out-of-school care and programming for children living in domestic violence situations Council on Aging of Buncombe County: $100,000 to provide support, education and advocacy to older adults in situations of abuse, neglect and exploitation Homeward Bound of WNC: $100,000 to transition chronically homeless women with a history of intimate partner or sexual violence into safe, permanent housing
Working Wheels: $45,000 to increase capacity to repair donated vehicles and provide dependable cars to survivors of intimate partner violence Youth OUTright WNC: $20,000 to provide outreach, advocacy and age-appropriate consent education to schools and youth-serving organizations
Get Involved Join the Giving Circle - members make a tax-deductible contribution of $1,100 each year for at least three years; $1,000 is granted out and $100 supports administrative costs. Membership currently exceeds 280 women. Give to The Women’s Fund – endowment proceeds are distributed through the Women for Women grant program. This year, $51,000 was added to grant funds. Give to the WFW Endowment Fund that supports the giving circle’s activities and sustainability.
Photos above, from left: Julia Akers and Pam Lane with Lorena Russell of Youth OUTright at Power of the Purse®; Fall Focus speakers Transylvania County Manager Jaime Laughter, Buncombe County Manager Avril Pinder and Asheville City Manager Debra Campbell discussed issues impacting women, barriers to women’s participation in the political process and city/county items addressing those issues. Power of the Purse® speaker Abby Wambach with Emily and Peggy Partin. Power of the Purse® photos by Michael Oppenheim. Left photo: Toya Hauf, Kitty Schaller, Mary Farmer and Patsy Keever attended the Fall Focus event.
KidSenses, Rutherford County
ML Performing Arts Center, Cashiers
Dig In, Yancey County
Hights, Haywood County
Muddy Sneakers, Transylvania County
Literacy Council, Highlands
28 Partners Aligned Toward Health, Mitchell County
Brackett Town Farms, McDowell County
Habitat for Humanity, Swannanoa Valley
Starting in 1992, CFWNC encouraged the growth of affiliate funds to build charitable capital to address local needs. In 2019, CFWNC’s nine affiliates conducted independent grant cycles tailored to their communities that distributed $681,183 – grants with the flexibility to do the most good in their communities. Black Mountain – Swannanoa Valley Endowment Fund
Rutherford County Endowment Established in 1996; June 30 assets surpassed $1.8 million
Established in 1999; June 30 assets* surpassed $2.5 million Advisory Board Members: Kannah Begley, Mary Anna Belz, John Buckner, John Corkran, Chip Craig (Chair), Barbara Griffin, Carol Groben, C. Roger Hibbard, Margaret Hurt, Scott Roy, Joseph Standaert and Lori Turley *The Board also makes grants from the Buckner Family Endowment Fund, the Helen S. and Jerry M. Newbold, Jr. Endowment Fund and the Forbes Fund for Black Mountain-Swannanoa Valley.
Cashiers Community Fund
Established in 1992; June 30 assets* surpassed $3.4 million Advisory Board Members: Lisa Bates, Jeanne Builder, Bill Canby, Shannon Hargrove (Chair), Melissa Hudson, Carol Hunter, Harriet Karro, Jochen Lucke, Harry Phillips, Jr., Linda Quick, Jeff Sikes, Toby Summerour and Barbara Tickle
Highlands Community Fund
Established in 1996; June 30 assets* surpassed $1.6 million Advisory Board Members: Kathy Bowman, Caroline Cook, Gayle Cummings, Melissa Delany, Ann Klamon, Jim Landon (Chair), George Manning, Jeff Nixon, Diane Riddle, Jim Stokes, Derek Taylor, Cindy Trevathan and Jeff Weller *The Board also makes grants from the Mildred Miller Fort Charitable Fund.
The McDowell Endowment Established in 1995; June 30 assets* surpassed $1.1 million
*The Board also makes grants from the Lyn K. Holloway Memorial Fund.
Advisory Board Members: Marion Baker, Vicki Burton, Simeon R. Cross (Chair), Marsh Dark, Juanita Doggett, Nancy Hunter, Michael Lavender, Ray McKesson, Rob Noyes, Sharon Parker, Jan Ramsey, Nancy Spencer and Bobbie Young
The Fund for Haywood County Established in 1994; June 30 assets* surpassed $1.4 million
*The Board also makes grants from the Margaret Westmoreland Gibson Memorial Fund, Greenlee Family Fund, A.C. Hogan Family Fund and the Daniel I. and Joy Q. Shuford Fund.
Advisory Board Members: Adam Bridges, Kim Ferguson, Jeff Haynes, Anna Jorstad, Christine Mallette (Chair), Scott McLeod, Stephen McNeil, Carol Peterson, Jonathan Song, Donald Stanton, Mathew Underwood and Sarah Wenzel *The Board also makes grants from the J. Aaron and Adora H. Prevost Endowment Fund and the Mib and Phil Medford Endowment Fund.
The Fund for Mitchell County Established in 1999; June 30 assets surpassed $1 million Advisory Board Members: Beverly Ayscue, Robin Buchanan, Chris Day, Janie DeVos, Kathey Hollifield, Nick Joerling (Chair), George Nero, Becky Plummer, Brandon Roberts and Brenda Sparks
Advisory Board Members: Jane Alexander Bell, John Condrey (Chair), Lucille Dalton, David Eaker, Nancy Giles, Jackie Hampton, Sally Lesher, Keven McCammon, Mike Tanner, Judy Toney and Diane Warner
Transylvania Endowment Established in 1998; June 30 assets* surpassed $1.6 million Advisory Board Members: Don Bieger, John Goins (Chair), Don Guffey, Char Holbrook, Beth Holimon, Patti Jerome, Beth Lastinger, Scott Latell, Layne Racht, Robin Saul, Mark Shevory, John Shoemaker, Jerry Stone and Judy Welch *The Board also makes grants from the Richard G. Adamson Memorial Fund, Duncan-Bicknell Endowment Fund, Burlingame Charitable Fund, Lake Toxaway Charities Endowment Fund, My Brother’s Keeper Fund, Bobby Orr Memorial Fund for Transylvania County Sheriff’s Department, Karen Wilde Memorial Fund for Brevard Police Department, Transylvania Directors’ Fund and Holbrook-Nichols Transylvania Housing Assistance Fund.
The Yancey Fund
Established in 1998; June 30 assets* surpassed $2.5 million Advisory Board Members: Jim Ashton, Jill Austin, Gretchen Banks, Larissa Bare, Amber Westall Briggs, Frances Coletta, Julia Fox, Jim Gentry, Linda Goldberg, David McIntosh, Jamie McMahan, Bryan Peterson, Ron Powell and Greg Stella (Chair) *The Board also makes grants from the BaileyHilliard Fund. 29
FINANCIALS The Board of Directors oversees the stewardship of CFWNCâ€™s assets. The Investment Committee, comprised of local professionals with investment and financial expertise, has responsibility for all activities including policy, asset allocation and performance review. A consulting firm supports our work through analytical studies, manager searches and compilation of performance data. Multiple investment managers apply their knowledge and experience in portfolio management to the process.
Fundholders can recommend an investment option from among multiple portfolios under the oversight of the Investment Committee. The primary investment pool utilized by our donors is a broadly-diversified portfolio that provides strategic allocations to equities, fixed income, alternative investments and real assets. The Foundation also maintains valued investment management relationships with the following firms:
CFWNC has a sustained record of prudent investment management. We offer donors and nonprofits access to institutional investment strategies and management typically available only to larger investors.
Altamont Capital Management Altavista Wealth Management Boys Arnold & Company Colton Groome & Company Merrill Lynch Parsec Financial Management Peoples United Advisors, Inc. (CT) Raymond James & Company StoneStreet Wealth Management UBS Wealth Management
Annualized Investment Returns
as of 6/30/19:
CFWNC Benchmark* Global Equity One Year 3.9% 7.3% Alternative Investments Three Years 7.4% 8.3% Real Assets Five Years 4.3% 5.4% Fixed Income & Cash Ten Years 7.8% 8.2%
54.9% 22% 5.4% 17.7%
*The benchmark utilized is 60% MSCI All-Country World Index, 40% Barclays Aggregate Index. Investment returns are reported net of investment expenses.
Note: Standards of financial accounting for nonprofit organizations affect the reporting of charitable remainder trusts and certain endowment funds managed by CFWNC for other nonprofit organizations. On the statement of activities, among the categories of revenue and expense impacted by these reporting requirements are Contributions and Program Services, which includes grant distributions. References to Contributions and Grants in other parts of this report reflect total contributions received and total grants disbursed.
Statement of Financial Position Assets
Cash & cash equivalents Prepaid expenses Accounts receivable Note receivable Investments without donor restrictions Property and equipment, net Real Estate Investments with donor restrictions
2019 2018 5,229,150 56,033 183,582 - 78,195,728 2,234,849 - 1245,295,291
11,335,534 402 162,303 1,000,000 69,219,358 2,301,252 26,000 237,532,055
Liabilities and Net Assets Liabilities
Grants and scholarships payable Accounts payable and accrued liabilities Long-term debt Liabilities under split-interest agreements Funds held as agency endowments
515,955 8,856 309,321 4,923,832 7776,368,135
Total net assets
Without donor restrictions With donor restrictions
Total liabilities and net assets
453,741 14,026 749,310 5,010,743 74,345,773
Statement Of Activities
2019 2018 Revenues and other support:
Contributions Investment Income Realized and unrealized losses - net Change in value of split-interest agreements Management fee income Grant income Other income
18,846,586 2,879,787 6,107,300 (510,233) 498,764 146,925 3 33334,414
28,815,675 2,594,104 11,383,263 (741,514) 460,255 108,610 241,123
Total revenues and other support 28,303,543
Grants & Program services Supporting services
Total Expenses 20,238,320 19,127,183 Change in net assets 8,065,223 23,734,333 Net assets, beginning of year 241,003,311 Net assets, end of year 249,068,534
4 Vanderbilt Park Drive, Suite 300 Asheville NC 28803 828-254-4960 www.cfwnc.org
Cartoons by Next Day Animations. Map photos, pages 2-3, from left: Reichman Scholarship Meeting; Learning Links, Swain Public Schools; Highland-Cashiers Land Trust; HIGHTS; Muddy Sneakers; Verner Center for Early Learning; Dig In! Yancey Community Garden; Brackett Town Farms; Mitchell County Animal Rescue; and Rutherford Housing Partnership.
Confirmed in compliance with national standards for US Community Foundations
CFWNC year in review, abundance in Action 2019 year end report.