Community Foundation of Broward Strategic Plan (updated)

BOLD Voice for Broward Strategic Plan 2022-2026 Adopted by the Board of Directors 11/30/2021

A ROADMAP TO OUR FUTURE

A ROADMAP TO OUR FUTURE

The strategic planning committee and senior staff of the Community Foundation of Broward are proud to present this plan to the Board of Directors for consideration.

The eight-month strategic planning process began in March 2021 and concluded in October of 2021. During that time, more than 70 community and business leaders, nonprofit organizations, Fundholders, Legacy Society members, Community Foundation partners and staff participated in focus groups. We also reviewed years of data and reports, as well as previous strategic plans, including the most recent Think Big plan initiated in 2015.

This new strategic plan builds on the Community Foundation’s rich history, which started with Jack and Libby Deinhardt, was built upon by Jan Crocker and Linda Carter and complimented by

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an amazing collection of Board members, professional staff and volunteers.

The strategic planning process, specifically the focus groups, provided clear insight and revealed areas in which the community wants and needs our help, our leadership and our resources.

We were challenged to rethink some of our core beliefs and values. One of the most significant takeaways was simply the answer to the question, who is our customer? The traditional answer may have been, our Fundholders, but we heard loud and clear from everyone, including our Fundholders, that our customer is our community. This became the prevailing theme as our new strategic plan was built.

We were challenged to consider how we can better support and lift up partner nonprofits that our community depends upon. We also took a deep dive into our grantmaking, exploring new ways to create powerful impact and expand our courageous leadership on complex issues. These are exciting and momentous shifts for the Foundation.

1. Deliver community leadership on critical issues 2. Enhance Broward’s nonprofit capacity 3. Provide exemplary donor services and experiences 4. Diversify Foundation assets and grow philanthropy in Broward 5. Promote the Foundation’s value and role 6. Remain a strong, stable and forward focused organization

A ROADMAP TO OUR FUTURE

Six priorities were identified through the focus groups:

The new strategic plan embraces these six priorities and reinforces our commitment to our community. It challenges us to proactively grow our assets and clearly define the value and service we provide our Fundholders - while embracing racial equity, diversity and inclusion in

We welcome your thoughts and perspective on this plan and appreciate the time you have devoted to the success of this organization. And, we would be remiss if we did not express appreciation to Chris Sutherland Mockler for her expert assistance through this process. We are excited to start implementing this roadmap to our future which builds on a strong and dynamic past. We will continue to ensure the Community Foundation of Broward is uniquely able to serve and support Broward County for good, forever.

Thank you,

Juliet Roulhac

Chair, Strategic Planning Committee

Jennifer O’Flannery Anderson, Ph.D. President/CEO

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everything we do.

TABLE OF CONTENTS

Vision / Mission / Values . . . . . . . . . . . . . . . . . . 1

Pillars 1-6 PILLAR ONE: Community Leadership . . . . . . .

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PILLAR TWO: Donor Services . . . . . . . . . . . . 4 PILLAR THREE: Asset Growth . . . . . . . . . . . . 5 PILLAR FOUR: Community Impact . . . . . . . . . . . 6 PILLAR FIVE: CFB Brand . . . . . . . . . . . . . . . . . 7 PILLAR SIX: Operations . . . . . . . . . . . . . . . . . . 8

Appendix Grantmaking Framework . . . . . . . . . . . . . . . . . 9 Historical and Projected Asset Growth Chart . . . . . 10 Strategic Plan Implementation Timeline . . . . . . . 11

Closing Thought . . . . . . . . . . . . . . . . . . . . . . 12

Our community is a vibrant place where all can thrive, feel connected and have the opportunity to reach their full potential.

MISSION To transform our community through focused leadership that fosters collaboration, builds endowment, advances equity and connects people who care to causes that matter.

VALUES The Community Foundation of Broward is committed to achieving our mission and vision by upholding the following values:

VISION | MISSION | VALUES

VISION

1. LEAD WITH PURPOSE: We take bold strategic action as a community champion focused on a more vibrant and prosperous Broward for all.

2. CHERISH DIVERSITY: We treasure diversity, stand for equity and foster inclusion

3. CREATE COLLABORATION: We forge dynamic collaborations with community partners and create innovative solutions to Broward’s biggest challenges.

4. EMPOWER PHILANTHROPY: We partner with visionary residents to grow enduring philanthropy that benefits our community for generations to come.

5. LISTEN, LEARN AND SHARE: We evolve and grow to serve the changing needs of our community.

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within our organization and across our community.

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PILLARS 1-6

PILLAR ONE: Community Leadership . . . . . . . . . . 3 Enhance CFB’s role in community leadership to affect meaningful change on the most critical or persistent challenges

PILLAR TWO: Donor Services . . . . . . . . . . . . . . . 4 Ensure CFB delivers the most enriching and impactful donor experience in South Florida

PILLAR THREE: Asset Growth . . . . . . . . . . . . . .

Have a greater tangible impact on Broward’s pressing needs by growing CFB’s total assets by $110M to $386M by 2026

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PILLAR FOUR: Community Impact . . . . . . . . . . . . . . 6 Refocus CFB’s grantmaking and communicate our community impact in Broward

PILLAR FIVE: CFB Brand . . . . . . . . . . . . . . . . . . . . 7 Grow and spread CFB’s brand and mission to Lead, Share, Connect and Serve Broward as a community and philanthropic champion

PILLAR SIX: Operations . . . . . . . . . . . . . . . . . . . . . 8 Be strong, stable, forward-focused and relevant in service to Broward

Enhance CFB’s role in community leadership to affect meaningful change on the most critical or persistent challenges OBJECTIVE 1: Determine CFB’s capacity for the number of significant leadership

PILLAR ONE

PILLAR ONE: COMMUNITY LEADERSHIP

issues undertaken at any one time, and the length/duration of commitment and investment required for each.

Measurable Outcome: By June 2022, we will complete a process to assess the volume of leadership activity that is sustainable by CFB.

OBJECTIVE 2: Proactively identify, vet and select key issues where CFB can provide concentrated leadership through grantmaking, research, human capital and influence.

Measurable Outcome: By June 2024, one or more issues have been identified and scheduled for implementation.

OBJECTIVE 3: Foster collaboration on chosen key issues, capitalizing on our ability to convene nonprofits and other partners.

Measurable Outcome: By June 2026, significant collaborations established to tackle key

OBJECTIVE 4: Embrace CFB’s role supporting nonprofit excellence.

Measurable Outcome: By June 2023, Nonprofit Center for Excellence is operational; by December 2025, 500 nonprofits are served through the center.

OBJECTIVE 5: Determine specific ways CFB can lead to advance equity in Broward.

Measurable Outcome: By June 2026, CFB has selected a path forward to be a leader on diversity, equity and inclusion, operationalized the plan and achieved results.

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community issues that are supported by CFB.

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PILLAR TWO

PILLAR TWO: DONOR SERVICES Ensure CFB delivers the most enriching and impactful donor experience in South Florida OBJECTIVE 1: Define and articulate CFB’s donor products and services, our core business and value proposition and what differentiates us.

Measurable Outcomes: By June 2022, the Board has reviewed and approved a statement that reflects the Foundation’s core business, articulates our products and services and defines our value proposition to stakeholders.

OBJECTIVE 2: Define donor levels of service and Fundholder benefits.

Measurable Outcomes: By December 2022, new levels of service, Fundholder levels of service and Fundholder benefits are implemented.

OBJECTIVE 3: Reorganize Donor Services and Community Impact teams to enhance donor services.

Measurable Outcomes: By June 2022, Donor Services team reorganized and separated from

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Community Impact team’s functions.

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OBJECTIVE 4: Develop and provide more valued donor education and interactive experiences, including online content and services.

Measurable Outcomes: By June 2023, completed baseline assessment of current donor education and interactive engagement experiences; by December 2025, donor feedback indicates a higher degree of satisfaction with offerings and experiences.

OBJECTIVE 5: Broaden donor support for CFB’s priority grantmaking focus areas.

Measurable Outcomes: By December 2022, document current level of donor support for CFB priority grantmaking areas. By June 2026, show a documented increase in the number of donors and dollars contributed to CFB priority grantmaking areas.

Have a greater tangible impact on Broward’s pressing needs by growing CFB’s total assets by $110M to $386M by 2026 ASSUMPTIONS: • $12M in new gifts from living donors annually over five years, totaling $60M.

PILLAR THREE

PILLAR THREE: CFB ASSET GROWTH

• $10M in new gifts from matured estates annually over five years, totaling $50M.

OBJECTIVE 1: Grow charitable funds by $110M. Measurable Outcomes: • Grow Discretionary Funds (Unrestricted and Field of Interest) by $16M. • Grow Endowed Donor-Advised Funds by $35M. • Grow Contributions to Non-Endowed Donor-Advised Funds by $30M. • Grow Agency Funds by $3M. • Grow Designated Funds by $26M.

OBJECTIVE 2: Create and implement a comprehensive plan to attract, engage and partner with philanthropists from all of Broward’s diverse communities. representing diverse communities and areas outside of primary giving zip codes of 33301, 06, 08, 16.

OBJECTIVE 3: Continue to prioritize planned giving as a key part of growing CFB’s endowment.

Measurable Outcomes: By December 2026, the planned gift pipeline total is $420M and the number of referrals from professional advisors has increased to 25 annually.

OBJECTIVE 4: Carry out a disciplined, orchestrated program to reach the region’s professional advisors consistent with CFB’s asset growth goals.

Measurable Outcomes: By June 2023, segmentation of our region’s professional advisors is complete and work plan is in place. By June 2026, a documented increase occurs annually in the number of advisors representing diverse communities and CFB’s geographic reach.

OBJECTIVE 5: Align BE BOLD Leadership Campaign with new strategic plan targets.

Measurable Outcome: By December 2024, the BE BOLD Leadership Campaign ends, milestones are shared/communicated and achievements are celebrated.

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Measurable Outcomes: By December 2026, documented increase in percentage of donors

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PILLAR FOUR

PILLAR FOUR: COMMUNITY IMPACT Refocus CFB’s grantmaking and communicate our community impact in Broward OBJECTIVE 1: Focus CFB’s grantmaking in areas supported by Endowed Unrestricted Funds and Field of Interest Funds.

Measurable Outcomes: By December 2022, CFB’s new priority grantmaking areas are in place; by fall 2022, new grantmaking areas are communicated to the broader community.

OBJECTIVE 2: Reorganize the functions of the Community Impact and Donor Services teams Measurable Outcomes: By June 2022, Donor Services team reorganized and separated from Community Impact team’s functions.

OBJECTIVE 3: Leverage CFB’s grantmaking process to inform staff and Board about Broward’s most important and emerging needs, and recommend future potential community leadership initiatives.

Measurable outcomes: Beginning in June 2023, one Community Impact Committee meeting C O M M U N I T Y F O U N DAT I O N O F B R O W A R D | S T R AT E G I C P L A N 2 0 2 2 - 2 0 2 6

annually devoted to analyzing all requests to the Foundation (funded and not funded) , and

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reflecting on trends to identify emerging needs, topics and areas for future community leadership and new impact opportunities. Annually, a portion of one Board meeting is dedicated to sharing the outcomes of this committee meeting with the full Board.

OBJECTIVE 4: Develop CFB’s capacity to manage and share CFB’s unique repository of community information to galvanize broad support for CFB’s priority grantmaking areas.

Measurable Outcomes: By June 2026, a system is in place to capture and classify the various fields of interest for all grants to organize the data, and share with stakeholders individually or through published research initiatives from time to time as appropriate.

Grow and spread CFB’s brand and mission to lead, share, connect and serve Broward as a community and philanthropic champion OBJECTIVE 1: Communicate the unique attributes of CFB and the benefits of a

PILLAR FIVE

PILLAR FIVE: CFB BRAND

community foundation, including how donors can have more impact with their giving.

Measurable Outcomes: By December 2022, an integrated communications and marketing plan is in place to grow understanding of CFB’s mission, vision and values.

OBJECTIVE 2: Distinguish CFB’s unique role to build an endowment to meet Broward’s needs now and forever.

Measurable Outcomes: By June 2022, a promotional strategy is in place; By June 2026, endowment has increased at CFB.

OBJECTIVE 3: Support and celebrate the culmination of the BE BOLD Leadership Campaign and what it means for Broward’s future.

Measurable Outcomes: By June 2022, a plan is in place to support the remainder of the campaign;

By December 2024, a communications plan is in place to celebrate the conclusion of the Leadership Campaign and the transition from campaign goals to strategic plan metrics.

OBJECTIVE 4: Develop a set of communications vehicles and messages that convey CFB’s role as a grant maker and community leader.

Measurable Outcomes: By June 2025, messaging is in place to build awareness of CFB’s leadership role as grant maker and community leader.

OBJECTIVE 5: Communicate how CFB connects organizations to each other and to generous residents for greater community impact.

Measurable Outcomes: By June 2023, a strategy is in place to promote organizational collaborations and highlight signivicant connections CFB has helped create for our stakeholders.

OBJECTIVE 6: Communicate CFB’s unique role as a nonprofit champion.

Measurable Outcomes: By December 2023, a strategy is in place and implementation is underway to promote CFB initiatives focused on strengthening Broward’s nonprofit sector and the impact their programs create.

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campaign; a comprehensive communications strategy to celebrate the success of the BE BOLD

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PILLAR SIX

PILLAR SIX: OPERATIONS Be strong, stable, forward-focused and relevant in service to Broward OBJECTIVE 1: Grow and maintain exceptional organizational culture.

Measurable Outcomes: By June 2022, full complement of 19 FTEs in place; by December 2022, new HR plan is implemented, including a full review of personnel policies and related materials;

by June 2023, assessment tool is identified to assess the quality of organizational culture, and implemented annually.

OBJECTIVE 2: Incorporate and adopt community foundation best practices and benchmarks wherever possible to guide CFB’s execution on its strategic plan goals.

Measurable Outcomes: Investment performance meets or exceeds benchmarks; operating expenses are consistently in range of 2% of total assets annually; and by December 2026, CFB’s FTEs are aligned with peer community foundations.

OBJECTIVE 3: Exemplify equity and inclusion, and place them at the core of all of CFB’s work.

Measurable Outcomes: By June 2023, policies and procedures incorporating equity and inclusion

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in place.

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OBJECTIVE 4: Guide and support reorganization where needed to make CFB optimally effective.

Measurable Outcomes: By June 2024, opportunities for improved efficiency identified; by June 2026, a plan is implemented to address inefficiencies.

Education & Youth Enrichment We aim for youth to gain critical skills to shape their lives and future careers through opportunities

APPENDIX

GRANTMAKING FRAMEWORK

to access and attain academic achievement, explore and pursue career paths and develop interpersonal and life skills to become resilient and productive contributors to society.

Social & Economic Mobility We aim to empower hardworking residents to move to financial stability and have a strong economic foundation to break the cycle of poverty.

Healthy & Thriving Communities We aim to improve health equity and well-being by building a culture of health across all populations and communities while creating a flourishing, resilient and sustainable environment.

Art & Culture arts experiences to all residents.

Racial Equity, Diversity & Inclusion (REDI) We aim to dismantle systems of racial inequality and social injustice to create a more equitable and inclusive community for all residents through systemic, sustainable and scalable change.

Strong Nonprofit Community We aim to be the premier community resource for nonprofit professionals and volunteers to access information, tools and support to advance leadership, strengthen organizational capacity and make an impact on critical issues created.

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We aim to expand, elevate and sustain a vibrant arts community and increase exposure of unique

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APPENDIX

HISTORICAL AND PROJECTED ASSET GROWTH $518,131,636

$386,208,986

$269,155,099

$100,037,788

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$86,342,950

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$37,419,802 $8,704 1984

$2,559,437 1990

2000

2010 2011

2021

2026

2031

Asset Size Calculating the Projections for 2026 and 2031: • Baseline is 2021 • 8% average annual operating expenses growth based on 10 yr. review • Operating budget shoul be in the range of 2% of total assets Annual Assumptions: + $12M in new gifts + $10M in mature estate gifts + 7% investment return - 5% awarded as grants - 1% average in CFB Fees

2021

Staff Size: 19 FTE Assets: $269M Annual Grants: $13M Operating Budget: $3.8M Operating Budget: 1.3% of total assets

2026

Staff Size: 26 FTE Assets: $386M Annual Grants: $19M Operating Budget: $5.7M Operating Budget: 1.5% of total assets

2031

Staff Size: 35 FTE Assets: $518M Annual Grants: $25M Operating Budget: $7.5M Operating Budget: 1.5% of total assets

GOAL

June 2022

December 2022

June 2023

December 2023

June 2024

December 2024

June 2025

December 2025

June 2026

1. COMMUNITY LEADERSHIP Objective 1: Determine Capacity

December 2026

APPENDIX

STRATEGIC PLAN IMPLEMENTATION TIMELINE

Objective 2: Identify Leadership Areas Objective 3: Foster Collaboration Objective 4: Build Nonprofit Excellence Objective 5: Advance Equity

2. DONOR SERVICE Objective 1: Define Products/Services Objective 2: Define Levels of Service Objective 3: Reorganize Donor Services Objective 4: Provide Donor Education Objective 5: Redefine Grantmaking Areas

3. ASSET GROWTH

Objective 1: Grow Charitable Funds Objective 2: Diversify Fundholders

Objective 3: Prioritize Planned Giving Objective 4: Focus On Professional Advisors

4. COMMUNITY IMPACT Objective 1: Refocus Grantmaking Areas Objective 2: Reorganize CI and DS Objective 3: Engage Staff and Board Objective 4: Develop a Repository

5. CFB BRAND Objective 1: Communicate Benefits of CFB Objective 2: Communicate About Endowment Objective 3: Support/Celebrate BE BOLD Objective 4: Communicate Community Ldshp Objective 5: Communicate Collaboration/Connections Objective 6: Communicate Nonprofit Support Role

6. OPERATIONS Objective 1: Grow Outstanding Culture Objective 2: Adopt Best Practices Objective 3: Exemplify Equity and Inclusion Objective 4: Guide Reorganization

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Objective 5: Refocus Asset Development Goals

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CLOSING THOUGHT

“Sometimes it’s better not to go fast.

There are beautiful sites to be seen when you’re last.

Shouldn’t it be that you just try your best?

And that’s more important than beating the rest?

Shouldn’t it be looking back at the end That you judge your own race by the help that you lend?

So, take what’s inside you and make big, bold choices.

And for those who can’t speak for themselves, USE BOLD VOICES.” Jamie Lee Curtis Is There Really a Human Race?

910 East Las Olas Boulevard | Suite 200 | Fort Lauderdale, Florida 33301 954-761-9503 | cfbroward.org Reprinted May 2023