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IDECF

Interior Design Educators Council Foundation, Inc.

2016 Annual Report and 2017 Outlook

Supporting change agents who revolutionize the world through design education

Growing up


IDECF ANNUAL REPORT 2016

Board of Directors & 2016 Grants and Awards

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2017 Outlook & IIDA Diversity Challenge

2016 Financial Statement

2016 Contributors

Growing wisely and sustainably Message from the President The IDEC Foundation focused on growing wisely and sustainably during 2016. The Board added four new members to expand our capacity to accomplish goals. Two new Industry Directors were appointed. Kiel Menick of Sherwin Williams was appointed to fill Lona Ruot’s remaining term. Chris Bruning of Groovystuff was appointed to a three-year term. Bryan Orthel (Kansas State University) joined the Board as a Directorat-Large for a six-year term. In May, Cynthia Mohr (University of North Texas) joined the Board as the IDEC Liaison for a one-year appointment. Katherine Ankerson’s appointment as IDEC Liaison ended in May. We are grateful for the service Lona and Katherine provided. We look forward to two additional directors joining the Board in 2017. In 2015, the Foundation split the role of the vice president into two offices: an Executive Vice President and a Vice President for Fundraising. These positions strengthen the Foundation’s work to grow fund development. Holly Cline (Radford University) filled

the Executive Vice President position, which has the primary roles of assisting the President, fulfilling the President’s duties on a temporary basis, and overseeing the award of funds. Barbara Anderson (Kansas State University) now serves as the Vice President for Fundraising and oversees all matters pertaining to fundraising, including coordination of corporate fundraising activities. Looking forward to 2017, the Foundation will hold its annual meeting in conjunction with the IDEC annual conference in Chicago (March 8-12). As we continue to grow, the IDEC Foundation remains committed to supporting the change agents who are transforming interior design education for the future. We recognize the responsibilities we have to use our resources wisely and sustainably to continue supporting interior design education for many years to come. Brian Powell President, 2016


IDECF ANNUAL REPORT 2016

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2016 Board of Directors

2016 Grants and Awards

Holly L. Cline (2020) Radford University Executive Vice President

Anna Osborn Florida State University

Catherine Trugman Georgia State University

Brian Powell (2019) University of Louisiana at Lafayette President

Barbara G. Anderson (2020) Kansas State University Vice President for Fundraising Helen Evans Warren (2021) Mount Royal University Treasurer Shauna Corry (2021) University of Idaho Secretary Chris Bruning (2019) GroovyStuff Industry Director Carol Caughey (2017) Oregon State University, Emerita Bryan D. Orthel (2022) Kansas State University Kiel Menick (2018) Sherwin Williams Industry Director Cynthia Mohr (2017) University of North Texas Ex-Officio, IDEC Board of Directors Directors serve staggered six-year terms; Industry Directors serve three-year terms. Officers are elected annually at the March meeting.

Graduate Scholars Travel Awards Jack Kennedy University of North Carolina, Greensboro

Leibrock Universal Design Scholarships Marsha Cuddeback Louisiana State University

Moira Denson Marymont University

Vibhavari Jani Kansas State University

Stephanie McGoldrick Mount Ida College

Jane Nichols High Point University

Grazyna Pilatowicz Fashion Institute of Technology

Polsky Fixtures Innovative Teaching/Special Project Ziad Qureshi University of Houston Carol Price Shanis Scholarship No award


IDECF ANNUAL REPORT 2016

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Growing awareness 2017 Outlook During 2016 the IDECF Board of Directors promoted awareness of the Foundation and its mission. Growing the IDECF Profile. Outside of IDEC members, the Foundation is mostly an Holly L. Cline unknown organization, which poses problems when fund development is a goal. In 2016, the Directors reached out into the broader design community to raise our profile. The Foundation hosted its first Leadership Reception in conjunction with the IDEC Barbara G. Anderson Portland conference. We thank GBD Architects for opening their doors so that we could informally meet local designers and introduce the Foundation to the Portland design community. We will continue to host Leadership Receptions at our annual meeting each year. A Director represented the Foundation at NeoCon 2016, the Las Vegas Market, and the High Point Market

to network with exhibitors and attendees and provide information about the Foundation. Awards and Recognitions. The IDEC Foundation collaborated with the IIDA Foundation to develop the IIDA Foundation Diversity Award. The winner of the inaugural award will be announced at the IDEC annual conference in March, 2017. Other awards in 2016 included the second class of the Leibrock Universal Design Scholars, three Foundation Graduate Scholar travel awards, and the Polsky Fixtures special project award. Growing forward. In the coming year the Foundation anticipates continuing our effort to increase awareness among professionals and industries related to interior design and to establishing new partnerships to provide funds for awards that will advance the mission of the IDECF in support of interior design education, research, leadership, and public awareness. Holly L. Cline Executive Vice President, 2016 Barbara G. Anderson Vice President for Fundraising, 2016


IDECF ANNUAL REPORT 2016

2016 Financial Statement

The IDEC Foundation Board is committed to fiscal responsibility and increasing the funds available to advance interior design education, research, leadership, and public engagement. With careful stewardship in 2016, the Foundation has sustained its mission by awarding funds to support interior design education while also maintaining the core assets that will provide future growth. Our request for donations at the 2016 IDEC annual conference resulted in generous donations to funds managed by the IDECF. Responsible Fund Growth and Distribution. In order to more responsibly manage the funds the Foundation holds, the Directors voted this past year to adjust our managed funds. At the beginning of the year, two companies managed separate accounts that held multiple funds. The Directors voted to consolidate all funds to a single management company that has historically produced the highest yield. The move will result in a guaranteed lower management fee and should lead to overall, higher yields. The Directors also recognized the need to limit awards in each category to the levels equal to the monies donated or grown in each investment each year. Despite this restriction—and because of the generosity of IDEC members at our annual fund appeal—the Foundation will be able to provide three Foundation Graduate Scholar travel awards for the 2017 IDEC annual conference. IDECF Awards and Investments. In 2016, donations to the IDECF unrestricted fund and the Graduate

4 Scholars Fund allowed the Foundation to fund three Graduate Scholars to attend the 2016 IDEC annual conference. Cynthia Leibrock’s generous donation in 2015 continues to support the Leibrock Universal Design Scholarships to participate in a workshop at the Green Mountain Ranch in Livermore, Colorado. The Foundation’s investments increased gradually throughout 2016 until the market instability prior to the U.S. presidential election. The funds ended the year with values close to their balances prior to the election. Insurance. The Board reviewed Foundation Policies and Procedures and discussed the potential liability of the Board of Directors and Officers. To provide protection against this liability, the Board of Directors voted to acquire directors-and-officers insurance beginning in June 2016. Legal Review and Advice. An ad-hoc committee of the Board studied the Foundation Bylaws and Policies and Procedures. The committee recommended that the Board secure legal services to review legal and procedural documents and provide counsel on changes that would be appropriate in 2017. Outstanding Loan. In 2015, the IDEC organization loaned the Foundation $10,000 for procurement of professional services, mainly for accounting and legal advice, and support for the IDEC Foundation during a time of reorganization. The Board of Directors will be developing strategies to repay this loan. Helen Evans Warren Treasurer, 2016


IDECF ANNUAL REPORT 2016

2016 Financial Accountability Fund Assets as Percentage of Total Assets

5 Anna Brightman / JID Fund 19.9% Carol Price Shanis Scholarship 7.8% Fellows Fund 4.5%

Total Assets $317,460.86

Graduate Scholars Fund 6.2% Leibrock Scholars Fund 6.8% Teaching Polsky Fixtures Fund (Innovative Special Projects) 19.6%

Polsky Family Fund 21.6%

/

(IDEC Organizational Support)

Wilhelmina Boldt Speakers Fund 7.3%

IDECF Financial Information at a Glance

REVENUE Total Contributions Interest & Dividends on Unrestricted Account TOTAL REVENUE

Unrestricted Funds 6.4%

$ $ $

12,934.30 31.91 12,966.21

EXPENDITURES Professional Services for Accounting and Tax Preparation $ 225.00 Grant and Scholarship Awards $ 7,000.00* Reimbursements for Leibrock Scholars Dinner $ 554.07 Directors and Officers Insurance $ 550.00 Checking Account Annual Service Charge $ 175.00 TOTAL EXPENDITURES $ 8,504.07 *Three 2016 award disbursements ($5,000.00) were unclaimed as of 12/31/2016.

CHANGE IN TOTAL LIABILITIES AND NET ASSETS

(12/31/2015 - 12/31/2016)

$

12, 922.39


IDECF ANNUAL REPORT 2016

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2016 Financial Accountability (continued) UNAUDITED STATEMENT OF FINANCIAL POSITION For the year ending December 31, 2016

ASSETS Cash Accounts Receivable Investments

$ 20,297.82 $ 0.00 $ 297,163.01

TOTAL ASSETS

$ 317,460.83

LIABILITIES Accounts Payable

$ 15,000.00

TOTAL LIABILITIES

$ 15,000.00

NET ASSETS Unrestricted funds Temporarily Restricted Fellows Fund Graduate Scholars Fund Leibrock Scholars Fund Permanently Restricted Anna Brightman / Journal of Interior Design Fund Carol Price Shanis Scholarship Award Polsky Fixtures Fund (Innovative Teaching / Special Projects) Polsky Family Midwest (IDEC Organization Support) Wilhelmina Boldt Speakers Fund

TOTAL NET ASSETS

$ 302,460.83

TOTAL LIABILITIES AND NET ASSETS

$ 317,460.83

$ 20,297.82 $ 14,252.02 $ 19,829.32 $ 21,445.93 $ $ $ $ $

63,097.09 24,750.85 62,260.00 68,498.90 23,028.90


IDEA IDECF ANNUAL REPORT 2016

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2016 Financial Accountability (continued) CONTRIBUTIONS AND DISBURSEMENTS BY FUND

FUND NAME CONTRIBUTIONS Anna Brightman / JID Fund $ 175.00 Carol Price Shanis Scholarship Fund $ 50.00 Fellows Fund $ 1,650.00 Graduate Scholars Fund $ 1,307.50 Leibrock Scholarship Fund $ 0.00 Polsky Fixtures Fund (Innovative Teaching / $ 35.00 Special Projects) Polsky Family Midwest (IDEC Organization Support) $ 10.00 Wilhelmina Boldt Speakers Fund $ 0.00 Unrestricted $ 10,316.32

AWARDS* $ 0.00 $ 0.00 $ 0.00 $ 3,000.00 $ 6,000.00 $ 3,000.00 $ $ $

00.00 00.00 00.00

*Three 2016 award disbursements ($5,000.00) were unclaimed as of 12/31/2016.

2016 Contributors Barbara Anderson Katherine Ankerson Anonymous Anjali Bhalodia Kay Boehr Charles Boggs Michelle Brown Greta Buehrle Amy Campos Carol Caughey Holly Cline Shauna Corry Marsha Cuddeback Jeanne Diehl-Shaffer Jean Edwards Paul Eshelman Pamela Evans Helen Evans Warren

GBD Architects Denise A. Guerin Amy Huber Lynn M. Jones Migette Kaup Laura Kimball William & Marjorie Kriebel Mannington Commercial Amtico Caren Martin John Martin-Rutherford Jacqui McFarland Cynthia Mohr Bryan D. Orthel Mitzi Perritt Margaret B. Portillo Brian Powell Professional Experience Program Susan Ray-Degges

Joan Riggs Douglas Seidler Katherine Setzer Sherwin-Williams Foundation Sally Ann Swearingen The Urban Realm, Inc. Robin Wagner Lisa Waxman Jennifer Webb Jaingmei Wu The Foundation thanks the many individuals who purchased raffle tickets during the 2016 IDEC annual conference.


IDECF

Interior Design Educators Council Foundation, Inc. Support the individuals and programs shaping the Support the IDEC Foundation. next generation of revolutionary interior designers. Visit www.idec.org/foundation


IDECF 2016 Annual Report