TCFHR 2020 Annual Report

Annual Report 2020

Managing Charitable Funds for our Communtiy Printing Compliments of www.tcfhr.org PXI, formerly the 540-432-3863 Printing Express 317 South Main Street, Harrisonburg, VA 22801 Mailing Address: P.O. Box 1068, Harrisonburg, VA 22803

2020 Board of Directors Dale Hulvey CHAIR CIO - AVP for Information Technology James Madison University Donna Harper VICE CHAIR Vice President for Access and Enrollment Management James Madison University Trish Davidson SECRETARY Director of Finance Rockingham County, VA Ellen Brodersen TREASURER C.P.A. Clark & Bradshaw, P.C. Joseph Paxton PAST CHAIR Retired Rockingham County Administrator ____________________________________ Lindsay Brubaker Attorney BotkinRose PLC Eric Campbell City Manager Harrisonburg, VA Jason Fink Professor of Finance James Madison University & Director of Research Graves-Light Private Wealth Management Kevin Flint Financial Analyst Hess Financial Kay Harrison Instructor, Health Services Administration James Madison University Kristian Horneber Senior Accounting Manager-Financial Reporting James Madison University Foundation Gannon Irons Financial Advisor Edward Jones Charles Martorana Senior Vice President, Harrisonburg Market Executive Union Bank & Trust and its predecessors

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Addressing Community Needs This past year was difficult for everyone to endure but what gives me hope, is our community’s support of one another during a difficult time.

Through a year defined by change, The Community Foundation of Harrisonburg and Rockingham County remains rooted in our mission to encourage giving through charitable funds, grant and scholarship programs, and bold initiatives that address this community’s needs.

Within days of the World Health Organization’s official declaration of COVID-19 as a global pandemic, The Community Foundation of Harrisonburg and Rockingham County and The United Way of Harrisonburg and Rockingham County launched the COVID-19 HR Community Response Fund to address the urgent and emerging needs of our region’s most vulnerable residents. In 2020, $477,871.34 was granted to nonprofit organizations providing access to food and safe shelter, access to mental healthcare, access to childcare for essential workers, and agencies with needs created by the COVID-19 crisis.

While the needs and the incredible potential of our county’s residents have never been greater, every day we see the impact of our donors’ generosity.

TCFHR further addressed the needs of our community by partnering with City of Harrisonburg and Rockingham County to establish the Harrisonburg CARES Fund and Rockingham County Cares Fund.

Together, these funds granted $472,700 to local nonprofit organizations. On June 24, 2020, the community raised $804,216 for 102 participating nonprofit organizations during Great Community Give.

Our community accomplished what none of us could achieve on our own. By uniting the passion and commitment of donors, advisors, community leaders, nonprofits, and community members, we are creating solutions that will continue to affect lives for years to come.

This year’s annual report highlights how we work towards recovery through short and long-term solutions to Harrisonburg and Rockingham County’s most pressing issues. We share resources so that we may support our local communities as conditions, circumstances, and needs change throughout this crisis. As we work, we grow, we learn, we adapt. I invite you to learn more about our work, our partners, and our stewardship of charitable funds. Join with us in making an impact and continue to build Harrisonburg and Rockingham County together.

Cynthia Prieto Retired Principal at Harrisonburg High School Matthew Sunderlin Managing Partner Clark & Bradshaw, P.C. Laura Toni-Holsinger Executive Director United Way of Harrisonburg and Rockingham County Paul Whatley Realtor Kline May Realty

Dale Hulvey Board Chair

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Mission

The Community Foundation of Harrisonburg and Rockingham County encourages giving through charitable funds, grant and scholarship programs, and bold initiatives that address the community’s needs.

Vision

Harrisonburg and Rockingham County is a place where its people and land prosper generation after generation.

Thank You

to our fund holders and the charitable individuals and businesses that support the work we do. We truly appreciate your continued support of our mission!

Professional Partners in Philanthropy Providing financial and professional support to The Community Foundation Flora Pettit PC Graves Light Private Wealth Management

Asa Graves, Wes Graves, Doug Light, Jeff Lenhart

Lantz & Gochenour Investment Group of Janney Montgomery Scott

Michael C. Gochenour, Mary Bryant Via

Larson Wealth Management David Larson, Tyler Conley, Matthew Gray, Jennifer Carrier

PXI, formerly the Printing Express Mike Meredith

Stern & Heatwole Financial Group

Norman Stern, Christine E. Worontzoff, O. Franklin Showalter III, Mark Brenneman

Strategent Financial, LLC

Dale S. Lam, Abe J. Shearer, Melissa M. Mayhew

Keystones We express our gratitude to the Keystone members who gave generously to operations to help establish The Community Foundation while it was in its infancy. These individuals and businesses believed in The Community Foundation before it had a proven track record. Please visit www.tcfhr.org to know these charitable individual and corporate contributors.

The Myrias Group

Andy Huggins

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Connect

Grants that benefit nonprofit organizations Charlotte Showker loved this community. She enjoyed volunteer work, antiques, art, writing, performing in hometown theatre productions, raising her three children, serving the church and all around helping people. Charlotte was passionate about the area and thought long term about how she could give back. Charlotte Harris Showker lived her entire life in Harrisonburg, so it made sense to want to do something special for this community. Family values, personal experiences, and a passion to make a difference influenced her decision to give. She made arrangements for a gift to The Community Foundation through her estate plans to establish the Charlotte Harris Showker Endowed Fund.

The original gift through Charlotte's estate to establish the Charlotte Harris Showker Endowed Fund in 2013 totaled $215,000. Overtime, Charlotte's gift grew at The Community Foundation. Twenty-four grants adding up to $49,737 have been made to her four favorite nonprofit organizations. Charlotte's favorite nonprofits were Blue Ridge Area Food Bank, Boys and Girls Clubs of H-R, First Step: A Response to Domestic Violence, and H-R Free Clinic. The balance of her endowment to date equals to $242,949.

Charlotte's gift and all future earnings are a permanent source of community capital, helping do good work today, tomorrow and for years to come. Over several decades, an endowed fund’s principal can more than double… while supplying grants every year.

Endowment funds create a lasting gift

The Joy of Giving If your life is getting ho-hum And you need a boost or two, Look around for someone Who is worse off than you!

There are many, many out there.

They are not hard to find.

You can give some help & hope.

And change your frame of mind.

You will find that in helping others; You’ve changed your way of living.

Yes, you are more useful now And have found the joy of giving.

Charlotte Showker (2006)

An endowment is an investment that provides endless support to charitable causes. It is an investment in the future…it’s a gift…a promise without end, made by the donor to future generations in support of the community. Endowments are permanent. Endowment gifts are invested and distributions from the fund are based on an Endowed Funds Annual Distribution, currently 4% of a 20 quarter average.

This is just one of many families who through their generosity are planting the seeds for a brighter future.

TCFHR represents community members at their very best – filled with affection for our city/county and heart for our neighbors. We are most grateful to Charlotte for giving back to Harrisonburg and Rockingham County.

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Community CARES Act Funding - A partnership formed during hardship It is important to remind ourselves of the impact of community and partnership during difficult times. When faced with adversity, we achieve more together. In June 2020, funding was made available to the City of Harrisonburg and Rockingham County under section 601(a) of the Social Security Act, as added by section 5001 of the Coronavirus Aid, Relief, and Economic Security (CARES Act). The CARES Act established the Coronavirus Relief Fund (CRF) and appropriated $150 billion to distribute to States and certain local governments; the District of Columbia; U.S. Territories; and Tribal governments.

To secure assistance in distributing local CARES Act funding, the City and County each established funds at TCFHR, the Harrisonburg CARES Fund and the Rockingham County Cares Fund. In October, the Harrisonburg CARES Fund provided utility support for city households and grants to nonprofit human service providers in the amount of $238,700. In November, the

Rockingham County Cares Fund provided $234,000 in grant support to nonprofits serving individuals and households in Rockingham County, with a focus on children and youth. The funds addressed necessary expenditures due to the ongoing COVID-19 public health emergency. The grants were awarded to eligible nonprofit organizations after a competitive application process.

TCFHR promotes community needs and expedites donations to address crises, on-going challenges, and specific projects. The opportunity to participate in discussions with the City of Harrisonburg and Rockingham County, and assist in responding to the COVID-19 pandemic with community solutions, was a wonderfully collaborative way to fulfill our mission. These partnerships were a new venture for TCFHR and we valued, and will continue to value, the opportunity to work with both local government entities.

For more information about these partnerships, visit www.tcfhr.org

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Needs

COVID-19 HR Community Response Fund The United Way of Harrisonburg and Rockingham County (UWHR) and The Community Foundation of Harrisonburg & Rockingham County (TCFHR) announced jointly the establishment of the COVID-19 HR Community Response Fund in March 2020.

Together, a group of knowledgeable community leaders determined the most pressing needs: Mental Health, Access to Food & Shelter, Child Care for Essential Workers, Rent and Utility Assistance, and other Human Services. Grants from the fund help support human services organizations that have deep roots in Harrisonburg and Rockingham County and strong experience working with those vulnerable in our community.

We called on the community to help their neighbors during a difficult time and they responded. The love outpouring from our community is a testament to how resilient and caring Harrisonburg and Rockingham County can be. Yet, we find that the ripple effects of COVID-19 continue to affect our community. We realize some H-R nonprofit organizations are struggling to provide normal services and are facing significant reductions in funding due to COVID-19.

Other nonprofits may be having difficulty providing services as they adjust to safe and different operating practices, due to COVID-19 phasing guidelines.

Sandra Quigg, Executive Director of Boys and Girls Club of Harrisonburg & Rockingham County (BGCHR), said, “COVID-19 changed our model from before and after school programming to all day, 7am to 6pm, Monday through Friday, school and Club integration. We expanded service hours from 25 hours per week to 55 hours per week to support our families and their children. Partnering with Harrisonburg City

Schools and Rockingham County Schools as academic support centers, staff ensure our young people (grades kindergarten through high school) participate fully in online classes. The Club plans on remaining open full days for the remainder of this academic year for both city and county public school youth. BGCHR does not know what 2021 holds but the Club will do whatever it takes to keep our youth moving in the right direction for the coming summer and next school year…TCFHR’s ability to step in to attract and guide support to nonprofits like ours during COVID shutdowns was a true lifesaver. The Club had little bandwidth to take on major fundraising on top of creating and implementing crisis services for our families. Whether in prosperous or challenging times, the Boys & Girls Club is grateful to have The Community Foundation in its life.” - Sandra Quigg.

TCFHR and UWHR work strategically with local nonprofit organizations to meet both immediate and long-term needs related to the impact of the virus in the Harrisonburg and Rockingham County area. As of January 11th 2021, $601,522.89 has been raised for this effort. We continue to accept donations to this fund and your gifts are making a very real difference in the lives of individuals and families in our community. Grants are distributed to our local nonprofit organizations as we continue to receive gifts for the fund.

Checks may be made payable to The Community Foundation for “COVID-19 HR Response Fund,” and may be mailed to: PO Box 1068, Harrisonburg, VA 22803. Please use the “Donate Now” button at www.tcfhr.org for online gifts. Normal credit card fees apply to online gifts.

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Causes The future of students and nonprofit organizations $ 5,063,889

$639,456

16

Total grants to nonprofits Scholarships awarded to 61 high school and college students

$230,450

Established new funds VDOE Education Improvement Scholarship Tax Credit Program 170 K-12 students funded in academic year

Great Community Give On June 24, 2020, our community raised $804,216 for 102 participating nonprofit organizations of Great Community Give. Over the past three years, Harrisonburg and Rockingham raised a total of $1,617,336 for nonprofit organizations serving our area. The fourth edition of Great Community Give was held on April 21, 2021. Visit www.greatcommunitygive.org to learn how Harrisonburg and Rockingham County came together in support of 116 nonprofit organizations.

Point. Click. GIVE.

61 Promoted projects through Giving Back publication

Harold & Faye Teer Scholarship "Being the first one in my family to attend college is a huge privilege that could not be made possible without the help of the Harold & Faye Teer Scholarship. Knowing that I have the support from The Community Foundation of Harrisonburg & Rockingham has encouraged me to persevere in the pursuit of a doctorate in physical therapy. College through the eyes of a first generation college student can be really hard because the road can be really blurry. For example, it was really hard to know whether I was choosing the right classes for my majors and minors. This scholarship has encouraged me to study hard and to aim for excellence during the pandemic."

- Guillermo Lopez Mejia, student To learn more on how you can establish a scholarship with TCFHR, visit www.tcfhr.org

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Our Financials

June 30, 2020 Audited Financial Statement Summary Financial Position

2019-20

2018-19

2017-18

$54,691,642

$52,760,079

$47,341,498

$8,434,697 $260,671 $37,179

$8,800,174 $279,506 $26,034

$8,801,865 $277,857 $10,994

Total Liabilities

$ 8,732,547

$ 9,105,714

$ 9,090,716

Net Assets

$45,959,095

$43,654,365

$38,250,782

2019-20

2018-19

2017-18

$7,148,398

$11,730,676

$16,551,517

$5,063,889 ($797,885) $297,391 $204,716 $72,275

$6,899,370 ($1,084,871) $227,713 $212,417 $72,277

$4,549,051 ($852,988) $205,647 $272,162 $54,624

$4,840,386

$6,326,906

$4,228,496

($3,282)

($187)

$921

$2,304,730

$5,403,583

$12,323,942

Total Assets Agency Fund Obligations Remainder Trust Liabilities Other Liabilities

Statement of Activities Total Revenue Expenses Grants Less Agency Fund Distributions Other Program Services General & Administrative Fundraising

Total Expenses Non-controlling interest - Eastham, LLC

Change in Net Assets

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Grants by Program Area July 1, 2019 - June 30, 2020

Supporting Animal Care Projects

Hildred Neff was a native and lifelong resident of Rockingham County. Through The Community Foundation she made provisions for her estate to benefit local nonprofit organizations that provide care for domestic animals and wildlife. Applications for funding are accepted each year for a competitive grant process. Awards are made each August.

2020 Hildred Neff Memorial Fund Grants $4,000 - Anicira Veterinary Center Alleviating Animal Suffering through Veterinary Care $4,000 – Cat’s Cradle of the Shenandoah Valley Pet Retention for Low Income/Vulnerable Population $2,090 – Rockingham-Harrisonburg SPCA Increase Adoption Readiness $4,000 – Valley Rescue Allies Pet Retention & Rehoming $4,000 – Wildlife Center of Virginia Treatment of Sick, Injured, and Orphaned Wildlife from HR $2,500 - Still Meadows Animal Care

Each November the Community Endowment Fund provides an annual grant to a nonprofit project of greatest benefit to the local community. In 2020, there were two grant recipients. First Step received a $2,000 grant for "Help and Hope for Victims of Domestic Violence". Mercy House received a $5,282 grant for "SAFE - At Home".

The Valley Arts & Culture Fund provides program, project and seed funds to small and medium sized nonprofit organizations promoting performing arts, visual arts, and interpreting the culture and traditions of and in the Shenandoah Valley. The 2020 recipient of the fund’s grant is Virginia Quilt Museum, in the amount of $860, for its "Technology Update for the World of COVID" project.

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Give Back

Partner with The Community Foundation Work with us when: Facing a large taxable situation (ex. sale of a company) Looking for tax credits (Education Tax Credits) Working on your charitable giving through your estate You want to simplify your giving You want to establish a scholarship or endowment You want to honor or remember a loved one You simply want to give back to the community you love

Starting a fund at TCFHR is easy. You can open a fund with as little as a $5,000 charitable donation, but typically funds are between $10,000 and $1 million.

Scholarship Fund minimums are $25,000.

Four Steps to Establish a Fund

1. Decide on the type of fund that works best for you.

2. Name your fund. (Individual or family name, name of a business, in memory of a loved one, etc.)

3. Complete a fund agreement.

A fund agreement is a document TCFHR will draft and review with you. You are also welcome to have your professional advisor review the agreement.

4. Transfer the assets to be used to establish the fund.

Types of Funds The Community Endowment is a pool of unrestricted funds for the benefit of the Harrisonburg & Rockingham County community.

Corporate or Donor Advised Fund allows the corporation/donor to support charities by recommending grants from their fund.

Designated Fund is a tool to annually benefit a single or multiple charities as established by the donor when the fund is set up.

Area of Interest Fund enables the donor to choose a specific area of interest for which the donor provides regular funding without limiting contributions to only one organization in that field.

Scholarship Fund enables the donor to establish an endowment to fund annual scholarships based on parameters the donor defines for the scholarship.

Fundraising Fund is set up to benefit a nonprofit organization or charitable cause.

Signature Foundation are over $1 million funds and usually endowed.

They can be either donor advised, designated, or scholarship funds.

Agency Fund enables a nonprofit organization to establish a fund for its benefit within TCFHR.

Giving Options Cash Stocks, Bonds, Mutual Funds Real Estate Life Estate Arrangements Life Insurance Private Foundation Assets Pension Plan Assets Charitable Trusts Bequests

Who are our Donors?

TCFHR donors are caring, forward-thinking people who entrust us to do good works in their names. Our generous donors hail from all walks of life and have visionary ideas for making positive impacts. Our donors include people who give charitable gifts during their lifetimes as well as those opting for future gifts that will come after they pass away. All donors share one primary goal, using philanthropy to help people in Harrisonburg and Rockingham County lead better lives.

Media Partner

Thank You GCG 2020 Sponsors!

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The Community Foundation of Harrisonburg and Rockingham County P.O. Box 1068 Harrisonburg, VA 22803 540-432-3863 www.tcfhr.org

Confirmed in Compliance with National Standards for U.S. Community Foundations

Why I Work with

The Community Foundation

"The Community Foundation has been instrumental in honoring my father, Leo Slusher, and supporting a student at Pendleton County High School to further their dreams after graduation from high school. The foundation manages the funds that support the Leo Slusher Award, which promotes the future of a young student in a community my father served and supported. He was instrumental in the formation of several organizations that support the youth of Pendleton County, such as the PCHS Sports Boosters, the Treasure Mountain Festival Association, and the PCHS Athletic Fields, and it is wonderful that we have help to manage the contributions that celebrate him, while supporting the youth he believed in."

- Cathy Slusher, daughter

STAFF Amanda C. Bomfim Program Officer amanda@tcfhr.org Tammy J. Duxbury Director of Accounting tammy@tcfhr.org Amy E. Lemmons Grants Manager & Acct. Asst. amy@tcfhr.org Ann B. Siciliano Director of Program Services ann@tcfhr.org Revlan S. Hill Executive Director revlan@tcfhr.org