2014 Vermont Community Foundation Annual Report

2014 ANNUAL REPORT

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Board of Directors DEB BRIGHTON

JULIE PETERSON, Brattleboro

(Treasurer), Salisbury Fiscal Analyst

Associate Director, Southeast Vermont Learning Collaborative

LISA CASHDAN, Norwich

BETSY RATHBUN-GUNN, Sandgate

Community Leader

Director, Early Childhood Services, United Counseling Service

STAIGE DAVIS, Burlington CEO, Four Seasons Sotheby’s International Real Estate

CAROLYN DWYER, Essex

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—Attribution here

(Secretary), Bridgewater Community Leader

Management Consultant

TIMOTHY R. VOLK

A. JAY KENLAN, ESQ., Wallingford

(Chair), Charlotte Partner, Kelliher Samets Volk

Attorney, Kenlan, Schwiebert, Facey & Goss, P.C.

PETER D. KINDER, East Dorset Co-founder and Former President KLD Research & Analytics, Inc.

SPENCER KNAPP, Burlington Senior Vice President & General Counsel UVM Medical Partners

MICHAEL METZ, Charlotte President, Michael Metz & Associates, Inc.

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MARGARET SEELY

JAMES G. WHEELER, JR. (Vice Chair), East Burke Attorney, Director Downs Rachlin Martin PLLC

FROM THE PRESIDENT AND CHAIR OF THE BOARD There are over 1,800 community foundations across the world. There over 700 of them in the United States.

As the only community foundation in Vermont, we are proud to be part of this growing movement.

Even more, we are proud and honored to be carrying the torch for community-based philanthropy.

The genius behind community foundations is the fundamental idea that there will always be resources to strengthen and support place. This community foundation will always be focused on the things that matter most to Vermont —education, human services, arts, the environment, basic human dignity, and more. In 1987, our first year of grantmaking, we awarded $72,000. In 2014, more than $15 million was awarded. That number will only grow.

We thank all of you for your role in this work—whether you read this as a donor partner, a volunteer, a nonprofit staff member, a future donor, a collaborator. You are the reason this organization exists and continues to thrive.

We hope you enjoy this report and urge you to let us know what you think about Vermont and our work.

Stuart Comstock-Gay President & CEO

Timothy R. Volk Board Chair 1

Our Year in Numbers

our grantmaking

Total Funds

687

9%

Contributions to the Foundation

$35.3 million

4 Education

29% 4 Environment

Total Assets

23%

$214.8 million Total Grants Awarded

$15.8 million

17%

Number of Grants Awarded

2,285

2

4 Arts, Culture and Humanities

19%

4 Health and Human Services

4 Community Benefit and Economic Development

4 Other 3%

Beyond the Numbers Let’s face it. Our attention spans have become shorter in today’s technology-driven society. A lot of information is now given to us in snippets and soundbites, in easy-to-digest facts and figures. While the Community Foundation understands the importance of these numbers—you see some of ours to the left—we also know they paint only part of the picture.

It’s important to remember that every piece of data has a story behind it—a story that connects us more closely to what’s happening in the community. Working with the Community Foundation means that you are part of every story.

All of us want to understand our impact and make a real difference.

And there is no question that our impact is bigger when we pool our collective resources and learn from one another. For example, Giving Together, the Community Foundation’s program that shares proposals we receive through our competitive grant rounds, had its highest participation rate in 2014.

The stories you’ll read in this annual report shine a spotlight on how each and every one of us helps shape the future of Vermont by working together to make a real difference.

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More Support for Southern Vermont LGBTQ Community The Samara Fund at the Vermont Community Foundation is committed to being the state’s leading source of permanent support dedicated to nurturing the vitality, success, and well-being of lesbian, gay, bisexual, transgender, and allied communities through dynamic and sustained philanthropy.

In 2014, the Fund made grants totaling $56,700 to 14 nonprofits and awarded $10,000 in scholarships to five high school seniors. This was made possible by the Fund’s endowment as well as contributions from Community Foundation fundholders and dozens of generous gifts made to the Samara Fund.

And this year, three Windham County organizations received grants, acknowledging the great work of LGBTQ organizers in Southern Vermont who are providing arts and cultural programming, culturally-competent health care and human services, and inclusive community gatherings in a traditionally underserved region.

Reducing Our Energy Use

e www.vermontcf.org/samara

The Community Foundation is committed to improving the environmental, social, and economic health of our communities, both locally and globally, through proactive solutions. A group of staff called the Green Team meets regularly to discuss steps to help achieve these goals.

This year, after installing new heating controls, we reduced propane usage by 18% and electricity usage by 28% compared to the previous year in our historic Middlebury office building (pictured above), which was built in 1823.

Next up for the Green Team? Evaluating the Foundation’s transportation and building maintenance practices for improvement opportunities.

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Happy 20th Anniversary!

In 2014, the J. Warren and Lois McClure Foundation—the very first supporting organization established at the Community Foundation—reached the $10 million milestone in grantmaking and will celebrate their 20th anniversary in 2015. Learn more on pages 6-7.

The Community Foundation is honored to work with the McClure Family, who has had a huge impact on the state through their generosity and caring. The words of the late Warren “Mac” McClure continue to inspire us every day.

“When we give when we are alive, while our hands are warm, several things happen. First, we can see good works being accomplished and can experience the thrill of helping others. This is among the greatest and most lasting gratification any of us may have. Second, all of us may be able to contribute ideas and can become cheerleaders for those who are responsible for important institutions and projects in our communities.”

Lois and Mac are pictured below.

Giving in the Kingdom Grows The Northeast Kingdom Fund was established in 2011 by the Community Foundation and local partners as a philanthropic resource to support the people and communities of Orleans, Essex, and Caledonia Counties. Grants totaling $80,415 were awarded to 30 organizations in 2014, representing an increase of more than 60% over the previous year.

This increase was thanks in large part to a significant contribution from the Stony Point Foundation, demonstrating the importance of philanthropic collaboration and partnership in advancing the work of our communities.

Both Community National Bank and the Passumpsic Savings Bank also continued their long-standing support.

The Fund is now an important, local resource for grassroots projects in the Kingdom and supports projects in a wide variety of fields that impact thousands of people across the region. e www.vermontcf.org/nekfund

HIGHLIGHTS 5

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The J. Warren & Lois McClure Foundation

Envisioning a Skilled and Educated Vermont

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he McClure Foundation envisions a Vermont where no promising job goes unfilled for lack of a qualified applicant. Currently, only 45% of Vermont adults have an associate’s degree or higher.

Research indicates that by 2020, 66% of all jobs in Vermont and 86% of the most-promising jobs will require postsecondary education. With that gap in mind, the McClure Foundation focuses its philanthropic lens on promoting access to college and career education that will prepare Vermonters for secure and successful employment. Since 2008, the McClure Foundation has awarded over $2,500,000 to promising programs that do just that. In 2014,15 grants totaling $366,894 were awarded.

www.mcclurevt.org Most-promising Jobs Campaign Using the latest-available federal information, the McClure Foundation partnered with the Vermont Department of Labor to identify the top 67 high-pay, high-demand jobs projected for Vermont over the next 10 years—and the educational requirements needed to obtain them. Each job is projected to have at least 150 job openings over the next 10 years and pay above the average hourly wage for Vermont workers ($21.18). Students, schools, colleges, policymakers, employers, and organizations are using the data to plan college and career pathways and to inform programming and strategy.

See the list, including average wages and the college degrees that will put students on the right path, at mcclurevt.org/pathways.

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Big Impact: Food and Farm Initiative

Connecting Vermonters with Healthy, Local Food

T

he Foundation launched the Food and Farm Initiative in 2012, seeing an opportunity—and a need—to connect the state’s burgeoning local food movement with the fight against hunger.

With the support of over 70 donors in its first two and a half years, the Initiative has awarded more than $1.5 million in grants to create lasting links between organizations working on food security and local food.

We’re seeing real progress on all fronts, from more kids getting healthy local food at school to more local produce available in wholesale markets so that more Vermonters can see Vermont’s food as their own.

www.vermontcf.org/ localfood The Center for an Agricultural Economy The Center in Hardwick capitalized on its processing facility (pictured at right) to launch a business that’s bringing tens of thousands of pounds of fresh-cut, Vermont-grown vegetables to schools and other institutions serving Vermonters at all income levels.

Vermont FEED In 2014, Vermont FEED—a partnership of NOFA Vermont and Shelburne Farms—helped transform the Vermont Farm to School Network from a loose peer network to an action-oriented collaborative. More than 60 farm-to-school leaders from across the state are now engaged on five work teams dedicated to tackling the key levers of change identified by the members through a participatory mapping process.

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9

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The Permanent Fund for Vermont’s Children

Rewriting the Story for our Children

I

t’s an exciting time for Vermont’s children. 2014 saw the passage of preK legislation that will give all Vermont three- and four-yearolds access to high-quality programs by 2016. The Permanent Fund launched a multi-year statewide public education campaign—Let’s Grow Kids—to raise awareness about “brain science” and ensure that everyone understands the importance of the early years of development.

And the Permanent Fund continued to strengthen the network of Vermont’s early care and education programs through the Vermont Birth to Five initiative and the Vermont Community Preschool Collaborative.

With a national movement calling for smart early investments, a business community and governor that support these investments, and private foundations working together to demonstrate the efficacy of these investments, we are writing a new story for Vermont’s children.

www.permanentfund.org Let’s Grow Kids By the end of 2014, nearly 3,000 Vermonters had signed the Let’s Grow Kids Pledge—a statement of support for giving every child a strong start.

Vermont Birth to Five Since Birth to Five’s inception in 2011, it has helped increase participation in STARS—Vermont’s quality recognition system for child care—by 375%. At the end of 2014, 71% of registered home providers were enrolled in STARS.

Vermont Community Preschool Collaborative The Collaborative has a decade-long history of helping to create public pre-Kindergarten programs in more than 100 Vermont communities and will now help implement programs throughout the state that were made possible by the preK legislation.

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The Vermont Women’s Fund

Two Decades of Support 2014 marked the 20th anniversary of the Vermont Women’s Fund, which was the first charitable fund dedicated solely to women and girls across the state. The Fund’s dual mission is to encourage all women to be philanthropists and use their collective financial power to help shape Vermont’s future.

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oday, the Women’s Fund targets at-risk young women and girls, ages 15-25, giving grants to nonprofit organizations that serve young women at this critical time in their lives. Many of the programs—like shadowing medical professionals, developing construction skills, and trail building in Vermont parks—are hands-on and experiential, allowing young women and girls to learn skills in creative and engaging ways. Pictured at right is Maranda, a student in YouthBuild, a program offered by ReSOURCE in Burlington and Barre that provides comprehensive job training for youth who have dropped out of high school.

www.vermontwomensfund.org Looking Forward The Women’s Fund is excited to be working on a new initiative with the Vermont Commission on Women and Vermont Works for Women. The endeavor is called Change the Story and will bring a fresh perspective to the statewide conversation regarding economic insecurity by making it possible for more women to enter well-paying fields where they are underrepresented.

This collaboration will harness the resources and wherewithal to create a cultural change in how economic opportunities for women are viewed.

And research shows that when women thrive, communities flourish.

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The High Meadows Fund

Preparing for Climate Change

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he High Meadows Fund feels an urgency to address climate change and prepare for its consequences, especially for Vermont’s most vulnerable communities. One key initiative we are supporting through both grants and a loan is a project to develop better options for manufactured housing. We have worked closely with our grant partners and value what we have learned from the project’s successes and challenges.

Our Grantmaking and Investments at Work In 2012, the Manufactured Home Innovation Project began with research and collaboration among the Vermont Energy Investment Corporation, the Vermont Housing and Conservation Board, and other organizations. By the end of 2014, seventeen owners had high-performance, energy-efficient homes sited on private lots and in mobile home parks.

Vermod, Inc. built the homes in a factory in Wilder, Vermont. The next phase involves working with partners to bring more of these homes within reach of low- and moderateincome Vermonters. Our goal is to make them a viable option for replacing inefficient mobile homes.

www.highmeadowsfund.org Pictured at left: The Herricks on the back deck of their new high-performance, energy-efficient home. Here are some facts about this type of home:

Fact: It requires just over 150 gallons of oil annually for total energy needs. If a homeowner adds rooftop solar panels, it requires from zero to 50 gallons. A typical manufactured home requires about 500 gallons.

Fact: It meets high EPA

The living room and kitchen in a high-performance home.

standards for healthful homes. Typical manufactured homes are made with potentially toxic materials that can damage the environment and contribute to illness for occupants.

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our fundho A Different Path

WHEN RON MILLER WAS IN HIS TWENTIES, his friends and family believed that he would follow a very clear-cut path through life.

As the oldest son, he was expected to join his family’s successful business. Ron worked during his youth for the company and for a while, thought that was exactly what he would do. Yet, as he progressed through his academic studies in history and philosophy, a new world emerged before him—a world in which Ron saw himself working for social justice as an educator instead of joining the family business. Ron reflects, “I realized that pursuing a business career would not honor who I was.”

Over time, he began to understand how his resources, when paired with his growing desire to affect social change, might make a positive impact in the world. With the encouragement of his family, Ron started giving to causes he believed in.

His relationship with the Community Foundation stands as a

“Because Vermont is a national leader

testament to the principles he developed as a young man. Says

in sustainability and new food systems,

Ron, “Through the Foundation, I’ve learned about remarkable

modest funding here can actually have a significant impact.”

—Ron Miller

programs and projects around Vermont that I can support.” Ron recently contributed to the High Meadows Fund’s Manufactured Home Innovation Project, which connects his passion for helping those in need with his strong interest in environmental issues.

“Honestly, it has been gratifying to use what I’ve learned and what I believe about the world to inform my giving,” he says.

Read about the project on pages 14–15.

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olders The Sport for a Lifetime

IN 2014, DAVID AND ELEANOR IGNAT DONATED the Middle-

Middlebury Indoor Tennis (MIT) has become an important part

bury Indoor Tennis facility to the Addison Community Ath-

of the community since being opened by the Ignats in 2001.

letics Foundation (ACAF), a supporting organization at the

The facility provides an opportunity to play tennis year-round,

Community Foundation that promotes access to, education

and research shows that the sport has a positive effect on emo-

about, and awareness of athletics and healthy behaviors in

tional and mental well-being for all ages. Tennis is often re-

greater Addison County.

ferred to as “the sport for a lifetime.”

ACAF now owns, operates, and supports the tennis facility as

ACAF has hired a part-time coordinator to help increase tennis

a nonprofit organization. The gift of the facility represents

programming and explore other ways of using the facility to

the generosity and long-term vision of the Ignats, and the

promote well-being. David and Eleanor (pictured above with

couple’s interest in promoting the sport of tennis dovetails

class participants) serve on the ACAF Board of Directors and

nicely with ACAF’s mission.

continue to help with day-to-day operations at MIT. 17

Thank you for referring clients to the Community Foundation and helping create a more vibrant Vermont.

L. Randolph Amis, Esq. L. Randolph Amis Esq., PC Jeanne C. Blackmore, Esq. Gravel & Shea, PC Reginald Boucher, CRPS Wells Fargo Advisors Paul D. Briody, CFP Wells Fargo Advisors Gary T. Brooks, Esq. Stebbins Bradley, PA Molly Bucci, Esq. Clarke Demas & Baker, PLC Jonathan Bump, Esq. Law Office of Jonathan Bump, Esq. Jason Cadwell, CPA/PFS, CFP Vermont Pure Financial Timothy W. Caldwell, Esq. Caldwell Law Edgar T. Campbell, Esq. Witten, Woolmington, Campbell & Bernal, PC Barbara H. Cane, Esq. Cane & Boniface, PC David Carris UBS Financial Services, Inc. Albert A. Cicchetti Little & Cicchetti, PC C. Kirk Clarke, Esq. Clarke Demas & Baker, PLC Leigh Cole, Esq. Dinse, Knapp & McAndrew, PC Leo V. Connolly Edward Jones 18

Joseph F. Cook, Esq. Corum, Mabie, Cook, Prodan, Angell & Secrest, PLC Charles R. Cummings, Esq. Retired Nancy K. de Tarnowsky, Esq. Dinse, Knapp & McAndrew, PC Charles N. Dinklage, CRPS Sequoia Financial Group James L. Donohue, CPA, CFP Gallagher, Flynn & Company, PLC Pamela J. Douglass, CPA McCormack, Guyette & Associates, PC Holly K. Dustin, Esq. Ledyard Financial Advisors Jon R. Eggleston, Esq. Primmer, Piper, Eggleston & Cramer, PC Sandra K. Enman, CPA, CFP, CVA Enman & Associates, PC John E. (Jeff) Fothergill, CPA Fothergill Segale & Valley David M. Gates, CFP GateHouse Financial Advisors, LLP Susan Otto Goodell, CFP Otto & Associates, Inc. Kathryn G. R. Granai, CPA Montgomery & Merrill PC John Harrington, PhD Harrington Investments, Inc. Nicholas D.N. Harvey, Jr., Esq. Stebbins Bradley, PA

ad Richard D. Hausman Clean Yield Asset Management, Retired Susan M. Hill, CPA, CFP Hill & Thompson, PC Thomas H. Jacobs, Esq. Jacobs Law Offices, LLC Eric W. Janson, Esq. Law Office of Eric W. Janson, PLLC Glenn A. Jarrett, Esq. Jarrett Law Office, PLC A. Jay Kenlan, Esq. Kenlan, Schwiebert, Facey & Goss, PC Theo Kennedy, JD, MPH Otis & Kennedy, LLC Gary W. Lange, Esq. Lange Law Offices Stephen P. Magowan, Esq. Sunrise Management Services, LLC Stephen P. Marsh Community National Bank John H. Marshall, Esq. Downs Rachlin Martin PLLC L. Raymond Massucco, Esq. Massucco Law Office, PC Douglas McCauley Madison Avenue Securities, LLC Lon T. McClintock, Esq. McClintock Law Office, PC Mark E. Melendy, Esq. Melendy Moritz PLLC Marcia S. Merrill, CPA Montgomery & Merrill PC

dvisors David Mickenberg, Esq. Mickenberg, Dunn, Lachs & Smith, PLC Willemien Dingemans Miller, Esq. Downs Rachlin Martin PLLC

Kristin Reed, CPA, CFP Williams Financial Management, LLC Pamela A. Rodriguez, CPA Pamela A. Rodriguez, CPA

Colleen L. Montgomery, CPA Montgomery & Merrill PC

Randall L. Sargent, CPA Jacobs, Morrissette, Marchand & Associates

Christine D. Moriarty, CFP MoneyPeace, Inc.

Henry Scheier, CPA, CFP Fine Plan Professional Corp.

Daphne Moritz, Esq. Melendy Moritz PLLC

Steven E. Schindler, Esq. Schindler Law Office, PLC

Emily R. Morrow, Esq. Emily Morrow Executive Consulting

Jonathan D. Secrest, Esq. Corum, Mabie, Cook, Prodan, Angell & Secrest, PLC

Brian R. Murphy, Esq. Dinse, Knapp & McAndrew, PC

“The Vermont Community Foundation is a valuable partner for professionals with clients interested in enriching lives in the community through the art of charitable giving.”

- Molly Bucci, Esq. Erik Valdes, Esq. The Law Firm of Erik Valdes Thomas Wagner, CFP Summit Wealth Group, LLC

Shelley M. Seward, CFP Commonwealth Financial Network

Fred Wainwright Ledyard Financial Advisors

John Simson, CLU Retired

David A. Ward, Esq. Ward Legal Group, PC

M. Brent Sleeper, AIF Granite Financial Group

Allen D. Webster, Esq. Paul Frank + Collins, PC

David B. Stackpole, Esq. Stackpole & French Law Offices

Robert A. Wells, Esq. McLane, Graf, Raulerson & Middleton

Tom Stransky, CLU, ChFC, CLTC Northwestern Mutual

James G. Wheeler, Jr., Esq. Downs Rachlin Martin PLLC

Cathy Systo Edward Jones

Richard C. White Community National Bank, Retired

William G. Post, Jr., Esq. Gravel & Shea, PC, Retired

Wallace W. Tapia, CPA Wallace W. Tapia, PC

R. Marshall Witten, Esq. Retired Witten, Woolmington, Campbell & Bernal, PC

Robert S. Pratt, Esq. Pratt Vreeland Kennelly Martin & White, LTD

Robert Thompson, CPA Hill & Thompson, PC

Robert E. Woolmington, Esq. Witten, Woolmington, Campbell & Bernal, PC

Sarah Gentry Tischler, Esq. Langrock, Sperry & Wool, LLP

Thomas P. Wright, Esq. Wright & Reeves, PLC

Kenneth M. Nussbaum, CPA/PFS, JD K. Nussbaum & Associates Anthony Otis, JD Otis & Kennedy, LLC Kevin M. O’Toole, Esq. Law Office of Kevin M. O’Toole, Esq. David W. Otto, CFP Otto & Associates, Inc. Leigh Keyser Phillips, Esq. Law Office of Leigh Keyser Phillips, Esq.

E. Randall Ralston E. Randall Ralston, PC

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financials AS OF DECEMBER 31, 2014 AND DECEMBER 31, 2013

2014 2013

(unaudited)

ASSETS

Cash and Cash Equivalents

$7,128,470

Investments

$6,840,410

$185,594,048 $183,558,345

Other Assets

$22,073,205

T O TA L A S S E T S

$1,861,682

$214,795,723 $192,260,437

LIABILITIES AND NET ASSETS Grants Payable, Accounts Payable, and Other Liabilities

$2,095,537

$2,382,759

Life Income Gifts Liabilities

$7,735,309

$7,374,299

Funds Held for Nonprofit Organizations

$29,283,607

$28,004,489

Total Liabilities

$39,114,453

$37,761,547

$145,343,654

$143,103,972

$30,337,616

$11,394,918

Total Net Assets

$175,681,270

$154,498,890

T O TA L L I A B I L I T I E S A N D N E T A S S E T S

$214,795,723

$192,260,437

Unrestricted Net Assets Temporarily Restricted Net Assets

Audited financial statements are available at www.vermontcf.org/financials.

NET INVESTMENT RETURNS

T O TA L A S S E T S

. . . through December 31, 2014

1 Yr.

(in millions)

5 Yr.

10 Yr.

VCF Long-Term Pool

4.5% 11.0%

3 Yr.

9.2%

7.3%

VCF Target Benchmark

2.8%

7.2%

5.1%

9.1%

Please visit www.vermontcf.org/investments for current investment returns and historical performance.

‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14

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$128 $153 $163 $117 $143 $155 $152 $167 $192 $215

s

STAFF

Felipe Rivera

Please visit www.vermontcf.org/staff

Vice President for Strategy and Communications

for the most up-to-date staff list.

Patrick H. Berry Vice President for Philanthropy

Lydia Brownell Fund Manager

Lauren W. Bruno Program and Grants Associate

Debra Rooney, CPA Vice President for Finance & CFO

Richard Ruane Information Systems Manager

Meg Smith Director, The Vermont Women’s Fund

Carolyn Weir

Heather Carlton

Philanthropic Advisor for the McClure Foundation

Accountant

& Program and Grants

Stuart Comstock-Gay President & CEO

Emilye Pelow Corbett

OUR SUPPORTING O R G A N I Z AT I O N S

Philanthropic Advisor

Please visit their websites to learn more.

Katie Grauer

Addison Community Athletics Foundation

Philanthropy Associate

www.vermontcf.org/acaf

Kim Haigis

The High Meadows Fund

Administrative Coordinator for Program and Grants

www.highmeadowsfund.org

Maria Hoaglund

The J. Warren and Lois McClure Foundation

Human Resource and Finance Specialist

www.mcclurevt.org

Christopher Kaufman Ilstrup

The Permanent Fund for Vermont’s Children

Senior Philanthropic Advisor for Program and Grants

www.permanentfund.org

Jane Kimble Executive Assistant & Building Manager

Laurie Lowy Accountant

Janet Malcolm Grants Associate

Janet McLaughlin Special Projects Director

Maggie Morris Community Philanthropy Fellow

The Vermont Community Foundation was established in 1986 as a permanent source of support for the state. We are a family of more than 675 funds and foundations created by Vermonters to serve their charitable goals. We provide the advice, investment vehicles, and back-office expertise to make giving easy and effective. The Foundation also provides leadership in giving by responding to community needs, mobilizing and connecting philanthropists to multiply their impact, and by keeping Vermont’s nonprofit sector vital with grants and other investments in the community.

David Morrissey

Photography: Governor’s Institutes of Vermont – front cover.

Controller

Todd Balfour – pages 3, 4, 8-9, 14-15, 16-17, back cover;

Martha Trombley Oakes

Sabin Gratz – pages 10-11; Caleb Kenna – page 1; Josh Larkin, CCV – pages 6-7;

Senior Philanthropic Advisor

John Lazenby – pages 12-13; Coutts-Moriarty Camp – page 5;

Jen Peterson

Outright Vermont – page 4.

Vice President for Program and Grants

Design: Serena Fox Design Company, Waitsfield, Vermont.

Paige Pierson Senior Communications Manager

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“My time at the Governor’s Institute made me feel like I could do something… that I shouldn’t be afraid to be me, to believe in and work towards my goals, and to change the things I want changed.”

—Governor’s Institute Participant Pictured on the front cover: A young woman works on a stone carving while participating in the Governor’s Institutes of Vermont (GIV) Arts Institute at Castleton State College.

GIV, a grantee of the Community Foundation, provides accelerated learning residencies on college campuses for highly-motivated Vermont teenagers.

3 Court Street Middlebury, Vermont 05753 Tel: 802-388-3355 / Fax: 802-388-3398 / info@vermontcf.org www.vermontcf.org

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The Vermont Community Foundation meets national standards for U.S. community foundations.