Vermont Community Foundation 2021 Annual Report

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Board of Directors Kathy Austin, Morgan Kristin Carlson (Secretary), Montpelier Cindy Char, Montpelier Carolyn Dwyer (Chair), Burlington Mark Foley, Jr., Rutland Dimitri Garder, Bennington Spencer Knapp (Vice Chair), Shelburne Allyson Laackman (Treasurer), Out of State John Vogel, Norwich Kate Williams, Waitsfield

Our board of directors consists of community leaders from around the state with diverse professional experience. The directors are chosen by the Community Foundation’s Members for their sensitivity to and knowledge of the state’s key issues.

Visit vermontcf.org/board to see the current list of the Foundation’s Members.

Better Together: Inspiring giving and bringing together people and resources to make a difference in Vermont.

C O N T E N T S …

Introduction from Dan and Carolyn . . . . . . . . . . . . . . . . . Page 1 St. Johnsbury . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 2 Financial Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 4 VT COVID-19 Response Fund . . . . . . . . . . . . . . . . . . . . . . Page 6 Our Fundholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 14 Our Funds and Foundations . . . . . . . . . . . . . . . . . . . . . . Page 16 Attorneys and Advisors . . . . . . . . . . . . . . . . . . . . . . . . . . Page 24

Dear Friends, Looking back on 2021, we see a more resilient Vermont emerging.

As much as the pandemic exposed the fissures in our society, it also accelerated opportunities to strengthen Vermont at its core—access to high-speed internet, increasing attention and support for mental health, new markets for farmers and food producers, investments in the digital economy, and communities taking on the real work of anti-racism, inclusivity, and belonging.

The Community Foundation and its fundholders were responsible for an unprecedented $67.9 million active in Vermont communities in 2021.

Our job at the Community Foundation is to hold a vision for the future—5, 10, even 25 years ahead— and make good decisions today holding that vision in mind. In the face of continued uncertainty and volatility like COVID-19, the war in Ukraine, and the effects of climate change, it’s our job to stay curious, be willing to take risks, and seed innovation and growth with early investments that move Vermont toward that vision.

As a foundation, we are deeply aware that philanthropy’s effect on Vermont communities is not limited to its grantmaking. Our impact can be felt in how we invest the philanthropic assets entrusted to us by our donors. With that in mind, in 2020–2021 the Community Foundation migrated its discretionary funds from the Long-Term Pool to the Socially Responsible Pool.

The past two years have shown us that Vermont’s philanthropy can be nimble in response to the circumstances that exist today, while staying steady in pursuit of a long-term vision.

The stories in this report shine a light on the organizations that are moving Vermont forward and remind us that behind our systems are people—Vermonters working to improve their communities and deepen their connections to one another.

If nothing else, 2021 expanded our understanding of how essential we all are to each other. And that sense of connection is what makes a community stronger.

Dan Smith, President and CEO

Carolyn Dwyer, Board Chair

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St. Johnsbury Rewrites Its Story

“What would 100,000 visitors do for St. Johnsbury’s economy?” asks Joe Kasprzak. It’s a question he and others are on the path to answering.

T

he long list of recent changes in St. Johnsbury, including the renovation of the iconic New Avenue Hotel into housing and retail spaces (a mission investment of the Vermont Community Foundation), expansion of the Lamoille Valley Rail Trail, conservation of Observatory Knob, a new police station, and more than a dozen new businesses and restaurants downtown, only tell part of the story.

“St. Johnsbury’s narrative about itself is changing,” said Gillian Sewake, director of the St. Johnsbury Chamber of Commerce. “We’re starting to see ourselves as a town that can attract tourism and as a vibrant place for people to live.”

Joe Kasprzak, assistant town manager, agrees. He points to a meeting convened by the Vermont Council on Rural Development in 2015 that brought more than 200 residents together to envision the future of St. Johnsbury.

“It ignited a new way of thinking,” said Kasprzak.

“We realized that if we wanted something different, we were going to have to do it ourselves and invest in our community.” That energy, fueled by both long-term residents and a wave of young people moving back to raise their families, attracted early money from the Vermont Community Foundation and other grantmaking organizations, and has started to attract private investment as well. Kasprzak added, “That first-in, upfront money was really critical.”

“There is a renewed sense of pride,” said Sewake, who grew up in St. Johnsbury, “and an enormous amount of excitement and energy.”

Placemaking & Wayfinding There is not one project that fully captures the momentum in St. Johnsbury. It’s the story of a town coming together around a shared vision to create a place anchored by history, surrounded by nature, and thriving with arts, culture, and commerce.

Building on well-known attractions such as the Fairbanks Museum & Planetarium and the St. Johnsbury Athenaeum, grants from the Vermont Community Foundation are helping to support #GetDowntown, a family-friendly music and entertainment series, and Light Remedy, a community art project located across from a senior living facility.

The newly conserved Observatory Knob, supported by the NEK Fund, expands recreational opportunities within walking distance of downtown, and the town is working to connect walkers and bikers on the Lamoille Valley Rail Trail to businesses and restaurants through better signage and mapping, also known as wayfinding.

“We are investing in building a sustainable and inclusive community,” said Sewake.

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“We’ve been pushing a boulder uphill for seven years and we’re finally at the top. It’s been a lot of work, but it feels pretty good.”

—Joe Kasprzak, St. Johnsbury Assistant Town Manager

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Financial Report for 2021 As of December 31

ASSETS

2021 (unaudited)

2020 (audited)

$18,602,974

$17,176,636

Investments

$404,276,737

$359,884,695

Other Assets

$11,118,569

$14,616,376

$433,998,280

$391,677,707

and Other Liabilities

$3,686,777

$1,920,931

Planned Giving Liabilities

$9,766,598

$9,751,481

$69,571,540

$61,284,075

TOTAL LIABILITIES

$83,024,915

$72,956,487

TOTAL NET ASSETS

$350,973,365

$318,721,220

TOTAL LIABILITIES AND NET ASSETS

$433,998,280

$391,677,707

Cash and Cash Equivalents

TOTAL ASSETS LIABILITIES AND NET ASSETS Grants Payable, Accounts Payable,

Funds Held for Nonprofit Organizations

TOTAL ASSETS

$400M $300M

2015

2016

2017

2018

2019

2020

2021

$100M

2014

$200M

$215M

$224M

$252M

$311M

$323M

$371M

$392M

$434M

0

NET INVESTMENT RETURNS THROUGH DECEMBER 31

1 Yr. 3 Yr. 5 Yr. 10 Yr.

1 Yr. 3 Yr. 5 Yr. 10 Yr.

Long-Term Pool

11.7%

12.7%

9.7%

8.9%

Socially Responsible Pool

11.7%

14.6%

10.9%

9.4%

Target Benchmark

11.6%

14.1%

10.2%

8.4%

Target Benchmark

10.8%

14.5%

10.5%

9.0%

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

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At Work in the Community ✔ Grants: $44.4 Million

$67.9

✔ Mission Investments: $17.9 Million

✔ Programmatic Activity: $5.6 Million

TOTAL CONTRIBUTIONS RECEIVED:

$52.9 Million

Grantmaking by Year

Million

$44.4

2021

$31.9

2020

$25.8

2019

$18.1

2018

$15.1

2017

MISSION INVESTMENTS A portion of every fund at the Community Foundation is invested in the Vermont Mission Investment Pool. Before a donor advised fund has made its first grant, five percent of the money is making a difference in the community through downtown redevelopment, affordable housing, entrepreneurship, job creation, clean energy, and more. This puts charitable investments alongside grantmaking for greater impact—with a return that is far more than just financial.

COVID-RELATED GRANTMAKING * ■ COVID-19 Response Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . made possible by contributions from our donor advised fundholders and other donors

$9,998,470

■ Supporting Organizations including the McClure . . . . . . . . .

Foundation, Let’s Grow Kids, and High Meadows Fund

$1,134,015

■ Community Foundation Directed . . . . . . . . . . . . . . . . . . . . . . . $3,270,501 grants from the Foundation’s discretionary funds

■ Donor Advised Funds grants recommended by . . . . . . . . . . .

Community Foundation fundholders

$3,958,090

■ People & Places Funds informed by community . . . . . . . . . . . . members from around the state, such as the Vermont Women’s Fund, the Samara Fund, the Northeast Kingdom Fund, and others

$660,450

* March 2020 - December 2021

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$19.02 Million

Nearly $10M in grantmaking through the VT COVID-19 Response Fund THE FUND WAS CREATED to support both short-term response and longer-term recovery.

Putting resources in the hands of nonprofits at a time of urgency was our first priority, and the work our partners are carrying forward is just as essential.

The $9,998,470 distributed through the VT COVID-19 Response Fund represents about half of the $19.02 million in COVID-related grants made through the Community Foundation from donor advised funds, supporting organizations, and people and places funds between March 2020 and December

2021. Our fundholders and other donors stepped up in a big way to make this possible.

Together we are rewriting the script for Vermont communities and creating fundamental changes toward a vibrant, equitable, healthy, and diverse future.

RESPONSE GRANTS Health& Well Being 14.5%

Response Grantmaking:

$5,978,140

Food Access 8.2%

Responsive 4.8%

Food Access: $492,461 Basic Needs and Community Support: $560,653 Senior Support: $773,500

Through senior centers, meal sites, and home health and hospice centers

Safe Shelter: $1,120,500

Including access to housing and legal resources for families, women, and children

Support for Youth: $1,541,815

Including parent-child centers and K-12 schools

Support for Historically Marginalized Communities: $335,724 Including BIPOC individuals and other under-supported Vermonters

Responsive Grants: $287,750

To organizations that shifted focus and/or expanded capacity due to greater demand of services

Health and Well Being: $865,737

To support mental and physical health, including support for Vermont’s uninsured

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9.4% Seniors Support 12.9%

Marginalized 5.6% Communities

Grants to community action agencies for housing, clothing, and food

Basic Needs

Support for Youth 25.8%

Safe Shelter 18.7%

VT COVID-19

“GETTING RESOURCES to our nonprofit partners quickly and efficiently so that they could continue to serve their communities through challenging times was our priority.

Supporting the Community Foundation’s VT COVID-19 Response Fund allowed us to do so rapidly and strategically.”

RESPONSE FUND

— Daphne Rowe, The Donley Foundation

RECOVERY INITIATIVES

Food Systems 21.1% Rural Entrepreneurship

Recovery Initiative Grantmaking:

$4,020,330

Equitable Communities 16.7%

20.6%

Rural Connectivity 13.9%

Resilient Food Systems: $847,505

Mental Health 10.4% Learners in Transition 17.4%

Long-term viability of our farms and food security for Vermonters

connected, safe, and engaged

TOTAL VT COVID-19 RESPONSE FUND GRANTMAKING

Expanded capacity for crisis response and long-term prevention and

FROM MARCH 2020 TO DECEMBER 2021:

Equitable, Anti-Racist Communities: $673,000 A more inclusive and diverse state where all people feel

Mental Health and Suicide Prevention: $416,325 intervention support

Learners in Transition: $698,500

Pathways to education and career training that lead to promising jobs

Rural Connectivity: $558,000

Accessible and affordable high-speed internet for everyone and every business in Vermont

Rural Entrepreneurship: $827,000

Business creation and innovation throughout the state for a stronger economy

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$5,978,140 + $4,020,330 $9,998,470

Opportunity and Growth for Vermont Food Hubs RESILIENT FOOD SYSTEMS Representing food hubs at opposite ends of the state, Jon Ramsay and Richard Berkfield both say that while the pandemic exacerbated and exposed cracks in our food systems, it also accelerated the creation of new opportunities to support farmers and address food insecurity.

As the pandemic interrupted supply chains, “many farm stands and retailers turned to us to fill their shelves,” said Berkfield, executive director of Food Connects. “It allowed us to make new connections with food producers and those orders aren’t going away. Retail has really shifted.”

At the same time, the food hubs worked to leverage what they were already doing for large institutions—coordinating orders, processing, and delivering local food—for hunger relief organizations.

“Local food has long been perceived as inaccessible to people of low income,” said Ramsay, executive director of the Center for an Agricultural Economy, “but food hubs can increase access by using existing infrastructure. If we’re coordinating the pick-up of produce from multiple farms for a large institution, we can also pick up produce for the food pantry.”

Berkfield and Ramsay have also seen new regional connections emerge. “New Hampshire is one of our biggest new customers,” said Berkfield, adding that the connections go both ways.

“Maybe squash in Vermont doesn’t do well, but squash on the seacoast does,” he said. “We can still get family farm products into Vermont without buying from the commodity market. We weren’t thinking about that when we were thinking just hyper-local or even within state lines. We’re operating outside of the normal ways and thinking of the big picture. It’s really exciting.”

The Vermont Community Foundation and its fundholders provided more than $330,000 to Vermont food hubs as part of the $847,505 granted thus far for food system resilience through the VT COVID-19 Response Fund.

“The Community Foundation support at the height of the pandemic allowed us to respond to community needs,” said Ramsay, “and rapid shifts that were occuring in both the market and supply chain.”

“The pandemic shined a light on the human aspect of what it takes to put food on your table. We now understand that essential workers include the people making and processing food.”

—Jon Ramsay, Center for an Agricultural Economy Executive Director 8

VCF Annual 2021

C OV ID

Cultivating Community in Vermont EQUITABLE, ANTI-RACIST COMMUNITIES A newly hired farm team at Newfane’s SUSU CommUNITY Farm helped move the organization closer to its vision of an Afro-Indigenous farm and landbased healing and education center.

In Montpelier, a new staff member at the Education Justice Coalition of Vermont promoted equitable and inclusive educational standards.

While one organization worked the land and the other the halls of the state house, both contributed to building a stronger sense of belonging in Vermont. The Community Foundation was able to play a supporting role in this fundamental work, thanks to the generosity and flexibility of fundholders who made possible $673,000 in grantmaking by the end of 2021 from the VT COVID-19 Response Fund toward building belonging in Vermont communities.

“Supporting organizations—especially those doing the deep, necessary, and challenging work of dismantling systemic racism—with flexible funding during the pandemic allowed them to focus on the urgent work at hand,” said Kate McCarthy, senior program officer at the Community Foundation.

Building Regenerative CommUNITY SUSU CommUNITY Farm expanded their Box of Resilience CSA program—which provides free fresh food, healing modalities, and connections to BIPOC and new refugee families—and added Food as Medicine classes and free herbal consultations for BIPOC commUNITY members.

“SUSU is embarking on a history-making project that will fulfill our vision of a thriving and resourced BIPOC-led commUNITY in Vermont,” said Aiden Thompson, director of development at SUSU. “The Community Foundation has supported us in deeply impactful ways on this journey.”

Advocating for Equitable and Inclusive Educational Standards With a new staff member on board, the Education Justice Coalition gathered community input, offered presentations, created accessible outreach materials, and supported student representatives to the Act 1 Ethnic Studies and Social Equity Working Group.

“We are addressing education injustice and a whitewashed school curriculum,” said Alyssa Chen, a coordinator at the Coalition, adding that “updates to Vermont’s Educational Quality Standards that are aligned with justice and equity are almost complete.”

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R E C O V E RY I N I TI AT IV ES

COVID

R E C O V E RY I N I TIAT IV ES

Comforting Children and Teens Waiting in Emergency Rooms “America, this is a wake-up call.

Our children and teens are in a mental health crisis.”

— American Academy of Pediatrics, 2021 MENTAL HEALTH AND SUICIDE PREVENTION The “wake-up call” was no surprise to Emma Harrigan at the Vermont Association of Hospitals and Health Systems (VAHHS). “During the pandemic, we saw anywhere from 10 to 20 children boarding in emergency departments while waiting for mental health placement, many of them for six days or more,” she said.

Harrigan is hopeful that the shared experience of the pandemic, in which many people felt some degree of social isolation, hopelessness, and overwhelm, will bring systemic change to mental health care in Vermont.

In the meantime, VAHHS, the Vermont Program for Quality in Health Care (VPQHC) and the Vermont Community Foundation have come together to provide children and teens waiting in ERs for inpatient mental health care with coloring books, card games, fidget spinners, and mindfulness activities.

The Emergency Room Youth Activity Project was brought to life by Bonnie Collins at VPQHC, who shopped for the items, boxed up the brightly colored toys and games, and helped to deliver them to hospitals around the state. “I can’t get them there fast enough,” said Collins. “They’re for the patient, but they’re also for the provider who gets to be a ‘minute hero’ in a very stressful situation.”

“Intro quotehere inp la c es w hereit m a k es senc ea nd w eha veit, b ut not f or a ll. ”

Based on best practices, the kits include “something patients can touch, something they can do, and something interactive that encourages engagement,” said Collins. Every item is carefully chosen for various age groups, with consideration for developmental challenges and safety.

This initiative, along with the nearly $48,000 grant to develop the kits, was inspired by an individual fundholder dedicated to improving mental health for Vermonters. It is part of more than $416,000 distributed thus far from the $750,000 allocated to mental health through the VT COVID-19 Response Fund.

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Scholarships Support Nursing Students LEARNERS IN TRANSITION As headlines of nursing shortages dominated the news last year, Lisa Fox, associate dean of nursing at Vermont Technical College, was worried about enrollment.

“I thought people might be afraid to work in nursing during the pandemic, or that they just wouldn’t be able to afford going back to school,” she said.

Thanks in part to a grant from the Vermont Community Foundation and a report from the McClure Foundation that identified nursing as a “best bet” career in Vermont, those fears were unjustified.

“LPNs (licensed practical nurses) are the backbone of Vermont’s nursing practice,” said Fox. “They are everywhere in the community— doctors’ offices, long-term care facilities, home health organizations. They’re an important part

of keeping health care in Vermont moving.

We need people filling those roles.”

“Since many of our students come to the program at a stage in life where they already have family and financial responsibilities, the scholarships made it possible for them to continue in their career or change into something they’ve always wanted to do,” she said. “Not only was the program full, but we added seats to accommodate qualified applicants.”

With 100% job placement, upwards of 90% of Vermont Tech nursing students remain in Vermont.

The $145,000 grant from the VT COVID-19 Response Fund in conjunction with the McClure Foundation’s Best Bets program inspired an additional $5 million in public funding for the most promising jobs in Vermont.

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Expanding High-Speed, Reliable Internet RURAL CONNECTIVITY Just like many internet connections around Vermont, money for a fiber optic cable purchase was coming, but not fast enough.

the purchase possible, saving the state nearly $2 million according to Fish, and guaranteeing that the cable would be on hand at the start of Vermont’s short construction season.

“This is an all-hands-on-deck moment to capture and leverage resources from the state and federal government, private institutions, and municipalities across the state,” said Robert Fish, deputy director of the Vermont Community Broadband Board in a December press release.

The fiber optic cable, which was distributed to six of the state’s nine Communication Union Districts (CUDs), will be used to build publicly owned broadband networks around Vermont over the next two years. The Community Foundation, an early contributor to the formation and organization of the CUDs, has supported their work with $270,000 of the $558,000 granted for rural connectivity through the VT COVID-19 Response Fund.

At issue was the purchase of 2,000 miles of fiber optic cable with a price tag of close to $7 million.

There was no question Vermont needed the cable to bring high-speed internet to rural parts of the state, but federal money for the purchase would not arrive before the price increased, possibly by as much as 35 percent.

The Vermont Community Foundation and other partners stepped up with a loan guarantee to make

For the 81,000 people in Vermont without access to high-speed internet, the cable purchase was a step toward ensuring they can access remote work, telemedicine, and online learning opportunities.

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C OV ID

Building for the Future Economy in Rutland We are building a place that is flexible for the future economy.

—Lyle Jepson, CEDRR Executive Director RURAL ENTREPRENEURSHIP How might virtual reality help a technician repair a piece of equipment? Or safely train electrical transmission line workers? Lyle Jepson, executive director of the Chamber and Economic Development of the Rutland Region (CEDRR), is the first to admit he doesn’t have the answer, but he’s building a space in Rutland for the people who do.

“The culture of work is changing and Vermont is perfectly positioned to welcome people who are mobile, but we have to be ready,” said Jepson.

Rutland’s Tech Startup Incubator (RTSI) is based on a hub model developed in collaboration with the Center on Rural Innovation (CORI), headquartered in Hartland. That model envisions downtown buildings that attract vibrant arts and culture amenities and digital economy jobs. Located in the Opera House, RTSI will house Hub Coworks, a coworking space, and their Tech Onramp program to incubate scalable technology startups.

RTSI will complement the existing MINT Maker Space in Rutland, which recently doubled its square footage to accommodate its 120 members.

Jepson is also working with the Center for Women & Enterprise and the Rutland branch of the NAACP to ensure that RTSI attracts entrepreneurs from underrepresented groups. “We need everyone,” said Jepson.

“It’s a big project, and time is money,” said Jepson. “A grant from the Community Foundation gave us the time, in terms of capacity, to make this happen. They also asked all the right questions and introduced us to people working in this space around the state.”

The VT COVID-19 Response Fund grant to CEDRR builds on the Community Foundation’s commitment to rural entrepreneurship over the past two years. The $827,000 in grantmaking for this initiative also included a $250,000 grant to CORI in 2020, in part to bring the hub model to Vermont towns.

“There is no need to recreate the wheel when we’re all pulling in the same direction,” said Jepson.

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VCF Annual 2021

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R E C O V E RY I N I TI AT IV ES

OUR

F U N DH OLDE RS

Liana Moskowitz ——

Redistributing Wealth to Repair Past Harm “The inheritance of wealth comes with the inheritance of harm that happened in the process of extracting that wealth.”

Liana Moskowitz is a 35-year-old social worker from Brattleboro who decided to divest her inheritance from the stock market and redistribute her wealth.

An organizer with Resource Generation—a community of young people with wealth and/ or class privilege committed to the equitable distribution of wealth, land, and power— Liana says she became politicized through experiences that made clear the impact of inequity and structural oppression. “So, when I had access to wealth of some scale, something felt off,” she said.

Through a donor advised fund with the Vermont Community Foundation, Liana supports the Root Social Justice Center and the Vermont Workers’ Center. Resource Generation’s Vermont chapter partners with these and other organizations working toward racial and economic justice.

Central to her values around giving is listening to movement leaders and the people impacted by systemic oppression. “It’s a shift away from the traditional approach to philanthropy, where you look at things from your own perspective and decide what to fund based on those values,” she said.

“I work with people who have been impacted by systemic trauma at an individual level,” said Liana. “It feels important to direct funds towards repair both nationally and locally here in Vermont, and the Community Foundation had those connections in place.”

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OUR

F U N D HOL DERS

Sandy and Sarah Bernhardt ——

Deepening Connections Through Charitable Giving “Vermont is our restful place, our family gathering place, a respite. It’s a place that brings our family and friends together. What can we give back?”

Every time Sandy and Sarah Bernhardt see the bus from Neighborhood Connections bringing people to the grocery store, they exchange a small smile. “As second homeowners, there isn’t a strong connection to the people who live here,” said Sandy.

“Contributing to the community makes us feel more a part of this place we love.”

The Bernhardts’ ties to Vermont root much deeper than their home in southern Vermont. Sandy grew up in Vermont and the couple met at UVM, where their oldest son is currently in his first year. Sandy’s father served four terms in the Vermont legislature and was moderator of Londonderry’s Town Meeting for over 20 years.

“Through our philanthropic advisor, we learned about charities in Vermont where we could make a real impact,” said Sandy, who has a donor advised fund with the Vermont Community Foundation. The Mountain Town Connector, a free bus in Londonderry, was one of those projects. “Helping provide transportation so people can get to appointments and buy food feels different than funding cancer research. Both are important, but that van is helping people we see when we are in town. It’s very fulfilling.”

Knowing that their contributions are impactful is important to the Bernhardts. “We have a lot of faith in the Community Foundation’s guidance. We know they are sincere about improving the communities where they live,” said Sandy. [ To see our current list of funds, visit vermontcf.org/componentfunds. ]

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The Community Foundation is made up of hundreds of funds and foundations

Here are some of their highlights 16

VCF Annual 2021

OUR FUNDS

AND FOUNDATIONS

High Meadows Fund ——

Forest Health and Integrity Initiative RESILIENT AND ADAPTABLE forests provide homes for birds and wildlife, sequester carbon, and provide meaningful livelihoods. With support from the Vermont Community Foundation’s Colby Hill Fund, the High Meadows Fund awarded $310,000 to build trust with landowners, coordinate and enhance forest management expertise, and promote a vibrant forest economy.

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OUR FUNDS

AND FOUNDATIONS

Let’s Grow Kids ——

Early childhood education systems change in action “With the help of Let’s Grow Kids, I opened a beautiful child care center and a successful business that will help my community forever.”

—Thembi Muhlauri

THANKS TO SUPPORT from 35,322 Vermonters, in 2021 the Vermont State Legislature passed a comprehensive bill that set in motion a public commitment to achieve a statewide system of early childhood education that centers equity, affordability, and quality.

Simultaneously, Let’s Grow Kids invested in child care capacity, quality, and systems innovations—including creating 1,441 new child care spaces statewide!

OUR FUNDS

Opportunity Fund for Southshire Youth ——

AND FOUNDATIONS

$73,850 in Grants Since Inception A NEW MURAL at Mount Anthony Union (MAU) High School is among the projects funded by the Opportunity Fund for Southshire Youth in 2021. The permanent, visual reminder that diversity is valued and everyone is welcome at MAU was designed by the school’s Sexuality and Gender Awareness Alliance (SAGAA) Club. Since its inception four years ago, teenagers dealing with poverty and marginalization.

© Mia Schultz

the fund has fueled $73,850 in grants for Bennington-area

The Curtis Fund ——

Nearly $1.7 Million in Scholarships* WHEN IAN BAKER graduated from Vermont Technical College with a Bachelor of Science in Manufacturing Engineering Technology in May 2022, he joined more than 11,500 Vermont students who have received a Curtis Fund scholarship. “Overcoming challenges is in itself a reward and motivator for me,” says Ian, who has cerebral palsy. Ian was recognized as Vermont Tech’s Student Engineering Technician of the year and plans to start his own company to prototype affordable assistive devices. * For the 2021-22 academic year

OUR FUNDS

AND FOUNDATIONS

Northeast Kingdom Fund ——

$129,500 in Grants 2021 was one of the Northeast Kingdom Fund’s largest grantmaking years to date, supporting youth and education, community engagement, access to healthcare, and outdoor recreation. Among 23 grantees, the Vermont Land Trust received $5,000 to support St. Johnsbury in the acquisition and conservation of Observatory Knob, a 114-acre property within walkable distance of downtown. One component of broad downtown revitalization, Observatory Knob protects a recreational resource in the heart of St. Johnsbury.

Addison Community Athletic Foundation ——

14 Outreach Scholarships PROMOTING HEALTH through athletics and physical activity—the mission of the Addison Community Athletic Foundation—was especially meaningful during the pandemic. Through Middlebury Indoor Tennis, the Foundation provided 14 scholarships to young players, encouraging good health and good fun in a safe environment.

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OUR FUNDS

Vermont Women’s Fund ——

AND FOUNDATIONS

$331,000 in Grants A FOCUSED EFFORT to encourage applications from nonprofits serving diverse populations of women and girls led to a record-setting grantmaking year for the Vermont Women’s Fund. Grants totaling $331,000 were awarded to 29 nonprofits that are driving economic and social change for women and girls in Vermont. In 2021, the Women’s Fund’s partnership-initiative, Change The Story, released a wage equity toolkit to help small to mid-sized businesses achieve pay equity—a groundbreaking achievement.

The Women’s Fund This Way UP campaign aims to identify women-owned businesses and women leaders across Vermont.

Learn more at thiswayupvt.com.

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OUR FUNDS

Samara Fund ——

AND FOUNDATIONS

Fund Assets Reach $1 Million DONORS TO Our Work is Not Done: Campaign for the Samara Fund lifted the combined fund assets to more than $1 million, helping to ensure that LGBTQ+ Vermonters are connected, healthy, appreciated, safe, and empowered. Samara is the only set of endowments in Vermont ensuring a permanent base of funding for LGBTQ+ Vermonters across all regions and ages.

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OUR FUNDS

AND FOUNDATIONS

J. Warren & Lois McClure Foundation ——

14 Years of Supporting College and Career Training WHEN COLLEGE AND CAREER TRAINING is guaranteed to be affordable and accessible, Vermonters will enroll. In 2021, the McClure Foundation called for Vermont to get serious about public policy priorities for higher education, publishing a white paper that overviews the state’s current policy and funding framework for higher education and offers several possible paths forward. Read the paper at mcclurevt.org/policy.

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OUR TRUSTED

PARTNERS

Susan Goodell, Otto & Associates FINANCIAL ADVISOR

“I encourage clients to think about charitable giving throughout life and not put it off until they ‘have enough.’

There is joy in giving, even if it’s a small monthly donation, that comes with caring for your community and knowing you’re helping to improve a situation.

“The Vermont Community Foundation is a tremendous resource. I help clients identify their broad philanthropic goals and then lean on the deep bank of knowledge at the Foundation to foster connections between clients and charities that put those goals into action. And when emergencies arise, like COVID-19 and the humanitarian crisis in Ukraine, I know the Community Foundation has done the vetting.”

There is a joy in giving that comes with caring for your community.

To see our current list of referring attorneys and advisors, visit vermontcf.org/advisors.

2021 Annual Report Photo Credits and Acknowledgements Cover: Photos as credited on pages 8, 11 and 13

Page 17: Inset courtesy Northwoods Stewardship Center,

Inside Front Cover: Caleb Kenna

full page image courtesy Merck Forest & Farmland Center

Page 2: Harrison Creative

Page 18: Courtesy Let’s Grow Kids

Page 3: Courtesy St. Johnsbury Chamber of Commerce

Page 19: Courtesy the Curtis Fund

Page 7: John Lazenby

Page 20: Courtesy of Addison Community

Page 8: Courtesy Food Connects

Athletics Foundation. Caleb Kenna

Page 9: Courtesy SUSU CommUNITY Farm

Page 21: Caleb Kenna

Page 10: Courtesy Vermont Program for Quality in

Page 22: Courtesy Out in the Open

Health Care, Inc.

Inside Back Cover: Caleb Kenna

Page 11: Courtesy Vermont Tech

Back Cover: Caleb Kenna

Page 12: Valmedia Creatives | Dreamstime.com Page 13: Courtesy Chamber and Economic Development of the Rutland Region (CEDRR)

Writing: Emily Bradbury

Page 16: Last row, center image courtesy Merck Forest

Design: Serena Fox Design Company

& Farmland Center, all other photos as credited

Printing: L. Brown & Sons

on pages 17-22

© 2022

2021 2021Annual AnnualReport Report 24 24

The work of making a difference is never done.

—Dan Smith, President and CEO

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The Vermont Community Foundation 3 Court Street Middlebury, VT 05753 vermontcf.org

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