2007 Annual Report - Greater Worcester Community Foundation

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Letter to the Community B y commingling energies as well as funds, we create common good. Ross K. Dik, President and Ann T. Lisi, Executive Director Our founders created an organization that enables us to transform our community by working together. We pool not only our assets but also our visions and energies. We put our individual visions to work within a common, flexible structure that enables each of us to do more than we could on our own. At same time, the growth of our resources—including our relationships, knowledge and funds—expands what the Foundation as a whole can do for the community. One of the ways we are doing more is by deepening our partnerships with nonprofits. As of 2007, the Foundation’s Negotiated General Operating Support pilot has provided three agencies with multi-year grants that match the scale of their ambitions. Also in 2007, the board approved grantmaking to capital campaigns, opening a new avenue for us to strengthen nonprofits. Our board and staff are also striving to do more by making efficient use of our human and financial resources. We have adopted best practices that help us to manage our growth. For example, the board has developed a strong governance committee and embraced succession planning. Now, as board leadership shifts, we can maintain continuity while giving our new chair the opportunity to have fresh impact. Although our staff is serving an ever-larger circle of donors and service providers, they remain a small group—just eleven people. They are developing skills to provide even better services while meeting increasingly aggressive goals. And they continue to guide the volunteer committees who are at the heart of our model of community philanthropy. This personal, face-to-face interchange connects service providers with new opportunities for growth and support and keeps donors close to the good work—and needs—of nonprofits serving Worcester County. By commingling energies as well as funds, we create common good. Thank you for taking part. Ann T. Lisi, Executive Director Ross K. Dik, Chair of the Board and President May 2005 to May 2008 2 Greater Worcester Community Foundation • 07 ANNUAL REPORT
Greater Worcester Community Foundation 2007 In Review By the Numbers Total assets $134,454,960 Gifts to new & existing funds $5,677,569 Investment returns 9.1% Grant dollars distributed $4,666,672 Number of grantees 352 New Funds 26 Total Named Funds 403 Community Volunteers 473 Key Accomplishments • Awarded grants totaling $2.7 million from discretionary, field-of-interest and committee advised funds, and $2 million from agency, designated, donor advised and scholarship funds. Dollars (Millions) 160 140 120 100 80 60 40 20 0 8 Total Assets as of December 31 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Contributions Received • Presented a total of $499,937 in scholarships to 340 recipients selected from 600 applicants in a review process that engaged more than 150 volunteers. • Grew total assets to $134.4 million with investment returns of 9.1%, $5.7 million in gifts to 120 funds, including 26 new funds. • Launched DonorCentral, an online tool that enables donors to securely access fund balances, grant activity and gift history; view and research funding opportunities; and recommend grantees. Dollars (Millions) 7 6 5 4 3 2 1 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 • Conducted 13 programs through the Nonprofit Support Center for 274 participants from 107 nonprofits. • Held the fifth annual Insights Tour, bringing together donors and service providers to explore needs of newlyarrived immigrants in the region and services to meet their needs. 7 6 5 4 Grants & Scholarships Approved 3 Since our founding in 1975, we’ve received nearly $100 million in gifts and awarded more than $60 million in grants. Dollars (Millions) 2 1 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Greater Worcester Community Foundation • 07 ANNUAL REPORT 3
Page 1: ANNUAL REPORT Our Vision Transforms
Page 6 and 7: Protect 4 Greater Worcester Communi
Page 8 and 9: Maureen Hendrickson Memorial Schola
Page 10 and 11: Heal 8 Greater Worcester Community
Page 12 and 13: Barbara Allen Booth Fund Making his
Page 14 and 15: Preserve 12 Greater Worcester Commu
Page 16 and 17: John W. Lund Fund Community Service
Page 18 and 19: Grantmaking The Foundation makes gr
Page 20 and 21: Grants Blackstone Valley Boys & Gir
Page 22 and 23: Grants First Unitarian Church Holli
Page 24 and 25: Grants Leicester Council on Aging L
Page 26 and 27: Grants Phillips Academy - Andover J
Page 28 and 29: Grants U U.S. English Foundation Bo
Page 30 and 31: Grants Worcester East Side Communit
Page 32 and 33: Contributors In 2007, the Foundatio
Page 34 and 35: Contributors Jeremiah and Elizabeth
Page 36 and 37: Contributors Mr. and Mrs. R. Emerso
Page 38 and 39: Contributors Terrie J. Hanna Carol
Page 40 and 41: New Funds A gallery of creative giv
Page 42 and 43: Invitation to the Acorn Society Aco
Page 44 and 45: Named Funds Discretionary, Field of
Page 46 and 47: Newell and Betty Hale Fund (2001) $
Page 48 and 49: Named Funds Designated Funds Louise
Page 50 and 51: The Foundation’s endowed scholars
Page 52 and 53: Andrew Sala Memorial Scholarship Fu
Page 54 and 55:
Committees Scholarship Selection Vo
Page 56 and 57:
Financials Statements of Financial
Page 58 and 59:
Board of Directors and Staff BOARD
Page 60:
Our Mission To enhance our communit
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2007 Annual Report - Greater Worcester Community Foundation

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