2009 Annual Report - Edmonton Community Foundation

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Report from the Chair & Chief Executive Officer Anniversaries give us a chance to reflect on the past and to look ahead to the future. As we near the end of our 20th anniversary year, the looking back is easy. The three founding families from 1989, John and Barbara Poole, Bob and Shirley Stollery and George and Rae Poole, are clearly and happily brought to mind, especially because Barbara and Shirley are still very much with us! What perhaps isn’t so widely known is the vision of these families – matching well their generosity. Although each family had its own particular charitable interests, they all put significant assets into a “community fund” so that the Foundation of the future could respond to emerging issues and urgent needs that weren’t apparent twenty years ago. The community fund has grown over the years, although the challenge remains to respond strategically and effectively to increasing needs in our community as other funding sources stagnate. So, our first twenty years are worth celebrating. From founding gifts totalling $15 million, ECF assets have grown to more than $250 million at the end of 2009. And during that time, more than $1 10 million has been distributed to hundreds of mostly local charities. They have done excellent work with those resources – thousands of people have been helped to address pressing needs and to respond to creative opportunities. As well, in our first twenty years, hundreds of other donors have joined the founders in setting up endowments at ECF – more than 550 named funds have been established and hundreds of will intentions have been recorded. What this means is that every year of our next twenty years (even in times of financial crisis or slower growth) millions of dollars will be put to work in our community – invested in essential work in health, education, social services, arts and culture, recreation and the environment. As a result, Edmonton will be a better place than it would be otherwise – for all of us. Several important things happened in 2009. After reviewing and fine tuning our asset mix and investment policies, ECF’s portfolio achieved the highest return on investment ever: 14.75% (15.24% gross of fees). Generous donors contributed more than $18 million last year, despite the uncertain economic climate. More than $10 million was disbursed to local charities during 2009 and more than a hundred and fifty students received scholarships and bursaries. During this anniversary year, we also made strategic efforts to reach out more broadly into the Edmonton community. We invited hundreds of people to a speaker series on the Future of Community and we distributed our first magazine, Legacy in Action, to tens of thousands of Edmontonians. Another successful Wills Week was held and the Social Enterprise Fund and Edmonton & Area Land Trust continued to grow. Significant community investments continued in the several Foundation Directed Initiatives – supporting high performing organizations and key collaborations, especially with our closest partners, United Way of Alberta Capital Region and City of Edmonton Community Services. These collaborative projects allowed us to leverage our funds to bring more resources to bear on urgent community 2 Edmonton Community Foundation • Annual Report 2009
problems and longer term opportunities. We also invested staff time in community leadership efforts – going well beyond the funding we were able to provide. At the Board level, we are sad to be saying good-bye to four key leaders who have served us well for many years: Karen Platten, Chair, John Holmlund, Deputy Chair, Ove Minsos and Zaheer Lakhani – they all served the maximum years allowed as Directors. Fortunately, the Committee of Nominators has provided worthy successors. Several committee members have also completed their terms and we thank them for their service to us and to you. As we enter our third decade of operations, this anniversary is an ideal time to say again how grateful we are for all of the generous donors whose commitment to Edmonton never fades. Your continued support and confidence in the Foundation has allowed us to make a lasting and positive impact on this community we share. The confetti strewn pages of the annual report highlight the theme of celebration. Because it is your foundation, we are delighted to wish you: Happy Anniversary! Karen Platten Chair Martin Garber–Conrad Chief Executive Officer Mission The Edmonton Community Foundation exists to help the people of Edmonton and area by encouraging philanthropy and funding charitable activities. Through contributions from donors, the Foundation assembles and administers permanent pools of capital so the returns can be perpetually reinvested in our community. The Foundation complements and supports other charitable agencies. Vision 21st century vision for Edmonton Community Foundation: • Trusted by donors as the first choice to create endowments • Recognized by charities as the primary source for grants that meet community needs, enrich people’s lives and build an enduring legacy of positive change • Acknowledged by community leaders as the right place for innovative and prudent investments in Edmonton’s future. Values The Edmonton Community Foundation values: • Its relationships with the community including donors, grantees, volunteers and staff • Its role as a catalyst for building and strengthening our community • The integrity, autonomy and independence of others • Openness, honesty, accessibility, fairness and mutual respect • Community leadership, visionary thinking and innovation • Fiscal prudence through efficient and strategic practices. 20 Years of Giving 3
Page 1 and 2: EDMONTON COMMUNITY FOUNDATION • A
Page 3: Table of Contents Report from the C
Page 7 and 8: Gifts Planned for the Future We tha
Page 9 and 10: CULTIVATING YOUNG PHILANTHROPISTS F
Page 11 and 12: Neil Kennedy & Shelley Williams “
Page 13 and 14: GIVING BACK TO THE COMMUNITY EDMONT
Page 15 and 16: ATCO Electric ATCO Gas ATCO I-Tek I
Page 17 and 18: Mark & Mary Anne Tokarik The Toront
Page 19 and 20: Justin & YESS Staff member Quena Sa
Page 21 and 22: MAKING OUR STREETS SAFER MEMORIAL &
Page 23 and 24: Matthew Howatt Matthew Howatt is us
Page 25 and 26: CREATING OPPORTUNITIES BELCOURT BRO
Page 27 and 28: Community Grants proGram Each year
Page 29 and 30: FOuNdATION dIRECTEd INITIATIVES Edm
Page 31 and 32: DESIGNATED FUNDS (continued) Year E
Page 33 and 34: DESIGNATED FUNDS (continued) Year E
Page 35 and 36: soCiaL EntErprisE FunDs The Social
Page 37 and 38: DONOR ADVISED FUNDS (continued) Yea
Page 39 and 40: DONOR ADVISED FUNDS DISBURSEMENTS (
Page 41 and 42: EmErGinG FunDs Emerging Funds allow
Page 43 and 44: Financial Highlights Year ended Dec
Page 45 and 46: auDitors’ rEport To the directors
Page 47 and 48: summarizED ConsoLiDatED statEmEnt o
Page 49 and 50: our staff From top left Shirley Sho
Page 51 and 52: Governance Committee Larry Pana, Ch

2009 Annual Report - Edmonton Community Foundation

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