04090 L 03-04 Annual Report - The Dayton Foundation

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Letter from the Chair and the President Right Here at Home... Mother Teresa once said that there are no great acts, only small acts done with great love. Major changes frequently grow from small seeds planted in our own backyards. Our community provides us with a place to live out what we most deeply believe. And as Frederick C. Smith found (see the opening of this annual report), sometimes what we do at home can have what he calls “the ripple effect.” It can serve as an example to others far beyond our borders. No one knows what can come from a small act of kindness. The featured donor examples in this report highlight the broader story of the Foundation’s 2,700 donors and how they express and live their values and ideals through the funds they’ve established. As a community foundation, The Dayton Foundation has the joyful task of bringing together thousands of people and families, and helping them to have a greater impact collectively than any of us could do alone. That is the magic of community foundations. And through this collective effort, Foundation donors are deepening the sense of community that exists here. The desire for community is one of the deepest – and civilizing – age-old needs of human beings. Without it, we lack roots and a sense of place and belonging that nourish the human spirit and foster a network of caring toward others. The profound nature of this cannot be overstated. Report on 2003- 2004 During the last fiscal year, donors contributed $40.2 million to the Foundation and to their Foundation funds. In the same time period, $34.2 million flowed out from donor funds at The Dayton Foundation to charitable organizations and to our community. These dollars helped to build homes for people needing them, feed the hungry, educate children, foster interracial understanding, further the work of places of worship, promote health, nurture the arts, protect the environment and give sick children the chance to live out a special dream. These are among the many heartfelt acts committed by our donors. Because of this love of community, The Dayton Foundation, as of June 30, 2004, holds $238 million in community assets and records nearly $222 million in documented planned and deferred gifts that will come to the Foundation Foundation President Michael M. Parks and Governing Board Chair Judy D. McCormick at some future time for the benefit of our region and numerous charitable organizations. Stewardship To assure the best stewardship we can bring to the management of these community assets, the Foundation Governing Board revisited the Foundation’s investment policy in the last fiscal year and adopted a revised policy, designed for even greater stability and diversification. Funds invested under the Foundation’s new investment policy should provide recipient nonprofit organizations 2 Letter: The Dayton Foundation Report to the Community 2003-2004
with a more steady income stream over time, a tangible benefit to these organizations. To further strengthen our investment oversight, the Foundation Board moved to expand the investment role of the third-party, independent consulting firm, Fund Evaluation Group (FEG) in Cincinnati. FEG’s expanded role includes consulting on investment strategies, as well as evaluating and following up on the investment performance of financial institutions managing Foundation funds, including meeting regularly faceto-face with investment managers to discuss performance and investment allocation. The Foundation continues its long history of receiving unqualified opinions from the independent accounting and auditing firms conducting yearly audits of The Dayton Foundation. In addition, there have been no management comments issued about any of the Foundation’s systems or procedures for the third year in a row. The Foundation also continues to work hard to contain costs. Operating expenses are being maintained at barely over 1 percent of assets. Leadership Initiatives The Foundation Governing Board’s leadership initiatives continue, with the most substantial new effort going to the Diversity Initative, chaired by Emeritus Governing Board Member John E. Moore, Sr. The initiative mobilizes people and resources to promote multicultural diversity and harmony as a regional strength. A pilot diversity model for use by small- and mediumsized local businesses is being created to help attract and retain a diverse group of capable employees. Once it is completed, the model will be tested by the Dayton Tooling and Manufacturing Association. This will be an important step in aiding smaller businesses that want greater workplace diversity and can have a greater chance of success with the help of a tested model to guide them. The K-12 Education Initiative, chaired by Board Member Paula J. MacIlwaine and Emeritus Board Member Charles Abramovitz, includes two parts. The first is completed. It focused on the use of the Teacher/Leadership Academy to provide high-quality training programs for more than 5,000 local educators. The training aided teachers in improving student learning and scores on proficiency tests for some 65,000 students in 17 Miami Valley school districts. The second part of this initiative continues and involves major support for the Out-of-School Youth Program, which plays a vital role in providing alternative educational programs for area young people deemed lost to the school system and considered destined to end up in prison. To date, the program has aided more than 3,000 young people, 518 of whom already have received their high school degree or GED equivalent, with more graduates to follow. A New Donor Service During the fiscal year, The Dayton Foundation developed a new service (Family Foundation Plus– Advised – please see page 60) for people who have current private foundations and who wish to roll their foundations into The Dayton Foundation. This gives these individuals the ability to retain many of the benefits of their private foundations, while acquiring new tax, administrative and cost benefits through their association with a community foundation. Our nationally awardwinning web site (www. daytonfoundation.org) added another new donor service, called Connections. Connections (also mailed to donors three times a year) informs donors about grantmaking opportunities to local nonprofits that have applied for discretionary grants from The Dayton Foundation. In Conclusion This has been a good year for The Dayton Foundation. It has been a year of strong, active grantmaking to nonprofits, good investment returns and impressive, new contributions. It also has given us evidence of having real impact on the lives of people in our community, people who have been helped through our donors’ philanthropy and the leadership initiatives that their contributions make possible. On behalf of the entire Governing Board and staff of The Dayton Foundation, thank you for your generous hearts and caring spirit. With them, we are helping change the world...right here at home. Judy D. McCormick, Chair Michael M. Parks, President Letter: The Dayton Foundation Report to the Community 2003-2004 3
Page 1 and 2: Remember when you were younger... a
Page 3: Frederick C. Smith is a man used to
Page 7 and 8: Trustee Financial Institutions Bank
Page 9 and 10: ...through furthering interracial u
Page 11 and 12: Dayton Ballet Association ($7,500)
Page 13 and 14: Legacy Partnership Multi-Year Discr
Page 15 and 16: ...through protecting our fragile e
Page 17 and 18: Endowment Funds of The Dayton Found
Page 19 and 20: The JDS Fishing Foundation - 2004 w
Page 21 and 22: ...through instilling a world view.
Page 23 and 24: R. C. Appenzeller Family Endowment
Page 25 and 26: the historic Pollack House, which h
Page 27 and 28: ...through the promise of education
Page 29 and 30: L. William Crotty Family Foundation
Page 31 and 32: Dayton-area organizations. A member
Page 33 and 34: ...through help to animals... Jane
Page 35 and 36: The fund was established to honor E
Page 37 and 38: established by will in 1934, this f
Page 39 and 40: ...through fostering health and wel
Page 41 and 42: in Dayton. A lifelong resident of D
Page 43 and 44: The Oakwood Parks and Garden Fund -
Page 45 and 46: ...through growth via artistic expr
Page 47 and 48: Patty and Glenn Schimpf president o
Page 49 and 50: Mr. and Mrs. John N. Taylor, Jr., F
Page 51 and 52: ...through giving a second chance..
Page 53 and 54: Dr. Stanley A. Earley, Jr., and Cha
Page 55 and 56:
growth of Aullwood Audubon Center a
Page 57 and 58:
...through support for places of wo
Page 59 and 60:
Heather and Holly LeGros Memorial S
Page 61 and 62:
Twp. home from World War II until L
Page 63 and 64:
...through the hope of housing... J
Page 65 and 66:
Arthur E. & Jane T. Frame Robert M.
Page 67 and 68:
2003-2004 Contributors The Dayton F
Page 69 and 70:
...through making a child’s wish
Page 71 and 72:
Elliott, Dr. & Mrs. Harley M. Ellma
Page 73 and 74:
Thomas S. Martin, Mr. & Mrs. Willia
Page 75 and 76:
...through the transforming power o
Page 77 and 78:
Financial Highlights Much of the ye
Page 79 and 80:
❧ Donor-Directed Fund (Charitable
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04090 L 03-04 Annual Report - The Dayton Foundation

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