cfo annual report 2011 for website - cfok.org filewhen most families get together for the holidays,...
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GROWING PHILANTHROPY COMMUNITIES FOUNDATION OF OKLAHOMA
ANNUAL REPORT 2011
Fathers everywhere are right. Money doesn’t grow on trees. Every dollar is important and every gift of generosity can change a community. It just takes a little nurturing, a little love, and a lot of room to grow. Communities Foundation of Oklahoma knows that every investment in a community is the start of something big. A little seed money can turn into a reduced tuition bill, relief from the storm, or a school changed. So maybe money doesn’t grow on trees, but investing even one dollar into a community helps grow a forest of philanthropy. Growing philanthropy. It’s what we do.
Growing Philanthropy… one student at a time
“A teacher affects eternity; she never knows where her influence stops.” Henry Brook Adams For two sisters, they knew that they didn’t want their influence to end with the students they taught, but to continue on forever with students who never got the chance to sit in their classroom. Growing up in the 1920’s, Elaine and Bernice Smith knew that the “typical life” for girls was not going to be their destiny. The idea of getting married, having children, and making a life at home wasn’t exactly what they had in mind. Thanks to their parents, Elaine and Bernice loved learning and knew that a life filled with education was what they wanted. After graduating from Lawton High School, the sisters went on to receive bachelors degrees in education and masters degrees in English. Their love of learning didn’t stop with their degrees. For 41 years at Lawton High School, Eisenhower High School, and Cameron University, the Smith sisters instilled their enthusiasm for education in hundreds of students. Never having children of their own, the students in the Lawton Public School District became their extended family. In 2009, Elaine passed away and in 2011, Bernice joined her sister...but the story doesn’t end there. Their wish to help students in Lawton Public Schools forever was fulfilled through their establishment of the Bernice and Elaine Smith Endowment Fund for Lawton Public Schools. The $300,000 donation, the largest in Lawton Public Schools Foundation’s history, will allow teachers and students to forever benefit from the sisters generous spirit. Teachers truly touch a life forever, but these sisters took it to a whole new level.
Growing Philanthropy… as a family
When most families get together for the holidays, they eat, tell stories of holidays past, play games, exchange gifts, and maybe squabble a bit. When one anonymous family in Oklahoma City gets together, holidays are a little different. They get together to decide how to give away money to important causes all over the world. In 2007, seven cousins of one family established a donor advised fund at Communities Foundation of Oklahoma. With a purpose “to provide an avenue for the cousins to work collaboratively to support charitable organizations as chosen by the group as an exercise in understanding their collective philanthropic goals,” one would assume these are the typical middle‐aged to older donors. Wrong. Try age 33 and under. Each cousin is unique, intelligent, funny, and incredibly philanthropic...but not always for the same causes. While that might be a problem for some families, not this one. They realize that all their philanthropic causes are important in their own right and established a grantmaking system that allowed each of them to educate the others on their focus areas. The process starts with the oldest cousin and annually works its way through the cousins in age order. The “chair” determines the grant focus area and either brings potential grantee information or asks the other cousins to also bring potential grantees to the table. During each Christmas holiday, the cousins meet to first educate the others about the issue and then discuss or debate potential grantees. Since 2008, the anonymous donor advised fund has granted at total of $40,000 to nine very different organizations. Ranging from international organizations such as Compassion International to Oklahoma City charter schools to Kansas City emergency assistance programs, this family sees the importance of all philanthropy. Food, family, fun...and $10,000 in grants. Just a typical holiday season for these young cousins. Gives a whole new meaning to Happy Holidays!
Growing Philanthropy… through technology
Ten years ago, iPad wasn’t even a word. Today, students across Oklahoma can’t imagine their world without it. Technology may have changed in the past ten years but the mission of the Oklahoma Educational Technology Trust hasn’t changed at all. Since 2001, OETT has been providing funds for new technology and professional development in schools across Oklahoma. An initial $30 million gift from AT&T Oklahoma funded the idea of former Oklahoma Attorney General Drew Edmondson and Oklahoma schools haven’t been the same since. Ten years later, OETT has provided more than $12 million in grants to 153 Oklahoma schools with 62,600 students, 4,300 teachers, and 1,800 administrators. Not a small task in just one decade. In the ten years, maybe iPads will seem archaic. No problem, OETT will be there to fund the next big thing...and the next one...and the next one...
2011 Grant Schools
Agra High School Bishop Public Schools
Haskell Middle School, Broken Arrow Spring Creek Elementary, Broken Arrow
Rose Witcher Elementary, El Reno Garber Public Schools Kansas Middle School Keota Public Schools Mangum High School
Mustang Elementary School Central Elementary School, Putnam City
Snyder Elementary School Terral Public Schools Warner Elementary
Yarbrough High School
Photo by alpinestar11303
Growing Philanthropy… in the eye of the storm
Hearing tornado sirens is part of being an Oklahoman. Gathering supplies, turning on the weather radio, and taking cover becomes routine each spring. Some years, tornado alley is quiet; other years, too many communities and lives succumb to the unbelievable forces of the wind. 2011 was one of those years. Oklahomans knew that May 24, 2011 was not going to be a good day. For over a week, the forecasts warned that the risk for tornadoes was at an extreme level. Residents were extra prepared for this day. Businesses closed early, schools opened their doors for local residents to take shelter, and families prepared their homes for the worst. As predicted, the storms fired up first in open country land but they soon took a turn for the Oklahoma City metro area. A day that was forecasted to be bad, quickly became much worse. With a track headed straight for the community of Piedmont, the tornado formed and quickly grew to an EF5 level. In its path, a neighborhood full of people huddled in tornado shelters, closets, hallways and bathtubs. Within seconds, the lives of two small children were taken and over 250 homes were destroyed or damaged. As usual, Oklahomans stepped up to help their neighbors in need. Within days, donations of all kinds, including a gift from Communities Foundation of Oklahoma’s Oklahoma Initiative Fund, were pouring in to Piedmont. With the help of the Piedmont Community Foundation, an affiliate fund at CFO, citizens created the Piedmont Tornado Relief Foundation which, as a fiscal sponsorship fund, raised additional funds for citizens in immediate need. While many people needed immediate help, the Piedmont Community Foundation understood that this would not be the only time citizens would be in need. With its gift from CFO, the Piedmont Community Foundation began the process of creating a general disaster fund for citizens in future need from disasters of all kinds. All Oklahomans know the destructive nature of the weather but they also know the healing hands of fellow citizens. On May 24th, the citizens of Piedmont knew both.
Growing Philanthropy… by easing worry
$15,896. According to the Oklahoma State Regents for Higher Education, that’s the average cost to attend and live on campus at an Oklahoma public research university...for only one year. For ten students in Muskogee, that cost just went down. In 2011, the City of Muskogee Foundation awarded its first scholarships totaling $240,000 to students at Hilldale and Muskogee High Schools. After considering dif‐ferent criteria for the scholarship, the City of Muskogee Foundation Board of Di‐rectors realized students often qualify for hundreds of scholarships their fresh‐man year but then the money falls off beginning the sophomore year. Solution: start awarding the $4,000 scholarship every semester beginning their sophomore year and continue for six semesters. Problem solved and stressful financial aid meetings eliminated. A $24,000 scholarship definitely eases the minds of parents in Muskogee...and clears up a lot of extra cash for late night pizza runs for their students.
City of Muskogee Foundation Scholarship Inaugural Class
Madison Kirk, Taylor McCoy & Joseph Wells Hilldale High School
Kirsten Baker, Janny Gandhi, Nguyen Le, Lauren Rosson, John Singler, Hoang Truong, &
Melanie Walker Muskogee High School
Types of Funds Designated Endowment Funds Agency Endowment Funds Fiscal Sponsorship Funds Donor Advised Funds Scholarship Funds Field of Interest Funds Unrestricted Funds Escrow Funds
established by a donor(s) to provide permanent endowment for a specific nonprofit or charitable activity created by a nonprofit organization to provide permanent endowment for its projects, needs and activities created for a specific project or purpose as a short‐term fund and may be used if no 501(c)3 exists for an organization created when a donor would prefer more input into annual distributions and would like to distribute funds to any number of charitable concerns each year designated for awarding scholarship dollars to students selected by a committee representing fund advisors or the Communities Foundation of Oklahoma’s Grant Committee allows donors to target gifts to causes important to them through grants in their specific interest area addresses a broad range of current and future needs across the state as determined by Communities Foundation of Oklahoma established when a donor wishes to place funds with Communities Foundation of Oklahoma without immediately designating a specific charity or purpose
GROWING THROUGH INVESTMENTS IN COMMUNITIES
By offering several types of funds, Communities Foundation of Oklahoma gives donors many options on how to give back to the communities, causes and organizations important to them.
LEADERSHIP Advisory Board of Governors
Ed Apple, Duncan Steve Beebe, Duncan Ron Beer, Stillwater Malinda Berry Fischer, Stillwater Lou Christian, Blanchard Julie Cohen, Norman Terrence Cooksey, Duncan Richard Dixon, Duncan Nancy Ford, Shawnee Mary Beth Glass, Newkirk Terry Graham, Cherokee Lou Hall, Pauls Valley Jean Harbison, Lawton Joe Anna Hibler, Weatherford Jim Howard, Tahlequah Sandy Ingraham, McLoud Hilary Kitz, Tulsa Craig Knutson, Norman Jodi Lewis, Oklahoma City Tom McCasland, Jr., Dallas James Menzer, Blackwell Melvin Moran, Seminole Marilyn Murrell, Arcadia Dr. Donnie Nero, Warner Susan Paddack, Ada Ann Powell, Norman H.E. ‘Gene’ Rainbolt, Oklahoma City Connie Reilly, Okemah Larry Roberts, Miami Jim Rodgers, Blackwell Claudia San Pedro, Oklahoma City Wes Stucky, Ardmore Pam Treadwell, Muskogee Arlen Williams, Pauls Valley
Officers
Richard Ratcliffe, Weatherford Chair April Stobbe, Shawnee Vice-Chair Leslie Rainbolt-Forbes, Oklahoma City Secretary Jimmy Cooper, Duncan Treasurer
Trustees
Bill Burgess, Lawton Laurie Fuller, Muskogee Mary Marks Jenkins, Oklahoma City Monica McCasland, Duncan Richard Ryerson, Alva
Committee Volunteers
Melinda Barton Lou Christian Kathie Coyle Jim Howard Don Sickles Jon Trudgeon Jayna Vaughn Arlen Williams
Women’s Foundation of Oklahoma Advisory Board
Kathie Coyle, Tulsa Chair Rita Aragon, Maj. Gen. (ret.), Edmond Merle Chambers, Denver, CO Jackie Duncan, Weatherford Deena Fisher, Woodward Melinda Johnson, Oklahoma City Anne Morgan, Norman Sharon Neuwald, Oklahoma City Jeretta Horn Nord, Stillwater Gentra Sorem, Tulsa
Oklahoma Educational Technology Trust Trustees
Steven Crawford Chair Phil Berkenbile Dan Hattaway State Senator Clark Jolley State Representative Sally Kern Jeff Mills Lela Odom Lloyd Snow Bob Stafford
Management Team ~ Foundation Management, Inc.
Frank W. Merrick President Susan R. Graves CFO Executive Director Sherrie Schroeder, CPA Chief Financial Officer Amy Klinge Advancement Director Lauren Garey Scholarship Coordinator Lynsie Laughlin Grants Administrator Cheyenne Secrist Administrative Assistant Julia McCorkle Financial Assistant Kari Koster Executive Assistant
FINANCIALS
2011 2010
ASSETS
Cash & Cash Equivalents $ 3,750,899 $ 5,812,853
Contributions Receivable, net 1,723,751 649,869
Investments 39,064,302 30,198,269
Prepaid Expenses 6,331 ‐
TOTAL ASSETS $ 44,545,283 $ 36,660,991
LIABILITIES & NET ASSETS
Accounts Payable $ 57,722 $ 53,042
Grants Payable, net 2,877,931 1,619,939
Agency Transfers 20,249,558 16,974,418
TOTAL LIABILITIES 23,185,211 18,647,399
NET ASSETS
Unrestricted 21,360,072 18,013,592
TOTAL LIABILITIES & NET ASSETS $ 44,545,283 $ 26,660,991
June 30
Statements have been audited by Cole & Reed, P.C. Complete audit report, Form 990, and IRS tax exemption documents may be downloaded at www.cfok.org.
Statements of Financial Position
Grants & Distributions as of June 30, 2011
Assets by Fund Type as of June 30, 2011
$203,150 $30,716 $272,624
$136,350
$791,348
$1,605,070
$779,087
$398,918
$81,631
$32,828 $6,903,487
Animal Welfare Art, Culture & Humanities Children & Youth
Community & Public Affairs Education & Scholarships Environment
Faith Based Health Human Services
Other Women
$22,512,330
$4,721,327
$472,051
$4,669,028
$2,279,499
$4,143,638 $1,367,630
$988,522
Community Funds Designated Donor Advised Escrow
Field of Interest Fiscal Sponsorship Scholarship Unrestricted
1%
82%
3%7% 5% 2%
Large Cap Small Cap
International Fixed Income
Small‐Cap Value Other
Trailing 12 Months 3‐Year (Annualized) 5‐Year (Annualized)
Portfolio 18.9% 5.7% 4.2%
Benchmark: S&P 500 Index/BC Int. Agency (rebalanced monthly)
17.4% 4.6% 4.6%
Additional information on individual investment managers, portfolio performance on individual investment pools, and investment fees are available upon request.
Investment Pools as of June 30, 2011
Current Allocations
Balanced Pool
14%6%
40%
3%
37%
Conservative Pool
3%
71%
2%7%
17%
Growth Pool
49%
19%
8%
20%4%
Aggressive Pool
56%28%
14% 1% 1%
Performance — Balanced Pool
To learn how you can help grow philanthropy in your community, visit the
Communities Foundation of Oklahoma’s website @ www.cfok.org.
2932 N.W. 122nd, Suite D • Oklahoma City, Oklahoma • 73120 405.488.1450 • 877.689.7726 toll-free • 405.755.0938 fax
www.cfok.org
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