FFTC Community Initiatives

Transcription

1 FFTC Community Initiatives Presented to Senior Scholars at Queens Friday, September 15,

2 Americans are not generous because they are wealthy. Americans are wealthy because they are generous. Claire Guidiani Adjunct Professor of Philanthropy New York University 2

3 Never more evident than the aftermath of Hurricanes Harvey and Irma 3

4 It s In Our Faith Traditions & In Our Political DNA The free institutions which the inhabitants of the United States possess, and the political rights of which they make so much use, remind every citizen, and in a thousand ways, that he or she lives in society, that every instant impresses upon his or her mind that it is the duty as well the interest of men and women to make themselves useful to their fellow creatures. Alex de Tocqueville French political philosopher 4

5 2016 contributions: $390.05billion by source (in billionsofdollars all figuresare rounded) 5 Giving USA,

6 2016 contributions: $390.05billion by type ofrecipient organization (in billionsofdollars all figuresare rounded) 6 Giving USA,

7 2016 contributions: $390.05billion by source (in billionsofdollars all figuresare rounded) 7 Giving USA,

8 Three Types of American Foundations Private Foundations Corporate Foundations Public Foundation commonly called Community Foundations 8

9 Our Mission Statement Foundation For The Carolinas inspires philanthropy and empowers individuals to create a better community 9

10 FFTC: Our Place in the Community Make philanthropy a core element of our community s DNA Use relationship building to maximize the charitable pipeline Protect and sustain the commitment to the public good Bolster our donors potential for helping others Forge legacies of giving among future generations Convene partners and lead civic initiatives 10

11 Are We Misnamed???? Not A Foundation For All Of Two States... North Carolina Cabarrus County Community Foundation Charlotte-Mecklenburg Community Foundation Cleveland County Community Foundation Cole Foundation in Richmond County Iredell County Community Foundation Lexington Area Community Foundation Lincoln County Community Foundation Salisbury Community Foundation Stanly County Community Foundation Union County Community Foundation South Carolina Cherokee County Community Foundation Lancaster County Community Foundation York County Community Foundation 11

12 From Modest Beginnings... At Last, A Firm Foundation The Charlotte Observer $3,000 in

13 To Explosive Growth $1 billion From our first million to our first billion! 1976 $1 million 13

14 The Generosity Keeps On...Keeping On!!! Assets $1.0 billion $1.3 billion 2013 $1.7 billion 2014 $1.8 billion 2015 $2.1 billion

15 From Generous Donors... Contributions $248 million $288 million $628 million $452 million $498 million 20% $97 million Gifts of Business Interests

16 Grants to Worthy Causes $342 million $284 million $312 million $158 million $180 million

17 Important to Note: Of the $312 Million in grant awards distributed by FFTC in 2016 approximately 95% were from donor fundholders and not at the discretion of the FFTC Board. 17

18 Keeping Up With The Jones... #6 out of 800 Community Foundations in the U.S. 1. Silicon Valley Community Foundation 3. The Chicago Community Trust 4. The New York Community Trust 6. Foundation For The Carolinas 11. The San Francisco Foundation 12. The Pittsburgh Foundation 15. The Boston Foundation 18

19 Punching Above Our Weight... Risen from #32 in 2000 to #6 in th largest in U.S. by assets (of 800+ U.S. community foundations) Historically Top 5 in U.S. in annual GIFTS to funds Historically Top 5 in U.S. in annual GRANTS distributed to public charities Materials are personal and confidential 19 19

20 Charlotte $2.1 billion in assets vs. Atlanta $917 million in assets 20

21 Planned Giving Expectancies $635 million $363 million

22 A Lean Machine... Operating Benchmarks - $12 M Annual Budget 1. Expenses are < 10% of contributions Result: 2.8% 2. Expenses are < 10% of grants Result: 4.1% 3. Expenses are < 1% of assets Result: 0.59% 22

23 FFTC Centers for Giving Center for Personal Philanthropy Expertise in structuring charitable gifts Planned giving and succession planning Customized philanthropic services Center for Nonprofit Sustainability Comprehensive endowment management Cost effective, custom investment solutions Planned giving, legal & financial expertise Center for Corporate Philanthropy Supports charitable goals of local businesses Cost effective solutions for charitable giving Innovative charitable programs Robinson Center for Civic Leadership Addresses the region s most pressing challenges Common ground for thought leadership Test lab for community problem-solving 23

24 FFTC Centers for Giving Center for Personal Philanthropy Expertise in structuring charitable gifts Planned giving and succession planning Customized philanthropic services Center for Nonprofit Sustainability Comprehensive endowment management Cost effective, custom investment solutions Planned giving, legal & financial expertise Center for Corporate Philanthropy Supports charitable goals of local businesses Cost effective solutions for charitable giving Innovative charitable programs Robinson Center for Civic Leadership Addresses the region s most pressing challenges Common ground for thought leadership Test lab for community problem-solving 24

25 Approximately 3000 Charitable Funds 25

26 Assets by Centers ($2.1 billion) 26

27 Foundation For a Healthy Carolina Local acute care hospital acquired by large healthcare operator Contacted by legal counsel associated with merger Exploring what to do with significant cash reserves from merger Creation of $20M fund for regional healthcare grantmaking 27

28 CMS Foundation Creates independent fundraising arm for CMS Originally established in 2004 but dormant for last ~ decade Type 1 Supporting Organization of CMS and FFTC FFTC provides fund management, endowment and fundraising support CMS Foundation staff focuses on programs & direct fundraising 28

29 Howard R. Levine Foundation Gift of 600,000 shares of Family Dollar to Donor Advised Fund $45 million Extraordinary gift creates substantial philanthropic pipeline for community Howard and wife Julie supporting a range of education & human service organizations 29

30 Business Interest Gifts of Local Tech Companies Gift of private stock in AvidXChange by early investor B2B payment technology software FFTC holding private stock in Community Investments Foundation Multiple liquidation events have occurred Including groundbreaking partnership with MasterCard Donor has since made a second gift of stock Proceeds directed to donor advised fund for couple s grantmaking 30

31 Jane & Katherine McKay s Planned Gift Sisters, from Laurinburg NC Lived modest, Christian lives Retired school teacher and librarian in Eastern NC Planned gifts documented in Fall 2016 Both passed away in late 2016 FFTC now holds endowed funds ~ $9M Endowed scholarship fund Endowed grantmaking fund for areas important to them 31

32 Katie Tyler s Planned Gift Female business owner, Tyler 2 Construction Passionate animal advocate Serves on FFTC advisory committee for animal welfare grantmaking Significant estate gift to support future needs of regional animals and pet owners 32

33 FFTC Centers for Giving Center for Personal Philanthropy Expertise in structuring charitable gifts Planned giving and succession planning Customized philanthropic services Center for Nonprofit Sustainability Comprehensive endowment management Cost effective, custom investment solutions Planned giving, legal & financial expertise Center for Corporate Philanthropy Supports charitable goals of local businesses Cost effective solutions for charitable giving Innovative charitable programs Robinson Center for Civic Leadership Addresses the region s most pressing challenges Common ground for thought leadership Test lab for community problem-solving 33

34 Civic Engagement and Flagship Initiatives 34

35 Active Civic Leadership Initiatives 35

36 Every dollar invested leverages $38 more Program FFTC/Civic Leadership Investment Leverage Affordable Housing 1,000,000 19,100,000 Carolina Thread Trail 2,300,000 45,500,000 CMS Task Force 50,000 1,000,000 Community Catalyst Fund 955,500 4,125,000 Critical Needs Response Fund 154,000 6,700,000 Crossroads Charlotte 1,700,000 4,300,000 Cultural Facilities 1,107, ,000,000 North Tryon Vision Plan 100, ,000 Opportunity Task Force 125, ,000 Project LIFT 2,020,000 55,000,000 Returning Veterans 105,000 1,000,000 Thoughtbox 75, ,000 TreesCharlotte 45, ,000 United Agenda for Children 50,000 3,000,000 Total $9,786,500 $373,325,500 36

37 Mission Accomplished, Moving On CMS Task Force Successfully restructured CMS Magnet and Administration Community Catalyst Fund restructured non profits in Recession Critical Needs Response Fund Supporting families in need during Recession Crossroads Charlotte 10 years of building social capital Cultural Campus Levine Center for Arts is thriving United Agenda for Children Report issued, minimal results 37

38 Active Civic Leadership Initiatives Affordable Housing: Raised $19.1 million for rental subsidies Carolina Thread Trail: 1500 miles designed, 250 built North Tryon Vision Plan: Report published, Oversight Committee appointed Project LIFT: West Charlotte graduation rates rise from 51% to 88% Restoring Veterans: Bridge Home created and staffed Read Charlotte: Report published, fully staffed 38

39 Today: Focus on Two Civic Leadership Initiatives Economic Opportunity and Upward Mobility Carolina Theatre 39

40 Today: Focus on Two Civic Leadership Initiatives Economic Opportunity and Upward Mobility Carolina Theatre 40

41 Charlotte-Mecklenburg Nationally Recognized No. 6 Fastest Growing Economies Sept Wallethub.com of 260 large cities No. 14 Best Places for Business and Careers July 2015 Forbes Best Cities for Jobs No. 13 Fastest Growing Cities March 2016 Forbes list of 100 metro areas No. 7 Best Environments for Families March 2016 Apartment List of 30 metro areas No. 15 Best Places to Live March 2016 U.S. News and World Report of 20 cities No. 8 Top Cities Most Loved by Millennials April 2016 Mayflower of 10 cities No. 8 Best Big Cities for Jobs March 2016 Forbes list of 15 metro areas No. 7 Best City to Start a Business May 2016 Wallethub.com of 150 large cities 41

42 The Map That Started It All The Chetty Study The Harvard/UC Berkeley study ranked Charlotte 50 th of 50 cities and Mecklenburg County 99 th of 100 counties 42

43 Task Force Members Dr. Ophelia Garmon-Brown (Co-Chair) Ms. Crandall Bowles Mr. Jeffrey A. Conway Dr. Michael Friedland Dr. Tisha Greene Ms. Grazell Howard Ms. Marianne Lyall-Knusel Rev. Clifford Matthews Ms. Symone McGee Mr. Andrew Plepler Mr. Dee O Dell (Co-Chair) Dr. David Chadwick Mr. Esteban Echeverria Mr. Dale Gillmore Mr. Alvaro Gurdián Jr. Mr. Ron Leeper Mr. Matt Martin Ms. Felicia McAdoo Mr. Barry Sherman Dr. Ricky Woods 43

44 Five factors most predictive of upward mobility 44

45 Our process We challenged conventional wisdom We challenged ourselves and each other We navigated points of disagreement 45

46 We agreed on the ultimate goal: Young people regardless of race or zip code feel they belong, have big dreams, and find the opportunities to achieve those dreams. 46

47 But to see success as a young adult, we needed to look at the earliest years and work forward 47

48 From: Cradle to Career To: Prenatal to Career Prenatal support & decisions Birth Kindergarten 3 rd grade 8 th grade 12 th grade College - Career 48 Original graphic:

49 The heart of the issue Charlotte Mecklenburg is a place of opportunity for many. But, often we don t live, learn, work or worship together. We aren t seeing each other. We aren t facing what keeps us separate. We don t see disparities. 49

50 We are segregated by race. 50

51 We are segregated by income. 51

52 Opportunity System Strategy 52

53 Inhibits mobility Enhances mobility 53

54 Cross-cutting factor: Segregation 2 Strategies 12 Recommendations 12 Tactics 54

55 Key Issues Char-Meck s unique segregation pattern Grounded in intentional decisions Commuting patterns mask reality Infiltrates all areas: schools, housing, food, transportation, digital access, etc. 55

56 Selected Recommendations Encourages new strategies for mixed income housing Increased private sector support for rental subsidies De-concentration of high-poverty schools Overhaul of transportation routes Ensure digital access, devices & literacy Expanded use of racial equity lens 56

57 Determinant One: Early Care & Education 3 Strategies 20 Recommendations 26 Tactics 57

58 Key issues THE priority determinant: ROI clear Child care waitlist of 3,000+ Annual cost avg. $9-11K per child/per year Workforce highly transient & underpaid Families often lack understanding of importance 58

59 Selected Recommendations Support parents as first teacher Goal of universal access to care age birth to 5 Strengthen early childhood workforce Look at pay & professional development Brain development awareness campaign Expand Read Charlotte systems approach 59

60 Selected Recommendations Support parents as first teacher Example Support CELC funded work group First step: eliminate the ~3,000 child wait list Identifies financing options including sales & property taxes Goal: Universal access to care age birth to 5 Strengthen early childhood workforce Look at pay & professional development Brain development awareness campaign Expand Read Charlotte systems approach 60

61 Determinant Two: Family & Child Stability 9 Strategies 31 Recommendations 48 Tactics 61

62 Key issues Research supports stable households & delayed pregnancy Families in poverty challenged to balance work, children, housing, other basic needs 34k unit shortage of affordable housing Cumulative impact leads to toxic stress 62

63 Selected Recommendations Identifies strategies to aggressively address lack of affordable housing Increase access to mental health services Educate on benefits of two parents & delaying pregnancy; provide access to effective methods Create pathways to living wages 63

64 Selected Recommendations Identifies strategies to aggressively address lack of affordable housing Increase access to mental health services Educate on benefits of two parents & delaying pregnancy; provide access to effective methods Create pathways to living wages Example Increase bond referendum from $15M to up to $50M every two years Prioritize housing when disposing of public property Create a private investment fund Convene developers to explore options such as tax abatement, overlay districts, etc. 64

65 Selected Recommendations Identifies new strategies to aggressively address lack of affordable housing Increase access to mental health services Educate on benefits of two parents & delaying pregnancy; provide access to effective methods Create pathways to living wages Family Formation & Structure Young adults need information regarding importance Access to information regarding planning Ability to afford the methods they choose 65

66 Determinant Three: College & Career Readiness 6 Strategies 23 Recommendations 38 Tactics 66

67 Key Issues Disconnect between employer needs & K-12 curriculum/understanding/skills Historically, not a priority for Chamber or Regional Partnership Business sector concerns about CMS capacity to scale Lack of career pathways information Negative stigma of vocational education & certifications Lack of counselors + inadequate understanding of college/career information Importance of understanding alternatives to traditional four year college path Real + perceived barriers to attending & completing college 67

68 Selected Recommendations Ensure ALL students have access to a range of career & college pathway opportunities Expand/improve career academies Provide funding for student certifications Partner with businesses/chamber to raise awareness Increase # of students in college prep courses Improve student/parent information & guidance Early exposure to college & career options Increase number & quality of counselors Leverage nonprofit & business resources Expand support for 1 st gen & low income college students 68

69 Selected Recommendations Ensure ALL students have access to a range of career & college pathway opportunities Expand/improve career academies Provide funding for student certifications Partner with businesses/chamber to raise awareness Increase # of students in college prep courses Improve student/parent information & guidance: Early exposure to college & career options Increase number & quality of counselors Leverage nonprofit & business resources Expand support for 1 st gen & low income college students Example Build CMS & business partnership to increase workplace based learning capacity: 1,000 slots by ,000 by 2020 Ultimate goal: 10K+ 69

70 Cross-cutting: Social Capital 1 Strategy 5 Recommendations 6 Tactics 70

71 Key issues Networks & relationships have economic value Lack of strong/diverse connections undermines other efforts Helps transform dreams to tangible pathways Students: We want Life Navigators Many in the community: We want to feel respected and valued 71

72 Selected Recommendations Implement life navigator concept starting no later than 7 th grade Develop volunteer army to connect children/families Tangibly demonstrate a culture of caring Encourage use of economic opportunity lens for key decisions & investments 72

73 Report Applies to All Sectors Business: Hiring practices, HR policies, community partnerships, volunteers, strategic philanthropy Faith: Call to action, encourage authentic dialogue, avoiding toxic charity, review outreach programs Philanthropy: Increase collaborations, direct $ s to highest human gain, help nonprofits with evaluation Public sector: Be courageous, collaborate across elected bodies, consider opportunity when making decisions Nonprofits: Evaluate effectiveness, engage with clients, board members hold agency accountable Individuals: Expand networks, think about the small sacrifices that might improve the community, enroll in programs to educate yourself 73

74 If every house of faith, elected official, civic group, employer, foundation, institution or organization asked this one simple question before making significant decisions How will this decision impact the opportunity trajectory of our children, youth and families? the actions taken as a result would tangibly impact all children, youth, and families. 74

75 Early Examples 75

76 Implementation: Moving from the Report to Action Change unlikely without funding & professional infrastructure o Serves as central nervous system for opportunity Report calls for creation of new private/public partnership Recruits diverse leadership & engages community Advocates for system & policy changes Establishes metrics & goals Initial staffing & support provided by FFTC Community helps inform permanent home for the work 76

77 It is our hope that with collective focus and accountability, Charlotte-Mecklenburg will transform through the experience of doing this work together, and we will earn a new reputation as a community that is Leading on Opportunity 77

78 Today: Focus on Two Civic Leadership Initiatives Economic Opportunity and Upward Mobility Carolina Theatre 78

79 History of Carolina Theatre 79

80 Original Facades (circa 1938) 80

81 The Carolina Theatre One of our few remaining historic gems Opened in 1927; originally seated 1,450 Largest theatre in southeast US for decades Home to vaudeville and silent movies Primarily a movie house (first with manufactured weather ) 81

82 A Walk Down Memory Lane A Kiss in a Taxi", a love story, first movie shown in 1927 Featured performances included: Charlotte Symphony debut (1932) Gone With the Wind (1940) Ethel Barrymore live performance of The Corn is Green (1943) Elvis, who d just released his first album, Love Me Tender (1956) Live performances included Stewart, Hope & Hepburn (1950 s & 1960 s) The Sound of Music opened to a 79-week run (1965) Over 398,000 saw the movie 82 Charlotte s population 238,000

83 The Carolina Theatre Began to suffer economically in the late 60s and early 70s Live performance became too expensive Modern movie theatres became predominate Business model no longer worked Officially closed doors in 1978 Endured through fires, floods and deconstruction Tattered and torn; but magic remains 83

84 84 84

85 Carolina Theatre Today 85

86 Cleveland s Ohio Theatre (Before) 86

87 Cleveland s Ohio Theatre (After) 87

88 San Diego s Balboa Theatre (Before) 88

89 San Diego s Balboa Theatre (After) 89

90 Palace Theatre in Cleveland, OH 90

91 Tennessee Theatre in Knoxville, TN 91

92 Carolina Theatre By The Numbers Historic Theatre 28,024 sq. ft. New Construction 43,017 sq. ft. Tryon Street Lobby Lower Level Lounge Bathrooms Concessionary/Catering Areas Total Project Costs $51.5 million Raised $50.1 million to date $1.4 million left to meet our fundraising target 92

93 Carolina Theatre Project Costs $51.5 million Gifts/Grants to date: $50.1 million Belk Families $8.0 million Bank of America $5.0 million City of Charlotte $4.5 million Mecklenburg County $4.3 million Duke Energy $3.0 million Hotel Air Lease $3.0 million Knight Foundation $2.15 million Wells Fargo $2.0 million Select Gifts Anonymous $1.0 million Dickson Foundation $1.0 million Dowd Family Foundation $1.0 million Julie and Howard Levine $1.0 million Robert Haywood Morrison Foundation $1.0 million 93

94 Original Facade (1998) 94

95 Original Façade (dismantled and stored under stage) 95

96 Historic Façade Wrapped In New Lobby 96

97 Interior Of New Lobby With Old Facade 97

98 Aerial View Of Hotel Above Carolina Theatre 98

99 On Street View Of Hotel Above Carolina Theatre 99

100 Hotel Project on Top of Theatre InterContinental Hotel Room count now at 270 Hotel budget appears to be in alignment Spending $350,000 per key Total project: $94,500,

101 Carolina Theatre Project 101

102 Project Economics Theatre & FFTC Offices Hotel Total Capital Investment $ 51.5 million $ 94.5 million $146.0 million Public Sector Investment* $12.4 million Every dollar invested leveraged $11.77 private sector Annual tax revenue: $4 million Hotel/Motel tax: $1.2 million *Includes $4.2 million County investment, $4.5 million City investment & $3.7 million land contribution from City 102

103 Carolina Theatre Programming Civic Engagement Offerings Aligned with FFTC s mission Subsidized by the Foundation Town Hall Meetings Panel Discussions Community Dialogues & Debates Symposiums TED Talks National Speaker Series Free offerings, open to community 103

104 Carolina Theatre Programming Partner Programming Discovery Place Gantt Center Public Library City of Charlotte Charlotte Center City Partners Johnson C. Smith University U.S. National Whitewater Center Opportunity for some of this programming to be open to public 104

105 Carolina Theatre Programming Arts and Entertainment Opportunities Film Jazz Trios Comedians Small Bands Solo Artists Chamber Music 105

106 Carolina Theatre Programming Unexpected Offerings Duke versus Carolina basketball Gospel Choir with Sunday brunch Saturday morning cartoons Blood drive & Dracula Saturday Night Fever & Disco High School Battle of the Bands 106

107 General Project Timeframe Project Component Months Timeframe Preconstruction 5 months June Oct 17 Carolina Theatre 16 months Nov 17 Mar 19 Hotel 20 months Nov 17 June