IN THIS ISSUE
FOUNDATION NEWS
A Message from our President & CEO
2020 Annual Report
CFAAC Staff Transition Announcement
Celebration of Philanthropy Award Nominations Now Open
MAKING A DIFFERENCE
Long-time Board Member Greg Strott Reflects on CFAAC's Growth
Fundholders Investment Briefing
How Can Planned Giving Benefit your Family
COMMUNITY IMPACT
CFAAC Awards $192,000 in Fund for Anne Arundel Grants
Fund for Anne Arundel Challenge Grant
Community Impact Speaker Series was a Success
STRENGTHENING NONPROFITS
Women and Girls Fund and Environment Anne Arundel Fund Update
NEWS FOR PROFESSIONAL ADVISORS
IRAs, Field of Interest Funds, and Designated Funds: Don't overlook these powerful tools
Charities and Cryptocurrency: Gifts are on the Rise
FOUNDATION NEWS
A Message from our President & CEO
Opportunities to help others exist all around us. And that help can change lives. This summer, CFAAC is continuing to take a leadership role in our county not only by offering programs to help keep our community informed but also by providing much-needed grants to support worthy nonprofits.
Our most recent grants from CFAAC’s Fund for Anne Arundel (FFAA) went to four nonprofits that are changing the lives of Anne Arundel County children. CFAAC’s FFAA review committee worked tirelessly to review dozens of impressive applications before selecting the final four grant recipients, each provides opportunities for children living in the County to be healthy, thriving, and successful. In total, CFAAC’s FFAA granted $192,000 – congratulations! You can read more about these outstanding recipients as well as our FFAA Matching Gift Challenge in this newsletter.
We held our second Becoming a Trauma-Informed County webinar with Dr. Pamela Brown on May 24. More than 65 people attended the online presentation to learn about how our community can work together to understand, address, and prevent neighborhood trauma. As usual, Dr. Brown’s presentation was extremely enlightening.
On June 9 and 10, Community Conversations are being conducted and virtual site visits will be held by the Robert Wood Johnson National Culture of Health Prize award review committee. Anne Arundel County and CFAAC partnered together to apply for this coveted national prize and are thrilled to be among the finalists. We are very excited to be part of this prestigious honor and I look forward to sharing more about this news in the coming months.
CFAAC’s Investment Briefing Webinar will be held on June 15. It’s a great way for our fundholders to stay informed about CFAAC's fiduciary responsibilities to grow assets while supporting our community.
Finally, I am extremely happy and proud to present the 2020 annual report, which can be viewed via this newsletter and on our website. A print version will be available within the month. As you read through this report, I’m sure you will be delighted at the progress we made in 2020. It just goes to show that CFAAC is always here for our community, and we need your continued support. Please consider making a gift securely online here to CFAAC’s Community Leadership Annual Campaign so we can continue our work to improve the quality of life for all citizens in Anne Arundel County.
Until next time,
Mary Spencer
President & CEO
2020 Annual Report
In this report, you will find that CFAAC exceeded our strategic goal of $20 million in assets by 2020 as we continued to build a permanent base of philanthropic dollars to secure our future in the community. We provided more funding than ever this year, even though we faced a global pandemic, distributing 831 grants totaling nearly $5 million. We also added new staff, moved to a new office, opened 18 new funds, and reached more donors.
Please review all of our accomplishments in 2020. Click to view the electronic copy here to view as a PDF click here.
CFAAC Staff Transition Announcement
In a few short weeks, we must bid farewell to Kristen Krall, CFAAC’s Grants & Scholarships Manager, who joined our team in January of 2019. Throughout her time with CFAAC, Kristen skillfully managed our grant and scholarship programs, working with donors to facilitate their grantmaking, ensuring the nonprofits receiving the grants were carefully vetted, and acting as a liaison for our scholarship committees and recipients. Kristen will be transitioning her role from CFAAC by joining Chaney Enterprises, where she will serve as their new Chaney Cares Director as the company reorganizes its philanthropic work in the community.
A longtime partner and donor to CFAAC, Chaney Enterprises has been and will continue to be, an important part of CFAAC’s family of funds. We wish Kristen well as she assumes her new role. Kristen brought a great deal of professionalism and kindness to her work with CFAAC. Her willingness to serve as a positive and supportive resource to hundreds of local nonprofit colleagues and donors over the years has been truly remarkable. We will miss her tremendously.
As we say goodbye to Kristen, we are excited to welcome Rosalind Calvin to the CFAAC team in July. With more than 35 years of experience in both the business and nonprofit worlds, Rosalind will bring an extensive, well-rounded skill set to the Grants & Scholarships Manager position. Read more.
Celebration of Philanthropy Award Nominations Now Open
Do you have someone you would like to thank for making a difference in Anne Arundel County?
Nominate them for a 2021 Celebration of Philanthropy Award!
On November 05, 2021, CFAAC's Celebration of Philanthropy Awards will highlight and honor eight generous and committed community members that represent the depth and breadth of philanthropy in Anne Arundel County, If you know an individual, family, or business making an impact on our community by donating their time, talent, or financial resources, consider nominating them for a 2021 Celebration of Philanthropy Award.
If you have questions, need assistance, or want to discuss your nomination, call Amy Francis at 410.280.1102 ext. 102.
Click here to view the 2021 categories and to download a nomination form. Nominations must be received by C.O.B Friday, July 23. Email completed nomination forms, written statements, and supporting documents to amy@cfaac.org.
MAKING A DIFFERENCE
Long-time Board Member Greg Strott Reflects on CFAAC's Growth
Greg Strott finds the most rewarding aspect of philanthropy is knowing that he and his wife, Trish, were able to help someone. It’s a big reason why he has been involved with CFAAC for most of its 23 years.
“I’ve been successful in life and it’s nice to be able to help people,” he said. “Just knowing that someone benefitted from our gift – whether it be a person or an organization – is rewarding.”
When Greg joined the Board in 1999, CFAAC was an idea that needed nurturing and funding. “The late Carol Thompson was the driver back then and she had a vision that the Community Foundation was something that Anne Arundel County needed,” he said. “She came from a thriving community foundation in New England and knew what one could do. So, we followed her vision.”
That was 22 years ago, and while times were tough and finances were tight back then, Greg and Trish had confidence in CFAAC – so much so that they established the organization’s first Donor Advised Fund. Read more.
Join us for a Fundholder Investment Briefing Webinar
Join CFAAC for an Investment Briefing Webinar presented by CFAAC’s investment manager Mason Advisor Services, Inc. The online presentation will be held on June 15 from 12 pm to 1 pm. It’s a great way for fundholders to stay informed about CFAAC's fiduciary responsibilities to grow assets while supporting our community. Find out about the current state of the market, how investments are faring, and CFAAC investment strategies. This program is for CFAAC fundholders only. Please contact amy@cfaac.org if you are interested in attending.
How Can Planned Giving Benefit your Family?
When making a bequest, many people think that they are obligated to leave their entire estate to their heirs. When in fact, depending on tax laws, charitable bequests can reduce (or even eliminate) the amount of estate tax your beneficiaries will owe.
The next time you meet with your professional advisor and/or estate attorney, ask them how planned giving can benefit your successors. Their answers may surprise you because not all assets are treated equally when inherited. Read more.
COMMUNITY IMPACT
CFAAC Awards $192,000 in Grants to Four Local Nonprofits Making a Difference for Anne Arundel County’s Children
CFAAC recently awarded a total of $192,000 Fund for Anne Arundel (FFAA) grants to four Anne Arundel County organizations that are doing their part to help improve the physical, mental, and behavioral health of our county’s children. There are tremendous unmet health needs in Anne Arundel County, and these grants will aid nonprofits that are working to close the gap of inequities that exist in the county.
“Many children in Anne Arundel County still struggle with basic healthcare needs and the pandemic heightened the deeper trends of inequality in the forms of less access to physical, mental, and behavioral health programs; healthy foods; and family support” said CFAAC President and CEO Mary Spencer. “These grants will provide financial resources to four worthy nonprofits that serve Anne Arundel County children, so they can continue programs or launch new initiatives that prioritize the health of children and families. The grants will also help to ensure equitable access to comprehensive primary health care services for children; promote an understanding of and treatment for improved mental health; support families in accessing healthy food; and encourage regular preventative health, developmental, and behavioral screenings.”
The most recent FFAA grant recipients are Kingdom Kare, Inc. for the continued support of its West County Support Center, YWCA of Annapolis and Anne Arundel County for its Healthy Relationships and Mental Health for Youth Initiative, Arundel Lodge Inc. and Charting Careers for its Partnership to Increase Health for Families Living in Annapolis Public or Subsidized Housing, and Owensville Primary Care d/b/a Bay Community Health for a new healthcare facility in Lothian. Read more here.
Fund for Anne Arundel Challenge Grant – Help Us Exceed our Goal!
Right now, all of us have a special opportunity to help Anne Arundel County children. Last month, we announced that two CFAAC funds, the Crosby Foundation, and the Peterman Ponatoski Family Foundation are each contributing $25,000 to CFAAC’s Fund for Anne Arundel (FFAA) to kick off a matching gift challenge. Our goal is to raise an additional $50,000 to meet or exceed $100,000 in new funds to support Fund for Anne Arundel. We need your help!
Gifts will be matched dollar-for-dollar up to $50,000 by the Crosby Foundation, and the Peterman Ponatoski Family Foundation to help raise $100,000 and increase the amount of funding that the foundation has available to strategically align its grantmaking with the most critical needs in the county.
The Fund for Anne Arundel continues to focus on healthy, thriving, successful children, by awarding grants to programs that address the needs of Anne Arundel County children and families. Join us in this challenge and make an impact on our community’s future!
CFAAC’s Community Impact Speaker Series Summary: A Framework for Understanding, Addressing, and Preventing Neighborhood Trauma Webinar
CFAAC continues to deliver meaningful presentations to increase awareness and provide insight into the key issues impacting Anne Arundel County. During our latest webinar, which took place on May 24, Dr. Pamela Brown provided a framework on understanding, focusing on, and averting neighborhood trauma. Neighborhood or collective trauma is the result of economic, political, social, and racial isolation. Dr. Brown outlined the three spheres of community – the people, the place, and equitable opportunity; how Adverse Childhood Experiences (ACEs) were exacerbated by the COVID-19 pandemic; and how certain populations are disproportionately affected. Dr. Brown also introduced comprehensive strategies to deal with and prevent community trauma. The webinar is part of a year long CFAAC Community Impact Speaker’s Series on Becoming a Trauma Informed County. You can find the recording of Dr. Brown’s presentation here.
STRENGTHENING NONPROFITS
Women and Girls Fund and Environment Anne Arundel Fund Update
The Women and Girls Fund and Environment Anne Arundel grant programs will not open on July 1. Updated application dates will be determined and communicated directly via email, website, and social media.
NEWS FOR PROFESSIONAL ADVISORS
IRAs, Field of Interest Funds, and Designated Funds: Don't overlook these powerful tools
Designated funds and Field of Interest Funds may not always be top of mind when you are developing philanthropy plans for your clients and their families, but they are extremely valuable tools in certain circumstances and it’s important to be aware of what the terms mean. A Field of Interest Fund at the Community Foundation of Anne Arundel County is established by your client for a charitable purpose described by your client.
A Designated Fund at the Community Foundation is a good choice for a client who knows they want to support a particular charity or charities for multiple years. Read more.
Charities and Cryptocurrency: Gifts are on the Rise
As cryptocurrencies’ profiles rise in the marketplace, your clients may begin asking questions about the possibility of using cryptocurrency holdings as part of their charitable giving plans. Interest in this technique has spiked in recent weeks, especially after the University of Pennsylvania’s announcement of a landmark $5 million gift of bitcoin to support the Wharton School’s Stevens Center for Innovation in Finance.
In many ways, advising clients about charitable gifts of cryptocurrency parallels the strategies you routinely use to advise clients about a gift of any highly appreciated or complex asset. For example, cryptocurrency gifts require documentation similar to what’s necessary to substantiate gifts of real estate, closely held stock, and collectibles. CFAAC accepts cryptocurrency as a complex asset. Read more.