Chantal Copithorn has been a Women 4 Change contributor for the past two years. The senior manager at PwC shares her reasons for contributing to the Women 4 Change fund.
What motivates you to give?
I wanted to make a difference. I was born and raised in Hamilton and have always felt a connection to this beautiful city. I was looking for a cause that supported the city and when I read about the Women 4 Change program and its mission, I was excited.
What encouraged you to get involved in Women 4 change?
Women 4 Change focuses on improving the lives of women and girls in the Hamilton community through various programs. The challenges faced by women are unique (poverty levels, mental and physical health, etc.). As a woman who has always felt supported, I wanted to contribute to a program that would better lives of women and girls in our community. It has also provided me with the opportunity to meet and connect with other women who share the same philanthropic goals.
How is Women 4 Change transforming the lives of local women and girls?
You can see how the programs are empowering the girls. I was lucky enough to meet and speak with a number of girls involved in one of the programs at a Women 4 Change event in May. The girls shared their stories about how the program has helped them grow by sharing experiences and building confidence. The girls were so grateful and appreciative. To be able to spend the day speaking with the girls was very rewarding.
How can women participate in philanthropy?
If there is cause that excites or inspires you then you should support it however you can. Whether it is through financial contributions or volunteering, every little bit makes a difference.
To find out more about Women 4 Change, visit: hamiltoncommunityfoundation.ca/w4c
We recently received these wonderful photos from the Start2Finish Running and Reading Club, illustrating the impact of their Hamilton Community Foundation grant.
Down the home stretch
Perseverance pays off
Start2Finish is an after-school program operating at Prince of Wales, Dr. Edgar Davey and Bennetto schools. Addressing the need for physical activity, literacy and mentorship, these students work for most of the year towards a goal of participating in a 5k run, in the process focusing weekly on a new character quality, enjoying a snack, completing a journal and reading one on one with their coaches. These coaches, volunteers from throughout the community also become rmentors and role models and equipping children with the tools to succeed.
York University: Hamiltonians at the starting line
Highlights from the program:
A special highlight: With the consistent encouragement and guidance of his coaches, one of the students improved his focus and motivation and began to show proficiency in both running and reading, ultimately writing a book about LeBron James and winning the 5k run in Toronto in a field of 500 children.
Our grants team recently received this great e-mail and these before -and-after photos from a homeowner whose property was fixed up as part of this program. It’s a great testament to the power of small changes on a bigger city:
Back garden
“Thank You, to all involved with this transformation to a show-piece landscape, on my block. It is truly a wonder, what all the fellows did and suggested we do, with my house. I was not expecting the extent and workmanship on my lovely little house.
The young men and women were very efficient, hard-working and polite, through the whole week of work they did for me. They were becoming friends, by the time Friday rolled around. They seem to enjoy working with each other and everyone was working as a team.
Back porch
The workers were very helpful in suggesting we do certain alterations and I had to agree that each decision was just the right thing to do. I am more than happy with the end results.
A welcoming front entrance
This is a wonderful and community-building venture that will only enhance our beautiful city of Hamilton. I hope the Neighbourhood-Home-Improvement-Program and Threshold School Of Building just gets bigger and assists more neighbours such as myself.
I can’t thank you all, enough.
Read more about the Neighbourhood Home Improvement Program
A recently released study from the Lilly Family School of Family Philanthropy looked at how parents can teach their children to be charitable. While it is not a surprise to hear that parents significantly affect their child’s behaviour, it is interesting to learn that parents’ giving to charity (role-modelling) is not enough – rather intentional teaching is what really makes a difference.
Talking with your children about your values and why you give to the charities or causes that you do helps them to build understanding and empathy.
The holiday seasons provides a natural opportunity for having these discussions. The more profound influence, however, will come from making giving a part of everyday life. Teaching children that each of us has time, talent and treasure to share can occur at all ages and year round. When asked recently how they passed their commitment to the community on to their children, Peter and Karen Turkstra responded “our kids learned that it is just what we do”. Helping others, getting involved, sharing your resources, and seeing where you can make a positive difference are woven into their everyday lives.
Over the past several years Hamilton Community Foundation has provided support to citizens in some of Hamilton’s most challenged neighbourhoods and here we have witnessed the profound lessons that these families are teaching their children. From babies to teens, children are involved with their parents in planning and implementing things that will improve their communities. These children, too, are being raised with the belief that “this is just what we do”.
Philanthropy has been described as “an empowering experience that helps children gain a profound sense of their place in the world”.
If you haven’t already, take a moment this holiday season and start the conversation with your children. It may be the greatest gift you give and receive.
HCF is proud to sponsor a speaker and film screening this evening that explores the world of spoken word poetry “slams” and the youth who participate in them.
“Louder than a Bomb” is the largest such event in the world and the Founder, Kevin Coval is in Hamilton to share the story and talk about Hamilton’s own “Louder than a Bomb” festival. The film features four youth, preparing for the 2008 competition, with stories that are moving, evocative and inspirational.
“Louder than a Bomb Hamilton” Speaker and Film Screening
Thursday November 7th 2013 at 7:00 pm
ArtForms — 126 James Street North
Please take a moment to look at the website, watch the trailer and if you can attend tonight, feel free to do so!
FILM WEBSITE: https://www.louderthanabombfilm.com/
LONG VERSION (3:30 min) TRAILER: https://www.youtube.com/watch?v=81hXGdFF6TQ
SCENE (2:35 min) FROM FILM : https://www.imdb.com/video/screenplay/vi1985191193?ref_=tt_pv_vi_1
Today, May 17, is the International Day Against Homophobia. Having learned from my friend Deirdre Pike, however, let’s call it the International Day Against Phobia of our LGBTTTIQQ (Lesbian, Gay, Bisexual, Transgender, Transsexual, Two-spirit, Intersex, Queer, Questioning…or for those of you who only see the world in 140 characters bytes: LGBTQ) communities.
Despite real breakthroughs in the LGBTQ rights movement, homophobia remains all too prevalent today. Clearly one incident is too many…but even with progress to date, the stats are alarming. A meta-analysis of 25 international studies shows: 4 times risk of suicide attempt in LGB people; 1.5 times risk of depression or anxiety disorder in LGB people, 3 times greater risk of substance use disorder in lesbian / bisexual women, and 2 times greater risk of depression and panic disorder in gay / bisexual men (King et al, 2008).
For LGBTQ youth, the story is not any prettier. According to Egale Canada (2011) more than 40% of LGBTQ students report having experienced sexual harassment in school in the last year; 75% of LGBTQ students and 95% of trans students feel unsafe at school (compared to 20% of heterosexual students) and approximately 28% of LGBTQ youth drop out of high school because of discomfort or fear in the school environment.
A vibrant, inclusive Hamilton is one where every member of our community can live, work and play free from harassment, discrimination and bigotry. And Hamilton is on its way. Local organizations such as https://www.thewellhamilton.ca and https://hamiltonpride.org are wonderful resources to our entire community. Both Hamilton Police Services and the City of Hamilton have established committees that seek to reduce barriers to the LGBTQ community.
But there is much work that remains to be done. HCF is a proud supporter of International day Against Homophobia and encourages you to learn more at https://www.homophobiaday.org/.
I had the pleasure of attending the Rotary Clubs of Hamilton event last evening honouring this year’s Paul Harris Fellowship Award recipients. All are deserving of the honour and include HCF’s very own Terry Cooke, former Chief of Police Colin Millar and Pearson Dunn CEO George McCarter.
The atmosphere was wonderful and the event well planned. District Governor Rick Sterne’s remarks were a nice reminder of the good work done by Rotary in this community and around the world.
This morning’s Hamilton Spectator included an article about the event and the recipients that is worth reading if you are interested in more information.
On Monday evening I had the good fortune to attend an education session presented to our Women 4 Change contributors. The presentation was given by Suzanne Brown of Neighbourhood Development Strategies with the City of Hamilton and our very own Grants Manager, Sharon Charters.
The sessions focus was on supporting root causes and concluded with a well led and thoughtful discussion about how to structure your philanthropy that was guided using a parable (by Steven E. Mayer) about saving babies. It is worth reading and can be found athttps://effectivecommunities.com/pdfs/ECP_SavingBabies.pdf.
Talk about polar opposite evenings. Last night I wore my tux and attended the Hamilton Police Senior Officer’s Mess dinner at the armouries. Nobody does tradition and honouring public service like the coppers, and as an Honourary Chief and former Board Chair I look forward to the event every year. We should be thankful each and every day for the many members of our police service who put themselves in harms way to keep us safe and the Mess Dinner is a great time to do so.
Tonight I will be in jeans to hear my neighbour Tom Wilson together with his band Blackie and Rodeo Kings rock the house at Melrose Church on Locke St. at the finale of the amazing Live on Locke music series. The standing room only crowd will be a great testament to a bunch of amazing volunteers lead by Tom, Jim Fyshe, Beth Webel and many others who made it happen.
Only in the Hammer. This is a great town!
The timing was perfect! On Canada’s first recognized National Philanthropy Day, November 15, 2012, a new initiative was launched to inspire and enable the women of Hamilton to be leaders in philanthropy while focusing on improving the lives of girls and women in this community – Women 4 Change.
The room at Liuna Station was filled with 100 women (and two men) who heard inspiring and motivating remarks from Sandra Stephenson, Sheree Meredith and Beth Webel. There was also wonderful discussion about how to make the greatest impact in our community for women and girls.
The founders of this initiative have been busy over the last year working to shape this fund into one that will be transformative with a desire to foster independence and self-confidence, remove barriers to success and promote positive relationships for women and girls in Hamilton.
At the event everyone was asked two questions:
Let me know what you think by responding to j.anderson@hamiltoncommunityfoundation.ca.
For more information about Women 4 Change. You can also read the Spectator’s op-ed about women, philanthropy and collective impact.
Donations to the Foundation are invested for the long term in public markets and in alternative investments. Investment income is then allocated annually to support granting, community leadership and operations. The summary and charts presented here provide both a financial snapshot and a history of recent activity that underlies the grants and community leadership activities represented in this annual report, made possible by remarkable donors.
Donations to the Foundation are from individuals, corporations and other charities. Donors may contribute to named endowment or flowthrough funds, to the Board-directed Community Fund, or to HCF’s community leadership projects.
The $35.1 million in donations this year is the second highest total in HCF’s history. Annual donations are influenced by the timing of the realization of donations in wills and significant one-time donations like the $27.7 million in donations of property and private equity. As illustrated in Chart 1, annual donations have ranged between $3.2 and $35.1 million over the past eight years. The five-year rolling average of donations ranges from $5.0 million to $13.3 million over the past eight years.
The five-year rolling average number of donations is 1,787 with 2019-20 at 1,853. The number of donations fluctuates based on “in memoriam” donations and the number and nature of events sponsored by donors to raise money for their funds.
Chart 1
Grants are made annually from both endowed and flowthrough funds. Because flowthrough fund balances are distributed in a shorter time period, granting from these funds can materially influence HCF’s total annual amount granted.
As illustrated in Chart 2, grants and community leadership project spending over the past eight years has ranged from $4.7 million to this year’s historic high of $11.5 million. Granting from endowment funds was reduced in 2013 as a result of the decline in investment returns in 2012 which a) lowered the asset base used for the granting calculation (currently four percent of the fund balances), and b) resulted in less income available to grant. Flowthrough granting and expenditures on community leadership projects has ranged from 22 to 56 percent of total granting in any given year and is dependent on the timing and nature of flowthrough and project activity. At 893, the number of grants for this year is 37 percent higher than the eight-year average.
Chart 2
Investments traded in active markets are reported at fair market value. Investments not actively traded are recorded at their cost less any impairment of their value.
To support our strategy of aligning our assets with our mission and to provide a more diverse and robust portfolio, HCF has committed to investing in alternative asset classes including loans to charities and not-for-profits, private debt, real estate, infrastructure and private equity. These alternatives are consistent with the Foundation’s long-term investment horizon and liquidity requirements. Since these investments are not actively traded, they are valued at cost in the investments. These alternatives total $25.8 million.
HCF invests according to policy guidelines established by the Board of Directors. Two committees of the Board oversee investments to ensure compliance with the policy:
As an endowment builder, HCF’s policy focuses on long-term investing and is supported by reserve accounts that are currently at their policy maximum.
The investment policy sets out a total portfolio target asset mix, as well as a range around these targets. The public market investment managers have mandates within this targeted asset mix and use their discretion to invest the portfolios within this range. Chart 3 reflects the current and target asset mix. Note: $25 million of private equity relates to a fund established by a donor and is not part of the asset mix or the consolidated portfolio results.
Chart 3
Two long-term portfolios are invested in the public markets with Jarislowsky Fraser, and Connor, Clark & Lunn. Chart 4 compares those portfolios against benchmarks as follows:
Benchmarks reflect the performance of each market index based on HCF’s specific target asset mix. Comparing actual results to the benchmark measures the value added by investment managers compared to the average market performance. HCF’s investment policy target is a long-term investment return in the 6.5 to 7.5 percent range.
Chart 4
The effect of the global pandemic has materially affected investment returns, resulting in a -8.4 percent public market return for the year. The seven-year annualized return at 6.8 percent is within the targeted investment policy range and is 1.2 percent higher than the 5.6 percent benchmark. As noted in the financial highlights, the current 10-year annualized return of 7.0 percent is in the target range and is higher than the benchmark by 1.2 percent.
Impact investments enable donations to endowed funds to drive positive change beyond granting, because they represent investments of capital that deliver financial returns coupled with positive social and/or environmental outcomes. In addition, these investments provide a pool uncorrelated to the public markets which, in turn, buffers the portfolio from the volatility currently experienced.
More than 15 percent of our long-term assets are in impact investments. Chart 5 illustrates HCF’s impact investing progress over the past five years, with $25 million currently placed or outstanding and another $15 million committed. This brings the total commitment to $40 million, up from $34 million last year. Impact investments cover areas including affordable housing, arts, environment and sustainable development.
Chart 5
Local loans since inception total $9.7 million with $7.1 million outstanding at year end. Chart 6 shows the impact areas our loans have supported. Since the loan program’s 2012 inception, $2.6 million in loan principal has been repaid and recycled as new loans. In addition, the interest from these loans supports HCF granting.
Chart 6
IRP is a Government of Canada program being delivered nationally by partners including Community Foundations of Canada. As the first phase in the government’s long-term investment in social finance, the IRP’s goal is to make social-purpose organizations “investment ready” so they can make a difference in new and innovative ways through their participation in the social finance market. HCF has partnered with community foundations in London and Niagara, and the McMaster Innovation Park to manage the program regionally on behalf of Community Foundations of Canada. The first request for proposals for funding in January created enormous interest nationally and garnered 65 submissions to our regional partnership. Approved funding is expected to be released in June 2020. As an additional benefit, the IRP brought a growing number of potential opportunities for local loans to HCF’s attention.
These investments include private equity, private debt and real estate investments. Many of these investments are long term in nature, are maintained at cost and do not have a regular income stream. As these investments are maintained at cost, their results include interest income and realized gains, but not unrealized gains. Results for these investments are closely monitored and are reported when realized. Chart 7 identifies the investment areas, with $18.0 million placed and a total commitment of $33 million across 21 investments.
Chart 7
Operating expenses for the fiscal year ended March 31, 2020 total $2.5 million and were 2.5 percent higher than last year. Staffing costs related to the Foundation’s 22 employees represent 70 percent of HCF operating costs.
In addition to breaking out cost by type, operating costs are allocated to each of the Foundation’s operating areas: grants administration, community and philanthropic leadership, community relations and knowledge dissemination, development activities, and administration and governance. Examples of community and philanthropic leadership include convening around the city’s critical issues and fostering the growth of philanthropy by sharing staff time and knowledge to support other charities. Charts 8 and 9 illustrate these costs by operating area and by expense type.
Charts 8 and 9
The Foundation’s annual development expenses are not necessarily attributable to the donations received in that year. The nature of donations to the Foundation can result in costs preceding the receipt of the donation by several years (for example, donations through wills). As a result, consistent with the community foundation sector, operating costs are evaluated by a ratio of total operating expenses to average total assets. Ratios fall within a range depending on the size and stage of the community foundation’s development.
Management considers the ratio of 1.26 percent (1.25 percent in 2019), as illustrated in Chart 10, to be within an acceptable range for a foundation of HCF’s size, stage and level of community leadership, compared against benchmarks established in the community foundation sector. We continue to monitor both the actual results and the benchmarks on an ongoing basis.
Chart 10
Hamilton Community Foundation’s total assets of $201 million at March 31, 2020 include balances of HCF funds and funds held on behalf of others at $1.7 million.
Hamilton Community Foundation’s fund balances, illustrated in Chart 11, represent accumulated donations plus the net investment earnings on these donations, minus granting and operating costs. Funds include both endowed and flowthrough funds. Endowed funds are held permanently and grant from investment earnings. Flowthrough funds are fully distributed as grants over a pre-determined term.
Chart 11
The fund balances have grown 55 percent to $198 million at the year ended March 31, 2020 from $128 million in 2013. Donations of $35.1 million included $4.4 million in flowthrough donations that were largely distributed as grants in the year and, as a result, do not remain in the fund balances at year end. This results in a modest total funds balance growth of 4.8 per cent for the year. The number of funds has grown 19 percent to 377 from 318 in 2013.
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