For older adults, taking the bus spells freedom – no matter what language they speak.
Social isolation can affect all seniors but those from ethno-culturally diverse communities are at greater risk. A grant from HCF is helping the Hamilton Council on Aging to expand its successful “Let’s Take the Bus” workshop designed to increase these seniors’ independence and sense of belonging.
A workshop for South Asian seniors included presentations on everything from planning the route to paying the fare, all assisted by a volunteer interpreter, and materials in Urdu and Punjabi. Following the workshop, the City of Hamilton supplied a bus and driver to take participants to Jackson Square, where they were treated to lunch.
Participants reported feeling more comfortable with the bus and plan to take it more often. Future workshops are planned for the Italian and Portuguese communities.
In 1986, Interval House opened as an emergency shelter. Today, the community-based agency offers comprehensive services for rural and urban women who have experienced abuse, including shelter, support, legal advocacy and counselling. It also works toward system change that will result in greater safety for all women and their children.
In 2006, Interval House took the important step of establishing an agency endowment fund at HCF, taking advantage of a $5,000 incentive offered by the Foundation to any local charity that chooses to establish such a fund.
Donors can now give directly to the Interval House (Hamilton) Freedom & Hope Fund at HCF. It provides an important way for donors to give to Interval House, knowing funds will support programs and services and ensure that they are available into the future.
Excerpt from Spring 2014 Newsletter
Beyond food security, Neighbour 2 Neighbour Centre knows that community gardens and food programming offer opportunities to learn the value of local food and build relationships between communities. A grant from HCF is helping N2N to expand its programming to connect teens and seniors through food, creating an intergenerational food garden and cooking programming. 
Working with Sackville Senior Recreation Centre to make use of its extensive green space and fully equipped commercial kitchen, N2N hosted garden skills and cooking sessions to enhance food growing and literacy skills. This 8-week program paired senior participants with youth to work together around food. It gives seniors new energy and youth mentorship – a win-win for both.
The cooking and gardening presentations were run by university summer students. Vegetables, fresh from the N2N community gardens, were used as ingredients for delicious and healthy meal. One senior participant noted that the program offered opportunities to try new foods and to learn to live healthier.
In addition to increasing knowledge of food and making healthier dietary substitution, the social aspect of the program was also valued by participants, who got to socialize with people in the community while gaining knowledge in food and gardening.
Building on their ever expanding network of community gardens, this initiative has proven to be both educational and life-changing. Participants learn the importance of local food, build relationships, develop new skills and experience improved mental and physical health. In addition to continue growing its on-site community food programs, N2N plans to offer site-specialized mobile programming to reach new audiences and connect closer with people in the community.
What happens when Beethoven meets Thomas Edison? The Hamilton Wentworth District School Board’s answer to this is Learning Through the Arts (LTTA), a series of innovative programs that combine core curriculum with art-based teaching methods to create fun learning experiences that encourage students’ creativity and self-expression in the learning process.
The HWDSB placed specially-trained Arts Educators in over 100 classrooms to create more dynamic learning experiences in collaboration with teachers and their students. A grant from the HCF’s Edith Turner Foundation Fund has extended the reach of the programming to over 500 more students from eight high needs schools.
Music composition, poetry, dance and aboriginal drumming were just a few of the many arts activities that HWDSB students got to experience as they learned about environment responsibility, social justice, fiscal responsibility and more.
Students composed new music to express their thoughts on the health and restoration of the Hamilton Harbour and watershed. Through spoken word and dance, students explored topics on social justice and used choreographed movements to illustrate their viewpoints.
The Hamilton Community Foundation grant also enabled the introduction of two new programs: Youth Empowerment Program (YEP) and the Music Champion program to HWDSB. YEP supports youth in vulnerable situations, using the arts to engage students experiencing learning difficulties. Its impact is far-reaching, beyond just supporting the learning of core curriculum but also addressing critical social issues faced by these youth. Similarly, Music Champion is a program harnesses the power of music to teach math, science and language arts.
The LTTA programs prove that the arts and engaged learning go hand in hand. School-wide survey results showed 100% of teachers agreeing that LTTA lessons kept their students more interested and engaged. Additionally, teachers also noted that students with behavioural issues responded positively to LTTA programs. Said one staff member, “It was an exciting program for the kids. Every single student loved what they were doing and when I talked to them about what they were doing, they were able to articulate the learning that was taking place in the classroom as well.”
[youtube=https://www.youtube.com/watch?v=cRu2FHbZ2rM]
I graduated from Westmount High School in Montreal in 1974, then earned an Honours B.Sc. in Biology from Concordia University. In 1977, I received an NSERC 1967 Science Scholarship to enter the PhD program in Zoology at the University of British Columbia; I graduated in 1981 and took up an NSERC post-doctoral Fellowship also at UBC for one year and conducted a final year of postdoctoral training at McMaster University (Biology) in 1982-83.
I was made aware of the award by my second postdoctoral supervisor, Dr. Chris Wood (Department of Biology, McMaster University). Ironically, he also told me that I didn’t really stand a chance of being successful because the competition for these awards was so stiff.
I have been a professor at the University of Ottawa in the Department of Biology since 1983. Currently, I am the Dean of Science. The Eastburn Fellowship was pivotal in allowing me to continue my post-doctoral fellowship training, which, in turn, allowed me to become competitive in the academic job market. Being able to add such a prestigious scholarship to my CV certainly contributed to my success.
I was at a crossroads when I applied for the Eastburn, no funding, no prospect of securing a PDF without a scholarship and certainly too junior to be successful in the job market. Quite simply, I would not be a professor today if it were not for the receipt of the Eastburn scholarship – it changed my life.
If I could say anything to Mr. Eastburn, I would say, “Thank you X 10^6! Your generosity changed my life and consequently, also influenced (I hope in a positive way) the many students whom I have mentored over the years. Your gift lifted me to where I am today – I am forever grateful.”
I graduated from Sir Allan MacNab High School in 1997 and attended OAC in 1997-98. As I went through high school, I figured out fairly quickly that I wanted to be a social worker. I was lucky enough to be born into a family that had many privileges and I wanted to help those who hadn’t been as lucky; who struggled with issues such as addiction, poverty, and illness. I applied for and was accepted at McMaster University, into the School of Social Work. I started classes at McMaster in the fall of 1998, and graduated in 2003 with my BA/BSW.
I tried to keep an eye out for any possible scholarships or bursaries, but didn’t seem to be eligible, for one reason or another. The HCF Bursary was one that I could actually apply for, and I was very excited to find it. I’ve worked at the Hamilton Children’s Aid Society for just over seven years, as a child protection worker, and it has given me a chance to use the skills I learned in university. It’s nice to know that I’m actually doing the work I hoped to do.
When I was going through the social work program, I was also doing a field placement and working a part-time job. The financial help meant that I could do a few less hours at the local grocery store, and spend them studying instead.
I was lucky to have a lot of help from my parents when I was going through school. Having the Chaney Ensign Bursary meant that I could stand on my own two feet a bit more, and not have as much debt at the end of my university career.
If I had a chance to speak to the donors who made the fund possible, I would say, “Thank you. Going to university is a stressful experience. Having the HCF bursary makes it a little easier to relax, and focus on doing the best work possible.”
I attended Cathedral Girl’s and Central high schools in downtown Hamilton, graduating from what was then Grade 13 in 1966. I then earned a bachelor in journalism from Ryerson University in Toronto and soon started a long career in journalism, including about 15 years as a reporter and editor at The Hamilton Spectator in Hamilton, as well as The Star, The Globe & Mail in Toronto, and as a freelancer in Rome, Italy.
I cannot recall how I learned about the Chaney Ensign Bursary Fund, but as a reporter, I knew about the Foundation. I am currently retired as health editor at The Hamilton Spectator, and am working part-time as an arts & entertainment and lifestyle copy editor at Postmedia Editorial Services in Hamilton.
I was not your usual “young” person looking to get into university. I was a middle-aged person in mid-career who really desired more education than my bachelor degree afforded me. I wanted more intellectual stimulation and advancement in my career and saw a post-graduate study program as the way to achieve these goals.
As a single parent with a daughter to care for, I found it financially prohibitive to give up a full-time salary to study. However, I was very committed to the goal and with a little help from the Foundation, I was able to earn a Master’s degree from York in 1992 and then go on to do most of a PhD program (all but dissertation, which I may return to now that I’m semi-retired) at the Ontario Institute for Studies in Education at the University of Toronto.
I’ve always thought that journalists should be very well educated because the task of writing to convey information etc. to readers is a very substantial responsibility that requires a lot of skill, knowledge and experience to carry out. I felt my undergrad degree wasn’t all that I wanted from the academic world, and earning my master’s and doing most of the work required for a PhD gave me not only more knowledge but also helped sharpen my intellectual skills and boosted my confidence at work and our community.
If I could say anything to Genevieve A. Chaney & Cordelia C. Ensign, I would say “thanks.” Your generosity really makes and enriches other people’s lives and enables them to better contribute to our community and society.
I spent my early years in the Ottawa Valley, and Brockville, Ontario. In school, I was always involved with music and theatre. My parents moved to Hamilton as I was setting a course for university study as a singer and in particular, studying opera. I attended the Faculty of Music at University of Toronto where I was fortunate enough to work with Canadian soprano Lois Marshall. I pursued further studies in New York City at both New York University and The Juilliard School.
I was very fortunate to meet Boris and Ardyth Brott, who gave me my first job in arts management after university. I worked with them for three years managing the festival during the summers and going to school in the fall and winter. The Boris Brott Festival was a terrific place to learn about what it takes to produce orchestral and chamber music concerts. Boris and Ardyth were wonderfully supportive of me both as an artist and a manager behind the scenes. I learned about the bursary through them, as they were very involved in the community.
Today I am the Director of Advancement at Perimeter Institute for Theoretical Physics in Waterloo, Ontario. I live in Dundas with my husband, a professor of chemistry at McMaster University. We have four-year-old twins. I sing to them all of the time – and of late, this is the only formal singing I do. I can’t wait to get them started in music lessons and attending concerts in the community. We are fortunate to have so many opportunities to experience the wonder of the arts in this region. Hamilton Community Foundation plays a big part in supporting young artists on stage and the artists who work behind the scenes. The work of the Foundation helps to create an ‘eco-system of possibility’ which is vital to building our creative and thriving city.
The bursary helped me get a matching scholarship that enabled me to fund my education in NYC. I would not have been able to attend school in New York without it.
Having an established organization like HCF acknowledge talent and ambition in a formal way provides confidence to young artists and students as they are establishing themselves. It also sets the stage for them to give back – because they remember how much they were helped in the early days. Today, I am a donor to HCF because I know, first hand, how much the support of others can inspire one to work harder.
If I could speak to the Geritol Follies committee, I would say, “Thank you. Your endorsement and support gave me the courage and capacity to reach higher and further than I would have on my own.”
I attended Westdale Secondary School from 1985 to 1989, graduating summa cum laude and receiving an Ontario Scholar’s award. I then attended McMaster University from 1990 to 1995 where I studied Humanities, focusing on Classical studies – specifically Latin and Greek translation. Once again, I graduated summa cum laude and received the A. G. McKay prize in Classical studies, which is awarded for excellent grades. My education continued as I went on to attain my Master’s degree in classical degree languages. In 1994–1995, I attended Brock University, receiving my Bachelor of Education.
My first year at McMaster was a difficult one, as my father had left our family in financial hardship. My memories are a little hazy, but I believe that Dr. James Dale, a professor at McMaster University and a member of the same church that I attended with my family, found out about my financial difficulties. I believe he made an appointment with the financial department so that he and I could investigate the options available for me. It was during this appointment that I learned about the Chaney-Ensign Bursary. He also helped me complete the request.
On graduation, I was hired as an occasional teacher by the Wentworth School Board in 1997 (now HWDSB) and have been a full time teacher since 1999. I teach the youngest students in our elementary school because I want to instill in them the love of learning that I have had since I first started my educational journey.
I would not have been able to complete my studies at McMaster had I not received the bursary. Without it, I would have had to put my educational goals on hold while I earned sufficient funds to pay for my education. The bursary relieved the stress and uncertainty of whether or not I would be able to continue to attend McMaster and ultimately fulfill my dreams of becoming a teacher.
If I could say something to the sisters who provided this bursary fund, I would simply say, “Thank you from the bottom of my heart. You saved my life and made it possible for me to fulfill my dreams.” I am truly grateful that there are people who are kind enough to share their wealth and good fortune. If I am ever in a financial situation where I can do the same, I will not hesitate to do so.
I attended Cathedral High School in Hamilton and graduated in 1999. I was part of the French immersion programme and loved it. I attended York University and got my Bachelor of Science with Specialized Honours in Psychology from 2000-04, and decided to pursue a career in law at Georgia State University College of Law from 2006-09, graduating with a Juris Doctor. Since 2010, I have been practising law.
Originally, I was a Youth Advisory Council (YAC) member at HCF and went on to become a summer coordinator for the Foundation. As the summer coordinator, I was responsible for doing research and compiling some grant-giving criteria for an endowment fund that had been recently set up. It was through this association that I learned of, applied for and was awarded a bursary.
My primary role today is as a wife and mother. I have been happily married for over nine years, and my husband and I have two sons and a daughter, ages six, three and seven months. I am a practising attorney in Metro-Atlanta, Georgia. Right now, I am an Assistant Public Defender, and I handle all sorts of cases from minor infractions such as driving offenses to major felonies, such as armed robbery and aggravated assault.
I was able to use the bursary to help with the costs of my books in school. As a psychology major, there is almost always a new edition coming off of the presses, which made getting used books difficult. New books are very expensive and this bursary helped to shoulder some of that cost.
I was able to graduate from York virtually debt free. This freedom allowed me to pursue my graduate degree studies based on my passions rather than the price tag. As a current holder of student loan debt, not having that extra burden was priceless.
If I could say anything to the Chaney-Ensign sisters, I would say, “thank you for your generosity! Your fund is a timeless gift that will continue to keep giving for many years to come.”
I believe that education should be a right, not a privilege, and bursaries such as this help to promote that principle.
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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