09.22.11 Hope Board Meeting
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09.22.11 Hope Board Meeting

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09.22.11 Hope Board Meeting 09.22.11 Hope Board Meeting Presentation Transcript

  • Hope Christian Community Foundation exists to serve Mid-South donors and ministries to facilitate the building of God’s kingdom in our community and throughout the world. Our mission is to encourage philanthropy and increase giving.Hope Christian Community Foundation www.hopeccf.org
  • BOARD OF DIRECTORS MEETING SEPTEMBER 22, 2011 Financial Highlights for Fiscal 2012 (4 months ended August 31) Hope for Memphis Fund Celebration of Generosity Luncheon Other MattersHope Christian Community Foundation www.hopeccf.org
  • FINANCIAL HIGHLIGHTSHope Christian Community Foundation www.hopeccf.org
  • Assets at August 31, 2011 Were $100M Compared to $106M on April 30, 2011 106.2 100.0 $110 Total Assets $83 70.7 71.0 67.4 Millions 52.9 49.7 $55 31.7 22.3 $28 12.4 3.3 6.5 2001 2005 2009 2012 YTDHope Christian Community Foundation www.hopeccf.org
  • Total Grants Made Since Founding $200M+ 200 191 $200 156 Cumulative Grants $150 125 Thru 8/31/11 Millions 92 $100 73 57 47 38 $50 29 15 8 2001 2005 2009 2012 YTDHope Christian Community Foundation www.hopeccf.org
  • Change in Assets for 4 mos. ended 8/31 2011 2012 Assets at Beginning of Fiscal Year $67.4 $106.9 New DAFs Opened 27.9 .8 Contributions to DAFs 9.8 7.2 $ Millions Grants from DAFs (8.2) (7.8) Agency fund deposits .8 .1 Agency fund withdrawals (1.1) (.1) Net Investment Earnings (4.8) (7.0) Expenses + other-net (.1) (.2) Assets at August 31 (in millions) $91.8 $100.0 (DAF = Donor Advised Fund)Hope Christian Community Foundation www.hopeccf.org
  • CHANGE OF ASSETS DURING FISCAL 2011 Thru 4.30.11 Assets decreased $7M or 6.5% to $100M Stock market & other investments negatively impacted assets by the same amount New funds opened this year were $ 800,000 Gifts received total $ 7.2M, down 27% from last year Grants made were $ 7.8M, down 4.5% as last yearHope Christian Community Foundation www.hopeccf.org
  • INCOME STATEMENT FOUR MONTHS ENDED AUGUST 31, 2011Hope Christian Community Foundation www.hopeccf.org
  • Four months ended 2012 Actual 2012 Budget 2011 Actual August 31 (000) Administrative Fee $188 $185 $158 Income $ Thousands Interest Income 44 44 46 Total Operating $232 $229 $204 Revenue Operating Expenses 170 176 149 Operating Income $62 $53 $55 Contributions 0 0 0 Net Income $62 $53 $55Hope Christian Community Foundation www.hopeccf.org
  • HIGHLIGHTS OF YTD FISCAL 2012 Income & expenses in line with budget Income higher than last year due to higher average assets Expenses higher than last year by $21k due to higher total compensation ($7k or 5%), timing of audit fees($5k) and expense of new brochure($7k). Net income YTD of $62,000 compares with budget of $53,000 and $55,000 last yearHope Christian Community Foundation www.hopeccf.org
  • CASH POSITION Cash total is $675,000 Operating reserve equals $500,000 Hope for Memphis fund equals $127,000 total, with $22,000 available for grants Generous Community Initiative fund equals $48,000Hope Christian Community Foundation www.hopeccf.org
  • FINANCIAL OUTLOOK Hope’s revenue is driven by fees on assets and interest rates. Stock market was down 10% for the 4 months ended 8/31; our assets declined less since equities account for less than 1/2 of total assets. Short term interest rates appear to remain at low levels for the foreseeable future. At current asset level, monthly income should be about $14K.Hope Christian Community Foundation www.hopeccf.org
  • HOPE FOR MEMPHIS FUNDHope Christian Community Foundation www.hopeccf.org
  • HOPE FOR MEMPHIS FUND UPDATE Available funds of $20,000 Total grants made of $763,500 New Business - Committee Recommendations (view handout) Recommend a grant to Memphis Athletic Ministries for $20,000 (visited by John Dudas and Douglas Skipworth)Hope Christian Community Foundation www.hopeccf.org
  • CELEBRATION OF GENEROSITY LUNCHEON TUESDAY, NOVEMBER 1STHope Christian Community Foundation www.hopeccf.org
  • WHY DOES HOPE HAVE A CELEBRATE GENEROSITY LUNCHEON? (VIDEO)Hope Christian Community Foundation www.hopeccf.org
  • CELEBRATION OF GENEROSITY IN MEMPHIS Tuesday, Nov. 1st, Holiday Inn by the University of Memphis, 11:30 - 1PM Keynote from Shane Stanford, the new pastor of Christ Methodist Please invite your friends, pastor, prospects, business associates + financial advisor Table of 10 is $250 Each director will be given one table A donation is requested but not required to cover the cost of the eventHope Christian Community Foundation www.hopeccf.org
  • CELEBRATION OF GENEROSITY IN MEMPHIS For the second year in a row, Hope was the largest granting foundation in Memphis. This is the first time this distinction does not go to the Community Foundation of Greater Memphis. Our donors are extremely generous. Gifts to Hope and grants have been very strong the past three years: Fiscal years-millions 2009 2010 2011 Total Giving to Hope $37.5 $35.0 $55.9 $128.4 Giving from Hope $34.3 $29.8 $29.2 $93.3Hope Christian Community Foundation www.hopeccf.org
  • OTHER BUSINESSHope Christian Community Foundation www.hopeccf.org
  • NEXT SCHEDULED BOARD OF DIRECTORS MEETING January 26, 2012Hope Christian Community Foundation www.hopeccf.org