Return to flip book view

Annual Report 2015

Page 1

!!!!ANNUAL!REPORT!!2015!!!!!!!!!100!Fillmore!Street,!5th!Floor!Denver,!CO!80206!!Phone:!303.832.3200!Fax:!303.832.4176!www.kennethkingfoundation.org!

Page 2

CONTENTS!!! ! ! ! ! ! ! ! ! ! ! ! 1!Table!of!Contents!A"Letter"from"the"Board"Chair"&"President".........................................................................................."2!Revenue"and"Expenses"(cash"basis)"......................................................................................................."4!Board"of"Directors/Key"Staff"....................................................................................................................."5!Grants"by"Program"Area"............................................................................................................................."6!Funding"by"Program"area"&"region"........................................................................................................."8!Contac t "I n formation"....................................................................................................................................."9!!"""

Page 3

KENNETH!KING!FOUNDATION!!!!! ! ! ! ! ! ! ! ! ! ! ! 2!A!LET TE R!FROM!THE!BOARD!CHAIR!&!PRESIDENT!Dear!Friends!of!the!Kenneth!King!F oundation:!Enclosed!please!find!the!2015!Kenneth!King!Foundation!Annual!Report.!!In!2015,!the!Kenneth!King!Foundation!made!$487 ,70 0!in!grants!to!Colorado-based!nonprofit!organizations.!Most!of!our!funding!was!geared!towards!creating!meaningful!employment!and!entrepreneurship!opportunities!for!Colorado’s!at-risk.!We!continued!to!fund!organizations!that!deliver!basic!human!needs!to!those!who!need!it!most!and!to!a!lesser!degree,!supported!Colorado’s!arts!and!culture!organizations.!!Our!second!year!funding!jobs!created!through!entrepreneurship!programs!continued!with!investments!in!organizations!such!as!the!Rocky!Mountain!Microfinance!Center,!ACCION,!Emily!Griffith!Technical!College!and!Mi!Casa!Resource!Center.!We!will!continue!to!fun d !in!areas!such!as!t h is !in !2 016.!Colorado!is!ranked!the!2nd!most!highly!educated!state1,!is!consid e red!th e !top !s ta te!for!la b o r !s u p ply2!and!Denver!is!considered!the!3rd!easiest!city!in!the!nation!to!find!a!job3.!Skilled!wo rkers!co n t inue!to!move!to!Denver,!purchasing!homes!and!second!homes!and!securing!high-paying!jobs.!All!of!these!economic!indicators!are!good!n e ws!for!som e !b u t!n o t!a ll!of!us.!!With!a!lower!than!national!average!unemployment!rate!of!3.4%4,!Denver’s!booming!economy!is!increasi n g !the!cost!of!living!at!a!faster!pace!than!the!national!rate!of!inflation,!+13.6!percent!since!20095.!!Personal!expenses!such!as!rent,!groceries,!energy!and!fuel!are!rising!faster!than!wages,!making!it!difficult!for!non-skilled!workers!to!keep!up!with!our!state’s!cost!of!living.!And,!many!of!the!new!jobs!created!in!Colorado!are!at!the!lower!end!of!the!pay!spectrum,!or!have!been!scaled!back!to!part!time,!resulting!in!difficulties!making!ends!meet.!Given!25%!of!the!Denver!Metro!Area’s!homeless!reported!having!received!money!from!working!in!the!last!month6,!improving!acce s s !to!m ore!meaningfu l!e mployment!a n d !e n t repreneurship!has!a!meaningful!impact!on!not!only!improving!standard!of!living,!but!securing!permanent!housing!for!the!homeless.!!The!nonprofit!organizations!we!serve!continue!to!respond!to!the!needs!of!Colorado’s!at-risk!population,!identifying !an d !a dd ressing !ine q u itie s!a m o n g !th e!u n e du c a ted!an d !u n de r-employed!population,!who!require!a!multitude!of!creative!solutions!ranging!from!emergency!services!to!job!training.!As!Kenneth!King!recognized!when!he!established!his!Foun datio n!in!199 0,!em p loyment!and !removing!the!barriers!to!employment!continue!to!be!promising!permanent!pathways!out!of!poverty.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1!Metro!Denver!EDC,!2014!2!Forbes,!2015!3!Forbes,!2015!4!May!2015!-!State!Demographer’s!Jobs!Report!5!U.S.!Bureau!of!Labor!Statistics!6!2015!Metro!Denver!Homeless!Initiative!Metro!Denver!Point!In!Time!Report!

Page 4

A!LET TER!FROM!THE!PRESIDENT!!3!In!2016,!the!Foundation!continues!to!expand!its!impact!investing!program.!We!see!great!potential!in!leveraging!our!grantmaking!dollars!to!strengthen!microloan!programs,!social!enterprises!and!entrepreneurship!programs!across!urban!and!rural!Colorado.!We!encourage!organizations!interested!in!exploring!impact!investing!to!contact!us,!either!by!phone,!303-832-3200!or!email,!grants@kennethkingfoundation.org.!!We!continue!to!be!inspired!and!awestruck!by!the!perseverance,!flexibility!and!creativity!of!Colorado’s!nonprofit!sector.!Thank!you!for!allowing!us!this!opportunity!to!serve!those!who!need!it!most.!!!With!Gratitude,!!Tim!Welker! ! ! ! Janice!Fritsch!Board!Chair! ! ! ! President!

Page 5

KENNETH!KING!FOUNDATION!!!!!!!!!!!!!!!!!!!!!!!!! ! ! ! ! ! ! ! ! ! ! 4!!REVENUE!AND!EXPENSES!(CASH!BASIS)!Revenues:""Interest"and"dividends"$"1,604,322"Net"realized"gain"on"sale"of"investments""2,149,871"Other"Income"""763"" "" Total"revenues"""3,754,956"Grants"paid""487,700"Other"grant"espenses""174,079"Administrative"expenses""721,852"Rental,"real"estate"and"other"investment"expenses""76,561"Excise"tax""147,409""" Total"expenses""""1,607,601"Changes"in"net"assets"not"reported"under"the"cash"basis"method"of"accounting:""Decrease"in"unrealized"appreciation"of"investments" " " """"""""""""$"(921,358)""BALANCE!SHEET!(CASH!BASIS)!Assets:""Net"Assets:"!The!Foundation’s!financial!statements!are!audited!by!Kundinger,!Corder!&!Engle,!P.C.!Expenses:"!Changes"in"net"assets"$"2,147,355"Cash"and"money"market"$"305,621"Common"stock "a t "fa i r "market"value""43,885,932"Partnership"interest"at"fair"market"value""271,428"Other"investments"at"fair"market"value""40,000"" Total"cash"and"investments""44,508,981"Lease"deposits""5,178"" Total"assets"$"44,508,159"Unrestricted"net"assets"at"fair"market"value"$"44,508,159"" Total"net"assets"$"44,508,159"

Page 6

KENNETH!KING!FOUNDATION!!! ! ! ! ! ! ! ! ! ! ! ! 5!BOARD!OF!DIRECTORS/KEY!STAFF!!!T.E . !Wel ker,! Board!Chair!Matthew!R.!Banner,!III,!Director!John!Love,!Treasurer/Director!Janice!K.!Fritsch,!President!!GRANTMAKING!GUIDELINES!!In!fourth!quarter!of!the!calendar!year,!the!Foundation!extends!invitations!to!organizations!that!deliver!basic!human!services,!job!creation!and!arts!and!culture!programs.!The!Foundation!reviews!proposals!in!the!first!quarter!of!the!year!and!makes!funding!decisions!in!the!second!and!third!quarter.!For!more!information,!please!visit!our!web!site!at!www.kennethkingfoundation.org.!

Page 7

KENNETH!KING!FOUNDATION!!! ! ! ! ! ! ! ! ! ! ! ! 6!GRANTS!BY!PROGRAM!AREA!!ARTS,!CULTURE,!AND!THE!HUMANITIES!Organization!!Amount!Funded!Broomfield!Civic!Chorus..........................................................................................................................$2,500!Central!City!Opera!House!Association...............................................................................................$5,000!Colorado!Ballet!Company........................................................................................................................$5,000!Colorado!Symphony!Orchestra..........................................................................................................$30,000!Denver!Lyric!Opera!Guild......................................................................................................................$10,000!Denver!Museum!of!Nature!and!Science............................................................................................$5,000!History!Colorado.........................................................................................................................................$5,000!Total"Arts,"Culture,"and"the"Humanities"Funding-"13%""""""""""""""""""""""""""""""""""""""""""""""$62,500"HUMAN!SERVICES!Organization!!Amount!Funded!Boy!and!Girls!Club!of!the!San!Luis!Valley..........................................................................................$5,000!Capitol!Hill!Community!Services.......................................................................................................$35,000!Colorado!Lawyers!Committee...............................................................................................................$5,000!Colorado!Lions!KidSight!Program.....................................................................................................$10,000!Comitis!Crisis!Center..............................................................................................................................$10,000!Delta!Gamma!Anchor!Center!for!Blind!Children...........................................................................$5,000!Denver!Catholic!Worker!Soup!Kitchen..............................................................................................$3,000!Denver!Rescue!Mission..........................................................................................................................$10,000!First!Baptist!Church!of!Denver................... ........................................................................................$16,000!Haven!House.................................................................................................................................................$5,000!Metro!Caring...............................................................................................................................................$20,000!Rocky!Mountain!MS!Center..................................................................................................................$10,000!Saint!Paul!Episcopal!Church...................................................................................................................$4,000!Step!13.............................................................................................................................................................$8,415!Total"Human"Services"Funding-"30%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""$146,415"

Page 8

KENNETH!KING!FOUNDATION!!! ! ! ! ! ! ! ! ! ! ! ! 7!JOBS!AND!E NT RE PR EN E URSHIP!Organization!!Amount!Funded!ACCION!New!Mexico...............................................................................................................................$50,000!Bayaud!Enterprises.................................................................................................................................$10,000!Blue!Star!Recyclers..................................................................................................................................$15,000!Community!Enterprise!Development!Services................................. .......... .......... .......... .......... .....$5,000!Downtown!Denver!Partnership/Champa!Commons..................................................................$4,200!Emily!Griffith!Foun dation......... ........... .......... .......... .......... .......... .......... .......... .......... ...........................$10,000!Goodwill!Industries!of!Denver............................................................................................................$40,250!Junior!Achievement...................................................................................................................................$5,000!Kim!Equine!Pavilion!and!Education!Center.....................................................................................$5,000!Mi!Casa..........................................................................................................................................................$25,000!Museum!of!Friends.....................................................................................................................................$5,000!Rocky!Mountain!Innovation!Initiative.............................................................................................$10,000!Rocky!Mountain!MicroFinance!Institute........................................................................................$50,000!Saguache!Works........................................................................................................................................$10,000!Spring!Institute.........................................................................................................................................$10,000!Total"Entrepreneurialism"Funding-"52%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""$219,450"EDUCATION!Organization!!Amount!Funded!Colorado!Council!for!Economic!Education......................................................................................$5,000!Sigma!Chi!Foundation........................... .......... .......... .......... .......... .......... .......... .......... ...........................$10,000!St.!Elizabeth’s!School..............................................................................................................................$10,000!!Total"Education"Funding-"5%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""$25,000"!Total&Grant&Funding&in&2015!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!$487,700!

Page 9

KENNETH!KING!FOUNDATION!!! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!8!!FUNDING!BY!PROGRAM!AREA!&!REGION!2.05% 2.05% 3.00% 1.02% 91.81% Out"of"State"$10,000Southeast"$10,000San"Luis"Valley"$15,000Heart"of"Colorado"$5,000Front"Range"$448,365Dollar"Amount"Percentage"of"Grants"By"Region$"62,500$"146,415$"219,450$"25,000Arts,"Culture,"and"the"HumanitiesHuman"ServicesJobs"and"EntrepreneurshipEducationFunding"by"Program"Area

Page 10

KENNETH!KING!FOUNDATION!!! ! ! ! ! ! ! ! ! ! ! ! 9!CONTACT!INFORMATION!!Kenneth!King!F oundation!100!Fillmore!Street,!5th!Floor!!Denver,!CO!80206!Phone:!303.832.3200!Fax:!303.832.4176!www.kennethkingfoundation.org!!info@kennethkingfoundation .org !