COMMUNITY FOUNDATION OF UTAH Utah s Partner in Philanthropy 2022 Annual Report
A Seachange in Utah Philanthropy When the Community Foundation of Utah CFU was established our initial moniker was the Community Foundation for Social Entrepreneurship Our founders were deeply rooted in Utah s entrepreneurial community and shared a vision for the power collective philanthropy could bring to serve our state Over the past decade this aspirational goal along with a significant and sustained commitment of financial intellectual and human capital and much hard work has come to be Today we are pleased to say that the concept of a community foundation has catalyzed into the cusp of something really powerful in Utah In 2022 CFU witnessed an exciting transformation in Utah s philanthropic landscape As we exited the darkest days of the COVID 19 pandemic CFU saw an explosion in the number of donors seeking to give collectively with a commitment to shared measurable outcomes This evolution in giving provides us with immense optimism for Utah s philanthropic ecosystem as greater coordination can magnify our ability as a community to create meaningful sustained impact As we look beyond 2022 Utah faces a number of complex challenges such as a lack of affordable housing diminishing water resources and a strained educational system However we see a community unified with a solutions orientation where philanthropy can serve as a crucial catalyst We recognize that for philanthropy to meet these challenges we must continue to coordinate our work around clear informed goals and build trusting relationships with community partners Let us all continue to build upon this tremendous momentum and come together to ensure a brighter future for all Utahns Brad Dickson Board Chair Alex Eaton CEO 1
The Growth of Collective Giving 2022 showcased the dedication of Utah s philanthropic community to come together to meet critical needs through CFU s Community Impact Funds From refugee resettlement to homelessness donors and organizations demonstrated an unprecedented level of coordination and commitment to achieving lasting outcomes across Utah and beyond our borders Not only did Utah break new ground in the financial scale of collective grantmaking the number of donors contributing to Community Impact Funds grew exponentially These donors ranged from historic community institutions making multi million dollar gifts to elementary students donating lemonade stand proceeds a reminder that every action and every dollar is meaningful Contributions to Community Impact Funds 12 500 000 10 000 000 7 500 000 5 000 000 2 500 000 0 2019 2020 2021 2022 2
2022 in Review 57 Million given to 509 community organizations through 1 139 grants 173 Million assets under stewardship 358 Funds with an approximate 40 distribution rate from all Donor Advised Funds Thank you for your generosity 3 3 Data collected prior to 2022 Financial Audit
The Impact We Made Together Resettling a Historic Refugee Influx The Utah Afghan Community Fund through supporting the resettlement of over 900 Afghan humanitarian parolees is the latest demonstration of Utah s long standing commitment to welcoming refugees The Fund deployed over 1 2 million to address resource gaps in basic needs in addition to bridging cultural barriers for refugees long term resettlement Specifically the Fund served as a complement to existing public and private funding streams providing a range of support from legal assistance to home furnishings The Fund created a vital central infrastructure for resettlement organizations to coordinate their efforts and maximize impact Utah s Groundbreaking Aid To Ukrainian Families The Utah for Ukraine Fund was a first of its kind model allowing an entire community to come together to support women and children fleeing the war in Ukraine Alongside the Driven to Assist community donation drive the Fund raised 4 million in just six weeks catalyzed by a one to one match by the Larry H and Gail Miller Family Foundation The Fund supported critical relief services for Ukrainian refugees arriving in neighboring countries including education and childcare direct cash assistance and UNICEF blue dot centers With over 3 600 donations of which 90 were 100 or less the Utah for Ukraine Fund was a testament to Utah s spirit of generosity showing what a community can accomplish together A United Response to Homelessness The Utah Impact Partnership Fund was formed as an extension of the Utah Impact Partnership to champion innovative strategic and collective efforts to systematically address homelessness statewide To date the Utah Impact Partnership Fund deployed nearly 3 8 million in grants to secure deeply affordable housing youth transitional housing and support the development of a new detox facility in Salt Lake County The Utah Impact Partnership Fund is a key tool in Utah s united response to homelessness The Fund works in close coordination with the Utah Homelessness Council to identify impactful and timely projects that will move the needle on homelessness across the state 4
Cultivating Philanthropic Learning Communities Supporting the Next Generation of Donors CFU continues to cultivate opportunities for donors to deepen their knowledge and networks within philanthropy In partnership with the Walton Family Foundation CFU launched its inaugural Give for Good cohort a peer network of 16 next generation Utah philanthropists anchored in a desire to explore philanthropic practice together A first for our local philanthropic ecosystem cohort participants worked together to learn about issues facing Utah and create a strategic framework to deploy a 10 000 grant aligned with the participants shared values and giving styles Give for Good is an exciting indicator of the continued shift toward more engaged collective and strategic philanthropy in Utah Through this initiative I was able to meet the dedicated professionals who have their boots on the ground making a real impact on this issue Give for Good provided me with a foundation built on strategy thoroughness and discipline that I have been able to apply to my personal giving and community involvement Give for Good Participant 5
Impact Investing with Utah s Brightest In 2022 CFU launched Full Spec a learning series focused on building a community of donors passionate about exploring ways to activate more assets within their philanthropic portfolio to create impact The inaugural event featured a dive into Mission Related Investments a strategy of investing charitable dollars into mission driven social ventures Attendees engaged with local social entrepreneurs in diverse fields from medical devices to legal tech and learned how the work of companies like these can complement a donor s grantmaking strategy In 2023 CFU will expand Full Spec providing further educational opportunities at the intersection of impact investing and philanthropy Sharing Resources for Family Foundations The Utah Grantmakers Alliance UGA serves as a learning community of local family foundations and donors committed to sharing best practices to maximize their philanthropic impact In 2022 UGA focused on innovation and next generation giving to create collective change Abby and Clark Ivory of the Clark and Christine Ivory Foundation shared their expertise on creating innovation in housing affordability UGA also hosted Natalie Gochnour of the Kem C Gardner Policy Institute in a discussion on the broader demographic and community needs facing Utah over the next decade and how philanthropy can best meet these needs 6
Sabbaticals An Innovative Investment in Nonprofit Leadership Talented and effective leadership is a critical ingredient to any organization s success Recent years have proved challenging to attract develop and retain top talent within Utah nonprofits To combat burnout and create space for innovation CFU s Invest in Success initiative expanded its scope to include a sabbatical for nonprofit executives In partnership with the American Express Center for Community Development CFU provided a week of immersive leadership development to a cohort of seven nonprofit executives followed by a week long sabbatical where these leaders disengaged completely from their organizations to explore new ideas and strategies Invest in Success has been and continues to be one of the most important leadership development opportunities I ve ever had the privilege to take part in The words that come to mind when I think of this week are Connected Rested Challenged and most importantly Inspired Rihana Medina Executive Director of Moab Valley Multicultural Center 7
Immersing Students in Impact Careers As part of CFU s broader strategy to attract develop and retain top talent in Utah s nonprofit sector CFU selected five outstanding graduate students to serve as the 2022 Morgan Stanley Community Development Graduate Fellows In partnership with Morgan Stanley and the University of Utah these Fellows were paired with organizations to develop their skills build their networks and receive hands on experience in community development work Examples of Fellowship projects include Developing a structured system to incorporate encourage and elevate the voices of people with lived homelessness expertise regarding program delivery and services Shepherding the acquisition and substantial rehabilitation of a 24 unit public housing family rental development Conducting ethnographic research on 600 graduates of a community leadership institute and the success of their projects since graduating 8
Board of Directors Mikelle Barberi Weil Weber State University Chris Conard David Eccles School of Business Trish Coughlin Amazon Brad Dickson Board Chair B Rad Industries Doug Hansen Tanner LLC Josh Kanter Josh Kanter Wealth Advisory Services Jeramy Lund Ally Bank Jeff Miller Mark Miller Subaru Jennifer Robinson Kem C Gardner Policy Institute Marty Tate Kunzler Bean Adamson PC Jensen Warnock Mercato Partners CFU is grateful to Brad Dickson for his generous years of service as Chair of the Board of Directors Brad led CFU through an unprecedented phase of growth and was instrumental in developing CFU s expertise facilitating Mission Related Investments His determination and zeal will continue to catalyze philanthropic capital and uplift transformative change in Utah I think we all understand that societal problems cannot be solved overnight We need to build a foundation that will raise the entire community Systemic and sustainable solutions take time Brad Dickson Board Chair Thank you Brad for your commitment and determination to advance our mission 9
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Through community centered philanthropy the Community Foundation of Utah enables all Utahns to contribute to our community today ensuring a brighter tomorrow Follow us on LinkedIn for current reporting news and announcements www utahcf org 2257 South 1100 East Suite 205 Salt Lake City Utah 84106 info utahcf org 801 559 3005