09.22.11 Hope Board Meeting
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Transcript of 09.22.11 Hope Board Meeting
Hope Christian Community Foundation www.hopeccf.org
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.
BOARD OF DIRECTORS MEETINGSEPTEMBER 22, 2011
Financial Highlights for Fiscal 2012(4 months ended August 31)
Hope for Memphis Fund
Celebration of Generosity Luncheon
Other Matters
Hope Christian Community Foundation www.hopeccf.org
Hope Christian Community Foundation www.hopeccf.org
FINANCIAL HIGHLIGHTS
$28
$55
$83
$110
Millions
3.3
12.46.5
22.3
31.7
49.7
70.7 71.0
52.9
67.4
106.2100.0
2001 2005 2009 2012 YTD
Total Assets
Assets at August 31, 2011 Were $100MCompared to $106M on April 30, 2011
Hope Christian Community Foundation www.hopeccf.org
$50
$100
$150
$200
Millions
815
2938
4757
73
92
125
156
191200
2001 2005 2009 2012 YTD
Cumulative Grants Thru 8/31/11
Total Grants Made Since Founding $200M+
Hope Christian Community Foundation www.hopeccf.org
Hope 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
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)
$ Millions
CHANGE OF ASSETS DURING FISCAL 2011
Thru 4.30.11Assets decreased $7M or 6.5% to $100MStock market & other investments negatively impacted assets by the same amountNew funds opened this year were $ 800,000Gifts received total $ 7.2M, down 27% from last yearGrants made were $ 7.8M, down 4.5% as last year
Hope Christian Community Foundation www.hopeccf.org
Hope Christian Community Foundation www.hopeccf.org
INCOME STATEMENTFOUR MONTHS ENDED AUGUST 31, 2011
Hope Christian Community Foundation www.hopeccf.org
Four months ended August 31 (000) 2012 Actual 2012 Budget 2011 Actual
Administrative Fee Income $188 $185 $158
Interest Income 44 44 46
Total Operating Revenue $232 $229 $204
Operating Expenses 170 176 149
Operating Income $62 $53 $55
Contributions 0 0 0
Net Income $62 $53 $55
$ Thousands
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 year
Hope 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 $48,000
Hope 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 Christian Community Foundation www.hopeccf.org
HOPE FOR MEMPHIS FUND
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
Hope Christian Community Foundation www.hopeccf.org
CELEBRATION OF GENEROSITY LUNCHEONTUESDAY, NOVEMBER 1ST
WHY DOES HOPE HAVE ACELEBRATE 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 event
Hope 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:
Hope Christian Community Foundation www.hopeccf.org
Fiscal years-millions 2009 2010 2011 TotalGiving to Hope $37.5 $35.0 $55.9 $128.4Giving from Hope $34.3 $29.8 $29.2 $93.3
OTHER BUSINESS
Hope Christian Community Foundation www.hopeccf.org
NEXT SCHEDULED BOARD OF DIRECTORS MEETING
January 26, 2012
Hope Christian Community Foundation www.hopeccf.org