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Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

Essex County Community Foundation’s mission is to promote philanthropy and strengthen nonprofits serving the people of Essex County, Massachusetts.

ECCF collaborates with individuals, families and businesses to match their charitable interests with our community's needs. We strengthen nonprofits through grants and supportive resources. ECCF incubates new ideas and bring leaders together to address our community's most pressing needs.  

ECCFs goals include

· Managing a robust set of permanently endowed funds that will help donors and support the community.

· Grow our total assets by $15 million

· Create a premier donor services organization.

· Re-work our business model

· Provide a strategic focus for our community leadership activities. 

Mission Statement

Essex County Community Foundation’s mission is to promote philanthropy and strengthen nonprofits serving the people of Essex County, Massachusetts.

ECCF collaborates with individuals, families and businesses to match their charitable interests with our community's needs. We strengthen nonprofits through grants and supportive resources. ECCF incubates new ideas and bring leaders together to address our community's most pressing needs.  

ECCFs goals include

· Managing a robust set of permanently endowed funds that will help donors and support the community.

· Grow our total assets by $15 million

· Create a premier donor services organization.

· Re-work our business model

· Provide a strategic focus for our community leadership activities. 


FinancialsMORE »

Fiscal Year July 01, 2014 to June 30, 2015
Projected Income $1,287,474.00
Projected Expense $1,179,299.00

ProgramsMORE »

  • 1. Center for Nonprofit Excellence
  • 2. Donor Advised Funds and Charitable Giving
  • 3. Youth at Risk (YAR)
  • 4. Hunger Relief Initiative
  • 5. Betty Beland Greater Lawrence Summer Fund

Revenue vs. Expense ($000s)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Essex County Community Foundation’s mission is to promote philanthropy and strengthen nonprofits serving the people of Essex County, Massachusetts.

ECCF collaborates with individuals, families and businesses to match their charitable interests with our community's needs. We strengthen nonprofits through grants and supportive resources. ECCF incubates new ideas and bring leaders together to address our community's most pressing needs.  

ECCFs goals include

· Managing a robust set of permanently endowed funds that will help donors and support the community.

· Grow our total assets by $15 million

· Create a premier donor services organization.

· Re-work our business model

· Provide a strategic focus for our community leadership activities. 


Background Statement

ECCF was founded in 1998 by David Tory to educate nonprofit leaders and provide a funding vehicle to support charitable work in Essex County. Soon thereafter he realized that another need had to be addressed -- Essex County nonprofits needed more local sources of funding and he changed the focus of the organization.  Within 3 years, 28 donor funds had been created, clearly showiing that philanthropists wanted a local organization to help them support their charitable goals, and the concept of ‘Give where you live’ began to grow. ECCF began hosting workshops for training nonprofit leaders, helped found the Youth at Risk Conference and established the Essex County Forum, which gathered environmental organizations from across the region to share knowledge and resources. By the time David retired in 2008, the Community Foundation held 108 funds and had granted more than $2 million to nonprofit programs.

Over the next six years, endowment assets increased to more than $26 million, ECCF awarded more than $25 million in grants, and the organization added a variety of grant making vehicles and initiatives such as the Center for Nonprofit Excellence, the Youth at Risk Conference, the Institute for Trustees.

ECCF’s mission is emphasized in its investment policies. The goal is to preserve and enhance the real value of assets over time. The volatility of investment markets is clear to everyone in this volatile market. Keeping the volatility of investment markets in mind, ECCF and other prudent investors practice a balanced, steady and vigilant approach to the care of assets. The assets entrusted to ECCF are managed by accomplished investment professionals who live locally and practice globally. They are volunteers serving their communities, some as Trustees of ECCF, and others as non-trustee members of the Investment Committee.


Impact Statement

ECCF supports nonprofit organizations through grant making. Nearly 70% of annual grant making is from donor advised funds. Awardees are recommended by special section committees. ECCF also manages a variety of scholarship programs established by donors to honor friends, family members or communities. ECCF also oversees eight competitive grant programs including ECCF’s Discretionary Fund, Fund for Nonprofit Excellence, Emergency Fund and 6 donor advised and field of interest funds. In 2014 ECCF provided 778 grants and scholarships amounting to $5,740,887 through these programs. 

ECCF facilitates discussion about the pressing issues facing the community, assists in identify direction in addressing these issues; and responds specifically to the needs of the community with timely, innovative, impactful leadership projects.

Finally, ECCF’s Center for Nonprofit Excellence (CNE) provides comprehensive educational services and support to improve the efficiency and effectiveness of the nonprofit community that serves the 750,000 people who live in the County. The CNE has three core components: Capacity Building Support, Conferences, Evaluation Training Initiative and Research.


Needs Statement

Essex County is fortunate to have a broad array of nonprofit organizations that feed our hungry, care for the sick, educate our youth, house the homeless, improve the richness of our lives through art and music, and protect our rivers and coastlines.  They represent 16% of our economy, and touch every one of the nearly 750,000 people who reside here.  The number of nonprofits in this region is increasing as is the demand for their services.  


CEO Statement

It is a privilege to work with an organization and people who are committed to community philanthropy.   A community foundation is one of the most effective vehicles to enable that to happen. ECCF has had a profound impact on philanthropic efforts across Essex County and I’m excited to help it grow even more in every way.

We have a rich and diverse set of communities here.  While many residents feel an affinity to their own town, many of us are also sensing a growing importance of the vitality of the region as a whole.  A lot of us live in one town, work in another and enjoy recreation all over the County, from the beautiful beaches, trails and parks to the remarkable historical venues and cultural events.  Bringing a sense of our “connectedness” to each community in addressing the strengths and needs will be a priority for ECCF as we move forward.  You know the saying, “A rising tide raises all ships”?  I’m hoping we can raise as many communities as possible by partnering with them so that everyone benefits.

I am very honored to be working the entire ECCF family to make the foundation grow and become the premier philanthropic institution in the County.  ECCF has many great resources and services available to help everyone who wants to make a difference locally.  I truly believe it is our privilege and responsibility to “give where you live.” 


Board Chair Statement

Essex County Community Foundation is the best place place for philanthropists to get help with their charitable giving in our region. Although the "big box" financial managers are efficient processors, community foundations can also offer the ability to be fully engaged in the local communities where the needs and nonprofits are and to provide information and advice to donors in order to ensure their charitable dollars are being used effectively.

Essex County Community Foundation — and other community foundations — have been helping donor advised fund-holders for decades with expert, personal, local insight regarding need, providers and opportunities for collaborative giving with other philanthropists in the communities where the donors live. Besides the obvious value of local presence, personal connection, and the leverage fostered through collaboration, the fees paid to the non-profit community foundations are re-investment in the local community. To ensure their charitable dollars are put to work most effectively, donors should carefully consider the proposition that their local community foundation is the best partner for their charitable giving efforts.

ECCF has succeeded in becoming an organization that provides the resources, education, funding and conversing which is so valuable to both local donors and the nonprofit community. In FY2014 ECCF provided $5.7 million in grants awarded through one of our 148 donor advised funds and the Foundation's Fund for Nonprofit Excellence; hosted two major conferences attended by over a thousand people; conducted workshops and consulting services on all aspects of managing a nonprofit; and brought together nonprofit leaders to network and share ideas, resources and best practices.


Geographic Area Served

In a specific U.S. city, cities, state(s) and/or region.
NORTHEAST REGION, MA

ECCF’s primary attention is on the 34 towns that comprise Essex County, Massachusetts.  However we do support donors who wish to award grants in other places of importance to them.  ECCF has made grants in 33 states and international organizations worldwide.  Nonprofit organizations from Eastern Massachusetts, southern Maine and New Hampshire also participate in CNE programs and services.

Organization Categories

  1. Philanthropy,Voluntarism & Grantmaking Foundations - Community Foundations
  2. Community Improvement, Capacity Building -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

1. Center for Nonprofit Excellence

ECCF launched the CNE to provide a comprehensive set of services and support with a mission of strengthening the nonprofit community. Components of the CNE include Capacity building workshops -- an extensive curriculum for boards, staff and volunteers; the Institute for Trustees (IFT) -- an intensive professional development program that educates several hundred leaders each year and a variety of other services and resources.

Budget  $969,202.00
Category  Community Development, General/Other Organizational Development & Training
Population Served General/Unspecified
Program Short-Term Success 

 

  • ·        Improve thoroughness and forecasting in the evaluation system for all CNE programs
  • ·        Increase capacity throughout CNE by 20% a year for three years
  • ·        Systematically and more thoroughly continue to bring national governance best practices to local nonprofit organizations
  • ·        Expand the IFT to include ongoing learning initiatives for trustees through more networking, peer groups and learning circles in 2014
  • ·        Increase marketing and outreach to serve 20% more nonprofit agencies and donors
  • ·        Introduce annual governance and leadership awards
  • ·        Inaugurate programs for donors modeled on those successful with Trustees
  • ·        Establish an Institute for Donors in 2014 modeled on the Institute for Trustees

 

Program Long-Term Success 
  • Deliver consistently high quality, professional education and training services to board and staff at Essex County nonprofit organizations.
  • To be the repository of information and an expertise on organizations and services in Essex County.
  • Achieve financial sustainability through a $11 million endowment and hire a Director
  • Expand funding for one-on-one capacity building support grants
  • Establish degree and certificate education programs in higher education institutions

 

Program Success Monitored By 
After each ECCF event or training, participants complete an online evaluation survey critiquing presenters, format and topics and offering suggestions for improvement. Feedback is used to immediately design upcoming educational programs and pay particular attention to new and recurring topics.
Examples of Program Success 
"Everything I know about managing a nonprofit, I have learned through ECCF" 
 
The above comment is just one of many similar comments from those who have benefited from the education and training services of the CNE.
 
Each year ECCF meets with over 1,500 trustees and executive directors who represent virtually all facets of Essex County’s nonprofit community. They participate in CNE events to learn about the best in board and organizational practice and network with peers. The Foundation also convenes peer groups to develop economies of scale and best practices.  Examples include: hunger relief organizations, local education events, arts groups and affordable housing agencies.
 

2. Donor Advised Funds and Charitable Giving

As part of its mission, ECCF works with donors to enhance the impact of their charitable giving. The Foundation does this primarily through its Donor Advised Fund program. A Donor Advised Fund is a flexible giving account that enables a donor to make a charitable contribution, and then make grant recommendations to support his or her favorite charitable programs. There are several advantages to establishing a Donor Advise Fund: they are simple to establish and use; with one contribution the donor can support multiple charities; and the donor receives a maximum charitable ECCF manages over 110 charitable funds that provide grants to hundreds of originations and 135 scholarships supporting students studying all over the world. The Foundation provides many options for deductions allowed for any type of asset given. ECCF provides grant services, information and expertise to assist donors in maximizing the impact of these donor advised funds. ECCF helps donors to make their charitable giving easy and rewarding and offers a wealth of knowledge about the nonprofits serving Essex County.

Budget  $10,000.00
Category  Philanthropy, Voluntarism & Grantmaking, General/Other Fundraising
Population Served General/Unspecified
Program Short-Term Success  Successes are listed in narrative.
Program Long-Term Success  Goals are listed in narrative.
Program Success Monitored By 
Program success monitoring will be identified through the Strategic Plan which should be approved in April 2015.
Examples of Program Success  The management of over 120 charitable funds which provide grants to hundreds of organizations countywide.

3. Youth at Risk (YAR)

Youth at Risk (YAR) conference, the only cross-disciplinary program in which professionals, representing health care, mental and behavioral health, law enforcement, teaching, research, counseling, the juvenile court system, clergy, special education, housing, nutrition, public advocacy, hunger, state legislature, and youth development agencies, from Essex County and beyond gather to learn.

Budget  $40,000.00
Category  Youth Development, General/Other Youth Leadership
Population Served General/Unspecified K-12 (5-19 years)
Program Short-Term Success 
  • YAR has set a goal of increasing the number of new attendees each year by 50 individuals

  • For participants to obtain Continuing Education Units (CEU).

  • To attract over 700 attendees representing 300 organizations  throughout Essex County. 

  • Provide a networking forum between those who share the common goal of helping at-risk youth succeed

  • Increase funding by 10% annually.
Program Long-Term Success 
  • To offer skill-building workshops on latest, best practice and research on  profession wellness, management and supervision, and fundraising and provide both inspiration and practical advice to attendees.
Program Success Monitored By 
  • A conference evaluation form is sent to all attendees. The results are tabulated and presented to and discussed by the YAR Committee within one month of the conference. 
  • All participants seeking CEU’s must return a survey. Feedback drives future programming.
Examples of Program Success 
"The subject matter is so important.  The conference was very well organized, the spirit was wonderful and the opportunities to counsel with other service providers and keynotes were amazing"  YAR Attendee
  
734 attendees representing 250 organizations attended the YAR Conference in 2012. This represented over 100 new participants over the 2011 Conference. 
 

4. Hunger Relief Initiative

Hunger Relief Initiative was formed in January 2009 with a mission to address and help alleviate hunger in our communities. The initiative is managed by ECCF with an Advisory Board representing the four sub-regional hunger networks (Haverhill, Lawrence, Lynn and North Shore).

Budget  $62,748.00
Category  Food, Agriculture & Nutrition, General/Other Hunger Action
Population Served Families Elderly and/or Disabled Homeless
Program Short-Term Success  Collaboration between hunger organizations throughout Essex County, Website, annual food drive and additional hunger resources and information.
Program Long-Term Success 

ECCF created and maintains the Essex County Hunger Relief site. The website has received 28,900 visits since it was we launched in 2009. 78% are new visitors. Monthly hits averaging 630. For a number of pantries, this is their only web presence and all food pantries report many clients have found them through the site.

The Advisory Council also encouraged ECCF to support their most critical food drive each year by partnering with our local letter carriers to distribute 175,000 grocery bags to residents in advance of the US Letter Carrier’s annual food drive. The food drive is the most important event of the year for local pantries, providing the food they need for the summer months when normal donations are at their lowest. Letter carriers collect nonperishable food donations as they deliver mail along their postal routes on the allocated date. The bags make the collections easier for donors and have resulted in as much as a 50% increase in donated food.

Program Success Monitored By 

The Hunger Initiative helps the 60+ food pantries, soup kitchens and community farms increase food supplies, access excess food and reach those in need with more food more frequently. ECCFs goals:

· Enhance and maintain the hunger website: Increase the number of website hits by 10%.

· Coordinate the production and funding of bags for U.S. Letter Carrier’s annual Food Drive: Increase the number of households who participate in the food drive.

· Encourage execution of projects to benefit Hunger Network pantries: Increase the number of mini-grants awarded to regional hunger networks.

· Strengthen leadership of hunger organizations: Increase the number of organizations attending IFT and workshops.

· Encourage Hunger Organizations to apply for ECCF Grants: Increase the number of hunger organizations receiving ECCF competitive grants by 25%.

Ultimately our success lies in the reduction of hungry families and individuals in our cities and towns.

Examples of Program Success 

The Essex County Hunger Relief Initiative helps citizens meet their most basic need for adequate nutrition and freedom from hunger by connecting those in a position to help with organizations that need donations and volunteer services, and to help these organizations gain access to excess food and maintain food supplies throughout the year.


5. Betty Beland Greater Lawrence Summer Fund

Modeled after the Associated Grant Makers Summer Fund in Boston, the Greater Lawrence Summer Fund (GLSF) annually supports programming for 12,000 young people in Greater Lawrence. Since 2001, GLSF has contributed more than $3 million to youth summer programs in Greater Lawrence.

Budget  $400,000.00
Category  Youth Development, General/Other
Population Served Children Only (5 - 14 years) K-12 (5-19 years) Poor,Economically Disadvantaged,Indigent
Program Short-Term Success 
  • Support for 50 agencies, primarily in Lawrence, but also in Methuen, Andover and North Andover, and to benefit more than 14,000 low-income children and teens.
  • Continue to expand donor base.
  • Increase funding for the program by 10%.
Program Long-Term Success 
  • Reducing summer learning loss to reduce achievement gap between low-income youth and their more affluent peers;
  • Encouraging significant support for safe, quality programs that enhance social, academic and emotional abilities;
  • Discouraging unhealthy youth behaviors by providing safe, summer-long alternatives.
Program Success Monitored By 
  • Minimizing staff costs and uncertainty associated with applying to multiple funders for support of their summer programs.
     
  • Evaluation and reports from all successful applicants
     
  • Site visits.
     
     
     
     
Examples of Program Success 
  • A healthy breakfast, lunch and afternoon snack to more than 2,500 children each weekduring the summer months. GLSF provides funding for drivers to deliver meals to sites throughout Lawrence.
  • A summer enrichment camp designed to address the multiple barriers to educational success experienced by many of the students enrolled at the school. Focused on ages 5 – 14, The Summer Institute at LFDCS has two components: an intensive academic program every morning focused on English Language Arts, Reading, and Math intended to bolster and remediate low achievement in these core academic subjects followed by an afternoon session that offers enrichment activities to expand the vision and horizons of our students; and it gives them a balance to the intensive morning classes.

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Mr. David Edwards
CEO Term Start Jan 2015
CEO Email [email protected]
CEO Experience

Dave Edwards began his term as CEO January 2015. He brings almost 15 years of successful leadership with community foundations and expertise in the nonprofit sector, and over 15 years of higher education administration experience in the Greater Boston area. Before coming to ECCF, he has served for eight years as a principal with Sutherland ~ Edwards LCC, Consultants to Philanthropy, a consulting firm that has worked with over 40 community foundations as well as regional and national nonprofits both nationally and internationally. Before that, Edwards was the founding CEO of the Community Foundation of San Luis Obispo County in San Luis Obispo, CA, where he oversaw all aspects of operations, asset development, marketing and endowment management. During his six-year term there, he worked with the board to grow the Foundation’s total assets from $60,000 to over $23 million. Edwards has deep ties to Essex County. His mother was born in Marblehead and his ancestral grandfather, Francis Norwood, came to Gloucester in the late 1600’s. He holds a certificate in strategic management for nonprofits from Harvard Business school and a master's degree in educational administration from the University of Vermont. Dave has immediate and extended family throughout the County.

Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
Mr. David Welbourn Jan 2008 Jan 2015

Senior Staff

Name Title Experience/Biography
Ms Julie Bishop Vice President of Grants and Services Julie joined ECCF in 2006.  She has over 25 years of experience in development, grants management and general nonprofit administration.  Prior to ECCF, she was the Grants Manager at S.A.F.E. Studio in Ipswich and Director of Education at the Wenham Museum.  Julie was also Director of Planning for TERI (The Education Resources Institute) in Boston.  She has considerable volunteer experience in Essex County including past board service with the House of Seven Gables, Hamilton-Wenham Education Fund, Community Services of Hamilton-Wenham, Inc. and the Wenham Village Improvement Society.  She currently serves as a Trustee of Wellspring House in Gloucester. Julie holds a B.S. from St. Lawrence University and an Ed.M. from the Harvard Graduate School of Education
Mr Jay Caporale Executive Vice President & Director of Philanthropy Jay joined ECCF in August 2010 after 21 years in senior management and a partner at Ruotolo Associates Inc., a national consulting firm which provides philanthropic counsel to nonprofits. Jay’s expertise includes capital campaigns, strategic planning, and development office operations with a special emphasis on board development and major gifts. Before joining Ruotolo Associates, Jay’s professional experiences were in the political arena. He was Director of Community Relations and Economic Development for U.S. Congressman Chester G. Atkins of Massachusetts. Jay currently serves as Vice Chair of the Board of the Lanam Club, Andover, MA, and Vice Chair of the North Andover Youth Center Foundation.   Jay previously served for three years as Chair of the Board of Directors of UNICEF New England and was also on the President’s Council of Merrimack College, from which he graduated with a Political Science and Economic degree.

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
Council on Foundations - Member 1998
Member of state association of nonprofits? Yes
Name of state association Massachusetts Nonprofit Network

External Assessments and Accreditations

External Assessment or Accreditation Year
Council on Foundations National Standards --

Collaborations

--

CEO/Executive Director/Board Comments

--

Foundation Comments

--

Staff Information

Number of Full Time Staff 6
Number of Part Time Staff 1
Number of Volunteers 400
Number of Contract Staff 3
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 100
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 80
Male: 20
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers --
Management Succession Plan Under Development
Business Continuity of Operations Plan No
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

--

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Mr Jon Payson
Board Chair Company Affiliation Partner/SVP Wellington Management (retired)
Board Chair Term July 2013 - June 2016
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Ms. Tracy Abedon Filosa Investment Director, Cambridge Associates LLC Voting
Ms Karen Ansara Community Volunteer Voting
Ms Mollie Byrnes Community Volunteer Voting
Mr. Benjamin Chigier Entrepreneur Voting
Mr Steve Cohen The Negotiation Skills Company --
Mr Matthew Doring Hinckley, Allen & Synder LLP Voting
Ms Theresa Ellis Liminality Partners Voting
Mr. Benigno Espaillat Retired, Director, Hispanic Office, Boston Archdiocese Voting
Mr Robert Fanning Northeast Health Systems (retired) Voting
Ms Susan Gray Community Volunteer Voting
Mr Allan Huntley No affiliation Voting
Mr. John Knowles Institute for Health Metrics Voting
Dr. Patricia Maguire Meservey Salem State University Voting
Mr Jon Payson Wellington Management Company LLP (retired) Voting
Ms Maureen Pompeo Nonprofit Intermediary Voting
Mr Richard Sumberg The Financial Advisors Voting
Mr. Kevin Tierney Saugusbank Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 85
Hispanic/Latino: 15
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 3
Male: 8
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits 3
Board Meeting Attendance % --
Written Board Selection Criteria Under Development
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions 100%
Constituency Includes Client Representation Yes

Standing Committees

  • Board Governance
  • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
  • Distributions / Grant Making
  • Finance
  • Investment

CEO/Executive Director/Board Comments

In addition to a very committed and active Board of  Trustees we are fortunate to have over 100 individuals who serve on our Committees who enable us to achieve as much as we do, and keep abreast of the continuing challenges and opportunities facing Essex Community. 
 
Between them the Trustees are on over 100 boards and have been involved in 13 fundraising campaigns. 

Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Fiscal Year July 01, 2014 to June 30, 2015
Projected Income $1,287,474.00
Projected Expense $1,179,299.00
Form 990s

2013 990

2012 990

2011 990

2010 990

Audit Documents

2014 Annual Audit

2013 Annual Audit

2012 Annual Audit

2011 Annual Audit

2010 Annual Audit

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2014 2013 2012
Total Revenue $12,208,975 $7,992,064 $3,578,418
Total Expenses $7,505,602 $5,560,428 $3,161,314

Prior Three Years Revenue Sources

Fiscal Year 2014 2013 2012
Foundation and
Corporation Contributions
-- -- $1,644,586
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $8,639,200 $5,999,311 $1,835,730
Indirect Public Support -- -- --
Earned Revenue $156,921 $142,815 $137,105
Investment Income, Net of Losses $3,175,092 $1,837,940 $-154,149
Membership Dues -- -- --
Special Events $237,762 $11,998 $115,146
Revenue In-Kind -- -- --
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2014 2013 2012
Program Expense $6,779,442 $4,992,491 $2,609,421
Administration Expense $322,675 $237,559 $247,828
Fundraising Expense $403,485 $330,378 $304,065
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.63 1.44 1.13
Program Expense/Total Expenses 90% 90% 83%
Fundraising Expense/Contributed Revenue 5% 5% 8%

Prior Three Years Assets and Liabilities

Fiscal Year 2014 2013 2012
Total Assets $26,451,272 $21,342,520 $18,764,384
Current Assets $161,316 $480,009 $212,495
Long-Term Liabilities $1,495,514 $1,247,680 $1,249,032
Current Liabilities $410,790 $253,245 $105,393
Total Net Assets $24,544,968 $19,841,595 $17,409,959

Prior Three Years Top Three Funding Sources

Fiscal Year 2014 2013 2012
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy N/A
Percentage(If selected) --
Credit Line No
Reserve Fund Yes
How many months does reserve cover? 4.00

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2014 2013 2012
Current Ratio: Current Assets/Current Liabilities 0.39 1.90 2.02

Long Term Solvency

Fiscal Year 2014 2013 2012
Long-term Liabilities/Total Assets 6% 6% 7%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in the charts and graphs above is per the organization's audited financials. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

ECCF’s ultimate goal is to impact lives, solve problems and improve futures for all of the organizations and residents of Essex County.

As many residents grapple with limited resources and a growing need for services, ECCF is determined to bring our community partners together to find innovative and effective solutions for some of our most challenging social problems.

ECCF aims to make available resources and services that will strengthen the communities in Essex County in a multitude of ways including providing the means for a wide range of donors to create permanent funds to meet critical community needs. ECCF routinely works with families, individuals, attorneys and estate and financial planners to design gift plans that fit every economic situation, ensuring that donors receive the most benefit from their charitable contributions and that their philanthropic dollars are used to the fullest extent. We accept gifts of various sizes and types from private citizens, local corporations, other foundations and government agencies. ECCF funds are invested in diverse portfolios and management is a major aspect of our work.

ECCF is primarily focused on increasing philanthropy through increased giving, better strategies for use and stronger connections between donors and recipients. However another ECCF goal is to support nonprofit organizations by awarding grants and providing learning opportunities including workshops, consulting and conferences. Through this training, nonprofit leaders receive knowledge and expertise in all aspects of running a successful organization.

ECCF also strives to build collaborations by convening interest groups and talking with individuals and nonprofits throughout the County to learn about the issues and needs of the people in our region. We bring together peer groups with a goal to create solutions to address these needs and help make Essex County a better place for all.


2. What are your strategies for making this happen?

ECCF will achieve this by growing our assets, making more and larger grants to nonprofits and being strategic in our community leadership agenda.


3. What are your organization’s capabilities for doing this?

ECCF staff is deeply experienced in nonprofit leadership and development across the full spectrum of charitable interests. In addition we have $25 million in assets and made $5.7 million in grants last year.

Members of ECCF's Investment Committee are highly skilled and vastly experienced:

Tracy Abedon Filosa, Enterprise Investment Director for Cambridge Associates. Previously founder and principal for TAF Consulting providing planning, analysis and narrative presentations of financial issues for colleges, universities and schools. Tracy earned a MBA from Boston University with a certificate in public and nonprofit management.

Joe Knowles, President and CEO of the Institute for Health Metrics.  Joe is an experienced entrepreneur focusing on enterprise development. Before IHM Joe was co-founder of Brooktrout Technologies, a leading voice-processing firm. Joe is a frequent speaker on enterprise creation and development for the MIT Enterprise Forum.

Brinck Lowery is President of Foster Dykema Cabot, a private wealth management firm that provides investment and estate planning. Prior to that he worked in the pension investment division of Bankers Trust Company in New York. Brinck earned a BA at Middlebury College and MBA at Harvard Business School.

Myranda "Mimi" O'Bara, Oakmont Partners, has spent the past 25 years devoted to serving individual, small businesses, and not-for-profit organizations by developing and implementing investment strategies and setting portfolio structure. Previously Mimi held senior positions at PNC Bank, New England, and was a founding partner of Johnson Illington Advisors.

Jon Payson graduated from Yale University with a BA in Economics and Political Science. Jon is Sr. Vice President and partner of Wellington Management Co., LLP. He served in a variety of management roles at Wellington, overseeing a global relationship management group and the firm's corporate operations.

Richard Sumberg is CEO of The Financial Advisors, a comprehensive financial planning and investment firm he founded. Dick received a BSBA from Boston College and an MBA from Suffolk University.

Kevin Tierney Sr. is President & Chief Executive Officer and Director of Saugusbank. Previously Kevin served as Executive Vice President and General Manager of BISYS Group’s Corporate Financial Solutions Division, Executive Vice President and COO of Abington Bancorp, and Executive Vice President and General Manager of a division of Electronic Data Systems Inc. He attended Northeastern University and earned a Masters in Banking from Sheshunoff Banking Institute at Louisiana State University.

Joseph Trainor has over 26 years of financial and investment experience. Joe serves as the Head of the Boston Hill Advisors Investment Committee and has primary responsibility for investment decisions. Previously Joe was Managing Director U.S. Trust, President of U.S. Trust Institutional, President MFS Institutional Advisors, Chief Investment Officer Partners HealthCare System, Deputy Treasurer Partners HealthCare System, Chief Financial Officer Brigham and Women's Hospital, and Treasury Manager Honeywell Information Systems.

John Walsh serves as the Office Head for Brown Brothers Harriman's Boston Wealth Management. Prior to joining BBH, John worked as a commercial banker for Bank of New England and a consultant for Bain & Co. John started at BBH advising owners of successful, privately held companies in the sale of their companies. He then joined BBH's private equity business and spent six years as one of five partners overseeing the investment of a $377 million mezzanine debt/equity fund. John received his BA in Economics and Mathematics from Dartmouth College.

Approximately 50 nonprofit leaders are key advisors and participants in CNE representing interests as varied as youth-at-risk, environmental and historic preservation, schools, domestic violence prevention, elder services, hunger, and affordable housing.


4. How will your organization know if you are making progress?

A strategic plan has been drafted and will be discussed and approved by the Board on April 11, 2015.  The plan will include measurement, milestones, targets and action items.

5. What have and haven’t you accomplished so far?

Accomplishments 

ECCF currently managers 148 Charitable Funds and oversees $27 million in assets.

We provide investment management and expert guidance, and customize each fund to meet the donor's philanthropic intentions. Our family of funds supports thousands of charitable programs and students in Essex County, as well as international programs and institutions.

ECCF also offers a variety of professional development options for nonprofits through workshops, the Institute for Trustees, Youth at Risk Conference and more.

Since it began in 1998, ECCF has awarded more than $25 million in grants and scholarships to more than 5,000 students and organizations and have provided professional development services to more than 12,000 nonprofit leaders.

Moving Forward

ECCF expects: 

An expansion of the IFT program, larger curriculum of workshops, and more counseling will grow capacity of the Center by 20% each year.

Long-awaited new collaborative for nonprofits in affordable housing, aging, and performing arts are currently underway.

New offerings for nonprofits in high priorities like human resources and technical support will be provided.

New donor education services are being initiated to support wiser, more proactive philanthropic giving. We will further connect like-minded donors with each other and the needs in the community, and particularly within sectors.

ECCF will survey best practices nationally to launch a next generation program on philanthropy and trusteeship.