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Community Foundation for Nantucket

 117 Orange Street, PO Box 204
 Nantucket, MA 02554
[P] (508) 825-9993
[F] --
WWW.CFNAN.ORG
[email protected]
Margaretta Andrews
Facebook
INCORPORATED: 2006
 Printable Profile (Summary / Full)
EIN 13-4316755

LAST UPDATED: 07/03/2017
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

 

Our mission is to strengthen Nantucket now and for future generations through informed philanthropy and community leadership.

In pursuit of this mission we act as a:

Steward – by creating and managing funds to ensure a legacy for charitable solutions

Grant Maker – by awarding grants through the Nantucket Fund™ and donor-directed funds that respond to pressing needs

Charitable Resource – by maintaining in-depth knowledge of the non-profit sector, and by providing resources for donors, non-profits, and the community

Catalyst – by mobilizing community leadership to affect collaborative solutions for Nantucket’s most critical issues

Mission Statement

 

Our mission is to strengthen Nantucket now and for future generations through informed philanthropy and community leadership.

In pursuit of this mission we act as a:

Steward – by creating and managing funds to ensure a legacy for charitable solutions

Grant Maker – by awarding grants through the Nantucket Fund™ and donor-directed funds that respond to pressing needs

Charitable Resource – by maintaining in-depth knowledge of the non-profit sector, and by providing resources for donors, non-profits, and the community

Catalyst – by mobilizing community leadership to affect collaborative solutions for Nantucket’s most critical issues


FinancialsMORE »

Fiscal Year Jan 01, 2017 to Dec 31, 2018
Projected Income $556,060.00
Projected Expense $472,990.00

ProgramsMORE »

  • Charitable Funds
  • The Nantucket Fund™

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

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


Overview

Mission Statement

 

Our mission is to strengthen Nantucket now and for future generations through informed philanthropy and community leadership.

In pursuit of this mission we act as a:

Steward – by creating and managing funds to ensure a legacy for charitable solutions

Grant Maker – by awarding grants through the Nantucket Fund™ and donor-directed funds that respond to pressing needs

Charitable Resource – by maintaining in-depth knowledge of the non-profit sector, and by providing resources for donors, non-profits, and the community

Catalyst – by mobilizing community leadership to affect collaborative solutions for Nantucket’s most critical issues


Background Statement

We are a Community Foundation whose mission is to connect people who care with causes that matter to them on Nantucket.  Established in 2006, we have provided financial and other support for local nonprofits, and encouraged philanthropy island-wide. Volunteer based until a part-time Executive Director was hired in 2008, CFN has accomplished a great deal, primarily in support of Nantucket nonprofits. The Foundation had grown significantly in the past few years, and now has a staff of 3 1/2 FTEs.  CFN is uniquely positioned to maintain a broad based view of all local nonprofits, and continues to award community grants to those organizations whose programs and services most closely align with the community needs identified below.

Impact Statement

The Community Foundation's primary focus continues to be grant making in support of our local nonprofits.  To that end, we award grants annually through the Nantucket Fund.  Through the organization's first ten grant cycles, over $650,000 has been awarded through this fund, and we are hoping to begin to endow the fund to ensure future support.
 
 We see a Nantucket where everyone, equally and inclusively,
  • has a place to call home,
  • has support when coping with personal struggles,
  • knows their children are safe and active during the work day,
  • can rely on year-round, affordable public transportation,
  • and may age gracefully with trust in the services they need and deserve.

Needs Statement

The Community Foundation has gathered thought leaders together for several years to discuss the most significant needs of the Nantucket community, and to ask for their help in prioritizing those needs.

 
For the past two years the areas below have risen to the top of this list:
   Access to Affordable Work Force Housing
   Behavioral Health and Substance Use Disorders
   Affordable Child Care
   Year-round Public Transportation
   Care for Elders
 

CEO Statement

The Community Foundation for Nantucket has seen a dramatic increase in community exposure and understanding in our first ten years, and we are proud of the various and creative ways we have been able to help the community.  Our assets have grown exponentially, as has our grant making, and we look forward to the next ten years to determine how best to support Nantucket.

Board Chair Statement

The Community Foundation for Nantucket has experienced significant growth in the last few years in terms of asset size, grant-making, and staffing. We have been fortunate to grow our unrestricted community grant vehicle, the Nantucket Fund and to increase our visibility by convening community leadership to help us align our grant-making with the critical needs and we are proud of our progress. Funding our own operations is one of our biggest challenges and both our board and staff work hard to cultivate our donor base and keep them connected to our work. Planning for sustainability of our operations is a key focus of our board's strategy. This is not just a matter of funding but also ensuring that we represent our community in an inclusive and collaborative manner on our committees, on our board and in our offices and ultimately in our grant making.    Every year when I review our grants, I become more passionate about our work and look forward to expanding our friends and family....


Geographic Area Served

CAPE &ISLANDS REGION, MA

The Community Foundation serves Nantucket Island, Massachusetts

Organization Categories

  1. Philanthropy,Voluntarism & Grantmaking Foundations - Community Foundations
  2. -
  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

Charitable Funds

 

A gift of $10,000 or more can establish your named fund at the Community Foundation for Nantucket. The income from these funds is distributed annually as grants and scholarships, supporting the nonprofit organizations and causes that mean the most to you.


 

  • Donor advised funds offer the greatest flexibility and encourage donors to play an ongoing role by recommending grants to charitable organizations.
  • Donors who wish to support specific program initiatives, causes or geographic areas often elect to establish a field of interest fund. Giving circles are a perfect example of this.
  • A designated fund can provide ongoing support to a favorite nonprofit organization(s). If the designated charity ceases to exist, we honor donor intent by selecting alternative nonprofit(s) providing similar services.
  • An organizational fund can allow a nonprofit organization to invest its operational assets and house its endowed monies so the organization will be protected for future needs.
  • Donors can establish scholarship funds to benefit students at all educational levels.

 

 
Budget  $0.00
Category  Philanthropy, Voluntarism & Grantmaking, General/Other
Population Served General/Unspecified
Program Short-Term Success 
We have increased the number of funds under management since 2008 from 7 to 90.
Program Long-Term Success 
The Community Foundation is committed to improving the quality of life on Nantucket by increasing philanthropy of all kinds.
Program Success Monitored By 
CFNan Executive Director and Board of Trustees
Examples of Program Success 
We now manage 44 Donor Advised and Designated Funds for individuals and organizations, helping them to coordinate their philanthropy on Nantucket and elsewhere.  We also hold 26 Field of Interest Partner and Project Funds, assisting groups who are working on short or long term community initiatives.  14 Scholarship Funds award annual grants to Nantucket graduates and community members to offset the costs associated with ongoing educational pursuits, and 4 Organizations Funds provide investment opportunities to our local nonprofits.  We are always looking for ways to provide ongoing support for our Island, and through the Nantucket Fund, through which we award Community Grants at the discretion of our Board of Trustees, have given grants totaling over $650,000 in the past 10 years.

The Nantucket Fund™

The Community Foundation awards Community Grants at the discretion of our Board of Trustees through The Nantucket Fund™.  Nantucket nonprofits are encouraged to apply for support annually.  We see a Nantucket where everyone - equally and inclusively - has a place to call home, has support when coping with personal struggles, knows their children are safe and active during the work day. can rely on year-round, affordable transportation, and may age gracefully with trust in the services they need and deserve.
Budget  $150,000.00
Category  Philanthropy, Voluntarism & Grantmaking, General/Other Comprehensive Grantmaking
Population Served General/Unspecified
Program Short-Term Success  On July 11th, 2017 we will award $160,475 through the Nantucket Fund to 22 different charities at our annual Grant Recipients Breakfast.  Our website lists the grant recipients as well as the % of awards by sector at www.cfnan.org/community-grants/the-nantucket-fund/current-grants/
Program Long-Term Success  The long term success of this discretionary grant making will be determined when all of the visions above are realized.  The Island of Nantucket is looking as a community at various need assessments and quantitative measured to determine how successful we will be as a community in addressing our most significant needs, which are currently access to affordable work-force housing, behavioral health and substance use disorders, affordable child care and youth servces, elder services, and affordable year-round public transportation.
Program Success Monitored By  Each year since 2007, which was the first Grants cycle administered by the Community Foundation, we have been able to increase the amount we have available to award.  Our donor base has increased significantly, allowing us to give more sizable grants each year.  Cumulatively, CFN has awarded over $800,000 through this unique grant giving fund.
Examples of Program Success  We have dozens of testimonials from our grant recipients about how our support has made a difference in how they provide service to our community.  Our Grant Recipients Breakfast is a wonderful opportunity to hear their stories about the impact they are having on Nantucket as a result of the Nantucket Fund.

CEO/Executive Director/Board Comments

Our biggest challenge as a Board is to raise the money to cover the expenses of operating the Foundation.   The small administrative fee we charge for the Funds we administer covers less than 25% of our costs.  We need to clarify to donors and grantees that making a donation "made payable to the Community Foundation" for a component fund does not directly support our operating costs.

Management


CEO/Executive Director Ms. Margaretta Stabler Andrews
CEO Term Start Oct 2008
CEO Email [email protected]
CEO Experience
Over 30 years of nonprofit Board and Committee experience, including 7 years as the Chair of the Nantucket Cottage Hospital Board of Trustees.  Participation in a wide variety of Community initiatives and activities.
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? Yes
Name of state association Massachusetts Nonprofit Network

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

As a Community Foundation, we collaborate on community issues with every other Nantucket 501c3 - there are approximately 110 charities on Nantucket.  Currently we are partnering with Nantucket Cottage Hospital on a community initiative which will support local nonprofits with $4.25 million in grants over the next 5 years.

CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 3
Number of Part Time Staff 1
Number of Volunteers 0
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 4
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 4
Male: 0
Not Specified 0

Plans & Policies

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

Risk Management Provisions

Commercial General Liability and D and O and Umbrella or Excess and Automobile and Professional

Reporting and Evaluations

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

Governance


Board Chair Ms. Victoria McManus
Board Chair Company Affiliation The Greenbriar Companies
Board Chair Term Aug 2016 - Sept 2017
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Ms Marsha Egan Community Volunteer Voting
Mr. Robert Felch Community Volunteer Voting
Mr. Andrew Forsyth Community Volunteer Voting
Sen. William Frist M.D. Community Volunteer Voting
Ms. Ellen Hoeffel community volunteer Voting
Mr. Tucker Holland Community Volunteer Voting
Rev. Gary Klingsporn Community Volunteer Voting
Ms Marsha Kotalac community volunteer Voting
Ms. Griselda Lyman Community Volunteer Voting
Ms. Victoria McManus community volunteer Voting
Ms. Susan Ottison community volunteer Voting
Ms. Melissa Philbrick Community Volunteer Voting
Ms. Magdalena Reid community volunteer Voting
Mr. Geoffrey Smith community volunteer Voting
Mr. Robert Tichio Community Volunteer Voting
Mr. Geoffrey Verney Community Volunteer Voting
Ms. Cathy Ward Community Volunteer 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: 17
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 9
Male: 8
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits 2
Board Meeting Attendance % 75%
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation No

Standing Committees

  • Distributions / Grant Making
  • Executive
  • Finance

CEO/Executive Director/Board Comments

As many nonprofits do, we continue to struggle with finding committed Trustees who are reflective of our community.  Our Governance Committee strives to reach out to individuals in what has become a vibrant and diverse community, and has had limited success in bringing a variety of voices to our table.

Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Fiscal Year Jan 01, 2017 to Dec 31, 2018
Projected Income $556,060.00
Projected Expense $472,990.00
Form 990s

2016 990

2015 990

2014 990

2013 990

2012 990

2011 990

2010 990

2009 990

Audit Documents

2016 Audit

2015 Audit

2014 Audit

2013 Audit

2012 Audit

2011 Audit

2010 Review

2009 Review

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 2014
Total Revenue $5,616,288 $1,826,004 $2,706,822
Total Expenses $2,757,010 $1,554,895 $2,009,361

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 2014
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $5,320,685 $1,768,505 $2,432,086
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses $125,229 $-1,783 $110,105
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind $36,000 $34,260 --
Other $134,374 $25,022 $164,631

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 2014
Program Expense $2,538,328 $1,410,329 $1,893,162
Administration Expense $137,701 $108,295 $86,716
Fundraising Expense $80,981 $36,271 $29,483
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 2.04 1.17 1.35
Program Expense/Total Expenses 92% 91% 94%
Fundraising Expense/Contributed Revenue 2% 2% 1%

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 2014
Total Assets $6,773,955 $3,912,074 $3,561,780
Current Assets $2,160,717 $1,686,656 $1,246,954
Long-Term Liabilities $0 $0 $0
Current Liabilities $302,499 $299,896 $220,711
Total Net Assets $6,471,456 $3,612,178 $3,341,069

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 2014
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value $932,964.00
Spending Policy Percentage
Percentage(If selected) 5.0%
Credit Line No
Reserve Fund No
How many months does reserve cover? 0.00

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal $0.00
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? Yes

Short Term Solvency

Fiscal Year 2016 2015 2014
Current Ratio: Current Assets/Current Liabilities 7.14 5.62 5.65

Long Term Solvency

Fiscal Year 2016 2015 2014
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

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

Documents


Other Documents

No Other Documents currently 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?

Our mission is to strengthen Nantucket now and for future generations through informed philanthropy and community leadership. In pursuit of this mission we act as a:

Steward – by creating and managing funds to ensure a legacy for charitable solutions
Grant Maker – by awarding grants through the Nantucket Fund™ and donor-directed funds that respond to pressing needs
Charitable Resource – by maintaining in-depth knowledge of the nonprofit sector, and by providing resources for donors, nonprofits and the community
Catalyst – by mobilizing community leadership to affect collaborative solutions for Nantucket’s most critical needs
 
The current Strategic Plan identifies three primary goals which will guide our direction for the next 3-5 years.  These include:
 
1. Develop and maintain funds to serve as a permanent legacy for charitable giving on Nantucket.
 
2. Serve as the leading information and education resource on community needs for donors and nonprofit organizations across all sectors.
 
3. Develop best in class organizational leadership to advance the Strategic Plan.

2. What are your strategies for making this happen?

Strategies for developing and maintaining funds include establishing the Nantucket Fund™ as the primary fund for grants directed by the Foundation.  This fund provides grants to financially support and focus attention on the Island's most critical community needs and initiatives.  We look to increase the Nantucket Fund™ annual grant making to $300,000 per year within 5 years, which we will do by soliciting major donors who will make multi-year commitments at a significant level.  We also will continue our efforts to provide passive, disciplined management for donor advised funds that underscore grant making opportunities for personal and institutional philanthropy, and donor-directed funds that align with identified community issues.
 
Strategies to achieve Goal #2 include convening community members regularly to identify key community needs, causes and possible solutions.  We also maintain a comprehensive knowledge of local nonprofit organizations, with a focus on the less well funded nonprofits.  We have conducted several surveys to solicit responses from our nonprofit community, most recently about how the housing crisis on Nantucket is affecting their ability to provide the services our community relies on.
 
Finally, our Board of Trustees is fully committed to developing our organizations staff and resources necessary to fulfill our mission, and have approved significant increases in staffing as well as professional development.
 

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

Our staff knows our nonprofit community, and collectively represent decades of experience and expertise in the nonprofit sector as both employees and Board members of local charities on Nantucket.

We are fortunate to have a very engaged Board. They represent various sectors of our seasonal and year-round community and expand the network of support available to the Community Foundation.

We have a very active Grants Committee. Applications for the Nantucket Fund ™are solicited from our local nonprofits, and each applicant receives a site visit when appropriate from a member of this committee. We have recently increased our staff, adding a full time Office Manager in 2016, and most recently a full time Program/Development Coordinator in 2017. These additions allow the Community Foundation to perform more thorough due diligence around grant follow up, as well as more staff support for our Grants Committee as they review grant applications.

The Community Foundation is a member of the Council on Foundations, the Massachusetts Association of Grantmakers, the Massachusetts Nonprofit Network, and the Cape and Islands Philanthropy Partners.


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

Community Foundations measure impact in many different ways. The primary goal of any organization is to grow in order to expand its reach within the community, and CFN has grown dramatically over the past 5 years. Total assets through have increased from $1.7 million in 2012 to $6.8 million in 2016. The number of charitable funds under management grew from 31 to 90. Our staff has increased from 1 full and 1 part-time, to 3 full and 1 part-time employees,  and most importantly, annual grants awarded through all of those funds, including the Nantucket Fund™, have risen from $179,000 to $1.75 million. We have three separate grant cycles now, and anticipate awarding well over $2 million in grants to our local Nantucket nonprofits in 2017.

After awarding Community Grants through the Nantucket Fund™, we follow up with our grantees to determine their impact on the community made possible through our support. With the addition of a full time staff member to assist our Program Director, this process is much more streamlined, and we are able to share with our donors many of the stories we gather.

We convene thought leaders around community issues regularly, and over the past two years have held three by-invitation and community-wide forums to discuss the housing crisis facing Nantucket. We are certain that these gatherings provided an extra impetus to strategize about possible solutions to an issue that is threatening our community more with every passing day. We have a September meeting planned with our Advisory Committee in order to engage this diverse group of Nantucketers in the prioritization of the most significant community needs so that we may continue to be as strategic as possible with our Nantucket Fund™ grant making.


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

We outlined our significant growth above, and are proud of what we have been able to accomplish in a very short period of time.

Ideally we are looking to endow the Nantucket Fund™ to a size that would ensure our legacy of philanthropy on Nantucket. Our Strategic Plan addresses strategies to achieve this goal, and both our staff and Board are looking forward to implementing them.

There are several ongoing community initiatives aimed at better measurement of the most pressing needs, and how effective ongoing efforts are to address them. The Community Foundation is typically a part of these initiatives in some way, but we would love to be a more significant driver of these efforts, perhaps as a major funder. We would also look to take more of a leadership role in creating some sort of Center of Nonprofit Excellence. Nantucket presents unique challenges around travel, and access to ongoing professional development, and a future goal would be having the Community Foundation recognized as the primary source of knowledge about and access to resources in this area.  Nationally we foresee a significant turnover in the nonprofit world as long time CEOs and EDs resign, and Nantucket is especially vulnerable due to the extremely high cost of living. We need to invest in our younger colleagues so they can continue the extraordinary work our nonprofits are doing now into the future.