February 2010

February 3rd, 2010

This blog post is really an invitation for feedback about an idea. Foundation staff are actively doing our homework on the possibility of launching a new endowment to support nutrition programs in community organizations and schools. Having adequate food continues to be a major challenge in Winnipeg and, while the Foundation cannot solve this problem, we could augment and enhance the resources that are currently available.

About seven years ago, we introduced the Literacy for Life Fund to provide financial support for family literacy – intergenerational programs where children and parents read and learn together. It was a niche that we felt needed to be filled. Today the Literacy for Life Fund is capitalized with over $2 million and about 200 grants have been paid to community agencies. It has been rather remarkable to see how these modest grants are making a meaningful difference for local families.

Our research suggests that Winnipeggers are very sympathetic to the issue of food security. Everyone seems to agree that in a country with such wealth, it is simply wrong that children and young people should go to school or to bed hungry. Foundation staff recently met with representatives of about 15 agencies that have knowledge and experience in addressing this issue. We heard from a variety of different perspectives that there are many challenges.

The question we must ask ourselves is: should the Foundation, as a grant-making and endowment-building organization, take a stronger and more proactive stance on nutrition? We already make grants specifically into this area and, of course, we support a wide range of community charities that are also providing support. Where does the role of philanthropy end and public policy take over? Should public policy be providing more support and encouragement to philanthropy as an efficient and less costly alternative to government programs?

Our current idea is to create a $5 million endowment that would generate about $250,000 annually to augment the resources currently available to address a problem that does not seem to be going away. Providing nourishment to our children so they can reach their potential is obviously a good cause. My question is: would you be willing to donate to a special endowment-building effort or do you see community need in this area as something that must be balanced with many other good causes? I welcome your feedback.

January 2010

January 6th, 2010

We have always said that endowments create a long-term sustainable and predictable revenue stream and without question, this claim was put to the test in 2009. I’m proud to say we delivered on our promise. Last year, The Winnipeg Foundation made grants to 670 different charities and reached over the $20 million level for the first time!

Especially in times of financial turmoil, it is important to demonstrate accountability and transparency. Spending money while the markets were falling in dramatic fashion required a policy framework. There are obvious and legitimate questions around how exactly The Winnipeg Foundation reached its decisions during the recent financial downturn. Our Board certainly understands its dual responsibility to support the community today and to protect the capital in our funds for the future. When these goals come into conflict, as they certainly did in 2008 and 2009, we believe that maintaining the balance is a long term, as opposed to a one-year, strategy. This explanation is well documented in our recent report entitled A Policy for All Seasons.

Traditionally, financial statements compare the current year to the past year. But looking at 2009 in the context of 2008 really does not show the whole picture. To truly understand how The Winnipeg Foundation has fared in unusually volatile market conditions, I believe you need a five-year picture. With this in mind, we’ve produced a report called Investing in Turbulent Times, a companion document to our Annual Report. It provides a more complete picture from a variety of perspectives.

On January 20th, our 2009 Annual Report will officially be released. In the past, we have placed a multiple page insert in the Winnipeg Free Press. This year, our insert is only one page. I believe this special report on Investing in Turbulent Times is a better use of our budget and encourage anyone reading this blog to ask for a copy or download it from our website later this month.

And again this year, I am looking forward to a series of public presentations in various locations around the city (click here for a schedule). These take place during the week of January 25th to 29th and offer anyone the opportunity to learn more and ask questions about the work of The Winnipeg Foundation. I hope to see you there, where I can tell you more in person about the good causes the Foundation has supported in the past year.