We believe in creating a city where everyone feels that they belong, can be who they are and love whomever they choose. In honour of #PrideMonth, we’re spotlighting five programs we support that serve LGBTQ+ people.
Queer and trans youth collaborative
The Rainbow Railroad
Rainbow Prom
Trauma-sensitive yoga
Kaleidoscope
Honourable mention: The Unicorn Fund
Our Future Intended blog is an ongoing series that spotlights some of our most recent granting in areas such as physical activity, Indigenous communities, literacy, food, community theatre, seniors and more.
The latest Vital Signs data on seniors in Hamilton suggests that the number of people aged 65 and older is significantly increasing. Hamilton can and must be an age-friendly city. We are working towards that goal by supporting a number of programs that provide services for seniors.
Hamilton rural seniors’ grocery bus project
Music for Memories
Senior Women4Change learning series
Seniors’ symphony experience
Aging Artfully
Would you like to learn more? Check out this Vital Signs chat with experts discussing the latest data on seniors and aging in Hamilton. You can also watch this episode of Vital Signs TV called Is Hamilton an age-friendly city?
Our Future Intended blog is an ongoing series that spotlights some of our most recent granting in areas such as physical activity, Indigenous communities, literacy, food, community theatre and more.
With such a rich heritage of live theatre in Hamilton, it certainly does feel as though “all the world’s a stage”! Here are just a few examples of programs and organizations supported through HCF grants that enhance Hamilton’s tradition of live theatre.
Operating support for community theatre is key to a thriving performing arts culture. Through the Alfred & Joan Robertshaw Memorial Fund, we’re proud to support the day-to-day operations of a number of local theatres including Theatre Ancaster, Hamilton Theatre Inc., Players’ Guild of Hamilton Inc., Village Theatre Waterdown and Theatre Aquarius. Read more about the Robertshaws’ love story and community theatre legacy here.
The professional development of a new generation of artists in Hamilton is essential to sustaining our city’s cultural renaissance. The Artistic Leadership and Entrepreneurial Training Program is an arts education initiative from Hamilton Festival Theatre Company that does exactly that. Participants work with theatre artists and mentors to develop their skills and their own works, attend a diverse range of performances, and help mount the annual Frost Bites Festival.
Students in elementary and secondary school get a taste of the Bard through this program that turned 20 last year. But the experience is also designed to enhance confidence and communication skills. Through the work of Shakespeare, students develop soft skills that help them in future endeavours, both in their personal and professional lives.
The performing arts should be enjoyed by everyone. Theatre Aquarius makes good on this idea by providing 160 no-cost registrations for various education programs to youth who would otherwise be unable to afford them. These programs help participants develop life-skills and self-expression, working to increase diversity and instil a passion for the arts.
After last year’s Connect Theatre Project presentation of Guys and Dolls, Dundas residents are in for another special treat this summer. Local youth will flex their creative muscles for a production of Mamma Mia! No Dundas high school currently runs a musical theatre program so this project, rehearsed and performed at Dundas Baptist Church, provides an opportunity for young people to feel empowered and engage in a large-scale and high-quality Broadway musical.
Future Intended is an ongoing series that spotlights some of our most recent granting in categories like physical activity, Indigenous communities, literacy, food, the environment and more.
Rodent chow might not be on everyone’s wish list, but it is at the top of the Owl Foundation’s needs. Pine shavings are a close second.
For over 40 years, the Owl Foundation has worked with Humane Societies, vets, SPCAs and fellow rehab organizations to care for orphaned and injured owls (and other birds of prey as needed). Their goal is to nurse them back to health and reintroduce these magnificent birds into the wild. Owls that cannot be reintroduced into the wild are considered for placement in foster parent or breeding programs.
Food and bedding are necessities for the Owl Foundation. The supplies support the 1200 or so mice and rats that are used to feed the injured owls. Support for these feathered friends comes from the McCallum, McBride and Malloch Foundation Funds.
Excerpt from Legacy winter 2019 newsletter
Soroptimist International of Hamilton-Burlington recognizes that education is one of the most effective means to bring positive change to a woman’s life and that supporting a woman’s desire to improve her own and her family’s lives benefits the entire community.
Soroptimist International works to improve the lives of women and girls in 120 countries. Locally, through their “Live Your Dream” program, Soroptimists provide financial assistance to women who are sole supporters of their families to pursue education improves their skills, potential and feelings of self-worth. Most of the women receiving assistance are survivors of sexual assault, poverty, or addiction.
It’s a need clearly identified in HCF’s 2018 Vital Signs Report: Hamilton women living in poverty face multiple barriers to improving their education and, as a result, the path to prosperity. Supported by an HCF grant, local Soroptimists are responding with plans to increase the number of awards.
Hamilton children with disabilities are learning to swim, thanks to a partnership between SWAM Hamilton and Special Olympics Ontario. The program uses rigorously-selected student volunteers from McMaster University to give low-cost swimming and water safety lessons to children with special needs aged 2-18.
Drowning is the second leading cause of death for children under the age of 10 in Canada, and the risk is increased for youth with sensory-motor or intellectual limitations.
SWAM Canada is a national non-profit organization that offers affordable and accessible swimming lessons. In Hamilton, it has been providing one-on-one lessons to special-needs children for a decade at the downtown YMCA facility. Demand for the program is outpacing resources and HCF’s Ontario Endowment for Children & Youth in Recreation Fund is helping to fill the gap, with more than 100 children benefitting this year. The McMaster students who volunteer as instructors also benefit, developing leadership skills and valuable experience.
Excerpt from Legacy winter 2019 newsletter
In 2015, Hamilton Community Foundation set out to create a pathway for more kids to graduate high school and move on to post-secondary education: college, university and the trades.
Known as ABACUS, this 10-year commitment is the primary focus of HCF’s Community Fund granting and leadership. It is unique in targeting students in Grades 6, 7, 8 — a critical transition period for young people that is key to their later success. By supporting middle school students, parents, educators and other partners, ABACUS works to help kids more effectively transition to high school, begin to set goals early and imagine a future with more possibilities.
ABACUS comprises three components: granting to increase the community’s capacity to meet the needs of this age group, an intensive one-on-one mentoring program called Grad Track, and support for systems change to address gaps that may present barriers to educational advancement.
At the three-year mark of ABACUS, Hamilton Community Foundation has funded a wide range of community-based programs. They include before, during and after-school activities such as mentoring, academic support, goal setting, and campus visits. Students are engaged through a wide variety of interests: the arts, sports, STEM (science, technology, engineering, mathematics) programs and others. Some numbers to date include 9,000 students participating, 29 initiatives funded, and 700 parents and 460 educators engaged.
ABACUS in action
Kiwanis Boys and Girls Club’s ABACUS after-school initiative illustrates the approach. Twice a week, students get homework help and have a range of academic and life skill learning experiences. Once a month, they broaden their perspectives on the future with outings to local high schools and post-secondary institutions. Some 75 middle school students are involved, along with more than 30 parents. The program reports outcomes that include:
• Better school attendance and homework completion
• More participation in leadership activities and volunteer opportunities outside school
• More positive attitudes toward school and learning
• A developing interest in post-secondary education
• Parental commitment to nurturing their child’s potential
“ABACUS goals are challenging, and the work is complex,” says Matt Goodman, Vice-President, Grants
& Community Initiatives. “But the indications are that we’re on the right track. Working with students at this pivotal point is transforming the way they view their own potential. That’s tremendously exciting for each student — but also for the whole community. Hamilton’s competitive future depends on it.”
Learn more and watch our video at ABACUSatHCF.ca
Excerpt from Legacy winter 2019 newsletter
The new Serafini Family Ice & Splash Pad, located at the Bernie Morelli Recreation Centre, is a gift to Hamilton that exemplifies the family’s personal and business roots in the city, as well as its lifelong love of recreation.
“Hamilton has been central to our family’s history and we’re honoured to support this new facility,” says Lou Serafini Jr. “It represents both the city’s role in our lives, and our desire to share the benefits and enjoyment of recreation with young people who may not otherwise have an opportunity to explore their potential through sport.”
That goal is also being achieved by the first three grants from
the new Fengate Recreation Fund at HCF, established to increase access to sport and recreation in the neighbourhood surrounding the new rec centre. They include a grant to help make skates and helmets available for local children and families with limited financial resources, another to support a girls’ running program operating
at the nearby Prince of Wales School, and a third to subsidize participation in fee-based programs at the Bernie Morelli Rec Centre.
“The new facility can be enjoyed by families summer and winter and, coupled with the grants, is a remarkable tribute to the city,” says HCF President & CEO Terry Cooke. “We’re thrilled to play a role in helping the Serafini family achieve its philanthropic goals.”
Excerpt from Legacy winter 2019 newsletter
Virginia Woolf wrote, “One cannot think well, love well, sleep well, if one has not dined well.” We agree that good healthy food is essential for physical and mental health and well-being. From tackling hunger to providing job training opportunities, here’s a selection of programs we support that revolve around food as a way to bring positive change to people’s lives.
The knowledge and skills for preparing healthy meals can be life-changing. Come to the Table empowers clients at King’s Way Outreach Centre to create healthy nutrient-dense meals. It also provides training on proper food handling and how to cook with limited food options.
A recent grant from the Edith H. Turner Fund will help expand the Food4Kids Weekends without Hunger program to three high schools in Hamilton. Consistency of weekend food access has a significant impact on physical and mental health of students and academic development. The program, already a success in elementary schools, helps to increase the chances for all students to succeed.
Buy one, give one — that’s the idea behind the Mealshare model. Mealshare teams up with local restaurants and one dollar from every order of designated menu items is donated to local charities that tackle youth hunger. Mealshare is partnering with Kiwanis Boys and Girls Club and makes its way to Hamilton this summer.
Vulnerable community members including youth and newcomers are getting a great start at First Start Café, a new social enterprise at Wesley Urban Ministries. The food service training program provides employment-related supports and career-development services. Clients learn independence and coping skills while increasing their chances for finding employment afterwards.
Food for Thought builds on existing programs and resources at YWCA to empower women to succeed. The program works with the YWCA Employment Centre and At the Table Café social enterprise, to engage more than 60 women experiencing homelessness and other barriers. Among other things, the program increases food security, helps builds self-esteem, enhances employability, and provides leadership and life skills.
Future Intended is an ongoing series that spotlights some of our most recent granting in categories like physical activity, Indigenous communities, literacy, the environment and more.
It can be easy to take fitness opportunities for granted. However, barriers persist that make access a challenge for many people. Fortunately, there are wonderful organizations in Hamilton working to make sure everybody has a chance to take part in healthy active lifestyles. Here are just a few programs we are proud to support that get kids active and having fun.
Kids in this program get a healthy dose of both exercise and literacy. In the Running and Reading Club, circuit training, running-based games and relay activities are followed by nutritious snacks, “word of the day” and reading with the coaches. It all culminates in a Reading and Running Challenge that includes a 5k run and a Jeopardy-style literacy game.
Basketball, mentorship and leadership skills come together in this program at Liberty for Youth. Every practice starts with discussion led by a mentor who shares stories about dealing with challenges. Youth in the program also get the opportunity to deliver talks on a variety of issues like mental health, drugs and negative peer pressure and they learn skills relating to leadership, health, relationships, self-esteem and public speaking. In the summer, youth participate in the annual Liberty and Justice Unity Basketball Event in partnership with Hamilton Police Department.
From ball hockey games and weekly fitness workouts to dodge ball and access to the gym at the YMCA, the Rock-in-Action program offers activities for at-risk youth while promoting social inclusion. Beyond the “basics”, the program helps decrease social isolation and allows youth to experience community in a meaningful way.
Teaching children water safety is crucial for preventing injuries. According to SWAM Canada, “disabled children are ten times likelier to suffer from a submersion injury than the general population”. The SWAM program gives preference to low-income families and uses student volunteers from McMaster University to give one-on-one swimming and water safety lessons to children with special needs.
This program is another great example of breaking down financial barriers for families seeking opportunities to keep their kids active. Through activities that are tailored to facilitate mental and physical well-being, youth suffering from mental health issues are given opportunities to reap the “emotional, physical and mental rewards” of a healthy lifestyle. Youth are even invited to bring a family member along for the fun!
Future Intended is an ongoing series that spotlights some of our most recent granting in categories like music, visual art, literacy, the environment and more.
Donations to the Foundation are invested for the long term in public markets and in alternative investments. Investment income is then allocated annually to support granting, community leadership and operations. The summary and charts presented here provide both a financial snapshot and a history of recent activity that underlies the grants and community leadership activities represented in this annual report, made possible by remarkable donors.
Donations to the Foundation are from individuals, corporations and other charities. Donors may contribute to named endowment or flowthrough funds, to the Board-directed Community Fund, or to HCF’s community leadership projects.
The $35.1 million in donations this year is the second highest total in HCF’s history. Annual donations are influenced by the timing of the realization of donations in wills and significant one-time donations like the $27.7 million in donations of property and private equity. As illustrated in Chart 1, annual donations have ranged between $3.2 and $35.1 million over the past eight years. The five-year rolling average of donations ranges from $5.0 million to $13.3 million over the past eight years.
The five-year rolling average number of donations is 1,787 with 2019-20 at 1,853. The number of donations fluctuates based on “in memoriam” donations and the number and nature of events sponsored by donors to raise money for their funds.
Chart 1
Grants are made annually from both endowed and flowthrough funds. Because flowthrough fund balances are distributed in a shorter time period, granting from these funds can materially influence HCF’s total annual amount granted.
As illustrated in Chart 2, grants and community leadership project spending over the past eight years has ranged from $4.7 million to this year’s historic high of $11.5 million. Granting from endowment funds was reduced in 2013 as a result of the decline in investment returns in 2012 which a) lowered the asset base used for the granting calculation (currently four percent of the fund balances), and b) resulted in less income available to grant. Flowthrough granting and expenditures on community leadership projects has ranged from 22 to 56 percent of total granting in any given year and is dependent on the timing and nature of flowthrough and project activity. At 893, the number of grants for this year is 37 percent higher than the eight-year average.
Chart 2
Investments traded in active markets are reported at fair market value. Investments not actively traded are recorded at their cost less any impairment of their value.
To support our strategy of aligning our assets with our mission and to provide a more diverse and robust portfolio, HCF has committed to investing in alternative asset classes including loans to charities and not-for-profits, private debt, real estate, infrastructure and private equity. These alternatives are consistent with the Foundation’s long-term investment horizon and liquidity requirements. Since these investments are not actively traded, they are valued at cost in the investments. These alternatives total $25.8 million.
HCF invests according to policy guidelines established by the Board of Directors. Two committees of the Board oversee investments to ensure compliance with the policy:
As an endowment builder, HCF’s policy focuses on long-term investing and is supported by reserve accounts that are currently at their policy maximum.
The investment policy sets out a total portfolio target asset mix, as well as a range around these targets. The public market investment managers have mandates within this targeted asset mix and use their discretion to invest the portfolios within this range. Chart 3 reflects the current and target asset mix. Note: $25 million of private equity relates to a fund established by a donor and is not part of the asset mix or the consolidated portfolio results.
Chart 3
Two long-term portfolios are invested in the public markets with Jarislowsky Fraser, and Connor, Clark & Lunn. Chart 4 compares those portfolios against benchmarks as follows:
Benchmarks reflect the performance of each market index based on HCF’s specific target asset mix. Comparing actual results to the benchmark measures the value added by investment managers compared to the average market performance. HCF’s investment policy target is a long-term investment return in the 6.5 to 7.5 percent range.
Chart 4
The effect of the global pandemic has materially affected investment returns, resulting in a -8.4 percent public market return for the year. The seven-year annualized return at 6.8 percent is within the targeted investment policy range and is 1.2 percent higher than the 5.6 percent benchmark. As noted in the financial highlights, the current 10-year annualized return of 7.0 percent is in the target range and is higher than the benchmark by 1.2 percent.
Impact investments enable donations to endowed funds to drive positive change beyond granting, because they represent investments of capital that deliver financial returns coupled with positive social and/or environmental outcomes. In addition, these investments provide a pool uncorrelated to the public markets which, in turn, buffers the portfolio from the volatility currently experienced.
More than 15 percent of our long-term assets are in impact investments. Chart 5 illustrates HCF’s impact investing progress over the past five years, with $25 million currently placed or outstanding and another $15 million committed. This brings the total commitment to $40 million, up from $34 million last year. Impact investments cover areas including affordable housing, arts, environment and sustainable development.
Chart 5
Local loans since inception total $9.7 million with $7.1 million outstanding at year end. Chart 6 shows the impact areas our loans have supported. Since the loan program’s 2012 inception, $2.6 million in loan principal has been repaid and recycled as new loans. In addition, the interest from these loans supports HCF granting.
Chart 6
IRP is a Government of Canada program being delivered nationally by partners including Community Foundations of Canada. As the first phase in the government’s long-term investment in social finance, the IRP’s goal is to make social-purpose organizations “investment ready” so they can make a difference in new and innovative ways through their participation in the social finance market. HCF has partnered with community foundations in London and Niagara, and the McMaster Innovation Park to manage the program regionally on behalf of Community Foundations of Canada. The first request for proposals for funding in January created enormous interest nationally and garnered 65 submissions to our regional partnership. Approved funding is expected to be released in June 2020. As an additional benefit, the IRP brought a growing number of potential opportunities for local loans to HCF’s attention.
These investments include private equity, private debt and real estate investments. Many of these investments are long term in nature, are maintained at cost and do not have a regular income stream. As these investments are maintained at cost, their results include interest income and realized gains, but not unrealized gains. Results for these investments are closely monitored and are reported when realized. Chart 7 identifies the investment areas, with $18.0 million placed and a total commitment of $33 million across 21 investments.
Chart 7
Operating expenses for the fiscal year ended March 31, 2020 total $2.5 million and were 2.5 percent higher than last year. Staffing costs related to the Foundation’s 22 employees represent 70 percent of HCF operating costs.
In addition to breaking out cost by type, operating costs are allocated to each of the Foundation’s operating areas: grants administration, community and philanthropic leadership, community relations and knowledge dissemination, development activities, and administration and governance. Examples of community and philanthropic leadership include convening around the city’s critical issues and fostering the growth of philanthropy by sharing staff time and knowledge to support other charities. Charts 8 and 9 illustrate these costs by operating area and by expense type.
Charts 8 and 9
The Foundation’s annual development expenses are not necessarily attributable to the donations received in that year. The nature of donations to the Foundation can result in costs preceding the receipt of the donation by several years (for example, donations through wills). As a result, consistent with the community foundation sector, operating costs are evaluated by a ratio of total operating expenses to average total assets. Ratios fall within a range depending on the size and stage of the community foundation’s development.
Management considers the ratio of 1.26 percent (1.25 percent in 2019), as illustrated in Chart 10, to be within an acceptable range for a foundation of HCF’s size, stage and level of community leadership, compared against benchmarks established in the community foundation sector. We continue to monitor both the actual results and the benchmarks on an ongoing basis.
Chart 10
Hamilton Community Foundation’s total assets of $201 million at March 31, 2020 include balances of HCF funds and funds held on behalf of others at $1.7 million.
Hamilton Community Foundation’s fund balances, illustrated in Chart 11, represent accumulated donations plus the net investment earnings on these donations, minus granting and operating costs. Funds include both endowed and flowthrough funds. Endowed funds are held permanently and grant from investment earnings. Flowthrough funds are fully distributed as grants over a pre-determined term.
Chart 11
The fund balances have grown 55 percent to $198 million at the year ended March 31, 2020 from $128 million in 2013. Donations of $35.1 million included $4.4 million in flowthrough donations that were largely distributed as grants in the year and, as a result, do not remain in the fund balances at year end. This results in a modest total funds balance growth of 4.8 per cent for the year. The number of funds has grown 19 percent to 377 from 318 in 2013.
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