ANNUAL REPORT TO THE COMMUNITY
Fiscal Year 2021
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Dear Friends,
For many people, 2020 will be remembered as the year when life as we knew it was interrupted in so many sad, frustrating and challenging ways. Now, as more and more of our neighbors and loved ones are completing the vaccination process, we can almost catch a glimpse of our old normal in the not-too-distant future, giving us an opportunity to reflect on the past year in a more positive frame of mind.
One benefit of social distancing, for me, is that I no longer commute to work, nor am I tied to an 8-to-5 work schedule, as some of my work can be completed “after hours,” permitting me to jump off the hamster wheel and break up my work day. Now I take early morning walks, more closely observe nature, follow local and world news on a deeper level, and take better notice of the world – and the needs – around me. I also notice those who Fred Rogers called “the helpers,” the many among us who, when a need arises, step up to help, lend a hand, or donate to a good cause. People like you.
Despite the pandemic and the chaos it has wrought, you and other donors pulled together to help Bath Community Fund surpass $1 million in total gifts and pledges by the end of 2020. Reaching this milestone, in less than seven years, is a testament to your belief in the fund. Your support has allowed Bath Community Fund to distribute, in just five grant cycles, more than $100,000 to qualified nonprofits serving those with needs in the Bath and Revere communities, and to continue our grantmaking in perpetuity. I would say that even with the pandemic, 2020 was a momentous year in a good way – thanks to each of you.
Thank you for your interest in Bath Community Fund and for taking the time to read our 2021 Report to the Community. Our advisory board and committee members are honored to be a part of this generous and caring community. We look forward to seeing you at next year’s annual meeting, where we can talk and laugh with one another, shake hands or share hugs, and socialize in person once again.
Gratefully,
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Kathy Sidaway
Advisory Board Chair
Bath Community Fund
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In December, Bath Community Fund announced its latest round of grants, bringing the fund’s cumulative grantmaking total to more than $100,000 in just five grant cycles since its inception in 2014.
Altogether, the fund awarded nearly $30,000 to 13 local nonprofit organizations in 2020. Several of these grants will provide hands-on learning opportunities for students and families, including grants to build outdoor classrooms at Crown Point Ecology Center and the University of Akron Field Station at Bath Nature Preserve.
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Bath Community Fund's next grant cycle opens on Wednesday, Sept. 1, and applications are due by Friday, Oct. 1. Grant applications will be considered for programs that preserve Bath’s historical and environmental legacy, enhance the local arts and culture landscape, serve youth through education and recreation, and meet residents’ social service needs.
We encourage any nonprofit that enhances the Bath community to apply. You can preview the grant application questions and view FAQs about the online application system on our website. The helpful staff at Akron Community Foundation is also available to assist you during the application process.
A committee of BCF board members, donors and community leaders will review the requests and make determinations. Grant decisions will be announced in early December.
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Jody Miller Konstand
Development Committee Chair
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Since the creation of Bath Community Fund in June 2014, our advisory board members have worked hard to build the fund’s endowment. One of our most recent goals was to reach $1 million in cumulative gifts and pledges. Our board members were focused on that $1 million goal because it ensures at least $50,000 in annual grant awards to the local nonprofits dedicated to the mission and purpose of Bath Community Fund.
Thanks to the support and generosity of more than 300 donors, that goal was achieved on Dec. 31, with an accumulated $1,009,668.22 raised in less than seven years. Thank you.
We are continually amazed by the diverse range of donors that support Bath Community Fund. Our donors are couples and individuals; businesses, foundations and family funds; clubs, associations and committees. They are people who live in Bath now or have lived in Bath at one time; people who have given after their deaths; and people who have given once, annually, or several times each year. They are people who have given $25 or $150,000; people who have given anonymously; and people who have given in honor or memory of someone they love or have lost.
But although our donors come from all walks of life, they share a common purpose: They believe in the value of a community fund and want to see their treasure – no matter the size – make a difference. Without each and every one of you, Bath Community Fund would be diminished because each of you is essential to what this fund means, what it has done, and what it will continue to do.
Without your trust in what we envisioned for the fund, we could not have grown the fund. Without your gifts to grow the fund, we could not have surpassed the $100,000 grantmaking milestone in five grant cycles. Without your belief in the legacy we are creating together, we would not have a lasting way to truly make an impact now and for generations to come. Without you, none of this – the values shared, the good done, the benefits made possible, the lives changed – would have been possible.
We thank you for being engaged, we encourage your perspective, and we applaud you for making a difference. You – our donors – are why Bath Community Fund exists. Thank you.
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Diana McCool
Financial Officer
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As an affiliate fund of Akron Community Foundation, a philanthropic endowment of $272 million, Bath Community Fund receives active financial oversight by top-rated managers who monitor the portfolio in light of current market conditions and our long-term investment strategies.
Following the downturn we experienced at the end of March 2020 as the market reacted to the COVID-19 pandemic, our charitable assets not only recovered but also saw significant growth. At the end of the fiscal year on March 31, 2021, Bath Community Fund's assets stood at nearly $1.1 million*, an increase of approximately $350,000 from the prior fiscal year. Our net return for the 2021 fiscal year was 36.7%, outpacing any prior year in our fund's history.
These gains are a result of our donors' extraordinary generosity, as well as Akron Community Foundation's strategic investment policy, which was designed to weather market volatility and ensure Bath Community Fund's long-term growth.
Going forward, we will continue to be trustworthy and prudent stewards of your charitable gifts. We know that every dollar preserved for grant funding and not used for expenses means one more dollar available to meet social service needs, preserve Bath’s historical and environmental legacy, enhance the local arts and culture landscape, or benefit so many through educational and recreational programs. We're proud that Bath Community Fund has the lowest historical expense ratio of all the major affiliate funds at Akron Community Foundation. Since 2014, we've spent just $8.60 for each $100 we've raised, a ratio far below the industry standard.
Thank you for entrusting us with your charitable gifts. All gifts are invested and grown over time, so donations made today will continue to multiply for generations to come.
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*The fund's asset total reflects grant disbursements, expenses and market fluctuations. This figure is calculated separately from the total gifts and pledges reported in the Fundraising Update above. Numbers are unaudited.
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June 15: Donor Survey
Donors will receive an email with a link to a brief survey about their experience with Bath Community Fund. We encourage you to submit your feedback so we can continue to engage with you in meaningful ways.
Aug. 19: Celebrate the Reach Event
Join us for a donor appreciation picnic at The Regal Beagle in the Bath Nature Preserve as we celebrate reaching our goal of raising $1 million. Everyone's invited!
August (TBD): Grant Information Meeting
Nonprofits considering applying for a grant from Bath Community Fund in 2021 are invited to attend an informational session about the grant application and selection process.
Oct. 1: Grant Application Deadline
Bath Community Fund's next grant cycle opens on Sept. 1, and applications are due by Oct. 1. Grant decisions will be announced in early December.
Fall/Winter 2021: Planned Giving Workshop
Planned giving is a simple and powerful way to leave a lasting mark on your community. This dynamic workshop will help you get started as you consider your legacy of giving.
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Rev. Mark Frey
Nominating Committee Chair
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This year, Bath Community Fund celebrated two significant milestones as we reached $1 million in funds raised and $100,000 in cumulative grants that strengthen the Bath community. These achievements were made possible by the dedication and hard work of our advisory board and committee members.
Bath Community Fund is operated by a nine-member volunteer advisory board that meets throughout the year to conduct the business of the fund. These advisory board members work alongside other community volunteers who serve on the fund's various committees, including our development and grants committees. Each of these volunteers is integral to the mission and vision of Bath Community Fund, and their collective work makes a tangible difference in Bath Township.
Bath Community Fund's advisory board members are elected to two-year terms. This year, we'd like to congratulate Jim Bernard, Diana McCool and Kathy Sidaway on being re-elected to another two-year term. The following advisory board members will serve as officers this year: Kathy Sidaway, chair; Nancy Fay, vice chair; Diana McCool, secretary; and Scott Siddall, financial officer.
Thank you all for your commitment to enriching the Bath community.
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We’re looking for passionate community members to serve on our advisory board and volunteer on our committees. Whether you prefer to work behind the scenes or jump right into the action, we could use your skills! Volunteer opportunities include assistance with fundraising activities, marketing, grantmaking and more. For information about the fund and how you can get involved, contact Deb Hoffman.
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We're grateful to the donors whose gifts make Bath Community Fund possible. Your generosity is strengthening our community for current and future generations.
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Thank you to the many donors who have honored a friend, family member or colleague with a gift in their name to Bath Community Fund. Memorial and tribute gifts are a wonderful way to recognize someone special in your life while creating a lasting difference in the Bath community. When you make a tribute gift, your honorees will receive a card letting them know of your donation (but not the amount).
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From cash to appreciated stock and retirement assets to real estate, there are many ways to give to Bath Community Fund. Your gifts are fully tax deductible and will improve the quality of life for all Bath residents.
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Have you connected with Bath Community Fund on Facebook? We're building a more robust presence on social media, and we'd love to have you join our conversations.
By following our page, you'll be the first to get exciting information about our grants, events and other community news, including videos featuring our donors and grant recipients.
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