Welcome to the fifth edition of the President’s Report. In this edition I will highlight some of our recent accomplishments and aspirations. To learn more about the Beveridge Family Foundation, please visit www.beveridge.org. Descendants of Frank Stanley Beveridge should be sure to read the “Bev Bucks” section near the end of this report. Pioneer Vally non-profits won’t want to miss the final Alternative Funding Workshop of the year. Info and registration is below in the Alternative Funding Initiative section.
At the October 2018 Board meeting, we authorized $666,500 in grants to a variety of organizations in Western Mass. This brings the total grants for the year to $2,224,103. Following is a list of the recent grantees with links to their websites so you can learn more about our wide variety of interests and the outstanding work done by these dedicated organizations.
Welcome Our Newest Board Member
In April 2018 the Board welcomed Chae (pronounced “Shay”) Swan as anew director. We have enjoyed working with Chae for years when he was the Executive Director of the South End Community Center. We were consistently impressed with his intelligence, grace, insight, and strategic abilities. Chae is a lifelong Springfield resident. He graduated from Cathedral High School, Springfield College, and will soon finish the MBA program at Bay Path University. Chae’s passion for youth and community development was inspired by his close-knit family. At the age of 30 Chae was the youngest executive director of a community-based organization in the City of Springfield, when selected for the position in 2007. For the past 11 years Chae has successfully navigated the South End Community Center through the recession of 2009, and the tornado of 2011 which destroyed the SECC facility. Chae and his staff ushered over eighty children to safety during the tornado.…
In February 2018 the Beveridge Family Foundation, Inc. (“the Foundation”) conducted a survey of prior grant applicants. The topic of the survey was alternative funding streams. Out of roughly 400 valid email addresses, 190 responses were received. A brief review of the results follows.
58% of respondents indicated that they currently receive some form of government funding. If the N/A responses are excluded, the rate is 73%. This was higher than expected and added urgency to our efforts as the Foundation anticipates the likelihood of cuts in government spending in the areas of focus for nonprofits. Still, there are good opportunities for the 10% considering, the 5% planning, and the 6% implementing government funding sources. In conversations, the Foundation heard many stories of organizations that had become dependent upon government funding who then suffered due to cuts, delays, or process issues. Clearly it is an area with large potential, but also many pitfalls.…
We are currently accepting applications and encourage you to read through the Eligibility Section before beginning yours.
These are dark days for many non-profits with the threats and realities of extensive cuts in government funding. As a foundation, we are prohibited from influencing elections or lobbying. Our board has a diverse range of political views. We all agree there is a need for continued support for non-profits working in areas such as environmental stewardship, mental health treatment, aid for the disabled, the arts, and more. We provide funding in these areas, and more, focused on Hampden and Hampshire counties in Western Massachusetts. We are limited in how much funding we can provide and can’t come close to matching the scale of the cuts being proposed and implemented at the federal level. We’ve seen this before. The political pendulum swings back and forth. The impact on the organizations we support is unfortunate. Given the uncertainty of their funding and their limited ability to influence it, they have difficulty budgeting and planning.…
Welcome to the first President’s Report of the Beveridge Family Foundation. This report is designed to inform friends of the Foundation of highlights from the past six months.
As of August 31, 2016, the investment value of the Foundation was $53,778,327, up 1.8% for the year. The assets remain prudently invested among common sectors under the guidance of UBS. As a Foundation, we contribute 5% of our assets each year to approved charities.
Governance is overseen by a board of thirteen directors, consisting of ten family and three non-family members. Day-to-day operations are managed by the President, with assistance from GMA (bookkeeping), Edelstein, (auditors), Kenneth Wenzel (retained counsel), and Tim Turner (web programmer).
To date in 2016, we have awarded 60 discretionary grants totaling $267,000, 29 general grants worth $502,000, and provided monthly support amounting to $530,000 to The Stanley Park of Westfield, Inc.
In addition to our usual grant-making activities, a major focus the last six months has been to review and update our long-term goals and succession plans.…