CFT Annual Report 2013

2 0 1 3 A N N U A L R E P O R T

Founded in 1953 as Dallas Community Chest Trust Fund, Communities

Foundation of Texas and our donors have supported community needs by

funding thousands of nonprofits.

On the cover, a student stands in a learning garden at Robert E. Lee

Elementary School. CFT funds REAL School Gardens to create learning

gardens in low-income schools and train teachers to use them to improve student engagement and

academic achievement.

C O M M U N I T I E S F O U N D A T I O N o f T E X A S

s children, we see life as timeless, never-ending. The days come and go, each one a vibrant,

fleeting and magical glimpse at the splendor of the world around us.

In later years, that youthful outlook evolves into a careful consideration of our impact on those around us. We reflect on opportunities received, on kindnesses provided, the wisdom of our elders and lessons learned the hard way. We see the passing of time through the eyes of our children and the ghosts of our fathers, and realize that while our life here is not eternal, the generosity of our spirit can change lives forever.

Communities Foundation of Texas was founded on this principle in 1953, and for sixty years we’ve been privileged to be part of so many wonderful legacies in North Texas. By matching visionary giving with the needs of our community, we’ve helped make tomorrow better for generations to come.

g iv ing ba c k & L O O K I N G F O R W A R D2

WILLIAM WALTER CARUTH, JR. started a construction and building supply company during the Great Depression. He went on to achieve legendary success in land development before his death in 1990. A passionate philanthropist, Caruth gave generously to his favorite causes: education, scientific and medical research, and public safety.

In 1997, the W.W. Caruth, Jr. Foundation at CFT made a major grant to UT Southwestern Medical Center to create Caruth Scholars in Medical Research. The program enables 20 of the world’s brightest young medical scientists to work in the most promising areas of research under the school’s prestigious faculty, whose concentration of Nobel laureates is the world’s highest. Will Caruth wanted to support scientists making profound discoveries. Today’s medical scientists continue to discover the effects of his generosity.

T H E S C I E N C E

of giving

C O M M U N I T I E S F O U N D A T I O N o f T E X A S 3

A current beneficiary of Will Caruth’s largess, Kim Orth is a Caruth

Biomedical Scholar and professor in the Department of Molecular Biology

at UT Southwestern Medical Center. Her research focuses on bacteria-host interactions and contributes

lifesaving knowledge about pathogens that cause everything from bubonic

plague to food poisoning.


P L A Y

it forward

As our name attests, we have always been about the community. In the 1960s, CFT leaders like Charles Sharp (pictured at left) understood that public spaces help make cities great. Gathering places that provide recreation, cultural enrichment and civic beauty are the uniting landmarks that reveal a community’s soul. Through their funds at CFT, community leaders have supported numerous civic improvements: playgrounds from West Dallas to Collin County, Crape Myrtle Alley and Toad Corners Fountain at the Dallas Arboretum, the Leonhardt Lagoon at Fair Park and improvements at the Dallas Zoo.

Recently, CFT provided funds and expertise during the planning stages of Klyde Warren Park, the city deck park connecting downtown, Uptown and the Arts District. As the park took shape, CFT’s Caruth Foundation gave a $5 million grant for the park’s safety and security.


Projects like Klyde Warren Park and other urban gathering places show the

power of public spaces to both help revitalize our city’s central business

district and strengthen the bonds of citizenship throughout our community. The future of Dallas is clearly moving

toward a more beautiful place.


Ms. Betty Curl has been tutoring children at the South Dallas “Top of the Class” Community Tutoring Center at S.M. Wright for over 40 years. Her efforts have helped at-risk students succeed in school. During the 2009 school year, the center provided test-taking practice for standardized tests, and its students passed reading and math tests at a rate of 97 percent and writing tests at a rate of 100 percent.


W I S D O M of Pearl

The first major gift to the Dallas Community Chest Trust Fund, later Communities Foundation of Texas, came from Pearl C. Anderson, an African-American grocer and physician’s widow. Her gift was a future interest in a prime piece of real estate in downtown Dallas worth $325,000.

Growing up in rural Louisiana, Pearl was not allowed to go to the racially segregated school a few miles away, and there was no school for black children. When such a school was finally built, it was the result of a gift from the Rosenwald Fund. Pearl felt that she owed a debt to those who made it possible for her to get an education, and she vowed that she would one day pay it back. Her gift to the Community Chest Trust Fund kept her promise. She asked that the donated funds be used to help “the poor, young people, and other struggling people,” regardless of race or religion.

Today, we still use the Pearl C. Anderson Fund to honor her wish. Recently, the fund made a grant to the S.M. Wright Foundation’s tutoring center, which provides free, one-on-one tutoring for South Dallas students.


Before there were Morton’s Potato Chips, there was Granville C. Morton, honing his potato chip recipe in the kitchen of his Dallas sandwich shop. He ultimately sold the store to manufacture the chips and made his fortune years later when the company joined General Mills.

Morton gave to many causes throughout his life, including $1 million in 1965 to help build a cancer and research hospital. Today, his granddaughter Meredith Woodworth advises on grants from the Morton Fund at CFT, which has granted $23 million since 1982 to such nonprofits as the American Red Cross, Ability Connection of Texas, Dallas Baptist University and Dallas Children’s Advocacy Center. “He wanted to make Dallas a better place,” Meredith said. The man who started out making snacks now nourishes countless lives through his generous legacy.

O F F T H E

old block

9C O M M U N I T I E S F O U N D A T I O N o f T E X A S

Meredith Woodworth, Granville Morton’s granddaughter, recently

recommended a grant from the Morton Fund to the Fellowship

of Christian Athletes (which first came to Dallas thanks to her father

Van Ellis’ work with Tom Landry).

In football programs at schools like Kimball High School, the

organization’s mentors become life coaches to young athletes, teaching integrity, character,

leadership and teamwork—values that will serve these youth far

beyond the playing field.

Communities Foundation of Texas began as the

Dallas Community Chest Trust Fund in 1953.

Cities all over the U.S. created community chests

that addressed needs from hunger to shelter to

education. The Dallas Community Chest Trust Fund

was the financial safety net supporting the

Community Chest of Greater Dallas and its agencies.

1950s 1960s“If a free society cannot help the many who are poor, it cannot save the few who are rich.” J O H N F. K E N N E D Y

1970s

1975The Blanche Swanzy Lange Special Care Newborn Nursery at Baylor opens in Dallas thanks to a grant from the Lange Fund at CFT.

1966Granville C. Morton of Morton Potato Chip Company recommends a $1,000,000 grant from his CFT fund for research and treatment of cancer, leukemia and other blood diseases.

1965W.W. Caruth, Jr. gives all assets of his private foundation to CFT.

1953Prominent city leaders establish the Dallas Community Chest Trust Fund, the precursor to CommunitiesFoundation of Texas.

1958Pearl C. Anderson Day Nursery opens thanks to a grant from a fund at CFT in her name.

1962CFT makes St. Paul Hospital

Cardiac Research grant.

“A man has made at least

a start on discovering the

meaning of life when he

plants shade trees under

which he knows full well

he will never sit.”A L F R E D N O R T H W H I T E H E A D

1979CFT funds a new

home for the DallasBar Association.

1990s1980s 2000s

2013Through DonorBridge, North Texas Giving Day sets records and raises

$25.2 million for 1,351 nonprofits.

1995The Caruth Foundation at CFT makes a $5 million grant to UT Southwestern Medical Center to foster research with young scientists and doctors.

2003The Mabel Peters Caruth Center

opens to meet the needs of CFT, local community groups and philanthropists.

1999 SPCA of Texas opens its Russell H. Perry campus in McKinney thanks to a grant from CFT.

2001The Butterfly House at Texas Discovery Gardens is funded through a grant by the Rosine Foundationat CFT.

1989Dallas rejuvenates and restores the McKinney Avenue Trolley. CFThelps fund the project.

1985A CFT grant from

H. Ross Perot funds the Morton H. Meyerson

Symphony Center.

1982Millard’s Crossing Fund is established at CFT to benefit the historic village in Nacogdoches, Texas.

198714 field of interest funds are established at CFT, making

it easy to support your favorite causes.

2004Educate Texas launches to improve public education throughout the state.

2005The Dallas Police Department receives a $15 million dollar grant from the W.W.Caruth, Jr. Foundation at CFT.

Sixty years later our name has changed, but we continue to support North Texas and beyond, matching real community needs

with the passions of our donors. Since 1953, we’ve made more than $1.3 billion in grants and are now one of the largest community

foundations in the nation. Today, we celebrate this milestone with the countless men and women who have given back to our communities and with those who still look forward

to making tomorrow better.


Brent E. ChristopherPRESIDENT AND CEO

ecently, I heard someone say, “Sixty is the new forty,” and who am I to argue?

Sixty does not feel old to me. In fact, at age 47, the closer I get to it, the younger it seems. Still, it’s also true that there’s a certain pride that goes with acknowledging every single year of being 60. Age can produce real benefits. Like experience. Stability. Judgement. Credibility. Staying-power.

Communities Foundation of Texas has been helping people invest in their community for 60 years. The foundation started downtown in 1953 as the Dallas Community Chest Trust Fund. Back then, we were the financial safety net for the social-service agencies that were part of the Dallas Community Chest, which eventually became part of United Way of Metropolitan Dallas.

Since 1981, we’ve been known as Communities Foundation of Texas. But more importantly, we have grown significantly in every way over the years. Those folks in 1953 would not have imagined a day—like today—when the foundation employs 65 staff members and has awarded more than $1.3 billion in grants to thousands of different charities across the country and around the world.

So, how do you celebrate 60 years?

Sharing a big piece of cake is definitely appropriate. But, we’re also sharing lots of stories. We’re sparking community conversations on the critical topic of education. We’re supporting community-wide giving through North Texas Giving Day that tops anything experienced elsewhere in the U.S. We’re honoring the past while staying true to our mission—stimulating new ideas for the future.

When you have a chance, be sure to stop by the lobby at CFT and experience the new interactive kiosk. It lets you quickly see the last 60 years in Dallas, decade by decade, with a focus on philanthropy. Based on the numbers, North Texas is one of the most generous places in the country. Based on the stories, you can feel the truth of that in your own heart.

Giving back and looking forward is our motto for this 60th year. Thank you for everything you do alongside us to make that possible. Here’s to the next 60!

R

C O M M U N I T I E S F O U N D A T I O N o f T E X A S 13g iv ing ba c k & L O O K I N G F O R W A R D

Frederick B. Hegi, Jr.Board ChairPrincipalWingate Partners

Frank RischBoard Vice ChairCivic Leader

John McStayPresidentJohn McStay Inc.

Ruth Sharp AltshulerEx-Officio, Chairman’s CircleCivic Leader

Bobby B. LylePresident and CEOLyco Holdings, Inc.

Terdema L. Ussery IIPresident and CEODallas Mavericks

Jeanne T. CoxCivic Leader

Joseph M. “Jody” GrantEx-Officio, Immediate Past ChairmanChairman Emeritus Texas Capital Bancshares

Becky BrightCivic Leader

Brent ChristopherPresident and CEO Communities Foundation of Texas

Carlos González PeñaPresidentPeña Search Consulting

The Honorable Florence ShapiroFormer Texas State Senator

Harold MontgomeryChairman and CEOART Holdings, Inc.

Ken HershCo-founder and CEONGP Energy CapitalManagement

Jack M. KinnebrewAttorneyStrasburger & Price, LLP

Karen ShufordCivic Leader

Judith W. GibbsCivic Leader

James E. BassPresidentOjai Goliad, LLC

Vester Hughes (pictured top right with 1962 trustees) first began working with CFT in 1958, and he has served as the general counsel or lead tax counsel ever since. To put the length of his service into context, Vester joined CFT in the same year that Alaska joined the Union and Elvis joined the Army.

During the years that followed, CFT evolved into one of the most prominent, trusted community foundations in the country. And, Vester evolved into one of the most prominent, trusted tax lawyers in the United States, whether in the Supreme Court, the halls of Congress, or a law firm conference room right here in Dallas, Texas.

board of T R U S T E E S

Vester T. Hughes, Jr.Senior Tax Counsel for CFT

1958–Present

$562

$982

$605$647

$700

$801$754

$651$705

$769

$853

20032004

20052006

20072008

20092010 2011

20122013

$80

$134

2013

$73

2012

$54

2011

$87

2010

$79

2009


T O TA L G I F T S R E C E I V E D(in millions, unaudited)

Fiscal years ending June 30

W. W. Caruth, Jr. Foundation 50.1

Designated Funds 32.6

Donor-Advised Funds 27.3

Agency Funds 13.4

Other Supporting Organizations 10.6

Other 0.2

TOTAL GIFTS $134.2

2 0 1 3 C O M P O S I T I O N O F G I F T S(in millions)

A S S E T S(in millions)


W. W. Caruth, Jr. Foundation 348.8

Donor-Advised Funds 280.7

Discretionary Funds 108.3

Designated Funds 92.2

Other Supporting Organizations 91.8

Nonprofit Agency Funds 30.9

Scholarship Funds 13.0

General Operating Funds 8.5

Charitable Remainder Trusts 7.9

TOTAL ASSETS $982.1

2 0 1 3 C O M P O S I T I O N O F A S S E T S(in millions)

f inancial H I G H L I G H T S

36%

14%12%

10%

8%

8%

7%5% Education

Health &ScientificResearch

ReligiousActivities

Other

Arts &Culture

CommunityImprovement

Youth &Recreation

Housing& HumanServices

$76

2013

$66

2012

$79

2011

$73

2010

$84

2009


T O TA L G R A N T S P A I D(in millions, unaudited)


2 0 1 3 G R A N T S D I S T R I B U T I O N

investment managersAberdeen Asset Management PLCBarrow, Hanley, Mewhinny & Strauss, LLCBNY Mellon Cash Investment StrategiesBurgundy Asset Management Ltd.Credit SuisseDisciplined Growth Investors, Inc.Hotchkis and Wiley Capital Management, LLCPacific Investment Management Company, LLCState Street Global AdvisorsThe Investment Fund for FoundationsWestern Asset Management Company

custodian legal counselBNY Mellon K&L Gates LLP

independent auditorCole & Reed, P.C.

investment consultantSegal Rogerscasey

To review the annual independent audit report and the related audited consolidated financial statements with footnotes, please visit www.CFTexas.org.

Raising the BarFrom $2.5 million raised in 1957 to $25 million raised

in one day in 2013, CFT and generous North Texans continue to give more and more back to our communities.

Recruiting& Preparing

Retaining

Developing Evaluating

Inducting

Hiring

TheTEACHINGCONTINUUM

Rewarding


rom spearheading statewide legislation to

funding regional programs and supporting local

initiatives, CFT is committed to challenging the status

quo and transforming education throughout Texas.

t ransfo rming E D U C A T I O N

educating T E X A S

NATIONAL AND STATE RESEARCH has confirmed what many of us know intuitively—that the single most important variable in student achievement and quality education is the quality of the individual teacher in a classroom.

Educate Texas, a program housed at CFT, occupies a unique public-private arena that allowed us to convene stakeholders from education, policy, business and philanthropy to form the Texas Teaching Commission and take a holistic look at the teacher continuum in Texas. Our goal was to support a thoughtful, generative dialogue on how to improve and align various programs and practices already in place. As a result, the commission produced the report Supporting Students, Honoring Teachers: Recommendations for the Next Generation of Teaching Policy in Texas.

“The goal for the State of Texas must be to recruit, support and retain great teachers using compensation as one critical tool. Great teachers in the classroom equal great results for kids.”M I K E M O S E S | f o r m e r C o m m i s s i o n e r o f E d u c a t i o n


Teach For America Corps Member Emily Martin works with her students at Ann Richards Middle School, where she is a 7th grade English language arts teacher.

$1.5100

school districtsIMPACTED

Number of Commit! Partner Organizations

15+m

illi

on

Caruth grant award to the Commit! Partnership

rom spearheading statewide legislation to

funding regional programs and supporting local

initiatives, CFT is committed to challenging the status

quo and transforming education throughout Texas.

caruth C O M M I T S

THROUGH THE CARUTH FOUNDATION at CFT, Commit! has been awarded up to $1.5 million over three years to help transform the way our community approaches education.

The Commit! Partnership helps drive student achievement, from cradle to career, by measuring what matters, identifying effective practices and aligning community resources to spread what works. Dallas County is its focus, a region with 2.5 million residents, 32 cities and nearly 800,000 students in early childhood, K–12 and higher education systems.

“Commit! is doing the kind of bold work that Mr. Caruth would have championed in his lifetime, and we are proud to continue his legacy,” says Dr. J. Cook, executive director of W. W. Caruth, Jr. Foundation.

at - r i sk Y O U T H

CFT HAS MADE $2 MILLION IN GRANTS to improve middle school education. For example, Teach For America is receiving $350,000 over two years to start a pilot program providing comprehensive training and classroom tools for both corps members and non-TFA teachers at Ann Richards Middle School in Pleasant Grove. The new Dallas ISD school opened in September 2012 with about 1,250 students.

According to Alexandra Hales, Executive Director of Teach For America Dallas/Fort Worth, “The support from CFT for the pilot at Ann Richards empowered us to rethink whole school support and how we can partner to help build strong instructional capacity at every level to encompass classroom teachers, instructional coaches and administrative teams.”

“I am a teacher. I have answered my nation’s call to redefine

the future. I have been entrusted to nurture and

develop our country’s most precious resource: our children.”

D A N I E L L E I J A | f o r m e r T e x a s T e a c h e r o f t h e Y e a r

36%of FY 2013 grants made through CFT benefited education

Jewish Family Service

Healing Hands Ministries

HIS Bridge BuildersInterfaith Housing

Builders of Hope CDCAVANCE - Dallas

Catholic Charities

CitySquareGenesis Women’s Shelter

Habitat for Humanity LIFTNETWORK

North Dallas Shared Ministries

The Senior Source

VMLCYWCA of Metropolitan Dallas (YW)


by g

ivin

g ou

r

North Texas Giving Day Raises $24K per MinuteThe fifth annual North Texas Giving Day crushed the national record for community-wide giving events by raising more than $25.2 million in 17 hours, surpassing 2012 results by $10.8 million. The generosity of North Texans continues to amaze us.

D3 Institute: Building Nonprofit MuscleCFT’s Data Driven Decision-Making (D3) Institute boosts the power of organizations that help low-income working families. The institute helps organizations better understand the needs of the working poor, evaluate their programs and strategies, and expand their networks of resources, including best practices. Last year’s D3 grant recipients (shown right) have new muscles today, thanks to the Institute’s coaching.

EFNT’s 12th Annual Freedom DayMore than 550 volunteers from 59 of Entrepreneurs For North Texas member companies came together for the 12th annual Freedom Day, a service day developed to honor the lives tragically lost and changed on September 11, 2001. Volunteers met at Dallas ISD’s Atwell Law Academy to give the campus an extreme makeover. In a matter of hours, they transformed the school with inspiring words, playful images and a mural of the updated school mascot. Teachers, administrators, students and Mayor Mike Rawlings were awed by the enthusiastic contribution of EFNT volunteers, which was worth well over $140,000.

streng thening N O N P R O F I T STA

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$10.7

$14.4

MILLION

MILLION

$25.2MILLION

MILLION$5

MILLION$4

2012

2013

2011

20102009

P A M G E R B E RExe cut iv e D i r e c t o r, E F N T


“We learned to look at data in a different way—to apply data not only to our outcomes, but also to the

decisions we make within staffing and programming. Because of this grant, we have refined the data

we collect in a way that’s making it more productive.”A N N E T H O M A S | E x e c u t i v e D i r e c t o r , A V A N C E

“Freedom Day gives our employees the

opportunity to pause and reflect

on the events of 9/11 while joining

other community-minded

companies in service.”

2013 NORTH TEXAS GIVING DAY HIGHLIGHTS

75,366 26%Total number of donations Percentage of donationsmade in 17 hours that were a donor’s first to the chosen charity

1,351Number of nonprofits receiving donations on North Texas Giving Day

D O N B R A U N

President of Hall Financial Group

$59.3 MILLIoNraised in 5 DAYS over 5 YEARS

2 0

leadershipBrent E. ChristopherPresident and Chief Executive Officer

Sonja EldridgeExecutive Assistant to the President, CEO and CFO

f inance and administrationBeth BullSenior Vice President and Chief Financial Officer

Inve s tment s and A ccount ingPhillip AdamsSenior Accounts Payable Administrator

Donna LangdonAccounts Payable Administrator

Bobby LewellenAccounting Manager

Karen MercadoAccounting Assistant

Kristine ThomasVice President, Accounting

Fac i l i t i e s and A dmin i s t rat ionMatt AllenInformation Technology Director

Colleen BradleyHelp Desk Technician

Philip BrownFacilities Technician

Beverly GarnerFacilities Director

D’Etta HughesHuman Resources Director

Joey NemastilSystem Administrator

Lisa StablerMeeting Coordinator

Ann Marie WarrickHuman Resources Assistant

philanthropySarah Cotton NelsonChief Philanthropy Officer

Wende BurtonCommunity Philanthropy Director

Jennifer CliffordPhilanthropy Officer

Laura MitchellPhilanthropy Associate

Lisa PearrowExecutive Assistant

Monica Egert SmithCommunity Philanthropy Director

relationshipsSusan Swan SmithChief Relationship Officer

Ty BuiData Integrity Associate

Yvette ElkinsData Integrity Manager

Stephanie FoxAdvisor Relations Officer

Carol Pierce GogliaMarketing and Communications Director

Karen GutierrezData Management Director

Melissa HardageDonor Initiatives Officer

Abigail HazlettProjects Coordinator

Claire HodgesMarketing and Communications Manager

Geri JacobsDirector of Charitable Gift Planning

Sally KurtzPalacios Area Fund Coordinator

Carolyn NewhamFund Administration Director

Elizabeth LiserDonor Services Director

Debby LewisExecutive Assistant

Stephanie ValenzuelaGrants Associate

entrepreneurs for north texasPam GerberExecutive Director

Kimberly BruceOperations Associate

Sejal DesaiCommunity Involvement Strategist

educate texasJohn FitzpatrickExecutive Director

George TangChief Operating Officer

Jessica BassettMarketing and Communications Manager

Luzelma Canales Rio Grande Valley Focus Executive Director

Liza CenicerosProgram Assistant

Dee ChamblissProgram Officer

Chris CoxonChief Program Officer

Denise DavisAssociate Program Officer

Denise DevoraAssociate Program Officer

Kelty GarbeeAssociate Program Officer

Alma GarciaProgram Officer

Priscilla Aquino GarzaAssociate Program Officer, Policy and Advocacy

Amy GroffDirector of Finance

Melissa HendersonAssociate Program Officer, Policy and Advocacy

Susan HendersonAssociate Program Officer

Kristin KuhneResearch and Evaluation Analyst

Kelbert McGeeFinancial Analyst

Lora McKeownAccounting Assistant

Reo PruiettProgram Officer

Gaylette WinebergExecutive Assistant

w.w.caruth, jr. foundationJeverley R. CookExecutive Director

co rporate I N F O R M A T I O N

C O M M U N I T I E S F O U N D A T I O N o f T E X A S

North Texas HUB OF PHILANTHROPY

From our early headquarters on Live Oak (inset photo below) to our current facilities on Caruth Haven Lane and beyond our physical walls, Communities Foundation of Texas has always been an effective hub of philanthropy. As the largest community foundation in Texas and one of the largest in the nation, CFT works with families, companies, nonprofits and other funding organizations to strengthen our communities through a variety of charitable funds and strategic grantmaking initiatives.

For an expanded listing of the named charitable funds at CFT or to learn more, please visit www.CFTexas.org.

CFT’s funds and underlying assets are governed by an independent board of trustees composed of respected community leaders from diverse backgrounds. CFT board members are selected for their knowledge of community needs and for their professional expertise. The trustees’ charge is to understand donors’ interests and the roles of nonprofits, acting as stewards for more than 900 funds. Trustees serve without compensation and exercise final authority with regard to all CFT investments and charitable grants.

In addition to its board of trustees, CFT also has an advisory council that includes leaders from myriad businesses and civic and cultural organizations. Beyond generating public support for the foundation’s work, advisory council members provide educated and objective viewpoints that are valuable to CFT’s projects and endeavors. For a full listing of our advisory council, please visit www.CFTexas.org.

5500 Caruth Haven Lane Dallas, Texas 75225-8146 214.750.4222 Fax 214.750.4210CFTexas.org | EdTX.org | EFNT.org | DonorBridgeTX.org

Documents

CFT Annual Report 2013