Review Last Year –

Summary Overview of The Byerly Foundation for 2015/16 fiscal year

 

 

Board Members

Brianna Douglas, Chair; Bob Brown, Treasurer; Jerome Reyes, Secretary; Rainey Knight, Alvin Heatley; Harris DeLoach; Barry Saunders; Nancy McGee; Bill Perry; Chris Frazier and Lex West. Staff – Dick Puffer, executive director and Shelagh Hendrickson, administrative assistant.  Subsequent to the start of the new fiscal year Roger Schrum has joined the Board and Harris DeLoach did not seek a second term.  Shelagh Hendrickson left the Foundation after approximately 18 years to take another job.

Internal Operations

January/February – A strategic conversation

Charles Weathers facilitated a strategic conversation among the Board Members on a Saturday morning at the end of January. (January 30)  This strategic thinking discussion resulted in board members getting more familiar with each other and more familiar with the role of our Foundation in the Hartsville community.  There was not an entire strategic planning process yet the strategic conversation resulted in the development of a re-focused Vision. Mission and Values for The Byerly Foundation.

VISION – The Board’s vision for Hartsville is a “caring community where all people have the opportunity to improve their quality of life.”

MISSION — “To serve as a catalyst for positive change by working with public and private interests to improve educational, economic and social outcomes for our citizens.”  The major alteration in the mission is looking at social outcomes as a clearer way to measure quality of life issues.

VALUES

A major result of the articulation of these values was a conscious focus on activities that reinforced the values as a driver of Foundation action.

Strategic Considerations –

The strategic considerations that evolved from the conversations guided most of the Foundation action throughout the fiscal and calendar year. Those considerations are:

1 – What are our funding priorities?

2 – How will we measure outcomes and impact?

3 — Does the current funding model need to be modified?

4 – How will our work demonstrate that we strive for access for all?

5 – What’s our succession plan?

At the end of the year the Board made the decision to change investment manager s and an RFP was sent out with the Board deciding to retain Vanguard as the new managers of The Byerly Foundation portfolio with an emphasis on passive management of the portfolio.

NEW WEBSITE – Early in the year the Foundation worked with a supplier to create new more dynamic website to provide a more open path to Foundation news and activities.  The web site was combined with a more active social media presence to highlight both grantees and The Foundation as they engaged in programs and activities around the community. www.byerlyfoundation.com

External Operations

GRANT MAKING                       

There were 23 grants requested and the following 11 grants were approved In 2015/2016 grant making:

Education/Economic Development –

Education

Economic Development/Social Needs

Social Needs

The Foundation also rescinded the $500.000 matching grant that had been awarded to the Center Theater of Hartsville the previous year.  The Building Commission Board was not able to raise matching funds for the grant in the designated time frame.

The Board also is still making payments to the $1.5 million dollar pledge for the DeLoach Center at Coker College. That grant will be paid completely in 2017 with a $125,000 payment.

As the Board reviewed grants for this grant-making cycle it used six questions that were discussed during the strategic conversation back in January and February.  Grantees were asked to incorporate answers to these questions in their grant requests:

  1. What is your organization aiming to accomplish with this funding
  2. What are your strategies for making this happen?
  3. What are the capabilities of your organization for making this happen?
  4. How will your organization know if it is making progress?
  5. What have you or have you not accomplished so far?
  6. Most importantly how will this grant make Hartsville an even better community?

FINANCIAL BOTTOM LINE

The Byerly Foundation began the new fiscal year with $20,252,933.28 on October 31,, 2016.

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