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In This Issue
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From the Presidents
Save the Date
Meet Member Karen Batchelder
Match Your Contribution
FACs Begin Proposal Review
Find Us on Facebook
Sizing Up Grant Proposals
Demystifying Financial Statements
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Save the Date
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March
Ongoing proposal review by FACs
April
Site visits, dates to be determined
May
14: Grant finalists announced
June
7: Vote to award the 2010 grant at
Annual Meeting, Beat Street Station, Manayunk
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Match your Contribution
Ask Your Company
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In the past month, two of our members took advantage of donations
from their companies to match their $1,000 membership contribution. As a result, Impact100 will
receive an additional $2,000 that can be applied toward operating support. Even an all-volunteer organization like
ours has overhead expenses, and these critical funds will help defray the cost
of general liability insurance, accounting and website fees, printing costs,
and government filing fees. If you
or your spouse works for a company that matches donations, please consider
inquiring about a match to Impact100 now. Often, companies require matching fund requests by
March 31.
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Impact in the News
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Impact100 was
featured in
the Philadelphia Business Journal
on 1/8/10. To read, click here and see the link on the lower left.
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Did You Know?
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Member Karen Nathan is our new webmaster. She is taking over this responsibility from Membership Chair Charlotte Schutzman. Welcome Karen!
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From the Presidents
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Dear Members and Friends,
Impact100's second year of grant-making is well under way,
as Focus Area Committee members are evaluating proposals to determine which
organizations to select for site visits. In January, 27 members read 125 Letters of Inquiry (LOI), and noted broad
themes that emerged, such as foster care children, Philadelphia's 50% high
school drop-out rate, and arts programs that bridge demographic
differences. For a better understanding
of the challenges faced in Philadelphia, we encourage you to read the Pew Charitable Trusts' Philadelphia 2009 State of the City, a detailed but reader-friendly report summarizing data on education,
crime, health, jobs and more.
Last year's grant recipient, Philadelphia Committee to End
Homelessness (PCEH), is addressing one of the region's critical challenges with
Impact100 funding. A committee of
our Board monitors PCEH's progress and expenditure of funds, as permanent housing
is being secured for 25 families. To
date, 19 families have moved into homes of their own, and have discovered
new-found security and stability.
We will provide a final report on PCEH's grant activities when
the remaining families are housed.
Thank you for joining us during this second year, when
Impact100 will make an enormous difference in the region by providing $139,000 in
funding to worthy organizations. Please watch for updates about the proposal review process in the coming
months, and, as always, let us know if you have any questions or comments to
share.
Mary Broach & Beth Dahle
Co-Presidents
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Moving From the Profit to the Nonprofit World
Meet Karen Batchelder, Investment Banker
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For more than 20 years, reading corporate financial statements was her business. Now Karen Batchelder, formerly an investment banker, is reading the financial statements of nonprofit organizations that have applied for Impact funding. Karen is the head of Impact's Financial Review Panel, and oversees five members sitting
on each of the Focus Area Committees (FAC) now evaluating grant proposals.
A native of the Midwest, Karen earned an undergraduate economics degree, then went to New York to work on Wall Street, eventually earning her MBA in finance and accounting. She relocated to Philadelphia in 1996. Two years ago, Karen heard rumblings about Impact100 Philadelphia and signed on as a founding member. She liked the idea of learning more about the nonprofit world. Then, last summer, she left her career in investment banking to take some time to travel (a lifelong passion), learn more about philanthropy, and more or less, take stock of her life.
Earlier this month, Karen returned from Indonesia, New Zealand and Australia so she could devote the spring to Impact100 and the grant process. Analyzing financial statements in the wake of economic upheaval is a challenge, she said. Many organizations -- for profit or not -- are hurting. Their financial statements reflect that.
Reviewers have to be careful, she said, not to confuse
a "less than robust year" with overall financial instability. "In a tough economic
climate, our role is even more important," she said.
Karen's Financial Review Panel includes the following five members: Mary Brown (Arts & Culture); Susan Hollenstein (Education); Cheryl Haze Luehrs (Health & Wellness); Holly Harrity (Environment); and Barbara Renninger (Family). The panel has already performed preliminary reviews of the 40 NPOs that have submitted full proposals to Impact. Their next task? Perform in-depth analyses of the finances of the nonprofits chosen for site visits.In photo, Karen sticks her head through a rock at the Remarkable
Rocks, Kangaroo Island, South Australia. The rocks sit at the tip of the island where
wind, rain and sea have eroded them into "remarkable"
formations.
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Focus Area Committees Begin Work
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The five Focus Area Committees began
meeting this month and evaluating grant proposals from 39 nonprofit organizations that were
culled from 125 Letters of Inquiry mailed to Impact in February. Thanks
to the 27 members who read LOIs this year.
Of
Impact's 139 members, 68 members
are serving on FACs and evaluating grant proposals this year. The FACs
represent Arts & Culture, Education, Environment, Family and Health
& Wellness; each grant applicant chose the focus area that most
closely matches its proposed project. As part of proposal review, FAC
members will decide how many of the 39 nonprofits will move forward to
the next stage -- a site visit. Following site visits, the committees
will choose a finalist representing each focus area. Those finalists
will present their projects at the Annual Meeting in June before members
vote. To read more about the grant process and how the $139,000 Impact
grant will be distributed this year, please click here.
Photos
include members attending the Health & Wellness FAC meeting (right) on
March 1 and the Arts & Culture FAC meeting (above) on March 2.
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Impact100 on Facebook
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Impact100 is now on Facebook. Join us, hear about events and talk to other Impact friends. To visit our page, click here. A word of caution: If serving on a Focus Area Committee (FAC) and evaluating proposals, please remember that names of nonprofits and their proposal details are confidential. Following our annual meeting in June, the grant finalists, as well as all organizations that submitted full proposals, will be made public. Thank you.
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How Impact Chooses a Nonprofit to Fund
Philanthropy Expert on Proposal Review
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Sizing
up a nonprofit organization seeking funding from Impact100 isn't easy.
But Martie Bernicker, a veteran philanthropy consultant, made it much
simpler for members Feb. 16 when she discussed "The Art of Proposal
Evaluation" at Main Line Reform Temple in Wynnewood. First and
foremost, she said, members should trust their instincts. While not
scientific, they offer a valuable gauge of an organization's strength
and needs.
Bernicker suggested that members look
closely at grant proposals, to distinguish between "a great program and
a great proposal." They are not always the same. Also,
understand that a population can be 'underserved' -- meaning in need of
unavailable services -- without being 'underprivileged.' Ideally, a targeted population is both, but "philanthropy is a huge world and it can't always be both."
"The need is so much greater than the ability to respond to it," Bernicker said. She urged members to "invest where strength meets need," and not to "equate the needs of a population with the needs of an organization." Look for a project that:
- Has a direct impact on real people.
- Will improve the organization.
- Will advance the field (in which the organization serves).
To read more about Bernicker's talk, please click here
to go to our website where you can read notes and graphics compiled by Impact
member Carrie Brodsky, who attended the workshop. Martie Bernicker,
formerly with Pew Charitable Trusts, is now a
private consultant to individuals and foundations.
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Demystifying Financial Statements:
Seeking Better Understanding of a Nonprofit's Finances
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During the grant review process, many of us are reviewing proposals which include a nonprofit organization's (NPO) financial statements. What do all the terms mean and how do novices and experienced readers alike evaluate them?
Joan Dawson McConnon (right) of Project H.O.M.E. in Philadelphia led two workshops in January aimed at helping members understand the lessons behind the numbers. The workshops took place Jan. 21 in Center City during the day and at Haverford College during the evening. The law firm of Cozen O'Connor graciously provided lunch and meeting space for the Center City workshop, and Haverford College generously provided use of a large lecture hall.
Using a PowerPoint presentation as well as her knowledge base as chief financial officer at Project H.O.M.E., McConnon told members, "I really believe that financial statements do tell a story. But I urge you to approach them with a healthy skepticism." McConnon advised members at both workshops to:
 - Pay attention to how much an NPO's cash is restricted (e.g., a grant such as Impact's is restricted to a proposed project, called a "temporarily restricted asset" in a financial statement).
- Determine whether money above operating expenses is invested (it should be).
- Determine how many assets are liquid (so they can be converted easily to cash if necessary). Can the NPO pay the bills?
This year during the grant process, each Focus Area Committee (FAC) can rely on the expertise of a designated member of the Financial Review Panel, experienced in reading financial statements. To view McConnon's PowerPoint slides on our website, please click here.
In photo above, Margie Patches, Chair of the Education FAC (left) and Grants Chair Anita Lockhart, at the Haverford College workshop.
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Thank you for reading our March e-newsletter. Look for shorter monthly editions starting in April. Thanks to all our members for your continued interest and participation in Impact100. We also appreciate the commitment of members evaluating grant proposals and attending site visits this spring. Good luck!
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Beth Burrell
Communications Chair
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