2007 Community Foundation Annual Report

Community Foundation oF Western nevada

annual report 2007

10CELEBRATING

2008 is a celebration year for the Community Foundation of Western Nevada. We celebrate 10 years of making connections with those in our community

who understand the power and importance of philanthropic giving.

We celebrate 10 years of connecting with non-profit organizations which receive the philanthropic dollars that allow them to carry out the important work they do.

We celebrate 10 years of connecting with the individuals, families, friends and financial advisors who recognize, support and sustain our mission.

We are proud to present our Annual Report for the year 2007 filled with stories that celebrate our fund holders’ accomplishments.

Join us as we celebrate 10 years!

1

10CELEBRATING

Table of ConTenTs

Our mission is to

strengthen our community

through philanthropy

by connecting people

who care with

causes that matter.

Financial Highlights ..................................................... 2

Celebrating 10 years ..................................................... 4

Letter from Chair of the Board of Trustees ................... 8

Foundation in Action

Hawken Fire Restoration ........................................ 10

Doyle Family Fund and Clarke Family Fund .......... 12

Big Read Matching Grant ...................................... 14

Fernley Long-Term Assistance Fund ....................... 16

Legacy Society ............................................................ 20

Planned Giving/Professional Advisors Council ........... 21

Board of Trustees ........................................................ 22

Donors ....................................................................... 24

Funds ......................................................................... 29

Grantees ..................................................................... 33

Community Partnership Grant Program .................... 38

Scholarships ............................................................... 40

Financial Report ......................................................... 45

Business Relationships ................................................ 53

Difference Between a Private Foundation and a Donor Advised Fund Chart .............................. 54

How We Can Help ..................................................... 56

2

finanCial HigHligHTsCommuniTy foundaTion growTH reaCHes new HeigHTs

Mil

lio

ns

of

Do

llars

$576,942

$5,462,184

$50,255,967

1999 2001 2003 2005 20070

5

15

20

25

30

35

40

45

50

55

10

Assets

$29,381,075

$13,967,410

3

funds of THe foundaTion

granTs auTHorized

Donor Advised, 60% ................. 29,826,124.20

Designated Funds, 20% ............ 10,290,460.00

Endowments, 4% ........................ 2,165,947.53

Agency Funds, 10% ..................... 5,197,847.00

Scholarships, 6% .......................... 2,775,588.27

ToTal ................................ $50,255,967.00

Arts / Culture, 18% ...................... 1,440,404.04

Children & Family, 3% .................... 249,659.36

Community Development, 18% .....1,481,716.77

Education, 21% ........................... 1,738,553.98

Environment & Animals, 6% ......... 451,838.87

Health, 3% ...................................... 232,302.30

Human Services, 3% ....................... 278,003.48

Religious Institutions, 3% .............. 265,727.40

Other, 25% .................................. 2,017,645.10

ToTal .................................. $8,155,851.30

Donor Advised60%Designated

Funds20%

Endowments 4%

Agency Funds 10%

Scholarships 6%

Other25%

Arts / Culture18%

Community Development

18%

Education21%Environment

& Animals6%

Health3%

Religious Institutions

3%

Human Services

3%

Children & Family

3%

Over $8 million in grants were recommended by Community Foundation fund holders and authorized by the Board of Trustees for charitable or education organizations that serve our community and beyond.

4

CelebraTing 10 years wiTH 10 sTories

10 ConneCTions THaT inspireThe Community Foundation spent the last 10 years helping smart, compassionate people turn their ideas into action. We celebrate their passion and generosity. Our region is a better place for their actions.

Evangeline Reese Grant (1897-1991) was a gifted professional musician and a beloved teacher at McKinley Park School in downtown Reno.

Evangeline’s musical legacy lives on through her daughter’s gift of the rare Testore violin (in the photo) to the Reno Chamber Orchestra Endowment at the Community Foundation of Western Nevada. Each year a promising young student is loaned this magnificent instrument to play for the delight of Reno audiences.

Through the Community Foundation of Western Nevada, a family’s legacy reverberates in the Truckee Meadows.

Duncan Jemison* is a successful retired doctor who cares passionately about literacy and learning. Through the Read With Me Foundation at the Community Foundation of West-ern Nevada, he provides full preschool scholarships to at least two young early readers each year. Pictured here, two scholarship winners are graduating on to kindergarten. The Read With Me Foundation is a growing, permanent fund encouraging more children to read and learn every year. Look for these students to shine brightly in our northern Nevada communities for generations to come. * (Name changed to protect Fund holder’s privacy) Read With Me

Foundation

Evangeline Reese Grant

10CELEBRATING

5

The young adults of the Langson family were given an extraordinary gift. Their uncle established a family donor advised fund and appointed the five cousins to be the donor-advisors. After the cousins decided they wanted to support dental health, the Founda-tion set about helping them find the right program to receive their gift. They were able to sift through the proposed possibilities and settle on a generous gift to the HAWC (Health Access Washoe County) dental services. Their thoughtfulness enabled 75 children to receive much needed care.

Jay Thiessens is a successful businessman who owned his own company but could not read. He could not read his own contracts or his children’s Father’s Day cards. Nobody, nobody, except his wife knew his troubling secret.

After signing a $3.5 million contract that he could not read, Jay decided he had enough and asked for help. He worked on his vision-tracking problems and diligently went through tutoring. A reading advocate, he now helps local adults and children through his tireless volunteer work and a few strategic grants from the Jay and Bonnie Thiessens Literacy Fund at the Community Foundation of Western Nevada.

Marjorie Lee Mortensen, a retired librarian and longtime volunteer with the Nevada Historical Society, set up a permanent fund to purchase valuable historical documents and photos for the Society. As a single working woman, she lived simply and invested wisely. In 2003, towards the end of her long life, she gave herself the gift of acting upon her charitable dream. Now she forever gives our community her legacy of thoughtfulness and permanence.

Thiessens Literacy Foundation

Marjorie Lee

Mortensen

Langson Family

6

With humor or straight-forward stories, children in 25 area elementary schools are learning about bullying and what to do about it, thanks to a grant from the Marguerite Wattis Petersen Foundation Fund. The books were either referenced as an integral part of the “No More Bullies” curriculum created by the Celebrate Diversity Fund or as resources listed in the back of each notebook given to teachers. By collaborating on the same mission, the funds accomplish more.

Bullying hurts everyone — the victim, the bully, and the bystander. Lilli Trinchero is passionate about helping children in Washoe County enjoy their school days in an accepting and bully-free atmosphere. Through her Celebrate Diversity Fund at the Community Foundation of Western Nevada, she has put a bully-free curriculum in the hands of every Washoe County School teacher and encourages each and every school to teach acceptance and to celebrate their students’ unique qualities. The Celebrate Diversity Fund is a permanent resource for local schools and community organizations. It will be here to help our children’s children learn to live peaceful lives, just as Lilli intends it to be.

CelebraTing 10 years ConTinued

Petersen Foundation Book Gift

Lilli Trinchero

Celebrate Diversity

10CELEBRATING

7

Each year a group of students from area high schools meet for 10 weekly meetings to learn about philanthropy by recommending $10,000 in Community Foundation grants to local nonprofits that touch their lives.

Over the years, the Giving Circle has distributed an amazing array of creative grants that bring to light the innovative possibilities of Foundation support. Grants range from pur-chasing disposable cameras for prom to major funding for the Holland Project — a much needed local venue for youth expression of art and music.

Bob Kendall was born in 1923 and raised on the Comstock Lode in Virginia City. Bob’s fondest memories are of growing up on the Comstock Lode in the 1930’s when Virginia City was nothing but a small mining camp struggling to stay alive before the tourists came. Life then for a young boy was simple but full of wonderful things to do. Bob started first grade at the Fourth Ward School in 1928 and graduated from the eighth grade in 1936 — the year it closed as a school for-ever. Bob had a successful career in mining and after a 50 year absence returned to Nevada to live out the remainder of his life. His gift of an endowment will help in the restoration and preservation of the unique and important Historical 4th Ward School.

Charisse Sy graduates from Loyola Marymount University in Los Angeles this spring 2008. In 2004 she learned that she was chosen for a 4-year scholar-ship from the Phil and Jennifer Satre Harrah’s Employee Scholarship Fund. In 2007, she received an additional scholarship from the Claudine Williams Harrah’s Las Vegas Employee Scholarship fund. This boon from the Foundation funds encouraged her to spread her wings and attend the school of her dreams. Charisse is an outstanding student who is specializing in biochemistry and will be taking the MCATs. These remarkable scholarship funds are supporting students at prestigious universities across the United States, opening doors to the next generation of well-educated citizens.

Pho

to C

ou

rtes

y: L

MU

Charisse Sy benefits from Satre Harrah’s Employee Scholarship

High School Giving Circle

Historical 4th Ward School Robert Kendall

Endowment

8

The results of these conversations are helpful to all of our fund holders as they prepare to make donor advised gifts. Additional information about the conversations can be found on our website, www.cfwnv.org.

As a Community Foundation, we are here to serve the needs of our region and often must act quickly. The fund created to benefit the victims of the Fernley Flood (see page 17) is our most recent example of our flexibility and capac-ity to serve as we responded to requests from the city lead-ers of Fernley.

Recently we were pleased to receive confirmation of our compliance with the National Standards set by the Council on Foundations. The National Standards Seal signifies that our foundation has met the most rigorous review of our organizational and financial policies and procedures and affirms our commitment to financial security, transparency, and accountability.

Today as we plan for the future, we look forward to working with all sectors of our community: the citizens who seek to make a difference through philanthropy, the nonprofits who serve the needs of our region, and the leaders and professionals whose expertise can guide us all. We hope you’ll join us as we celebrate our past and strive to make a difference in the place we love to call home.

Jennifer Satre, Chair, Board of Trustees

T he founding board of trustees of the Community Foundation of Western Nevada

had a vision for a trust of pooled funds that would benefit current and future generations of Nevadans. Ten years later, our mission remains the same: to strengthen our commu-nity through philanthropy by connecting people who care with causes that matter. We are proud of our growth and the services we offer our donors, nonprofit organizations, and professional advisors in our region. Above all, we are thankful for the dedication of our founders and the gener-osity of our many donors.

As 2007 came to an end, we had much to celebrate. Since 1998 we have received over $66 million in gifts, established over 175 funds, and distributed over $32 million primar-ily to projects in northern Nevada. In June of 2007, we announced our first annual Community Partnership Grants to 25 organizations, totaling almost a quarter of a million dollars to help build the capacity of each recipient. These grants were made possible with seed money from the Ronald L. Olson Foundation and generous contributions from our fund holders and board members.

Over the last several years, we have engaged numerous people in our community in conversations about the needs and funding priorities in the arts, education, and natural resources. This year we will be convening members of the health and human services sector to prioritize their needs.

Chris Askin, CFRE, CSPG, Executive Director

9

Jennifer Satre, Chair, Board of Trustees and Chris Askin, CFRE, CSPG, Executive Director

10

Coming together is a beginning. Keeping together is progress. Working together is success.

— Henry Ford

“”

Photo Courtesy: Nevada Land Conservancy

11

working TogeTHer for a sTronger CommuniTy

Through the combined support of pubic and private entities, rehabilitation work

on the Hawken Fire site is coming along. On July 16, 2007, smoke began to plume over Caughlin Ranch sig-naling the beginning of the Hawken Fire. The open-land wildfire burned over 500 acres, up to the backyards of Caughlin Ranch homes. Donor-advisors from three funds at the Community Foundation responded by recommend-ing major grants for reseeding.

Kelley Erosion Control completed hydromulching 43 acres immediately behind homes on Friday, November 2, 2007. Washoe County Public Works also completed the construc-tion of two drainage basins to help capture sediment before it flows out of Alum Creek into the Truckee River. Aerial seed-ing of 350 acres in the upper elevations and aerial mulching of 160 of those acres occurred in February 2008. Hazardous trees have been removed, teams of volunteers replanted 300 Ponderosa and Jeffrey Pines seedlings, and a new flood early-warning system has been installed on Alum Creek.

Nevada Land Conservancy is serving as the fiscal agent, principal fundraiser, and volunteer coordinator for the Hawken Fire restoration effort. Project partners include Washoe County, the Caughlin Ranch Homeowners’ Asso-ciation, City of Reno, U.S. Forest Service, Nevada Fire Safe Council, and Natural Resources Conservation Service.

Kelley Erosion Control sprays a green hydromulch seed mixture over parts of the Hawken Fire burn area in southwest Reno. Nevada Land Conservancy, Washoe County, U.S. Forest Service, and City of Reno partnered on this fire rehabilitation project, which will restore more than 500 acres that burned in July of 2007.

Pho

to C

ou

rtes

y: N

evad

a La

nd

Co

nse

rvan

cy

12

“ ”

Graduating participants from the “Taking Charge” class.

The greatest benefit of synergy is born in the diversity of perspectives.

— Danielle Marie Crume

13

”

Trudy Doyle and Barbara Clarke do not know each other. But through their affilia-

tion with the Community Foundation they are making a clear difference in the lives of seniors in northern Nevada.

Trudy Doyle lives with macular degeneration – a chronic, progressive disease of the eyes. She wants seniors living with this pervasive health problem to know that in many cases there are aids and methods to help people with low vision live fulfilling lives.

Trudy funded the UNR Sanford Center for Aging “Taking Charge” program. “Taking Charge” is a series of workshops presented to seniors to help them manage any chronic dis-ease. The last of the seven-series classes deals exclusively with macular degeneration. Results from “Taking Charge” are impressive.

n Workshop participants are better able to talk with their doctors and families about their health concerns and needs.

n They learn methods to break the Symptom Cycle of chronic disease.

n Participants learn to identify resources to help them in their self-management goals.

The class is taught by team leaders who encourage mem-bers to become supporters of each other. Two class series and a leadership-team workshop were completed in 2007 and more are scheduled in the western Nevada region for 2008. For more information contact the University of Nevada, Sanford Center for Aging.

Barbara Clarke’s late husband was a respected ophthalmologist. She knows well the value of sight. To help seniors who cannot pay for expensive corrective low-vision aids, Barbara established a fund at CARE Chest of Northern Nevada.

Here is the story of one woman who was helped by Barbara’s fund at CARE Chest of Northern Nevada:

Lorene, a petite 81-year-old grandmother of five and great-grandmother of six, lives alone in a small apartment. She has no family locally. Lorene spends more of her time reading and says it is a major part of her life. However, Lorene suf-fers from macular degeneration which makes reading difficult and sometimes impossible for her. Surviving on a mere $277 from Social Security, Lorene cannot afford the optical devices not covered by insurance. Through a generous grant from the Community Foundation, CARE Chest was able to pay for Lorene’s glasses. These optical devices will help her to remain independent and do what she loves most – read.

Two women linked by Common inTeresT and Values

14

The Big Read is an initiative from the National Endowment for the Arts designed to restore reading to the center of American Culture. The Big Read brings together partners from across the county to encourage reading for pleasure and enlightenment.

15

CollaboraTion leads To maTCHing granT from THe kellogg foundaTion

During a month-long span from mid-September to mid-October 2007, northern

Nevada was reading Ray Bradbury’s novel, Fahrenheit 451. Not only were we reading the novel, we were talking about it in book clubs and blogs, critiquing it in high school English classes, cre-ating art inspired by the novel’s message, watching the movie version at Idlewild Park, and going to lec-tures and workshops presented by respected educators and authors. This area-wide initiative was cre-ated by the National Endowment for the Arts and brought to us by our libraries. The NEA granted funds to support the program, but much more was needed by the Washoe County Library if they were going to generate community-wide enthusiasm and participation from schools and non-profit literacy and arts groups.

The Jay and Bonnie Thiessens Literacy Fund, the High School Giving Circle, the Friends of Washoe County Library, and The Washoe County Library Endowment — all funds within the Community Foundation, collaborated and made gifts to support the Big Read. The Community

Foundation then leveraged these gifts by applying for and receiving a matching grant from the Kellogg Foundation to further support the community-wide read. Working together, we were able to raise twice as much support and bring together diverse interests to create something special for everybody to enjoy.

You don’t have to burn books to destroy a culture. You just have to get people to stop reading them.

— Ray Bradbury, Fahrenheit, 451.

“”

ReviewTMCC students

and teachers create thought-provoking exhibit inspired by

Fahrenheit 451.

16

When strangers start acting like NEIGHBORS... communities are reinvigorated.

— Ralph Nader

“

”

17

Saturday, January 5, 2008, the Fernley Canal breeched, flooding homes and streets and dis-

placing families and their pets in the freezing dawn. On Monday, January 7, the City of Fernley called Community Foundation director Chris Askin to talk about establishing the Fernley Long-Term Assistance Fund.

Fernley City Hall was inundated, and managing this crisis was a challenging task. People were driving from Reno and Sparks loaded with shovels and cash to donate to the Fernley Flood victims. The Fernley Assistance Fund was created to ease the information flow and create a charitable pocket for this hard-hit community. With a simple phone call and a short agreement, the Community Foundation became the monetary contribution collec-tion center for Fernley. Within hours our office phones were ringing, and during the next few weeks donations poured in by mail and by credit card through our website, www.cfwnv.org.

The Fund received 144 separate gifts ranging from a few dollars sent in by a victim’s elderly relative from back east to thousands collected during individual and corporate fundraisers. The total amount contributed to the fund was $259,781.27.

fernley long-Term assisTanCe fund uniTes donors’ sHared response inTo a CHariTable resourCe

The Fernley Long-Term Assistance Committee distributes the grants from this fund. The first phase of funding was distributed to flood victims who had registered with Lyon County Human Services by January 25, 2008. The checks were distributed January 31 and February 1 through Fern-ley City Hall. 190 households received checks totaling $185,830. The checks were disbursed based on the level of damage assessed to their homes by City officials during structural safety inspections.

The remaining money in the fund, mostly generated after the first disbursement, has been and will continue to be distributed to families with unmet needs who apply to the Fernley Long-Term Recovery Team. A Case Management Supervisor, the Director of Recovery, and the Construction Supervisor will work with the families to develop a recovery plan. Once the revenue received from other disaster pro-grams has been exhausted on recovery, families can apply for funding from the second phase of funding donated through the Community Foundation of Western Nevada.

Each and every gift to the Community Foundation fund is carefully receipted, and the donors receive a personal letter of acknowledgement thanking them for their gener-osity and neighborliness.

18

Ahuja, Usha

Allred, Mr. and Mrs. Scott

America RV Rentals

American Girls

Ashurst, Ms. Anita

Associated General Contractors

Barkley, Mr. David

Bedi Corporation

Bennett, Mr. and Mrs. Robert J.

Bent, Ms. Laura L.

Berney Realty

Bevan, Mr. William R. and Mrs. Joan Fincher-Bevan

Bhargava, Anubhav and Swasti

Bill Glaser Hair Design

Bonanza Printing

Bretzlaff Foundation

Buhrmann, Mr. and Mrs. Henry J.

Buonanno, Mr. and Mrs. Joseph A.

C3 Computer Services

Calvanese, Mr. Jerry C.

Carolina Kitchen & Barbeque

Chronister, Ms. Betty

Collins, Mr. James D.

Condron, Ms. Sondra

Denny, Ms. Thelda L.

Dimare, Mr. and Mrs. Richard P.

EBSCO Industries

Elwess, Ms. Tiffany A.

Fernley Free Methodist Church

Fincher, Mr. and Mrs. Clifton B.

Fioresi, Ms. Gigi

First Independent Bank of Nevada

Gastroenterology Consultants

Gerlach High School

Gimblin, Ms. Lynne

Grasse, Ms. Linda

Greater Las Vegas Association of Realtors

Greater Nevada Credit Union

Guerra, Mr. and Mrs. Carlos

Hale, Ms. Laura

Hardy, MD, Assemblyman Joseph P.

Hartpence, Mr. and Mrs. Vic

Haynes, Mr. and Mrs. Robert

Hearts of Gold Quilters

Heckman, Mr. and Mrs. Rick

Hogan’s Carb & Tune

fernley long-Term assisTanCe fund donors

Howard’s Chevron

India Association of Northern Nevada

Janes, Ms. Colleen G.

Jesse Hall Elementary School – WCSD

Johnson, Mr. and Mrs. James

Keyser, Robert S. and Dorothy J., Foundation

Kurashewich, Ms. Samantha

Ladies Aid Society

LaFond, Ms. Cheryl

Lakeside Community Church of Religious Science

Lambert, Ms. Mary N.

Laughton, Ms. Judy

LaVoie, Mr. and Mrs. Alan

Leiser, Mr. Rick and Ms. Anita Habberfield

Lewis and Roca LLP, Lawyers

Lindsay, Mr. and Mrs. Robert

Livingston, Mr. and Mrs. Richard

Luriland Foundation

Lyon, Ms. Vivian G.

Mahadeva, Mrs. Bani Q.

Marracini, Mr. Joshua

19

McDonald Carano Wilson LLP

McDonald, Mr. Verdell

McGriff, Mr. and Mrs. Michael E.

MDM Silver State Solutions

Morris, Mr. and Mrs. Tom

Narala, Mr. and Mrs. Yugandhar

Nevada Association of Realtors

Nevada Cement Company

Nevada State Bank

Nicholson, Mr. and Mrs. Rick A.

Nolan, Senator Dennis E.

Northwest Datacom and Power

Norwood 4-H Club

Nutzmann, Ms. Wendi

Owen, Ms. Sarah

Parish, Ms. Lynne

Parks, Mr. and Mrs. David R.

Peer, Mr. and Mrs. Don

Piper’s Opera House Programs

Pitani, Mr. and Mrs. Keshav

Professional Saleswomen of Nevada

Purvis, Ms. Lynn

Q & D Construction

Rail City Casino

Rawat, Mr. and Mrs. Banmali

Narashimha, A. and A Vijayalakshmi

Reese, Mr. and Mrs. Luther

Reno/Sparks Association of Realtors

Reno Rockin’ 50’s Dance Club

Reno Toyota-Scion

Ricci, Ms. Pamela B.

Robinson, Ms. Jennifer M.

Robles, Mr. Drake

Roman, Mr. and Mrs. Keith F.

Rosenlund, Mr. and Mrs. Gary

Satre Family Charitable Fund

Schiller, Mr. and Mrs. Leonard D.

Scripps, Mr. Jim

Serdehely, Ms. Rebecca

Sertoma Club of Sparks

Shen, Mr. and Mrs. John

Sierra Neurosurgery Group

Sierra Nevada Association of Realtors

Sierra Pacific Resources

Silver Spur Saloon

Silver Sage Middle School

Smith, Mr. Byron F.

Sparks Elks Ladies

Spinola, Mr. John

Stonick, Mr. and Mrs. Victor H.

Thomas P. and Thelma B., Hart Foundation

Tilford, Mr. and Mrs. Dave

Townsend, Senator Randolf J.

Trent, Ms. Gigi

Trisler, Mr. and Mrs. James, A.

Turner, Mr. and Dr. Jeff

Upton, Mr. Edward

United States Naval Air Station, Fallon Chapel

Vaca, MD, Dante

Veerendra-Babu, BR

Kodandaraman, Mr.

Vig, Mr. and Mrs. Gargi

Wadia, MD, Gurjeet

Walsh, Mr. and Mrs. James M.

Washoe County Public Guardian’s Office

Waterhouse, Ms. Linda D.

Waterman, Mr. Donald W.

Watts, Mr. and Mrs. Donald W.

20

This is your time. This is your chance. Leave a lasting mark on the place you love.

A bequest can literally change the future of our community. Designate a percentage of your estate to an endowment to benefit an organization or cause you feel passionate about. This may well be the largest single gift you will ever make in your lifetime and will affect generations to come.

What inspires you? Do you want to preserve that grove of trees by the river that you fished under as a kid? Do you want to improve the old school building or train teachers to teach science in the outdoors? How about contributing to the expenses of the musical artists and venue where you and your beloved were moved to tears on a memorable night?

Talk with your family. Then, talk with us. Five percent of your estate will mean a world of difference to your commu-nity and leave your lasting legacy for generations to come.

The members of the Legacy Society have made a planned or estate gift to a fund at the Community Foundation of Western Nevada. Their generosity will be the source of a constantly flowing, charitable, well-spring of funds to nurture causes meaningful to them.

ConneCT To THe fuTure wiTH a planned gifT

21

Sample BequeSt language

A bequest to the Community Foundation of Western Nevada is simple to make part of your estate plans. You may instruct your legal counsel to include in your will the following statement,“I give and bequeath _________________________ (amount or percentage of your estate) to the Community Foundation of Western Nevada, a nonprofit organization. This gift of an endowment fund shall be known as ______________________ (choose a name for your fund) This fund shall be devoted to the support of the following charitable causes or nonprofit organiza-tions:___________________________________.

AnonymousRobin Ballentyne

Kim BeckerJan and Mary Beekhuis

Carol Ann CarrollSusan Davenport

Arthur and Shirley Di SalvoReggie Dunbar

Steve and Debra FinnellKaren Foissotte

Robert and Monica HemsathBruce James

David and Dee Dee JensenVirginia M. Mansfield

Mary McGrath Michael and Theresa Meyer

Elizabeth MollathAlfred and Lola Ouska

Rosalie K. QuesnoyAlice Ramlow

John and Patricia SnyderNadine Stagelmeyer

Rachel StruveLarry Struve

George SummerhillLilli TrincheroJill M. Winter

Legacy Society

Professional Advisory Council

The Professional Advisor Council is a group of seven pro-fessional advisors who have a history of working especially closely with the Community Foundation of Western Nevada. In partnering with us they have referred clients and colleagues to the Community Foundation, attended its events and are serving as charitable giving resources in their respective fields. The staff liaison to the PAC is Ralph Vroman, Community Foundation Controller. Their volun-teer board committee chairman is Tony Termini.

Elaine Alexander Andrea KnappBruce Brugler Don RossJohn Boyd Tom SeeligerThomas Hall

22

Jennifer Satre Sallie Armstrong Richard Barnard John Mulligan Butch Anderson Kathie Bartlett Fred Boyd

Rebecca Dickson Mendy Elliot Brian Kennedy Diana Kern Linda Smith Jim Webster Norma Webster

John Badwick Kim Becker Annette Bidart Kathie Dees Barbara Drake Thomas Hall Gail Humphreys

Sheila Leslie Cary Lurie Magda Martinez Hoffman

Maureen Mullarkey

Jim Pfrommer Alicia Reban Toni Termini

23

board of TrusTeesJennifer Satre, Chair

Chair of the Executive Committee

Sallie B. armStrong, ViCe Chair Development Committee

riChard Barnard, treaSurer Finance Committee Chair

John mulligan, SeCretary

ButCh anderSon, truStee Investment Committee Chair

Kathie Bartlett, truStee Program Committee

fred Boyd, truStee Development Committee

reBeCCa diCKSon, truStee Development Committee

mendy elliott, truStee Development Committee

Brian Kennedy, truStee Finance Committee

diana Kern, truStee Program Committee Chair

linda Smith, truStee Development Committee Chair

JameS WeBSter iii, truStee

Immediate Past President, Executive, Development and Finance Committees

norma WeBSter, truStee

Board Development Committee

adVisory board

John BadWiCK, Investment CommitteeKim BeCKer, Development Committeeannette Bidart, Investment CommitteeKathie deeS, Program CommitteeBarBara draKe, Program CommitteethomaS hall, Investment Committeegail humphreyS, Finance CommitteeSheila leSlie, Program CommitteeCary lurie, Program Committeemagda martinez hoffman, Development Committeemaureen mullarKey, Finance CommitteeJim pfrommer, Investment CommitteealiCia reBan, Program Committeetoni termini, Development Committee

emeriTus boardRobert Armstrong David TurnerNancy Fennell Col. William Van Allen (1914-2004)Mark Knobel Ronald Zurek

24

donorsThe following individuals and organizations made gifts to the Community of Western Nevada in 2007. Some of the people listed established new funds or added to existing funds. Others gave in honor or memory of friends or relatives.

255 North Sierra Street LLC

Accela, Inc.

Access to Healthcare Network

Adams, David M.

Al’s Excavating and Grading, Inc.

All American Aire, Inc.

Allied Washoe Petroleum

American Legion Post 16

AMP Resources

Anderson, Mr. and Mrs. Jack L.

Anonymous

Armstrong, Mr. and Mrs. Robert

Arzuaga, Vic

Ashley, Mr. and Mrs. George

Askin, Mr. and Mrs. Chris

Atlantis Casino Resort

Ausherman, Mr. and Mrs. Vernon

Auto Pros Motor Company

Avansino, Melarkey, Knobel & Mulligan

B & J, Inc.

Badwick, Mr. and Mrs. John

Bailey, Deborah

Ballantyne, Dr. Robin

Bangert, Sylvia

Bank of America United Way Campaign

Banker, Mr. and Mrs. Bill

Bartlett, Mr. and Mrs. Syd

Baugus, Michael A.

The Bauserman Group

Baushke, James L.

Baxley, Gayle

Becker, Jane Kimberly

Bein, Marti N.

Belosic, Victor J.

Bennett, Dana R.

Berkove, Mr. and Mrs. Lawrence I.

Bernhard, Mr. and Mrs. Alex K.

Bietz, Gretchen

Bingham, Mr. and Mrs. Dave

Blackwood, Mr. and Mrs. R. S.

Bolt, Mr. and Mrs. Harold M.

Bolton, Mr. and Mrs. Carl

Borrus McKean, Debra B.

Bowker, Elizabeth

Bristol, Mr. and Mrs. James C.

Brosy, Dr. Paul

Brown & Brown Insurance of Nevada, Inc.

Bunge, Jim D.

Cabela’s

California Sierra Express, Inc.

Callahan, Tammy

Capital City Distributing

Capital Glass, Inc.

Capstone Partners

Caramella Family LTD Partnership

Cardenas, Mr. and Mrs. Raymond

Carson Medical Group

Carson River Community Bank

Cashell Enterprises, Inc. – Alamo Travel Center

Castiglione, Mr. and Mrs. John M.

Catamount Fund

Certified Home Improvements, Inc.

Challenger, Mr. and Mrs. Charles W.

Charles H. Stout Foundation

Charles Schwab & Co., Inc.

Charter Communications

Chatburn, Mr. and Mrs. John R.

Chiavini, Mr. and Mrs. Paul

Christensen, Virgil

Chubb, Janet L.

Circus Circus of Reno

City National Bank - Los Angeles

City of Reno

Clark, Ellen and Tracy

Clarke, Barbara Bradley

Clarno, Mr. and Mrs. Roy

25

Clift, Claire J.

Coe, Jack

Coeur Rochester Inc.

Coldwell Banker Plummer & Associates, Inc.

Coleman, Mr. and Mrs. Robert E.

Colescott, Mr. and Mrs. W. E.

Coli, Mr. and Mrs. Sebastian J.

Conn, Mr. and Mrs. Michael E.

Dalrymple, Mr. and Mrs. William H.

Davidsaver, Mr. and Mrs. Richard

Davis, David

Davis, Mr. and Mrs. Kurt

Dean, Mr. and Mrs. Darrel A.

Dedolph, Mr. and Mrs. John F.

Dees, Mr. and Mrs. Jim

Delaney, Shirley M.

Delappe, Joseph P. and Laurie Macfee

Dickson Realty

Dillon, Mike

Doyle, Mr. and Mrs. John M. Dreamstreet

Dunton, Mr. and Mrs. Alan J.

E.L. Cord Foundation

Egan Commercial Real Estate

Elliott, Mendy

Enterprise Rent-A-Car

Estep, Mr. and Mrs. Philip M.

Farahi, Ben

Ferrara, Mr. and Mrs. Thomas A.

Ferreira, Mr. and Mrs. Ernest

Fey, Christine A.

Finnell, Debra

First Independent Bank of Nevada

Flesia, Mr. and Mrs. Thomas L.

Flynn, Julia E.

Folchi, Mr. and Mrs. Albert L.

Foundation 36, Inc.

Francis, Mr. and Mrs. James W.

Fredricksen, Eric

Friends of Midas

Friends of Nevada Wilderness

Friends of Washoe County Library

Fry, Mr. and Mrs. Paul D.

Gadbois, Mr. and Mrs. Garry

Galentine, Mr. and Mrs. Robert

Galli, Mr. and Mrs. Rudy

Gash, Mr. and Mrs. Roger

Gasoline Alley

Geddes, Mr. and Mrs. David

Ghiglieri, Lucille

Gibbons, Governor Jim

Gilbert, Mr. and Mrs. Richard J.

Gilmore, Mr. and Mrs. Walter

GivingNet, Inc.

Glenn, Mark

Gordon, Diane

Grand Sierra Resort and Casino

Granite Construction Company

Greiner, Jill

Griffith, Martin R.

Grimm, Klause

Grows, Mr. and Mrs. Neal E.

Guinn, Mr. and Mrs. Kenny C.

Hammond, William R. and Pamela Cheek

Harmon, Mr. and Mrs. Brent

Harrah’s Operating Company, Inc.

Hart, Leslie Bryan

Hatch, Mr. and Mrs. Robert

Hatch Health Benefits Associates

Heiman, Alice R.

Heinrich, Jon K.

High Desert, Inc.

High Sierra Industries

Hinderks, Dr. and Mrs. Larry

“ Determine that the thing can and shall be done, and together we will find the way.

— Abraham Lincoln”

2002

26

Historic Fourth Ward School Foundation

Hobson, Chip

Hoffman, Mr. and Mrs. William R.

Holabird, Mr. and Mrs. Fred

Homegate Realty of Reno

Hood, Mr. and Mrs. John E.

Hoover, Anne

Hopper, Mr. and Mrs. Carl V.

Ingbar, Carolyn C.

Iron Nation Motorcycle Club

Isaac, Ben E.

Jacobs, J. F.

Jeff Codega Planning & Design, Inc.

Jensen Precast

Jewish Communal Fund

Johnston, Mr. and Mrs. Patrick

Jones, Jessica B.

Karraker, Col. (Ret) and Mrs. Perry

Keenan Hopkins Suder & Stowell Contractors

Kellenberger, Mr. and Mrs. Richard L.

Kern, Diana

Kern, Richard R.

King, Mr. and Mrs. Tony

Knapp, Mr. and Mrs. Michael J.

KNPB - Channel 5

Lahey, Mr. and Mrs. Thomas J.

Lake Crest Homes

Landa, Mr. and Mrs. Larry M.

Leeds, Mr. and Mrs. Jim T.

Leggett, Kathleen K.

Leneaux, Grant F.

Leonard, Gwen, Survivor’s Trust

Let Rich Do It

Levy, Mr. and Mrs. Richard M.

Lotus Radio Corporation

Lund, Mr. and Mrs. Allan B.

Lundahl & Associates

Lurie, Cary

Lutheran Church of the Good Shepherd

Lynch, Patricia A.

Lyon, Mr. and Mrs. Stan L.

Madau, Cindra

Maddalena, Mr. and Mrs. Tony

Marsh, Charlotte

Maupin, Cox & LeGoy

McCleary, Gay

McCool, Andy M.

McCormack, Brendan M.


McIntosh, Mr. and Mrs. Michael

McMahon, Mr. and Mrs. H. Markley

McMullen, Mr. and Mrs. Samuel P.

McQuirk, John

Media Directions, Inc.

Mendiola, Mr. and Mrs. Vince

Meridian Gold Company

Meyer, Mr. and Mrs. Michael

Microsoft Licensing

Microsoft Matching Gifts Program

Miles Properties, Inc.

Milhollan, Ann

Miramon, Beth

Mitchell, Mr. and Mrs. Mark

Moonlighting Personnel Management Services

Morrison, Mr. and Mrs. James T.

Mortara, Pam A.

Muhonen, Mr. and Mrs. Gary

Myers, Thomas T.

Neusel, Eric J.

Nevada Humanities Committee

Nevada Land & Resource Co., LLC

Nevada Security Bank

Nevada State Bank

Nevada Veterinary Medical Assoc.

Newberry, Mr. and Mrs. Kenneth D.

Nicholas, Rose

Nichols, Mr. and Mrs. Jim T.

Nolan, John D.

Noonan, Dr. David and Dr. Elisabeth

Northern Nevada Women Lawyers’ Association

Northwood Properties, LLC

donors ConTinued

27

Nyblom, Mr. and Mrs. Jon A.

Oliver, Mallory

Oliver-McClure, Emilie

Olsen, Warner

Opthalmic Help Fund

Orange County Community Foundation

Orlich, Joy

Pacific West Service Company, LLC

Panter, Stephen D.

PAR Electric

Parasol Tahoe Community Foundation

PTA, Caughlin Ranch Elementary

Parents Association of Sage Ridge School

Paul Helms & Associates Counseling Center

PDC, LLC

Peppermill Hotel Casino

Perrott, David W. and Ludvina K.

Persing, Mr. and Mrs. Casey S.

Peters, Mr. and Mrs. Gordon A.

Pfrommer & McCune, LTD

Pickett, Mr. and Mrs. Norton

Pincolini, Mr. and Mrs. Bruno

PineCrest Construction & Development, Co

Planeta, Mr. and Mrs. R. C.

Prasad, Bhavani D.

Putnam, Mr. and Mrs. Jerry

Quebecor World Nevada

Queenstake Resources USA, Inc.

R & R Partners, Inc.

Raggio, Senator William J.

Ramelli, Mr. and Mrs. Greg M.

Reed, Mr. and Mrs. Bob

Reno Business Interiors, Inc.

Reno Chamber Orchestra

Reno Radio Representatives, LLC

Reno Sparks Indian Colony

Reno Sparks New Car Dealers Assoc.

Reno Tahoe RSVCA

Reno Toyota-Scion

Republican Women of Reno

Richard, Robert J.

Richards, Mr. and Mrs. Garth S.

Richison, Mr. and Mrs. David L.

Robert M. Lee Foundation

Robert S. & Dorothy J. Keyser Foundation

Robert Z. Hawkins Foundation

Robinson, Mr. and Mrs. Steven A.

Ronald L. Olson Foundation

Rotary Club of Portola

Rotary Club of Central Reno

Rowe, Michael S.

Rowley, Mr. and Mrs. Floyd, Jr.

Sage Ridge School

Saint Mary’s Regional Medical Center

Saltern Investments

Satre, Mr. and Mrs. Phil

Savant, Dr. Troy D.

Scheckla, Julie A.

Schouweiler, Bart M.

Schumacher, Deborah E.

Scofield, Sherry

Seismic Events

Serpa, Mary A.

Service 1st

Seymour, Mr. and Mrs. Kenson L.

Shappell, Mr. and Mrs. Scott D.

Sharpe, Mr. and Mrs. Darwin A.

Shelton, May Sagawa

Shipman, Mr. and Mrs. Bruce J.

Shreve, Robert M.

Sieben, Tonya M.

Siegel, Mr. and Mrs. Thomas F.

Sierra Nevada Geothermal, Inc.

Sierra Nevada Republican Women

Sierra Pediatrics

Silver Legacy Resort Hotel

Silver Oak Development Company, LLP

Silver, Mr. and Mrs. Le Roy H.

SilverStar Associates, Inc.

Simmonds, Richard C.

Simon, Mr. and Mrs. Merrill J.

Skogerson, Mr. and Mrs. Kent E.

Smejkal, Nanette L.

Smith, Dr. and Mrs. Ron L.

2005

28

donors ConTinuedSmith, Jennifer A. Smith, Mr. and Mrs. MichaelSmith, Mr. and Mrs. Wayne B., Sr.Snyder, Mr. and Mrs. John Somersett Development Company, LLC Sommer, Linda Sons of Italy Soroptimist International of Truckee Meadows Spain, StaceySparks Chamber of Commerce Stamps, Andrew A. and Patricia LynchStocke, Mike A. Stockman, Mr. and Mrs. DonaldStoever, Theodore R.Struffert, Leigha S.Summerhill, George A., Jr.Summit Racing EquipmentSun West Bank Sundance Transport, Inc.Svensrud, Mr. and Mrs. Norman L.Sylvester, Mr. and Mrs. MichaelTaser International Taylor, Mr. and Mrs. Clifford B.Taylor, Jerie L. Tenet Healthcare FoundationTerry Lee Wells Foundation, Inc.Thomas, KateThomas P. and Thelma B., Hart Foundation

Timberline Electric

TMX, Inc.

Trachok, Richard M., II

Transplant Network

Trinchero, Lilli

TriWest Healthcare Alliance

Truckee Meadows Growth Management Task Force

Tucevich, Mr. and Mrs. Donald

United Way of Northern Nevada & the Sierra

University of Nevada, Reno

Val-U-Corp Services, Inc.

Van Alyne, Mr. and Mrs. Roger

Vanguard Charitable Endowment Program

Vidler Water Company, Inc.

Villarreal, Diana S.

Vining, Mr. and Mrs. David

Voelz, G. Douglas and Carol Ann Carroll

Walker, Mr. and Mrs. Benjamin

Walmart Stores, Inc.

Walton, Mr. and Mrs. Donald

Washoe County

Washoe County Education Foundation

Washoe High School Adult Fund

Webster, Mr. and Mrs. Jim T.

Webster, Mr. and Mrs. Ranson

Weingand, Alan

Weissman, Mr. and Mrs. Z.

Welch, Mr. Thomas H. and Lisa Jackson

Wells Fargo Bank

Wells Fargo Community Support Campaign

Wells Fargo Foundation Education Matching Gift Program

West Haven Development Group, LLC

Whipp, Roberta

Whittaker, Mr. and Mrs. Bert

Willoughby, Mr. and Mrs. Calvin E.

Wilson, Linda J.

Wilson, Richard

Winnemucca Ranch

Winter, Brad

Wirth, Robert R.

Wittmuss, Mr. and Mrs. Gary A.

Wood Rodgers, Inc.

Woods, Mr. and Mrs. Daniel J.

Yeater, Mr. and Mrs. Clifford C.

Zampirro, Mr. and Mrs. Danny

Zaro, Mr. and Mrs. Raymond D.

Zonta Club of Greater Reno

Zunino, Madeleine

Zurek, Mr. and Mrs. Ronald

2008

29

funds of THe CommuniTy foundaTion

Donor Advised Family Funds

Armstrong, Robert and Sallie, Charitable Fund

Askin, Chris and Ann, Charitable Fund

Becker, Jack and Jane, Charitable Fund

Berry Family Charitable Fund

Bertolina, Chuck, Family Fund

Bingham, David and Janet, Charitable Fund

Blanchard Family Fund

Boyd, Fred, Charitable Fund

Brec Donor Advised Fund

Charney 1996 Trust Charitable Fund

Clarke, Barbara B., Family Fund

Comcowich, Paul and Jill, Family Fund

Doyle Charitable Fund

Fennell Family Fund

Fredricksen Green Foundation

Freedom Charitable Fund

Gabriel’s Fund

Hinderks Family Foundation

James, Bruce and Nora, Family Fund

Kennedy, Brian and Nancy, Foundation

Langson, Gladys and Don, Family Fund

Langson, Jack M., Fund

Laurenson Family Fund

Levy, Terri and Gray, Charitable Fund

Liberty Foundation Fund

Lurieland Foundation Fund

Miarecki Foundation

Meyer, Michael and Theresa, Foundation

Monen Callahan, Mary Ellen, Charitable Fund

Mollath, Linton A., Charitable Fund

Muhonen Charitable Fund

NEWT Christian Fund

Nichols Family Charitable Fund

Primm, Roger B., Family Charitable Fund

Rebecca’s Fund

Satre Family Fund

Sellyei, Louis F., Foundation

Sinai, David, Charitable Fund

Smith, Ron and Linda, Donor Advised Fund

Smith, Michael and Karren, Family Fund

Stoever, Theodore R., Charitable Fund

Thiessens, Jay and Bonnie, Literacy Foundation

Trinchero, Lilli, Charitable Fund

Turner, Jeff and Tracy, Charitable Fund

Webster, Jim and Karlene, Family Fund

Webster, Ranson and Norma, Foundation

Zurek Family Charitable Fund

Moana Pool Fund

30

Funds for or by Foundations, Non-Profit Organizations, Associations, or Businesses

Brewery Arts Center Fund

Carson City Rotary Foundation Fund

Catamound Fund

Champions of the Truckee River Fund

Church of Scientology Fund

City of Reno, Charitable Foundation Fund

Coldwell Banker Plummer & Associates Charitable Fund

Family Court Judicial Benevolent Fund for Children

Fernley Assistance Fund

Friends of Washoe County Library Fund

Girl Scouts of the Sierra Nevada Fund

Great Basin Exploration Center Fund

Great Reno Balloon Race Fund

Hillside Cemetery Foundation Fund

Kidview, Inc. Foundation Fund

KNPB-Channel 5 Public TV Fund

Lady Miner’s Basketball Fund

McDonald Carano Wilson LLP Charitable Fund

Moana Pool Fund

Mustang Heritage Foundation Fund

Nevada Discovery Museum Fund

Nevada Museum of Art Fund

Nevada Opera Association Fund

Nevada Patriot Fund

Northern Nevada Women Lawyers’ Association Charitable Fund

Parks and Cultural Arts Foundation Fund

Marguerite Wattis Petersen Foundation

Reno Central Rotary Club Foundation Fund

Rotary Club of Sparks Charitable Fund

Sage Ridge School Fund

Sons of Italy Fund

Soroptimist IGU-Nepal Scholarship Fund

Soroptimist International of Truckee Meadows Fund

Terry Lee Wells Foundation

Trinchero, Lilli, Celebrate Diversity Fund

Truckee River Foundation Fund

Truckee River Fund

United Way of Northern Nevada and the Sierra Donor Advised Fund

Zonta Club of Greater Reno Charitable Fund

Endowments Designated for or by Organizations

Rotary Club of Sparks Endowment

CARE Chest Endowment

Fourth Ward School Endowment

Friends of Washoe County Library – Hubbard Endowment

Friends of Nevada Wilderness Endowment

funds ConTinued

31

Grant, Evangeline, Memorial Music Endowment

Great Basin Outdoor School Endowment

Kendall, Robert E., Fourth Ward School Endowment

KNPB Endowed Fund

Lear Theater Endowment

Lutheran Church of the Good Shepherd Endowment

Mansfield Endowment for the Benefit of the Nevada Humane Society

Melton, Marilyn R., Endowment for the Humanities

Mortensen Nevada Historical Trust Fund

Nevada EcoNet Endowment

Nevada Humane Society Endowed Fund

Nevada Humanities Committee Endowed Fund

Oser, Margaret E., Endowment Fund for Women

Reno Chamber Orchestra Endowment

Reno Philharmonic Fund

ReStart Endowment Fund

ReStart Family Shelter Endowment

Special Recreation Services, Inc. Endowment

Trinity Episcopal Church Endowment

United Way of Northern Nevada and the Sierra Endowment

YMCA of the Sierra Endowed Fund

Zonta Club of Greater Reno Endowment

Family EndowmentsBender, Frank, Charitable Endowment

D’Anconia, Ricc, Endowment

James, Bruce R., Foundation Endowment

Smith, Ron and Linda, Family Endowment

Trinchero, Lilli, Celebrate Diversity Endowment

Webster, Jim and Karlene, Family Endowment

Memorial FundsMortara, Eugene, Memorial Endowment

Finnell, Lexi, Memorial Foundation

Oren, Cookie, Memorial Endowed Fund

Scofield, Officer Mike, Memorial Endowment

Tappan, Ross, Memorial Fund

Wilbanks, Emily Jane, Memorial Endowment

Friends of Nevada Wilderness Endowment

Great Basin Outdoor School Endowment

32

Field of Interest Funds Be Instrumental Arts Fund

Youth Endowment Fund

Community Foundation FundsCommunity Endowed Fund

Community Partnership Granting Program

Giving CirclesYouth2Give Circle

Youth In Philanthropy High School Giving Circle

Trust FundsDunbar, Regina L., 2006 Revocable Trust

Leonard, Gwenevere F., C.R.U.T.

Scholarship FundsAnderson, Dora De, Endowment Scholarship Fund

Bartlett, Matt, Memorial Foundation Scholarship Fund

Becker, Jack and Jane, College Scholarship Fund

Belding, Orville, Memorial Scholarship Endowment

Boyd, William, School of Law Scholarship Fund

Depoali, Kendyl Ruth Williams, Memorial Scholarship Fund

Hispanic Heritage Day Nursing Scholarship Fund

Jones, Clarence “CJ”, Memorial Scholarship

Karraker, William, Scholarship Endowment

Mollath, Linton A., Family Scholarship

Nevada Veterinary Medical Association Scholarship Fund

Northern Nevada Women Lawyers’ Association Scholarship Fund

Read With Me Scholarship Endowment Fund

Reno Pops Orchestra Scholarship Endowment

Satre, Philip & Jennifer, Harrah’s Employees Scholarship Fund

Joseph Scafidi Pound-for-Pound Award

Daniel Scafidi Greater Nevada Male Athlete of the Year Award

Snyder, Nicole, Memorial Scholarship Fund

Wilbanks, Emily Jane, Memorial Scholarship Fund

Williams, Claudine, Harrah’s Las Vegas Employees Scholarship Fund

Zonta of Greater Reno Scholarship Fund

Joseph and Daniel ScafidiKendyl Depoali

33

organizaTions THaT reCeiVed granTs from funds of THe CommuniTy foundaTion of wesTern neVada in 2007Adington Eye Center*

Advanced Health*

Alhambra High School

ALS Association, San Francisco

Alzheimer’s Association

American Heart Association

American Liver Foundation

American Lung Association of Nevada

American Red Cross, Northern Nevada Chapter

American Red Cross, Sacramento Sierra Chapter

Angel Kiss Foundation, Inc.

Animal Ark

Anti Defamation League

Arnaldo F. Trabucco, M.D.*

Artown

Associated Anesthesiologists of Reno*

Associated Gynecology*

Athletic Association, University of Nevada

AYSO Carson City

Best Friends Animal Society

Big Brothers Big Sisters of Nevada

Bishop Manogue High School

Bob Van Landingham Memorial Scholarship

Boy Scouts of America Nevada Area Council

Boys and Girls Club of Truckee Meadows

Boys and Girls Club of Western Nevada

Bridge Center

Camp Care Nevada

CARE Chest of Sierra Nevada

Carmelite Monastery of Reno

Carson High School

CASA (Court Appointed Special Advocate Program)

Castilleja School Foundation

Catamount Fund

Catholic Community Services

Central Lyon Youth Connection

Central Minnesota Community Foundation

Champions of the Truckee River

Children’s Cabinet, Inc.

Church at Seven Hills

Church of Jesus Christ of Latter-Day Saints

Church of Scientology Mission of Santa Monica

Church of Scientology Sierra Nevada Mission

Best Friends Animal Society

34

Church of Scientology, Flag Service Organization

Churchill County - Juvenile Probation**

Circle’s Edge Religious Science Church

City of Reno

Coach Art

Coeur d’Alene High School PTA

Committee to Aid Abused Women

Community Cabinet

Community Services Agency and Development Corp.

Congregation Beth Israel

Congregation Temple Emanu-El

Crisis Call Center

David Cox Elementary School

Desert Classic Charities

Dirne Community Health Clinic

Disability Resources

Dolce Salon and Day Spa*

Dr. David B. Chaffin*

Dr. Rick Winkleman*

Eagle Valley Middle School

Echo Loder Elementary School

Family Eye Care Associates*

Family Support Council of Douglas County

Field Museum

Food Bank of Northern Nevada

Food for Thought

Friends of the Clark County Public Library

Friends of Washoe County Library

Gastroenterology Consultants*

Gathering Genius, Inc.

Girl Scouts of the Sierra Nevada

Grace Cathedral

Great Basin Institute

Great Basin Outdoor School

Great Reno Balloon Race

Greg Pisani, D.D.S.*

Guide Dogs for the Blind

H.E.L.P. Animals, Inc.

Habitat for Humanity - Orange County Chapter

Hamlin School

Hayden Meadows Elementary School PTA

Heifer Project International

Historic Fourth Ward School Foundation

Holland Project Reno

Horses for the Spirit

House of Blue Hope

Hug High School

Independent Institute, Inc.

Integrative Therapeutic Massage*

Joseph McMullen, D.D.S.*

Junior Achievement of Northern Nevada

Keaton Raphael Memorial Fund

Keep Memory Alive Foundation for Lou Ruvo Alz

Keep Truckee Meadows Beautiful

Kevin Kleine, M.D.*

KNPB - Channel 5

organizaTions THaT reCeiVed granTs ConT.

Habitat for Humanity

35

KUNR FM 88.7

La Jolla Community Church

LabCorp*

League to Save Lake Tahoe

Let ‘Em Run Foundation

Leukemia & Lymphoma Society

Libby Booth Elementary School

Lifeblood

Loyalton High School Booster Club

Lucille Packard Children’s Fund

Lutheran Church of the Good Shepherd

Make a Wish Foundation

Marine Corps Base

Masonic Charities of Nevada, Inc.

McQueen High School

Medschool Associates - North*

Mental Health Medical Associates*

Miss Reno-Sparks and Miss University of Nevada

Mont Pelerin Society

Monterey Bay Aquarium

Motor Racing Outreach

Mountain View Dental*

Northern Nevada Women Lawyers’ Association

Nancy Podewills, MSW, LCSW*

Napa Valley Wine Auction

National Automobile Museum

National Breast Cancer Coalition Fund

National D-Day Museum

National Multiple Sclerosis Society

Neurodevelopmental Neurodiagnostics*

Nevada Cancer Institute

Nevada Diabetes Association

Nevada Discovery Museum

Nevada Hispanic Services

Nevada Hispanic Services, Inc. – Carson City

Nevada Historical Society

Nevada Humane Society, Inc.

Nevada Humanities Committee

Nevada Land Conservancy

Nevada Museum of Art

Nevada Network Against Domestic Violence

Nevada Orthopaedics and Rehabilitation*

Nevada Partnership for Homeless Youth

Nevada Patriot Fund

Nevada Policy Research Institute

Nevada Rock Art Foundation

Nevada Women’s Fund

Newport Harbor Educational Foundation

Newport Heights Elementary School Foundation

Noah’s Wish - Animal Rescue

Northern Nevada Foundation

Northern Nevada H.O.P.E.S. Pharmacy*

Horses for the Spirit

36

Northern Nevada RAVE Family Foundation - NNRF

OB-GYN Associates*

Olsen & Associates

Orthodox Christian Mission Center

Pioneer Center for the Performing Arts

Planned Parenthood Mar Monte

Pleasant Valley Elementary School

Plumas Volleyball Club

Pond Elementary School

Pyramid Lake Paiute Tribe

Quest Counseling and Consulting, Inc.

Rainshadow Community Charter High School

Reno American Little League

Reno Catholic Club – Young Life Camp **


Reno Eye Clinic*

Reno Firefighters Community Assistance

Reno Foot Doctor*

Reno Heart Physicians*

Reno Open Air M.R.I.*

Reno Orthopaedic Clinic, Inc.*

Reno Philharmonic Association

Reno Radiological Associates Chtd*

Reno Rotary Foundation

Reno Sparks Gospel Mission

Renown Health*

Renown Health Foundation

ReStart, Inc.

Ridge House

Rochester Institute of Technology

Rock Church

Ronald McDonald House Charities, Northern Nevada

Rotary Club of Wichita Kansas

Sage Ridge School

Saint Mary’s Eye Institute*

Saint Mary’s Foundation

Salvation Army

Santa Clara University

Sears Optical**

Seeliger Elementary School

Sempervirens Fund

Sierra Anesthesia, Inc.*

Sierra Arts Foundation

Sierra Bible Church

Sierra Chiropractic*

Sierra Nevada Community Sailing

Sierra Nevada Nephrology Consultants*

Sierra Pulmonary and Sleep Consultants*

Sierra Youth Football League

Skin Cancer & Dermatology Institute*

Soroptimist International of Truckee Meadows

South Meadows Endoscopy Center*

South Reno United Methodist Church

Southern Utah University

organizaTions THaT reCeiVed granTs ConT.

Artown

37

Sparks High School

St. Andrew’s Presbyterian Church

St. Jude Children’s Research Hospital

St. Vincents Dining Room

Step 2

Susan G. Komen Race for the Cure Northern Nevada

Tahoe Douglas Youth and Family Services

Tahoe Regional Planning Agency

Target**

Temple Emanu-El

That Man May See, Inc.

Think Together

Thunderbird Lodge Preservation Society

TMCC Re-Entry Center

Transplant Network

Trinity Episcopal Church

Truckee Donner Land Trust

Truckee Meadows Habitat for Humanity

Truckee River Foundation

U.C. Davis

United Negro College Fund

United Way of Northern Nevada & the Sierra

University of Nevada, Reno - Athletics Dept.

University of Nevada, Reno - College of Engineering

University of Nevada, Reno Foundation

University of Southern California

Urology Institute*

Veteran’s Guest House, Inc.

Veterans of Foreign Wars

Veterans of Foreign Wars of the U.S. Post 381

Victoria Wallington, L.M.T.*

VSA Arts of Nevada

W.A.I.F. - Wild Animal Infirmary of Nevada

Walmart**

Washoe County Children’s Mental Health Consortium

Washoe County Dept. of Juvenile Services**

Washoe County Dept. of Water Resources

Washoe County Education Foundation

Washoe County Library Systems

Washoe County School District

Washoe County School District Police Department

Washoe Legal Services

Wesley W. Hall, Jr., M.D.*

Western Folklife Center

Western Nevada Community College

Western Pathology Consultants*

White Pine County Library

Wild Island Family Adventure Park**

Wooster High School - Football Program

Youth ArtWorks

* Medical professionals paid by the Access to Health Care Fund for health services performed for low-income clients.

** Goods and services such as retail gift cards for clothes and school supplies, a graduation swim party and camp registrations were pur-chased by the Family Court Judicial Benevolent Fund for Children

*** Grants were given to families of fallen Nevada soldiers by the Nevada Patriot Fund. Families’ privacy is respected and names are not published.


Pho

to: T

her

esa

Dan

a-D

ou

gla

s

38

CommuniTy parTnersHip granT program

Our Business is Building Community

Inaugurated in June 2007 The Community Partnership Grant program granted nearly $240,000

to 25 nonprofit organizations from northern Nevada for capacity building grants.

The Community Partnership Grant program is funded by contributions from Community Foundation fund-holders who agreed to direct a portion of their funds’ earnings to the program. In addition, a significant donation was made by the Ronald L. Olson Foundation and gifts were added through direct grants from several fund holders.

The Community Foundation works to strengthen all of our region’s nonprofit organizations. By focusing on capacity building grants all public service agencies, whether they are working to protect our open space, shelter and feed the homeless, educate our children or expose our citizens to artistic and cultural opportunities, can benefit from this grant program. The capacity building grants are divided into three categories:

1. Endowment Building and Planning

2. Technological Improvements

3. Professional Development for Key Management Positions

Organizations were invited to apply for a grant in the one category that will most help them serve the public good.

Our partners have placed their trust in the Community Foundation to strengthen the nonprofit community in a manner that is not possible by an individual gift or fund. We honor that trust.

The 2008 grants will be announced at the Annual Meeting.

2007 CPG grant winners

39

organization Grant Use Alzheimer’s Association for Northern California Technology – new computer, LCD projector and screens and Northern Nevada .............................................................to present education and peer support programsArtown .........................................................................................Professional developmentBig Brothers Big Sisters of Northern Nevada .............................Professional developmentBoys and Girls Club of Truckee Meadows ..................................Technology – 15 new computersBoys and Girls Club of Western Nevada ....................................Endowment building plan and trainingCARE Chest of Sierra Nevada ......................................................Technology, new computers, software and office machinesChildren’s Cabinet .......................................................................Technology – new case management systemCommunity Chest ........................................................................Endowment building campaignCrisis Call Center ..........................................................................Technology – new computers and printersFamily Support Council of Douglas County ...............................Technology – new filing systemFood Bank of Northern Nevada .................................................Endowment building trainingNevada Diabetes Association for Children and Adults Technology ..................................................................Customized softwareNevada Hispanic Services of Carson City ....................................Technology – bilingual computer labNevada Land Conservancy ..........................................................Endowment building – a strategic planning programNevada Museum of Art ...............................................................Technology – Donor research servicesNevada Network Against Domestic Violence ............................Professional development to develop next generation of leaders in the Domestic Violence movementNevada Rock Art ..........................................................................Technology – new computer and softwareNorthern Nevada RAVE Family Foundation ..............................Technology – new computer and softwareReStart .........................................................................................Technology – new computer softwareRidge House .................................................................................Technology – new billing and scheduling softwareSierra Arts Foundation ................................................................Technology – to create a master art calendar and websiteSpecial Recreation Services .........................................................Professional development, Tuition for the UNR Nonprofit Management Institute, American Sign Language classes, and certification for therapeutic camp directorsTahoe Douglas Youth and Family Services .................................Technology – new computers and equipmentWashoe Legal Services ................................................................Technology – office machines and computersWhite Pine County Library ..........................................................Technology – 2 new computers and workstation software for youth at the Library

2007 granTs

40

53 new sTudenTs will be aTTending sCHools aCross THe naTion and Here aT Home wiTH Help from CommuniTy foundaTion sCHolarsHip funds

Brandon CarrClaudine Williams

Harrah’s Las Vegas Employee Scholarship

Matthew CatesPhil and Jennifer Satre

Harrah’s Employee Scholarship

Milagro ExpositoClaudine Williams


Diana HaClaudine Williams


Jenny HaClaudine Williams


Shaili JhaPhil and Jennifer Satre


Allie HughesThe Nicole Snyder

Memorial Girl’s Sports Scholarship

Trea LaCroixClaudine Williams


Christina McCartyClaudine Williams


Michael MerkhPhil and Jennifer Satre


April PerkinsZonta Club of Greater Reno

Memorial Scholarship

Troy ShieldsThe Nicole Snyder Memorial Boy’s

Sports Scholarship

Sara Carlson

Matt Bartlett Memorial Scho

larship

41

The Matt Bartlett Memorial Scholarship

Established to honor the memory of Matt Bartlett by providing a college scholarship to a graduate of Reno High School who exhibits a zest for art, music, and the outdoors.

2008 Recipient:Sara Carlson

Jack and Jane Becker Memorial College Scholarship FundCreated by Kim Becker in honor of her parents. Scholarships are awarded to support:

n Graduates from Nevada High Schools attending University of Nevada School of Medicine

n Native American Nevadans Attending the University of Nevada School of Medicine

2008 Recipients:Jennifer Horsley

Kevin Gamett

Lawrence “CJ” Jones Memorial Scholarship for the Regional Technical InstituteEstablished to support graduates from the Regional Technical Institute in their endeavors to obtain a techni-cal certificate or degree from Truckee Meadows Community College.

2008 Recipients: Jasmine Dulgar

Teresa Reyna

Hispanic Heritage Day Nursing Scholarship FundEstablished to encourage young women of Hispanic heritage to enroll in Truckee Meadows Community College or University of Nevada, Reno as Nursing majors.

2008 Recipients: Melyssa Gelles attending University of Nevada, Reno

Tracey Rodriguez attending University of Nevada, Reno

Cristina Bedolla attending Truckee Meadows Community College

William Karraker Memorial Scholarship To provide an educational award to the recipient of the William Karraker Youth Award, as presented annually by the Stockton Civic Theater.

2007 Recipient: Meredith Pratt

Matt Bartlett

We don’t accomplish anything in this world alone... whatever happens is the result of the full tapestry of life and the weavings of individual threads from one to another that creates something.

— Sandra Day O’Connor

“

”

42

Linton Mollath Family College and Vocational School Scholarships Established by the Mollath family to provide support for graduates of Quincy High School to attend the university or vocational school of their choice.

2008 Recipients:Cody T. Froggatt from Quincy High School to University of Nevada Reno

Nevada Veterinary Medical Association Scholarship Fund A scholarship fund to support outstanding students in their 3rd and 4th year at Veterinary schools throughout the United States.

2008 Recipients: Amanda Ciliax to Washington State University

Schyler Hiibel to Colorado State University

Read With Me Scholarship Fund This scholarship encourages par-ents to read with their children and pays full tuition for one year of approved preschools for children with financial need and an aptitude for reading.

Phil and Jennifer Satre Harrah’s Employee ScholarshipA scholarship fund designated to support the education goals of the children of Harrah’s Entertainment Inc. employees throughout the United States, especially children of tip and wage earners, who are college bound high school seniors. This is a continuing 4 year scholar-ship to qualified students.

2008 Recipients: Matthew J. Cates from Excelsior Springs, MO to Kansas University.

Cho Y Chong from Sparks, NV to University of Nevada, Reno

Ria Daniels from Las Vegas, NV to UCLA

Niki L. Howard from Tinley Park, IL to Illinois State

Shaili C. Jha from Galloway, NJ to Rutgers University

Kevin G. McClain from Northfield, NJ to Boston College

Michael C. Merkh from Egg Harbor Township, NJ to William Patterson University

Rishabh D. Parikh from Galloway, NJ to Amherst College

Brian R. Petty from Omaha, NE to University of Nebraska

Robert C. Sibley from Shreveport, LA to Texas A & M

Greater Nevada Male Athlete of the Year Award The recipient of the Daniel Scafidi Greater Nevada Male Athlete of the Year Award is selected based on his strength of character and commit-ment to his team(s). The committee that selects the recipients is inter-ested most in rewarding nominees who are committed to the success of their teammates rather than their personal success.

2008 Recipient:Kelton Hall from Reno to University of Nevada, Reno

43

The Joseph Scafidi, Pound-for-Pound AwardThe recipient of the Joseph Scafidi Pound-for-Pound Award is selected based on strength of character and commitment to the team. This award is open to both male and female athletes. The committee that selects the recipients is interested most in re-warding nominees who are commit-ted to the success of their teammates rather than their personal success.

2008 Recipient:Sara Rooker from Reno to Sierra College, Rocklin CA

The Nicole Snyder Memorial Boy’s Sports Scholarship Open to Douglas High School gradu-ates in the 2007-2008 academic year who excelled in a varsity sport and are pursuing university, college, com-munity college, trade school, technical or vocational training, or other post-secondary education programs.

2008 Recipient:Troy Shields from Douglas High School to University of Nevada, Reno

The Nicole Snyder Memorial Girl’s Sports ScholarshipOpen to Douglas High School gradu-ates in the 2007-2008 academic year who were active in a varsity sport and who are pursuing university, college, community college, trade school, technical or vocational train-ing, or other post-secondary educa-tion programs.

2008 Recipient: Allie Hughes from Douglas High School to University of Nevada, Reno

The Nicole Snyder Memorial Softball ScholarshipOpen to Douglas High School grad-uates who participated in varsity softball in the 2007-2008 academic year and who are pursuing univer-sity, college, community college, trade school, technical or vocational training, or other post-secondary education programs.

2008 Recipient:Lauren Hoppe from Douglas High School to College of Idaho

Claudine Williams Harrah’s Las Vegas Employee ScholarshipA scholarship fund designated to support the education goals of the children of Harrah’s Las Vegas employees, especially children of tip and wage earners, who are col-lege bound high school seniors or are already attending college. This is a continuing 4 year scholarship to qualified students.

2008 Recipients:Charmaine Bradley from Las Vegas to College of Southern Nevada

Jose Caceros from Las Vegas to University of Nevada, Las Vegas

Nicole Snyder

44

Claudine Williams Harrah’s Las Vegas Employee Scholarship cont.2008 Recipients cont.Brandon Carr from North Las Vegas to University of Nevada, Las Vegas

Milagro Exposito from Las Vegas to University of Nevada, Las Vegas

Feven Girmay from Las Vegas to UCLA

Jenny Ha from Las Vegas to College of Southern Nevada

Diana Ha from Las Vegas to University of Nevada, Las Vegas

Mauricio Hurtado from Las Vegas to Colegio La Salle

Trea LaCroix from Las Vegas to University of Nevada, Reno

Timothy Lee from Las Vegas to University of Nevada, Las Vegas

Gina Lee from Henderson to Cal State University of Sacramento

Frances Marshall from Las Vegas to Whittier College

Christina McCarty from Mobile AL to University of South Alabama

Kristina Noel from North Las Vegas to Grambling State University

Ines Rosas from North Las Vegas to University of California, Berkeley

Brett Sebastian from Las Vegas to University of Nevada, Las Vegas

Gordon Tam from Las Vegas to University of Nevada, Las Vegas

Emily Jane Wilbanks Memorial Scholarship Established to support girls’ leader-ship with athletic and college schol-arships for senior class girls from Loyalton and Portola High School.

2008 Recipients: Portola High School:

Josephina Campbell to College of the Redwoods

Tyanna Housel to CSU Monterey Bay

Loyalton High School:

Kaitlin Smith to University of Chicago

Zonta Young Women in Public Affairs Award This is a scholarship for young wom-en ages 16 to 20 who have devoted time and energy to Public Service and plan to make a career in public affairs.

2008 Recipient:Vanessa Anderson from Sparks to Gonzaga University

Zonta Club of Greater Reno Memorial ScholarshipTo support educational goals of women re-entering higher educa-tion and the work force through the TMCC Re-Entry Program.

2008 Recipients:Jenny Malone, enrolled in Truckee Meadows Community College Dental Hygiene Program

April Perkins, to pursue a degree in radiology at Truckee Meadows Community

45

Independent Auditor’s ReportBoard of DirectorsCommunity Foundation of Western Nevada, Incorporated and Subsidiaries

We have audited the accompanying consolidated state-ments of financial position of Community Foundation of Western Nevada, Incorporated (a nonprofit organization) and Subsidiaries, as of December 31, 2007 and December 31, 2006, and the related consolidated statements of activi-ties and cash flows for the years then ended. These state-ments are the responsibility of the Foundation’s manage-ment. Our responsibility is to express an opinion on these statements based on our audit.

We conducted our audit in accordance with auditing stan-dards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit in-cludes consideration of internal control over financial re-porting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the compa-ny’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes exam-ining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also

includes assessing the accounting principles used and sig-nificant estimates made by management, as well as evaluat-ing the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the consolidated financial statements re-ferred to above present fairly, in all material respects, the financial position of Community Foundation of Western Nevada, Incorporated and Subsidiaries, as of December 31, 2007 and December 31, 2006, and the results of their activities and their cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Reno, NevadaJune 4, 2008

46

2007 2006Assets

Cash and cash equivalents $ 5,090,061 $ 2,520,441 Investments 40,840,124 28,084,898 Other assets 3,181 545 Contributions receivable 1,000,000 5,411,629 Pledges receivable 1,093,970 11,325 Property and equipment, net 2,228,631 2,235,638

Total Assets 50,255,967 38,264,476

LiabilitiesAccounts payable 19,359 21,747 Pledges payable 4,533,471 2,964,123 Funds held for others 5,197,847 3,019,093 Accrued liabilities - 1,311

Total Liabilities 9,750,677 6,006,274

Net AssetsUnrestricted 30,214,830 21,746,176 Temporarily restricted 8,194,826 9,422,351 Permanently restricted 2,095,634 1,089,675

Total Net Assets 40,505,290 32,258,202 Total Liabilities and Net Assets $ 50,255,967 $ 38,264,476

COMMUNITY FOUNDATION OF WESTERN NEVADA, INCORPORATED AND SUBSIDIARIESConsolidated Statements of Financial Position

December 31, 2007 and 2006

The attached auditor's report and notes should be read with the financial statements.

- 2 -

47

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Public support and revenues Contributions 8,890,256$ 4,070,333$ 1,005,271$ 13,965,860$ Rental income 152,494 - - 152,494 Investment income, net 2,074,098 529,366 2,057 2,605,521 Change in the value of split-interest trusts - 19,287 (1,369) 17,918 Miscellaneous income 52,465 - 52,465 Total public support and revenue 11,169,313 4,618,986 1,005,959 16,794,258 Net assets released from restrictions 5,846,511 (5,846,511) - -

Total public support, revenue, and transfers 17,015,824 (1,227,525) 1,005,959 16,794,258

Expenses Program services and grants 8,155,851 8,155,851 Rental expenses 70,259 70,259 General and administrative 298,206 298,206 Fund raising 22,854 22,854

Total expenses 8,547,170 - - 8,547,170

INCREASE (DECREASE) IN NET ASSETS 8,468,654 (1,227,525) 1,005,959 8,247,088

Net assets at beginning of year 21,746,176 9,422,351 1,089,675 32,258,202

Net assets at end of year 30,214,830$ 8,194,826$ 2,095,634$ 40,505,290$

Consolidated Statement of ActivitiesFor the Year Ended December 31, 2007

COMMUNITY FOUNDATION OF WESTERN NEVADA, INCORPORATED AND SUBSIDIARIES


- 3 -

48

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Public support and revenues Contributions 6,654,601$ 6,833,134$ 372,930$ 13,860,665$ Rental income 271,908 - - 271,908 Investment income, net 2,251,030 588,536 5,224 2,844,790 Change in the value of split-interest trusts - (3,774) (2,158) (5,932) Miscellaneous income 37,598 1,599 - 39,197 Total public support and revenue 9,215,137 7,419,495 375,996 17,010,628 Net assets released from restrictions 2,125,221 (2,155,769) 30,548 -

Total public support, revenue, and transfers 11,340,358 5,263,726 406,544 17,010,628 Expenses Program services and grants 8,065,379 8,065,379 Rental expenses 104,123 104,123 General and administrative 225,632 225,632 Fund raising 20,029 20,029

Total expenses 8,415,163 - - 8,415,163

INCREASE IN NET ASSETS 2,925,195 5,263,726 406,544 8,595,465

Net assets at beginning of year 18,820,981 4,158,625 683,131 23,662,737

Net assets at end of year 21,746,176$ 9,422,351$ 1,089,675$ 32,258,202$

COMMUNITY FOUNDATION OF WESTERN NEVADA, INCORPORATED AND SUBSIDIARIESConsolidated Statement of Activities

For the Year Ended December 31, 2006


- 4 -

49

2007 2006Cash flows from operating activities:

Cash received from contributions and rent $ 8,831,376 $ 3,285,178 Cash paid for gifts and grants (7,377,124) (8,328,394) Cash received from investments 1,980,811 5,990,600 Cash received for fund administration 52,465 39,197 Cash paid for expenses (394,502) (306,992)

Net cash provided by operating activities 3,093,026 679,589

Cash flows from investing activities:Payments for purchase of property and equipment (67,296) (6,562) Payments for purchase of investments (16,474,308) (16,394,932) Cash received from sale of investments 16,018,198 13,637,956

Net cash (used in) investing activities (523,406) (2,763,538)

Cash flows from financing activities:Payments made on note payable - (380,184)

Net (Decrease) Increase in Cash and Cash Equivalents 2,569,620 (2,464,133)

Cash and cash equivalents at beginning of year 2,520,441 4,984,574

Cash and cash equivalents at end of year $ 5,090,061 $ 2,520,441

COMMUNITY FOUNDATION OF WESTERN NEVADA, INCORPORATED AND SUBSIDIARIESConsolidated Statement of Cash Flows

For the Year Ended December 31, 2007 and 2006


- 5 -

50

2007 2006Reconciliation of increase in Net Assets to

net cash provided by operating activities:Increase in net assets $ 8,247,088 $ 8,595,465 Adjustments to reconcile increase in net assets

net cash provided by operating activities:Depreciation 74,697 72,975 Noncash contributions (9,053,741) (6,095,532) Net realized and unrealized loss (gain) on investments (928,110) 2,844,790 Change in:

Other Assets (2,636) - Pledges receivable 1,011,325 (5,406,229) Funds held for others 2,178,754 543,802 Accounts payable, grants payable,

and accrued liabilities 1,565,649 124,318 Net Cash Provided by Operating Activities $ 3,093,026 $ 679,589

Supplemental disclosures:Noncash investing activities:

Collection of pledge receivables by invesments $ 2,317,659 $ - Office equipment $ 394 $ 2,905

Cash paid for interest $ 1,418 $ 13,097

COMMUNITY FOUNDATION OF WESTERN NEVADA, INCORPORATED AND SUBSIDIARIESConsolidated Statements of Cash Flows

For the Year Ended December 31, 2007 and 2006


- 6 -

51

NoTE a – NaTURE oF aCTIVITIES aND SUMMaRY oF SIGNIFICaNT aCCoUNTING PolICIESA summary of the Foundation’s activities and significant accounting policies consistently applied in the preparation of the accompanying financial statements follows.

1 Nature of activities Community Foundation of Western Nevada, Incorporated and Subsidiaries, is organized as a non-

profit corporation under the laws of the State of Nevada to compliment and enhance the existing philanthrophic efforts of nonprofit organizations located in, or with a connection to, Western Nevada.

During 2000, the Foundation received a contribution of a limited liability company, CFX LLC. This wholly-owned subsidiary has partial ownership of three separate leaseholds. The leaseholds are buildings leased out to grocery stores in Colorado, Oklahoma, and Tennessee. In 2006, the debt on the buildings was paid off.

During 2003, the Foundation established Community Foundation California Property, LLC (CFCP, LLC). This wholly-owned subsidiary was created for the purpose of receiving donated property.

2 Principles of Consolidation The consolidated financial statements include the accounts of the Foundation and its wholly-

owned subsidiaries, CFX, LLC and CFCP, LLC. All material intercompany accounts and transactions have been eliminated.

3 Classification of Net assets Statement of Financial Accounting Standards (SFAS) No. 117, Financial Statements of Not-for-Prof-

it Organizations, requires the Foundation to report information regarding its financial position and activities in three classes of net assets: unrestricted, temporarily restricted, and permanently restricted, based upon the existence or absence of donor-imposed restrictions.

The Articles of Incorporation of the Foundation include a variance provision giving the Board of Trustees (the Board) the power to modify any restriction or condition placed on gifts to the Foundation if, in its sole judgment, the Board determined that the restriction becomes, in effect, incapable of fulfillment or inconsistent with the charitable needs of the community. The Founda-tion’s governing documents further provide that, absent contrary directions given in the transfer-ring instrument regarding the use of the principal, all or part of the principal of any fund may be used subject to certain conditions, including approval of the Board and trustee holding each fund. Accordingly, such contributions are reported as unrestricted net assets.

Net assets subject to donor-imposed restrictions that will be met either by actions of the Founda-tion or the passage of time are designated as temporarily restricted. The Foundation’s temporarily restricted net assets are primarily composed of contributions received for scholarships and specific areas of interest.

Permanently restricted net assets are subject to donor-imposed restrictions that will be main-tained in perpetuity. The investment income generated by these assets is available for general support of the Foundation’s programs and operations.

4 Cash Equivalents For financial reporting purposes, the Foundation considers all money market and highly liquid

debt instruments purchased with a maturity of three months or less to be cash equivalents.

5 Investments Investments in debt securities and equity securities with readily determinable market values are

recorded at fair value. The fair value of investments in securities traded on national securities exchanges is valued at the closing price on the last day of the fiscal year; securities traded on the over-the-counter market are valued at the last reported bid price. Real estate investments are recorded at fair value determined by periodic appraisals which are obtained as deemed necessary based upon economic conditions and management discretion. The fair value of other investments in hedge funds for which quoted market prices are not available, are determined by management with the assistance of third-party investment managers in good faith using methods it considers appropriate. Securities are generally held in custodial investment accounts administered by cer-tain financial institutions.

Investment purchases and sales are accounted for on a trade-date basis. Realized gains and losses are calculated on the underlying fair value of individual lots. Interest income is recorded when earned and dividends are recorded on the ex-dividend date.

Investments are made according to the Investment Objectives and Policies adopted by the Founda-tion’s Board. These guidelines provide for investment in equities, fixed income, and other securi-ties with performance measured against appropriate indices. The Board contracts outside parties to provide investment management and consulting.

Notes to Financial StatementsDecember 31, 2007 and 2006

In general, investment securities are exposed to various risks such as interest rate, credit, and over-all market volatility. Due to the level of risk associated with certain long-term investments, it is reasonably possible that changes in the values of these investments will occur in the near term and that such changes could materially affect the amounts reported in the consolidated statements of financial position.

6 Property and Equipment Purchased property and equipment are recorded at cost. Contributed property and equipment

are recorded at fair value at the date of donation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets of three to thirty-nine years.

The Foundation evaluates the recoverability of its long-lived assets in accordance with the provi-sions of Statement of Financial Accounting Standards (SFAS) 144, Accounting for the Impairment or Disposal of Long-Lived Assets. SFAS 144 requires recognition of impairment of long lived assets in the event that the net book value of such assets exceeds the future undiscounted cash flows attributable to such assets. Accordingly, the Foundation evaluates asset recoverability at each bal-ance sheet date or when an event occurs that may impair recoverability of the asset.

7 Functional Expenses The costs of providing the various programs and other activities of the Foundation have been sum-

marized on a functional basis in the Statement of Activities. Accordingly, certain costs have been allocated among the programs and supporting services benefited.

8 Income Taxes The Foundation is a nonprofit corporation exempt from federal income taxes under the provisions

of Internal Revenue Code Section 501(c)(3); therefore, no provision for income tax is provided. The Foundation has been classified as an organization that is not a private foundation and has been designated as a publicly-supported organization.

9 Contributions Contributions are recognized when the donor makes a promise to give to the Foundation that

is, in substance, unconditional. Contributions received are recorded as unrestricted, temporarily restricted, or permanently restricted support, depending on the existence and/or nature of any donor restrictions.

Contributed property and equipment are recorded at fair value at the date of donation. If donors stipulate how long the assets must be used, the contributions are recorded as restricted support. In the absence of such stipulations, contributions of property and equipment are recorded as unrestricted support.

Contributed securities are recorded at fair value at the date of donation.

10 Cash and Money Market Balances The Foundation maintains cash and money market balances in financial institutions which may,

at times, exceed federally insured limits. The Foundation has not experienced any losses in these accounts and does not believe it is exposed to any significant credit risk on cash funds.

11 Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles,

management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

12 Grants Grants are made from available principal and income in accordance with the designations of

donors. Grants are recorded at the date of approval by the Board or when a donor-advised grant award is communicated to the grantee.

NoTE B – INVESTMENTSInvestments consist of the following at December 31: 2007 2006 Mutual fund $ 23,424,625 $ 18,766,042 Equity securities 13,346,734 7,237,898 Corporate bonds 1,768,598 1,628,475 Governmental agencies 2,254,558 277,001 Certificates of deposit - 129,873 Life insurance policy 37,608 37,608 Violin 8,000 8,000 Mineral rights 1 1 $ 40,840,124 $ 28,084,898

52

NoTE B – INVESTMENTS (CoNTINUED)Investment income consists of the following for the years ended December 31:

2007 2006 Interest and dividends $ 1,677,411 $ 1,249,725 Net realized and unrealized gains 928,110 1,595,065 $ 2,605,521 $ 2,844,790

NoTE C – PRoPERTY aND EQUIPMENTProperty and equipment consist of the following at December 31:

2007 2006 Software $ 30,619 $ 16,119 Office equipment 36,535 36,141 Rental property (see Note I) 2,706,796 2,654,000 Less: accumulated depreciation (545,319) (470,622) $ 2,228,631 $ 2,235,638

NoTE D – TRaNSaCTIoNS IN FUNDS HElD FoR aGENCIESFinancial activities related to agency funds are recorded as adjustments to the funds held for agencies’ liabilities and, therefore, is not included in the consolidated statements of activities. The agency fund transactions are summarized below.

2007 2006 Additions Contributions $ 2,755,438 $ 654,366 Investment returns 285,482 306,952 Transfers in/(out), net - (6) Total Additions 3,040,920 961,312 Deductions Grant distributions 790,621 378,985 Investment expenses 71,545 38,525 Change in balance 2,178,754 543,802 Funds held for agencies, beginning of year 3,019,093 2,475,291 Funds held for agencies, end of year $ 5,197,847 $ 3,019,093

NoTE E – RESTRICTED NET aSSETSTemporarily restricted net assets are to be held available for the following purposes as of December 31: 2007 2006 Charitable and educational purposes $ 281,594 $ 284,189 Named – Organization Fund 3,396,289 5,131,072 Special purpose 57,932 52,946 Scholarship 2,596,414 2,420,356 Income on endowment funds 97,647 52,550 Areas of interest 1,764,950 1,481,238 $ 8,194,826 $ 9,422,351

Permanently restricted net assets are to be held for the following purposes as of December 31: 2007 2006 Foundation operations – future years $ 10,000 $ 10,000 Advised funds 235,776 214,206 Named – Organization Fund 743,482 500,444 Areas of interest 1,106,376 365,025 $ 2,095,634 $ 1,089,675

NoTE F – RElaTED PaRTIESContributions received from members of the Board for the years ended December 31, 2007 and 2006, were approximately 43% and 12%, respectively.

NoTE G – PlEDGES RECEIVaBlEPledges receivable represent promises to give by various organizations and individuals. Following are amounts scheduled for collection:

2007 2006 Due in one year $ 1,093,970 $ 5,475 Due in two to five years - 5,850 $ 1,093,970 $ 11,325

No allowance for uncollectible receivables is deemed necessary on the above pledges at December 31, 2007 and 2006.

NoTE H – PlEDGES PaYaBlEPledges payable represent promises to give. For 2006, grants payable of $26,620 and pledges payable of $2,937,503 have been combined and shown as pledges payable. Following are amounts scheduled to be paid: 2007 2006 Due in one year $ 1,797,927 $ 891,078 Due in two to five years 2,735,544 2,073,045 $ 4,533,471 $ 2,964,123

NoTE I – RENTal PRoPERTYDuring 2000, the Foundation received a contribution of a limited liability company, CFX LLC. This con-tributed limited liability company has partial ownership of three separate leaseholds. The leaseholds consist of debt- financed buildings located on land leased from a third party. The buildings are then subleased to grocery stores. During 2006, the Foundation reported an additional $84,085 in contribu-tions to CFX LLC.

The respective ownership interest in each of the properties has been consolidated into the books of the Foundation and has been included in property and equipment in the Consolidated Statement of Financial Position (see Note B).

In 2006, the long-term debt related to the Foundation’s ownership interest in the property was paid in full. The note was dated January 31, 1994, payable in monthly installments of $21,717, included inter-est at 7.625%, and matured on December 31, 2006 with a balloon payment of $263,364.

The rental buildings are located on land under ground leases expiring on December 1, 2021. The leases provide for renewal of five consecutively extended terms of five years each. The minimum rental com-mitments under the ground leases are:

Years ending December 31,

2008 $ 29,406 2009 29,406 2010 29,406 2011 29,406 2012 29,406 Thereafter 264,654 $ 411,684

For the year ended December 31, 2007, rent expense paid under ground leases was $0, as the lessees paid all ground rent. Rent expense paid under ground leases was $22,975 for the year ended December 31, 2006.

The rental income on the properties is received under three subleases in two separate entities. The leases expire at various dates between 2008 and 2011, in conjunction with the maturity of the note payable. On January 19, 2006, a lessee exercised one of the five-year options at $8,144 per month beginning January 1, 2007. Future minimum sublease income is:

Years ending December 31,

2008 $ 167,327 2009 167,327 2010 167,327 2011 167,327 $ 669,308

Rental income under subleases for each of the years ended December 2007 and 2006 was $152,494 and $271,908, respectively.

NoTE J – SPlIT-INTEREST aGREEMENTSThe Foundation’s split-interest agreements with donors consist primarily of charitable gift annuities and irrevocable charitable remainder unitrusts for which the Foundation serves as trustee. Assets are invested and payments are made to donors and/or other beneficiaries in accordance with the respec-tive agreements.

Contribution revenue for charitable gift annuities and charitable remainder trusts is recognized at the date the agreement is established, net of the liability recorded for the present value of the estimated future payments to be made to the respective donors and/or other beneficiaries.

The present value of payments to beneficiaries of charitable gift annuities and charitable remainder unitrusts are calculated using discounted rates which represent the risk-free rates in existence at the date of the gift. Gains or losses resulting from changes in actuarial assumptions and accretions of the discount rate are recorded as increases or decreases in the respective net assets class in the Statement of Activities.

53

10CELEBRATING

legal CounSel Avansino, Melarkey, Knobel & Mulligan


auditor Pangborn & Co., LTD

BanKing, BroKerage and inVeStment

Edward Jones, Inc.4795 Caughlin Parkway, Suite 210, Reno, NV 89509

Contact: John E. Boyd 775-329-4646

Edward Jones, Inc. 5275 Vista Boulevard, Suite A1, Sparks, NV 89436

Contact: Carol Ann Carroll 775-331-3335

Merrill Lynch6900 South McCarran Boulevard, Suite 1080, Reno, NV 89509

Contact: Andrea Knapp 775-688-5724

Morgan Stanley DTC #0156140 Plumas Street, Reno, NV 89509-6060

Contact: Tom or Mike Seeliger 775-823-8632

Presidio Capital Advisors, LLC101 California Street, Suite 1200, San Francisco, CA 94111

Contact: Bruce Brugler 415-449-1000

Charles Schwab, DTC#0164 code 401669 Lucerne Street, Building F, Suite A-Z, Minden, NV 89423

Contact: Faye Groves 775-782-6143

Wells Fargo & Company, Private Client Services5354 Kietzke Lane, Reno, NV 89511Contact: Irene Garcia 775-888-4474

The Whittier Trust Company of Nevada100 West Liberty Street, Suite 890, Reno, NV 89501-1952

Contact: William E. Ramsey 775-686-5400

SoftWare and appliCation hoSting SerViCeNPO Solutions, Inc.

Staff

Christopher Askin, CSPG, CFRE, Executive DirectorKaren Sheppard, Office Administrator

Margaret Stewart, Communications DirectorTracy Peterson Turner, Program Officer

Ralph Vroman, Controller

CreditS

Design and typesetting: Julie Melton, The Right Type GraphicsWriter/editor, photography: Margaret Stewart

Page 37 photo: Theresa Dana-Douglas

Copies of the Annual Report, Audited Financial Statements, Article of Incorporation, By-laws, IRS form 990 or IRS form1023

are available by request.

For more information contact the Community Foundation of Western Nevada

1885 South Arlington Avenue, Suite 103, Reno, NV 89509775-333-5499 fax 775-333-5487 email [email protected]

EIN # 88-0370179

www.cfwnv.org

54

foundaTion opTions Comparison

FaCToRS PRIVaTE FoUNDaTIoN CoMMUNITY FoUNDaTIoN

Initial contribution $5 million to be effective $10,000

Start-up costs Accounting and Legal Fees None

Investment, accounting, On-going legal and accounting fees 1.5% or less for funds overaudit and tax returns Trustees must perform or hire staff. $1 million. The CF handles all investments and accounting, files annual tax return, and provides annual independent audit. General Administration Trustees must perform, contract, CF handles all financial and or hire staff for these services. administrative management. Max tax deduction for gifts of cash (% of AGI) 30% 50%

Max tax deduction for giftsof appreciated securities 20% 30%

Must pay excise tax on investment Yes (1-2%) No

Minimum pay out required Yes (5%) No

Flexibility of choice Yes Yes

Likelihood of perpetuity High High

Requires donor time and expense Yes No

Grant-making consultation No. Trustees must perform, Yes. If donor wishes, the

contract or hire staff CF can identify potential for these services. recipients, investigate applicants, make grant payments, and monitor performance.

55

foundaTion opTions Comparison

FaCToRS PRIVaTE FoUNDaTIoN CoMMUNITY FoUNDaTIoN

Access to community-wide No Yes (no charge)agency knowledge base

Research and evaluation of charitable organizations Must hire staff Yes (no charge)

Agency liaison services No Yes (no charge)

Planned giving services No Yes (no charge)

Restriction on holding interestsin business enterprises Yes No

Application of expenditure Yes (under IRC Section 4945 Noresponsibility procedures for taxable expenditure retax forgrants to organizations and failure to make “expenditureprograms that are not public responsibility” investigations)charities Separate annual IRS tax Yes Noreturn required

Privacy No (IRS Form 990-PF required Yes Individual donor’s which is open to public inspection.) fund assets size, gifts and grant Private foundations are required to making are kept private file detailed tax returns on grants, and confidential. No public investment fees, staff salaries, disclosure of individual grants asset size, and publish a notice or donations is required. If to the public that the tax return is donor wishes, the CF can serve available for viewing. These public as a buffer between the records are often compiled into donor and the grant seeker. grant-seeker directories. Donors are usually recognized for grants disbursed unless they wish to remain anonymous.

Liability and insurance Insurance must be separately Advisors to the fund are purchased. covered by the CF’s liability and office insurance policies. Fundraising events and other activities will require insurance.

56

THe CommuniTy foundaTion of wesTern neVada is Here To Help you realize your CHariTable dream.The stories in this report tell how the Community Foundation of Western Nevada helps people make lasting, powerful, and efficient gifts — gifts that enhance life, the life of your family and the life of the recipient, which in turn touches each of us joined through our eastern Sierra communities.

We can help by

n Working individually with donors and their estate or financial advisors to develop an approach to giving that meets their particular needs.

n Helping people understand their choices for giving now or making giving part of their estate plans.

n Accepting a wide range of assets including appreci-ated securities, real estate and business interests.

n Providing expert advice on community issues and the groups addressing them in western Nevada as well as in communities around the world.

n Connecting donors with others who have similar interests.

n Streamlining, or eliminating, the administrative aspects of giving.

n Providing the most favorable tax advantages avail-able for charitable giving.

n Investing funds to achieve superior returns while moderating risk, with the goal of enabling our donors to achieve both their philanthropic and financial objectives.

n Helping donors involve their families and share important values with future generations.

If you would like to learn more about partnering with us please,

Talk with Chris Askin, CSPG, CFRE, Executive Director,

at 775-333-5499 or via email: [email protected].

Stop by our office 1885 South Arlington Avenue, Suite 103,

Reno NV 89509

Visit our website at www.cfwnv.org

Problems can become opportunities when the right people come together.

– Robert South

Com

mun

ity F

ound

atio

nof

West

ern

Nev

ada

1885

Sou

th A

rling

ton

Aven

ue, S

uite

103

Reno

, Nev

ada

8950

9

ww

w.cf

wnv

.org

775-

333-

5499

Con

nect

ing

Peop

le W

ho C

are

w

ith

Cau

ses t

hat M

atte

r

Annu

al R

epor

t For

Yea

r End

ing

D

ecem

ber 3

1, 2

007

No

n P

rofi

t O

rg

U.S

. Po

stag

e

PaID

Perm

it #

625

Ren

o, N

evad

a

Date post:	21-Mar-2016
Category:	Documents
Upload:	julie-melton
View:	231 times
Download:	8 times

2007 Community Foundation Annual Report

Documents