Baltimore City Foundation The good we do... ANNUAL REPORT 2009 The good we do. The Baltimore City Foundation, Inc. is a 501(c)(3) organization committed to enhancing the quality of life for Baltimore residents. Annually the Foundation raises, manages and distributes funds to support numerous initiatives that promote the development of our youth and enhance the health, safety and productivity of our communities. A vital and vibrant Baltimore is our shared vision. Empowering people and improving neighborhoods is our shared responsibility. Enhancing the Quality of Life The good we do is an apt description for the accomplishments of the Baltimore City Foundation. For nearly 30 years we have been committed to enhancing the quality of life for Baltimore residents, and this 2009 annual report demonstrates the significant impact on the communities we support. Thank you for reading about some of the specific ways the Foundation’s efforts continue to make a difference to our city and our citizens. Lenwood Ivey, Ph.D. Each year, the Foundation raises, manages and distributes funds to support many new and proven initiatives that promote the development of our young people, provide vital assistance to the less fortunate, and strengthen our neighborhoods. From teaching students to protect the environment through experiential learning Each year, the at the Irvine Nature Center to improving the Marian House facilities that provide Foundation raises, a safe environment for previously homeless women, the Foundation’s support is manages and distributes broad and beneficial for communities across the city. Baltimore’s annual summer jobs program, YouthWorks, matched several thousand teens with employers from funds to support a variety of industries in meaningful job experiences in 2009 and will need the many new and proven Foundation’s support to continue its success in 2010. initiatives that promote the development of Thank you for making your 2009 financial contribution our young people, to the Baltimore City Foundation. In these times when each dollar counts more than ever, please know that provide vital assistance the Foundation provides financial support to the most to the less fortunate, deserving organizations that operate proven programs and strengthen our and provide essential services. neighborhoods. Please continue to show your support in 2010 by making your tax-deductible donation. The Baltimore City Foundation is dedicated to continue the good we do for our city. Sincerely, Lenwood Ivey, Ph.D. President, The Baltimore City Foundation, Inc. The Baltimore City Foundation’s 2009 Charitable Contributions: Baltimore Westsiders Marching Band Support for equipment, supplies, and assistance to children $ 1,500 Boys Hope Girls Hope Contribution to education support $ 7,000 Several of the programs that benefited from Caroline Center Contribution support for trainings and scholarships $ 10,000 the Baltimore City Foundation’s generous Children’s Scholarship Fund Baltimore contributions are Award scholarship to 50 new students from waiting lists $ 3,000 featured on the Community Relations Commission following pages. Support for “A Call to Action” initiative $ 5,000 Support for International Festival $ 5,000 Cristo Rey Jesuit High School Support for students in visual, language, and performing arts $ 10,000 Contribution to support high school needs $ 10,000 Grace Outreach Development Corporation Support Summer Camp Enrichment Program $ 4,000 Irvine Nature Center, Inc. Support for Schoolyard Discovery program $ 10,000 Marian House Support in house projects, flooring $ 9,000 Contribution support for renovations $ 10,000 Maryland Historical Society Support for bus service, transportation from schools to on site resources $ 7,500 Contribution to outreach programs and transportation $ 10,000 Maryland Mentoring Partnership Mentoring services for youth $ 15,000 Mother Seton Academy Support Peace Garden $ 15,000 Parks and People Foundation, Inc. Support for spring lacrosse season $ 5,000 Stocks in the Future at Johns Hopkins University Support for Stocks in the Future educational initiative $ 3,000 The Community School Contribution for food/supplies $ 2,000 Tuerk House General support $ 10,000 Diversified 2 BALTIMORE CITY FOUNDATION Creating Opportunities Mother Seton Academy Mother Seton Academy (MSA) is an all-scholarship, co-ed, independent Catholic middle school for at-risk children who By working in Cristo Rey Jesuit High School Children’s Scholarship Fund Baltimore have the potential to advance In 2009, the Baltimore City pottery, students to college preparatory high Foundation provided $20,000 to Children’s Scholarship Fund schools. MSA serves some of also learn about Cristo Rey Jesuit High School Baltimore, Inc. (CSF Baltimore) Baltimore’s most economically for the purchase of student remains Baltimore’s only needs an ancient art form disadvantaged young men and tools for artistic expression. based, non-denominational women who live in impoverished while developing Among items acquired in program that gives low income neighborhoods throughout the support of the arts, Cristo Rey families tuition assistance for city. In June 2009, Mother Seton their design skills. Jesuit purchased a kiln and their children to attend the Academy left its 15-year location Cristo Rey Jesuit digital cameras. The kiln allows elementary school of their at South Ann Street to renovate students to create pottery in choice. Since its inception, and move to a formerly vacant High School art class and in the after-school CSF Baltimore has awarded over building at 2215 Greenmount ceramics club. These activities $7.5 million in scholarships to provides a holistic, Avenue in August. As part of the give students who enjoy working approximately 1,400 Baltimore renovation, an open space was college preparatory in three-dimensional media the City children, representing each identified to be a Peace Garden ability to create art that makes of the city’s neighborhoods. education to to offer a gated, grassy area for use of their gifts and talents. The Baltimore City Foundation the students to enjoy. Thanks to students from By working in pottery, students supported this effort with a a Baltimore City Foundation gift also learn about an ancient art $3,000 donation. of $15,000, the Peace Garden disadvantaged form while developing their Marian House was completed by sodding the Baltimore City design skills. The digital cameras The primary goal of Marian area and enclosing it with a are used in photography class neighborhoods. House is to provide a safe, wrought iron gate. This beautiful for lessons on narrative imagery, nurturing and productive home space welcomes all entering history, and composition. This environment for previously Mother Seton Academy and spring, students will use the homeless and/or incarcerated offers a place of beauty to the cameras to create documentary women. By providing $19,000, community. photographs chronicling their the Baltimore City Foundation communities. This gift has helped to fund capital improve- enhanced Cristo Rey Jesuit’s ments to Marian House’s head- effort to provide a holistic, quarters facility that houses college preparatory education 28 residents. The Foundation’s to students from disadvantaged response was swift and the Baltimore City neighborhoods. renovation project was a complete success. Community Programs DIVERSIFIED COMMUNITY PROGRAMS 3 Baltimore City Middle School Lacrosse League With a donation of $5,000, the Baltimore City Foundation helped to support the Parks & People Foundation’s Baltimore City Middle School Lacrosse League, which provided 150 inner city students the opportunity to learn and play The Community School lacrosse during the 2009 season. Based in Remington, The league consisted of teams The Community School is comprised of 25 students from an academic and mentoring six middle schools. The players – program for young people most of whom had never been who want to advance their exposed to lacrosse – practiced education, improve their lives for two hours, three days a week and better their community. and had to maintain a 75% GPA Recognizing the positive impact and 90% school attendance rate. nutrition and exercise have on learning, the program recently launched its health initiative. Building Character Assisted by a Baltimore City Foundation donation of $2,000, students gain first-hand knowledge and skills related The Maryland Mentoring to healthy lifestyles, including Partnership instruction in nutrition, menu The Maryland Mentoring planning and smart shopping. Partnership (MMP) has worked Students are also preparing and The Parks & People tirelessly for more than 20 years eating nutritional meals and to make mentoring an integral snacks and attending physical Foundation’s part of the social fabric of education classes twice weekly Baltimore and to make Maryland Baltimore City at the Greenmount School. the State that Mentors. Young Middle School people’s lives are enriched academically and socially when Lacrosse League they have caring adults to assist provided 150 inner them as they transition into education and faith sectors were adulthood. In 2009 – thanks in involved, including those in city students the part to a $15,000 donation from law, healthcare, financial and opportunity to the Baltimore City Foundation – manufacturing institutions. MMP was able to provide expert These programs demonstrate learn and play technical assistance, specialized that mentoring contributes to training for mentors and pro- the healthy development of lacrosse. gram coordinators, consultation our entire community, especially and resource materials to our young people, and will approximately 3,100 individuals. ultimately bring about a Hundreds of mentoring better Baltimore and region. programs in the corporate, For more information, visit community, government, higher www.marylandmentors.org. 4 BALTIMORE CITY FOUNDATION Engaging Minds Stocks in the Future Irvine Nature Center’s At multiple schools in Baltimore Schoolyard Discovery City, students discuss corporate Located in Owings Mills, Irvine profit and loss, percentage Nature Center is a non-profit, of growth, and the impact on environmental education businesses during current organization whose mission is to economic conditions. These inspire appreciation and respect sophisticated exchanges among for the natural world, increase 11, 12 and 13 year olds take awareness of environmental and created four habitat gardens place in weekly classes called issues and encourage individuals that protect and enhance Stocks in the Future (SIF). to sustain Earth’s ecosystem. the environment. More than Recognizing that Targeting youngsters needing Recognizing that children in 200 students from seven high urban schools have minimal schools earned 2,380 service children in urban extra encouragement, SIF teaches them the fundamentals hands-on outdoor experiences, learning hours applied to their schools have of financial life skills and the center developed an graduation requirements by environmental literacy program, teaching elementary school minimal hands-on reinforces academics. While learning strategies for earning, now known as Schoolyard students environmental outdoor experiences, saving and investing money, Discovery. Intended for under- education lessons during the students earn SIF dollars ($80) served Baltimore City public school year. Ten high school Irvine Nature Center by attending school regularly school students, the program students participated in the developed an and improving grades. provides curriculum-based six-week Urban Education Earnings enable them to environmental education to Summer Fellowship Program, environmental purchase publicly traded high school pupils who, in turn, teaching 323 elementary school literacy program, stocks they’ve studied and become teachers/mentors to children at 18 Baltimore City track their progress online at younger students in partner recreation centers. They learned now known www.stocksinthefuture.org. elementary schools. Thanks to leader-ship and team building as Schoolyard Once SIF students graduate a $10,000 donation from the skills, designed and conducted and turn 18, the stocks transfer Baltimore City Foundation, environmental science Discovery. to their names. Schoolyard Discovery engaged experiments, maintained 1,458 students from eight Balti- schoolyard habitats and taught Stocks in the Future provides more City elementary schools environmental literacy. young people with introductory financial fundamentals, empower- ment to control their earnings, ability to make decisions based on stock market savvy, and encouragement to invest in school. Contributions, like the $3,000 one made by the Baltimore City Foundation, enable SIF to make significant differences in youngsters’ education. DIVERSIFIED COMMUNITY PROGRAMS 5 Summer Jobs: Transforming Lives The Baltimore City Additionally, thanks to Baltimore’s Congressional Foundation delegation securing a federal partners with demonstration grant, Youth- Works 2009 included the the city to creation of the Green Jobs promote many Youth Corps – a partnership YouthWorks Summer Jobs Program with the Department of educational and Each year, YouthWorks makes a organizations improve their youth develop- significant difference in the lives productivity. They helped keep of thousands of young people as city parks and open spaces ment activities. they experience the world of clean, worked in community work during six-week summer libraries, summer camps and The Foundation jobs. Baltimore City youth and senior citizen centers, and is pleased to young adults are connected explored careers in law offices, to public and private sector hospitals, hotels, restaurants, highlight two employers who provide the retail stores, and government such projects, supervision and job assignments facilities. that give these youth the oppor- YouthWorks and tunity to earn wages and learn Several sources provided fund- the valuable skills necessary ing for YouthWorks – at a the Academy for to be successfully employed. cost of $1,400 per participant – Recreation and Parks – that College and Career While the program benefits including individual donors, provided summer jobs to more youth by allowing them to business and philanthropic than 350 young people in Exploration. contributors, and local, state “green” work areas such as explore careers and better understand the value of educa- and federal government. horticulture, wildlife manage- tion, it also enriches businesses For the first time in a decade, ment and urban forestry. As a by giving them access to a stand-alone federal funding result, eight city park sites talented and energetic labor was allocated to support were improved in ways that pool of motivated workers. summer youth employment. included landscaping and trail More than 2,000 YouthWorks maintenance, planting and In 2009 more than 7,000 Balti- participants worked in jobs beautification, creating and more City residents, 14-24 years specifically funded by the maintaining a community of age, were offered meaningful, American Recovery and garden, and the construction six-week summer job opportuni- Reinvestment Act (ARRA). of a deer fence. ties. Young people were employed by a wide variety of employers in public and private sectors, learning vital workplace skills while helping the sponsoring Educational 6 BALTIMORE CITY FOUNDATION YouthWorks participants are taught what it takes to be successful at a job while being exposed to a variety of While the program careers that help shape their future employment goals. More than 80% of benefits youth by the YouthWorkers who completed allowing them to an exit survey indicated that their summer experience gave them explore careers and a better understanding of how to better understand access education and career options. the value of education, Developing Full Potential it also enriches businesses by giving Many participants made such positive young citizens to the world of work them access to a impressions that their employers not only builds their character and talented and energetic hired them directly to continue to develops their work skills, it is also work throughout the rest of the essential to building our city’s future labor pool of summer and on weekends and workforce and creating a brighter evenings during the school year. economic future for all of us. motivated workers. One employer – the National Aquarium in Baltimore – hired seven Coordinated by the Mayor’s Office of their 19 summer YouthWorkers of Employment Development to stay on after the program ended. and the Baltimore Workforce Investment Board’s Youth Council, Baltimore City is proud of its Youth- YouthWorks 2010 features the Works summer jobs program and is theme, Summer jobs launch thankful for the funding provided by careers, and highlights job match- all of its supporters. Exposing our ing to older teens’ career interests with an emphasis on effective work behaviors and financial literacy for all participants. Support is needed to provide YouthWorks summer job opportunities to as If you have already made your donation to YouthWorks many Baltimore City youth as 2010 – thank you! If not, please use the envelope possible in 2010 and can be given conveniently located in this report to support this in several ways, including making important program. To learn more about YouthWorks, tax-deductible contributions to visit www.oedworks.com the Baltimore City Foundation, The Baltimore City Foundation is a 501(c)(3) nonprofit organization – directly hiring YouthWorks teens donations to which are tax deductible to the fullest extent allowed by law. A copy of our current financial statement is available upon written request and paying their wages, and at 10 North Calvert Street, Suite 915, Baltimore, MD 21202. Documents applying to become a YouthWorks submitted to the State of Maryland under the Maryland Charitable Solici- tations Act are available from the Office of the Secretary of State for the worksite and supervise youth. cost of copying and postage. and Youth Programs EDUCATIONAL AND YOUTH PROGRAMS 7 The good we do. 8 BALTIMORE CITY FOUNDATION ACCE, an innovation high school... academic focus, ACCE offers students college preparation aims to help youth Finding a Passion and career readiness courses augmented by a series of activities geared toward success develop a love of learning, Academy for College and after graduation, including a constructive Career Exploration 21st Century Careers, job The Academy for College and shadowing, interview clinics, direction for their Career Exploration (ACCE) college visits, career exploration lives and a belief high school graduated its second classes, SAT preparation, senior class in June 2009 that internships, transition planning, in their own abilities featured a college acceptance optional Advanced Placement classes, financial aid prepara- to succeed by rate of 88%. ACCE, an innova- tion high school operated by the tion, and connections to promoting academic Mayor’s Office of Employment MOED’s One-Stop Career Development (MOED) in part- Centers. In 2010 ACCE will success through nership with Johns Hopkins expand to become a Trans- the lens of 21st University’s Institute for Policy formation School, adding a Studies and Baltimore City middle school division called Century Careers. Public Schools, aims to help ACCE Prep and starting with youth develop a love of learn- a small class of sixth grade ing, a constructive direction students. ACCE is located for their lives and a belief in at 1300 W. 36th Street in their own abilities to succeed the Hampden community. by promoting academic success For additional information, through the lens of 21st visit www.accebaltimore.com Century Careers. With Baltimore City Foundation support, students complete their year-round experience by participating in Baltimore City’s YouthWorks summer jobs program and working for six weeks in jobs that help to prepare them to be successful members of the future work- force. In addition to a rigorous EDUCATIONAL AND YOUTH PROGRAMS 9 Contributing to our Community $50,000 AND OVER $2,500 - $9,999 Municipal Employees Credit Union $1 - $99 Businesses/Organizations: Businesses/Organizations: (MECU) Individuals: Baltimore City Mayor and Abrams, Foster, Nole & Otis Warren & Company, Inc. Beila Agatstein City Council Williams, P.A. St. Bartholomew’s Linda L. Atkins Comcast Cable American Trading & Production Episcopal Church Robert H. Batchelor Maryland State Department of Corporation Sue Ann's Office Supply, Inc. Joseph J. Bordenski, Jr. Human Resources/Baltimore City Baltimore City Parking Authority, Inc. The RCM&D Foundation, Inc. Sharon A. Brooks Department of Social Services Baltimore Community Foundation Venable Foundation, Inc. Doris W. Coleman Brown The Johns Hopkins Hospital, c/o Partnership for William L. & Victorine Q. Adams Raymond Brown Health System and University Baltimore’s Waterfront Foundation Evelyn M. Bruff United States Department of Labor Baltimore Convention Center Wylie Funeral Home, P.A. Henry C. Burris CareFirst BlueCross BlueShield Individuals: Bernard Casserly $25,000 - $49,999 City of Baltimore Development Anita Chavis Davi Adamski Businesses/Organizations: Corporation Waverly Clark Menas Brodie Baltimore City Public Schools Combined Charity Campaign Paul Clary Malcolm Coleman Division of Rehabilitation Services Constellation Energy Mary Pat Fannon Gloria J. Cook (DORS) Ernst & Young, LLP Keith E. Haynes Kenneth C. Corell East Baltimore Development, Inc. Hilton Baltimore Convention Hotel Joanne Nathans Bernard Edwards (EBDI) M. Luis Construction Company, Inc. Nich Rudolph Great G. Evans Maryland Department of Labor, Maryland State Department of Lilly W. Swift Jennifer M. Francis Licensing & Regulation (DLLR) Disabilities William B. Garrett Motorola Foundation McCormick & Company, Inc. $100 - $499 Barbara L. Greer The Harry & Jeanette Weinberg Mercy Health Services, Inc. Businesses/Organizations: Eleanor M. Haley Foundation, Inc. Rummel, Klepper & Kahl, LLC Chimes Foundation, Inc. Hortense H. Henry Verizon Maryland, Inc. (RK&K) Davidson Transfer & Storage Alicia P. Humphries The Abell Foundation, Inc. Company Carolyn J. Iwancio $10,000 - $24,999 The Associated: Jewish Community Evelyn M. James Dr. Frank C. Marino Foundation, Inc. Businesses/Organizations: Federation of Baltimore Deborah Johnson Friends of Verna Jones American Sugar Refining, Inc. University of Maryland Gilbert Advising & Appraising, LLC Cheryl A. Jordan Baltimore City Housing Authority Medical System Harlem Park Neighborhood Shirley A. Kane Colgate-Palmolive Company Veolia Energy Council, Inc. Kathleen Klemmer Kaiser Permanente Foundation c/o Trigen Energy Corporation Kent Fisher, Inc. Margaree Lee Lord Baltimore Capital Corporation Washington Gas Light Company Martin Equipment, Inc. Nathan Lee The Whiting-Turner Contracting Rudolph’s Office & Computer Donnell L. Lorenz Company $500 - $2,499 Barbara A. Magness Supply Businesses/Organizations: Neil McPhaul, III Shapiro Sher Guinot & Sandler, P.A. 1199 SEIU United Healthcare United Way of Central Maryland Barbara A. Meyers Workers East Woman Power, Inc. Arschel & Catherine Morell Baltimore Building & Construction Women Behind The Alease Moses Trades Council, AFL-CIO Community, Inc. Edith Nelson Baltimore Office of Promotion & William F. Neugent The Arts Individuals: Jesse P. Peaker Baltimore Rising, Inc. Rosie B. Adams Scott L. Peterson Correct Rx Pharmacy Services, Inc. James S. Clack Beatrice T. Riley COUNT Program L. Patrick Deering Hazel Sawyer Enterprise Community Frank De Santis, Jr. Ernest F. Silversmith Investment, Inc. Mary Eastman Harold Simmonds Enterprise Electric Company Patrick Fernandez David M. Simmons Forest City - New East Baltimore Michael Francis Dianne Simmons-Raoof Partnership, LLC Phyllis C. Gray-Wonson George J. Smith Fraternal Order of Police Lawrence LaPrade Gregory Stokes Baltimore City Lodge #3 Ruth M. Louie Valerie Tates GFoss Consulting, LLC H. Berton McCauley Regina L. Traynham Key Risk Management Services, LLC Elizabeth K. Moser Wilbert Trusty, Jr. Law Offices of Lisa M. Harris, LLC Kimberly S. Schenck Annie Watkins Williams Mahogany, Inc. Bruce M. Williams Charles Wills Manekin, LLC Tracy L. C. Williams Jane Woodall Mayor’s Office of International and Cheryle L. Wilson Viola L. Wright Immigrant Affairs Milby Company YouthWorks 10 BALTIMORE CITY FOUNDATION Payroll Deductions of Baltimore City Employees AGENCY DONORS/CONTRIBUTION Board of Liquor License Commissioners 5 $ 286.00 Board of Municipal and Zoning Appeals 1 130.00 Circuit Court for Baltimore City 6 442.00 City Council 8 468.00 Commission on Aging and Retirement Education 3 156.00 Community Relations Commission 2 39.00 Comptroller’s Office 8 637.00 100+ JOBS Councilwoman Helen Holton Office Convention Center 4 312.00 Baltimore City Department DRD Pools Eagle Coffee, Inc. Council Services 2 182.00 of Public Works Baltimore City Department Harbor Bank of Maryland Department of Finance 31 1,907.10 of Recreation & Parks Johns Hopkins Space Department of Health 37 2,574.00 Baltimore City Department Telescope Science Institute Department of Housing and of Transportation Kennedy Krieger Institute Community Development 43 2,401.10 Martin’s Caterers, Inc. Lexington Market Department of Human Resources 11 2,600.00 Maryland Public Service Department of Law 8 1,196.00 Commission Maryland Stadium Authority Department of Legislative Reference 2 52.00 Maryland State Department of Department of Planning 5 728.00 the Environment Department of Public Works 308 19,524.80 McDonald’s Department of Recreation and Parks 29 1,690.00 (C.G. Brown Enterprises) Department of Transportation 73 5,157.48 McDonald’s (QSR, Inc.) Employees of the Baltimore City Ready Able Movers Board of School Commissioners 312 47,344.50 Stop Shop Save University of Maryland, Baltimore Employees’ Retirement Systems 27 1,378.43 Enoch Pratt Free Library 17 1,092.00 1 JOB Fire Department 64 3,614.00 Baltimore City Community Relations Housing Authority of Baltimore City 26 567.14 10 - 99 JOBS Commission Baltimore City Health Department Mayor’s Office 20 5,980.00 Baltimore City Department Baltimore City Police Department of Finance/Risk Management Mayor’s Office of Employment Development 31 2,067.00 Baltimore City Environmental M-R Information Technology 8 572.00 2 - 9 JOBS Control Board Office of the Labor Commissioner 1 130.00 American Pools Baltimore City Wage Commission Orphans Court 2 104.00 Aramark Convention Center Constellation Energy Aramark Staffing Center Police Department 224 12,070.60 Councilman William Cole, IV Office Aspen Health Care Councilwoman Sharon Middleton Sheriff’s Office 2 624.00 Baltimore Area Convention & Office State’s Attorney’s Office 7 288.60 Visitors Association (BACVA) Councilwoman Agnes Welch Wage Commission 2 39.00 Baltimore City Board of Office Municipal Zoning and Appeals Downtown Locker Room TOTAL 1,329 $116,353.75 Baltimore City Bureau of (Lev Tran Enterprises) Accounting and Payroll Services Harris Jones Malone, LLC Regrettably, space limitations preclude the individual listing of the hundreds of city Baltimore City Bureau of Purchases Mayor's Office of Women & Minority employees who contributed to YouthWorks 2OO9 via the Payroll Deduction Plan. Baltimore City Bureau of Although we cannot list your names, we thank each of you for your generous contribution. Business Development Revenue Collections Metro One Baltimore City Commission on Social Security Office of Aging and Retirement Education Central Operations Baltimore City Council President’s Whitman, Requardt & Office Associates, LLP Baltimore City Department of Planning GOODS/SERVICES Baltimore City Fire Department Giant Food Baltimore City Mayor's Office of Humanim Information Technology Reginald F. Lewis Museum of Baltimore City Parking Authority, Inc. Maryland African American Councilwoman Mary Pat Clarke Office History and Culture 2009 Donations YOUTHWORKS 2009 CONTRIBUTIONS 11 To the Board of Directors Statement of Financial Position Baltimore City Foundation, Inc. June 30, 2009 (with comparative totals as of June 30, 2008) 2009 2008 Assets We have audited the accompanying Cash and Cash Equivalents (note 3) $ 1,768,879 $ 1,046,694 Accounts Receivable – 393,252 statement of financial position of Accrued Interest Receivable 59,787 64,785 Baltimore City Foundation, Inc., Investments (note 4) 6,259,149 6,263,729 as of June 30, 2009, and the related TOTAL ASSETS $ 8,087,815 $ 7,768,459 statements of activities and cash flows Liabilities for the year then ended. These financial Accounts Payable $ 730,445 $ 161,962 Agency Funds Payable 238,620 203,128 statements are the responsibility of TOTAL LIABILITIES $ 969,065 $ 365,090 Baltimore City Foundation, Inc.’s management. Our responsibility is to Net Assets Unrestricted $ 1,589,981 $ 1,835,708 express an opinion on these financial Temporarily Restricted 5,528,769 5,567,661 statements based on our audit. TOTAL NET ASSETS $ 7,118,750 $ 7,403,369 The prior year summarized comparative TOTAL LIABILITIES AND NET ASSETS $ 8,087,815 $ 7,768,459 information has been derived from the Organization’s 2008 financial statements and, in our report dated December 4, 2008, we expressed Statement of Activities For the year ended June 30, 2009 (with comparative totals as of June 30, 2008) an unqualified opinion on those Temporarily 2009 2008 financial statements. Unrestricted Restricted Totals Totals Support We conducted our audit in accordance Contributions $ 2,656,843 $ 2,656,843 $ 3,441,781 with auditing standards generally Investment Income (note 4) $ 22,290 — 22,290 456,274 22,290 $ 2,656,843 2,679,133 3,898,055 accepted in the United States of America. Those standards require that we plan Net Assets Released from Restrictions (note 5) 2,695,735 ( 2,695,735) — — and perform the audit to obtain reason- TOTAL SUPPORT AND RECLASSIFICATION 2,718,025 (38,892) 2,679,133 3,898,055 able assurance about whether the Expenditures Program Services 2,696,213 — 2,696,213 6,637,947 financial statements are free of material General and Administrative 267,539 — 267,539 261,066 misstatement. An audit includes Total Expenditures 2,963,752 — 2,963,752 6,899,013 examining, on a test basis, evidence Increase (decrease) in Net Assets (245,727) 171,152 (38,892) (284,619) (3,000,958) supporting the amounts and disclosures NET ASSETS BEGINNING OF YEAR $ 1,835,708 5,567,661 $ 7,403,369 10,404,327 in the financial statements. An audit NET ASSETS AT END OF YEAR $ 1,589,981 $ 5,528,769 $ 7,118,750 $ 7,403,369 also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial state- Statement of Cash Flows ment presentation. We believe that For the year ended June 30, 2009 (with comparative totals as of June 30, 2008) 2009 2008 our audit provides a reasonable basis Cash Flows from Operating Activities: for our opinion. Increase (decrease) in Net Assets $ (284,619) $ 4,144,474 $(3,000,958) Adjustments to Reconcile increase (decrease) in Net Assets to Net Cash Provided In our opinion, the financial statements by Operating Activities: Realized (gains) losses on Sales of Investments 77,955 (38,011) referred to above present fairly, in all Unrealized (gains) losses on Investments 205,172 (6,345) material respects, the financial position (Increase) decrease in Operating Assets: Accounts Receivable 393,252 (105,846) of the Baltimore City Foundation, Inc. Interest Receivable 4,997 6,279 as of June 30, 2009, and the changes Increase (decrease) in Operating Liabilities: Accounts Payable 568,483 14,692 in its net assets and its cash flows for Agency Funds Payable 35,492 203,128 the year then ended, in conformity with NET CASH PROVIDED BY (USED BY) OPERATING ACTIVITIES 1,000,732 (2,927,060) the accounting principles generally Cash Flows from Investing Activities: accepted in the United States of America. Purchase of Investments (309,316) (490,977) Proceeds from Sale and Maturity of Investments 30,769 93,725 NET CASH PROVIDED BY (USED BY) INVESTING ACTIVITIES (278,546) (397,252) King, King and Associates, P.A. NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 722,185 (3,324,313) Certified Public Accountants and CASH AND CASH EQUIVALENTS, Beginning of Year 1,046,694 4,371,007 Management Consultants January 5, 2010 CASH AND CASH EQUIVALENTS, End of Year $ 1,768,879 $ 1,046,694 12 BALTIMORE CITY FOUNDATION Financial Statements Notes to Financial Statements: 1. NATURE OF ACTIVITIES Baltimore City Foundation, Inc. (the Foundation) was incorporated on January 5, 1981 under the laws of the State of Maryland as a non-stock, not-for-profit corporation to foster and promote the growth, progress and general welfare of the City of Baltimore. The Foundation serves as a channel for the collection and disbursement of funds for various programs administered by local community organizations and Baltimore City agencies. The Foundation’s support comes primarily from individual and business donor’s contributions. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting The financial statements of the Foundation have been prepared on the accrual basis. Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Fair Value of Financial Instruments The fair value of financial instruments have been determined through quoted market prices or present value techniques to approximate the amounts recorded in the statement of financial position. 3. CASH AND CASH EQUIVALENTS For purposes of financial statement presentation, the Foundation considers all money market funds and highly liquid debt instruments with maturities of six months or less when acquired to be cash equivalents. Cash and Cash Equivalents consist of the following: 2009 2008 Money Market Accounts $ 38,878 $ 38,022 Repurchase Agreements 1,730,001 1,008,672 $ 1,768,879 $ 1,046,694 At June 30, 2009 and 2008, Cash and Cash Equivalents include $226,744 and $203,128, respectively, of Agency Funds Payable as reflected on the Statement of Financial Position. 4. INVESTMENTS Investments are recorded at fair value based on quoted prices in actual markets (all Level 1 measurements) and consist of the following at June 30, 2009 and 2008: 2009 2008 COST MARKET COST MARKET Cash/Mutual Funds $ 513,190 $ 513,190 $ 441,702 $ 441,702 U.S. Treasury 492,111 468,438 – – U.S. Agencies Securities 1,709,499 1,727,540 4,685,085 4,709,700 Municipal Bonds 101,505 101,695 – – Corporate Bonds 2,874,403 2,905,113 192,000 169,234 Equities 513,030 543,173 709,221 943,094 TOTAL INVESTMENTS $ 6,221,738 $ 6,259,149 $6,028,008 $ 6,263,729 The following schedule summarizes the investment return as reported on the statement of activities for the years ended June 30, 2009 and 2008: 2009 2008 Interest/Dividend Income $ 305,416 $ 411,919 Realized Gains (losses) (77,955) 38,011 Unrealized Gains (losses) (205,172) 6,345 $ 22,290 $ 456,274 5. NET ASSETS RELEASED FROM RESTRICTIONS All contributions are considered to be available for unrestricted use unless specifically restricted by the donor. Amounts received that are designated for future periods or restricted by the donor for specific purposes are reported as temporarily restricted or permanently restricted support that increases those net asset classes. When a temporary restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. During the year ended June 30, 2009, $2,695,735 in net assets were released from donor restrictions by incurring expenses satisfying the restricted purpose specified by the donor or grantor. 6. INCOME TAX STATUS Many YouthWorks 2009 The Foundation qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, therefore, has no provision for federal income taxes. The organization is not a private foundation. participants worked 7. DONATED SERVICES Certain support services are performed by personnel of the City of Baltimore, and the Foundation does not incur any cost for services rendered by such employees. No amounts have been recognized in the statement of activities with Baltimore City’s because the criteria for recognition under SFAS No. 116 have not been satisfied. 8. UNRESTRICTED ADMINISTRATIVE EXPENSES Department of Public During the fiscal year ended June 30, 2009 and 2008, the following expenses were charged to the administrative account. Works to plant gardens 2009 2008 Charitable Contributions $ 188,397 $ 184,632 Professional & Contractual Fees 42,663 39,500 and restore the courtyard Investment Fees 30,769 30,940 Other Fees 5,234 5,479 Supplies 476 – at the Peale Museum in Printing – 514 $ 267,539 $ 261,066 downtown Baltimore. 9. COMPARATIVE INFORMATION The financial statements include certain prior-year summarized comparative information in total but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with generally accepted accounting principles. Accordingly, such information should be read in conjunction with the Organization’s financial statements for the year ended June 30, 2008, from which the summarized information was derived. Baltimore City Foundation Board of Directors Lenwood Ivey, Ph.D. President Baltimore City Foundation, Inc. Special Consultant to the Mayor, Baltimore City L. Patrick Deering Chairman of the Board Riggs, Counselman, Michaels & Downes, Inc. Edward Gallagher Director Baltimore City Department of Finance Williard Hackerman President/CEO The Whiting-Turner Contracting Company James Piper III Former Executive Vice-President Coldwell Banker Residential Brokerage Karen Sitnick Director Mayor’s Office of Employment Development Hon. Martin P. Welch, Sr. Judge Circuit Court for Baltimore City Ellen H. Yankellow President/CEO Correct Rx Pharmacy Services Board Support: Michael Broache Nancy Leonard Baltimore City Foundation, Inc. 10 North Calvert Street , Suite 915 Baltimore, MD 21202 Telephone: 410 - 396 -1395 The Baltimore City Foundation is a 501(c)(3) nonprofit organization – donations to which are tax deductible to the fullest extent allowed by law. A copy of our current financial statement is available upon written request at 10 North Calvert Street, Suite 915, Baltimore, MD 21202. Documents submitted to the State of Maryland under the Maryland Charitable Solicitations Act are available from the Office of the Secretary of State for the cost of copying and postage.
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