Hamilton Community Foundation
Encyclopedia
Hamilton Community Foundation (HCF) is a Community Foundation
that pools donations and Financial endowment
s into a coordinated investment and grant-making facility dedicated primarily to the social improvement of Hamilton, Ontario
. Its current President and CEO is Terry Cooke, the former Regional Municipality of Hamilton-Wentworth regional chair and Hamilton Spectator columnist.
HCF is the oldest community foundation in Ontario. It was founded in 1954 and modeled after Winnipeg Community Foundation, the first Community foundation in Canada. The concept of a permanent endowment that issued grants was unfamiliar to Hamiltonians at first, and HCF secured just $100 in gifts in its first year. However, its gifts and endowments grew steadily and it reached $10 million in assets by the Foundations's 40th anniversary in 1995.
HCF currently has over $125 million in assets and has disbursed close to $65 million in grants since its formation in 1954. It launched "Tackling Poverty Together" on its 50th anniversary, and was a co-founder of the Hamilton Roundtable for Poverty Reduction with the City of Hamilton and other community stakeholders. The Roundtable has earned national attention for its innovative approach to poverty reduction.
Those efforts have included: an $8.4 million, eight-year commitment to build strong communities; a grants program for students to undertake community-building projects; and participation in the Hamilton Spectators Code Red study of various public health indicators by neighbourhood across the city.
HCF is governed by a board of 18 directors who are selected by a nominating committee that consists of the Mayor, Chief of Police, President of the Hamilton Chamber of Commerce
, President of the Hamilton Law Association, and Chair of the United Way of Burlington and Greater Hamilton.
In May 2011, HCF announced its partnership with the Community Forward Fund to offer loans to the charitable and non-profit sector. HCF will provide $2 million in loan capital to Hamilton organizations from its $5 million community investing fund; CFF will provide due diligence, administration, and evaluation services for loans, and will also offer financial advisory services to these loan recipients.
In August 2011, the first loan was made to Hamilton Artists Inc.a long-standing artist-run centre that supports and
reflects the diverse environment of the community. A loan from HCF’s community investment fund allowed them to complete a building project in the city's burgeoning James Street North arts community while awaiting promised financing that had been delayed.
Hamilton's Vital Signs, a broad look at 12 areas of community health, in co-operation with the Hamilton Spectator. It looks at:
Gap between rich and poor
Environment
Belonging and leadership
Economy
Learning
Health and well-being
Housing
Getting started in the community
Arts and culture
Safety
Transportation
Work
The report supports the findings of wide neighbourhood disparity brought to public attention by the Spectator's Code Red series. A 8-part series on local cable is supplementing the public's understanding of the issues.
Community foundation
Community foundations are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place...
that pools donations and Financial endowment
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
s into a coordinated investment and grant-making facility dedicated primarily to the social improvement of Hamilton, Ontario
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
. Its current President and CEO is Terry Cooke, the former Regional Municipality of Hamilton-Wentworth regional chair and Hamilton Spectator columnist.
HCF is the oldest community foundation in Ontario. It was founded in 1954 and modeled after Winnipeg Community Foundation, the first Community foundation in Canada. The concept of a permanent endowment that issued grants was unfamiliar to Hamiltonians at first, and HCF secured just $100 in gifts in its first year. However, its gifts and endowments grew steadily and it reached $10 million in assets by the Foundations's 40th anniversary in 1995.
HCF currently has over $125 million in assets and has disbursed close to $65 million in grants since its formation in 1954. It launched "Tackling Poverty Together" on its 50th anniversary, and was a co-founder of the Hamilton Roundtable for Poverty Reduction with the City of Hamilton and other community stakeholders. The Roundtable has earned national attention for its innovative approach to poverty reduction.
Those efforts have included: an $8.4 million, eight-year commitment to build strong communities; a grants program for students to undertake community-building projects; and participation in the Hamilton Spectators Code Red study of various public health indicators by neighbourhood across the city.
HCF is governed by a board of 18 directors who are selected by a nominating committee that consists of the Mayor, Chief of Police, President of the Hamilton Chamber of Commerce
Chamber of commerce
A chamber of commerce is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community...
, President of the Hamilton Law Association, and Chair of the United Way of Burlington and Greater Hamilton.
Community Investing
In October 2010, HCF's board of directors established a $5 million fund to create the Hamilton Community Investing Fund enabling the foundation to put more of its assets to work locally. The fund HCF will enable the foundation to invest directly some of its assets into the community, or social/environmental enterprises consistent with their mission, rather than into the stock market. The investments can take the form of direct investment into charitable or non-profit ventures, or as loans to qualified organizations for purposes which further the foundation’s mission.In May 2011, HCF announced its partnership with the Community Forward Fund to offer loans to the charitable and non-profit sector. HCF will provide $2 million in loan capital to Hamilton organizations from its $5 million community investing fund; CFF will provide due diligence, administration, and evaluation services for loans, and will also offer financial advisory services to these loan recipients.
In August 2011, the first loan was made to Hamilton Artists Inc.a long-standing artist-run centre that supports and
reflects the diverse environment of the community. A loan from HCF’s community investment fund allowed them to complete a building project in the city's burgeoning James Street North arts community while awaiting promised financing that had been delayed.
Hamilton's Vital Signs
On October 4, 2011 HCF published the second edition ofHamilton's Vital Signs, a broad look at 12 areas of community health, in co-operation with the Hamilton Spectator. It looks at:
Gap between rich and poor
Environment
Belonging and leadership
Economy
Learning
Health and well-being
Housing
Getting started in the community
Arts and culture
Safety
Transportation
Work
The report supports the findings of wide neighbourhood disparity brought to public attention by the Spectator's Code Red series. A 8-part series on local cable is supplementing the public's understanding of the issues.