HomeMy WebLinkAbout09.09.2002 (3)COUNCIL WORK SESSION
September 9, 2002
4:45 p.m.
Council Chambers
Members present: Berry, Welper, Greenwood, Clark, Jordan.
Members absent: Hurley, Getty.
Moved by Berry, seconded by Welper that the Agenda, as proposed, be approved. Ayes: Five.
Absent: Hurley, Getty. Motion carried.
Mary Ann Burk, President and CEO of Community Foundation of Waterloo/Cedar Falls and
Northeast Iowa, updated the council on the Community Foundation. Community Foundation is
people connected by geography and to each other. Community Foundation is a non-profit means
to support our community. The Community Foundation's main purpose is permanent
endowments. Permanent endowment means: invest and protect principal, distribute earnings via
grants, build permanent community capital and create donor legacies. Community Foundation's
broad flexible purpose is to monitor all community needs such as arts and cultural, economic
development, etc. The Community Foundation monitors the community's needs by supporting
high impact opportunities, bringing organization into existence, and redirecting funds as
appropriate. Personalized giving fulfills multiple charitable intents and contributions are made
through cash, stocks, property bequests, insurance, retirement plans, E-Bonds and charitable gift
annuities.
Ms. Burk reviewed Community Foundation's background. Community Foundation was
established in 1956 as the Civic Foundation. In 1993 the first paid Executive Director was hired,
and in 2000 the name was changed to Community Foundation of Waterloo/Cedar Falls and
Northeast Iowa and the Executive Director title was changed to President and CEO.
Ms. Burk reviewed the statistics for Community Foundation. On April 30, 2002, Community
Foundation had $18 million year-end asset value. Ms. Burk reviewed the Board of Trustees,
2002 grants, and why people chose the Community Foundation.
With no further business before the council, it was moved by Welper, seconded by Clark that the
meeting be adjourned at 5:16 p.m. Ayes: Five. Absent: Hurley, Getty. Motion carried.
Nancy Eckert
City Clerk