This past year was one of change for the Indian River Community Foundation, beginning in February with the hiring of new CEO Jeff Pickering to replace Kerry Bartlett, who resigned after six years at the helm. Then in August, the organization began moving into its new headquarters in the Oak Point Professional Building.
“We were generously hosted for almost our full history by the McCabe Foundation; we shared office space,” says Pickering, referring to the Robert F. and Eleonora W. McCabe Foundation. “There are lots of generous people giving, but when it comes to understanding the business of philanthropy and investing in professional staff, they get it and I’m very grateful that they’re a partner in the community.”
Born and raised in Winter Park, FL, where his parents, brothers and 89-year old grandmother still reside, Pickering graduated from the University of South Florida before attending graduate school at the University of San Diego. He developed a passion for nonprofits and philanthropy as a lay missionary with the Vincentian Service Corps in New York City, and his most recent position was as CEO of the Kern Foundation in Bakersfield, CA.
Pickering commuted from California as a consultant for five months until fully coming on board in June, when he relocated with wife Stephanie and children Collin, 11, Olivia, 10 and Grant, 2. It’s been a busy summer, getting their own house and the new headquarters in order before the older two headed off to St. Edward’s School and the little one to the Community Church Pre-school.
Of the organization he is quickly getting to know, he discloses that despite its young age, the IRCF is one of the fastest-growing community foundations in the nation. In 2014 it was also the second most active grant-maker among Florida community foundations, with grants equaling $7.8 million. The audited report is due out in November, but preliminary figures indicate record assets of $29.3 million held in 129 donor funds as of June 30, 2015, for fiscal year 2014-15.
“I’m very proud to say that in just seven years, we’ve made grants to the community of more than $30 million,” says Pickering. “Over time, when you get good at making grants, most of which stay right here in Indian River County, you begin to learn about what can affect positive change.”
He says an important aspect of the grant process is assisting charitable organizations to build their organizational capacity, develop effective programs and remain sustainable. “You can’t do that blind. You have to have a focus on understanding the fundamentals of what makes the nonprofits in this community work.”
He sees a growing number of sophisticated donors around the table who don’t simply treat their charitable giving as donations; they consider them as investments and are expecting real results. As a trusted advisor, the IRCF helps donors to see the results-oriented impact of those investments.
“Our mission is building a stronger community through donor-driven philanthropy. It’s the donors who recommend, or suggest, or advise us where the grants should go. Over time, as an institution, we potentially become one of the most knowledgeable philanthropic resources in the community.”
Pickering says it’s equally important to know the impact of modest as well as transformational grants. “I always try to say is, philanthropy is not about how much you give, it’s about how you give. If you want to be a partner with us and treat your charitable giving like an investment, we’re the perfect place. We want to work with people who are thoughtful about their giving, and want to treat their giving in some thoughtful way.”
While funds tend to start at $25,000 and above, Pickering is not opposed to the idea of smaller funds. “If a family came in and said giving back and teaching our kids to give back is important to us and we’d like to establish a fund, I could make a case to the board that it’s worth it. We want to promote that behavior. I think there’s more room under the tent.”
Another IRCF area of expertise is as a vehicle for donors to gift appreciated assets, such as stocks, the sale of a company or real property, to a charitable organization. Additionally the IRCF offers online technological services similar to those of Fidelity, Schwab or Vanguard, and a relationship through the Greater Kansas City Foundation allows the IRCF to operate as a larger foundation and work with a donor’s own financial advisor.
“That’s a huge benefit for donors; we’re very unique in that regard. We encourage donors to work with their own financial advisors.”
Increasingly, donors are making provisions in their estate plans to leave a charitable legacy to the IRCF, following the lead of Legacy Society namesake Alma Lee Loy. “We have been and will continue to be in business primarily to help individuals and families to organize and carry out their charitable giving. If we provide them with good service and they trust and value the work that we do for them we earn the privilege, hopefully, to help them create and leave a charitable legacy and we’ll be the stewards of that forever.”
The need to plan for the future is critical. Pickering points out that despite roughly $200 million being contributed to local charities last year, primarily through the outright gifts or bequests of individuals, only about 10 percent of the 185 nonprofits big enough to file a tax return have more than 12 months’ savings on their balance sheets.
“If I think about the health of this community and its nonprofit sector, a good number of well-meaning, well-run organizations’ financial positions are very fragile. What if we were able to inspire people in this community to not just give while they’re alive, but to make a provision in their estate plan to leave at least 5 percent of that for the nonprofit sector in this community? We have the opportunity to help sustain the nonprofit sector for the next 50 years if people do that.
“I think what people can expect from us is growth. Not just financially, but how to build on the good practices of philanthropy in this community and make it better. Under Kerry’s and Rick’s [McDermott] leadership this place got off to a good start. We’re positioned to do things even better.”
