CREATING AN ENDURING SOURCE YEAR IN

OF FUNDS FOREVER DEDICATED REVIEW

TO THE GOOD OF BERMUDA
2017–18
Since January 31, 2014

Serving the Community

What YOU have to say about BCF

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Convening participant
One of our many reports

Thank you for all the Chuck and the other Thank you… for “Born
hard work that you do… debaters were amazing. on Third Base.” It
—Recipient of Vital Nice job! makes very interesting
Conversation —Community reading! So too does
Convening Report meeting attendee the report.
—Card received, 2018

A PROUD PARTNER OF THE GLOBAL COMMUNITY FOUNDATION MOVEMENT

 Background

ABOUT BERMUDA COMMUNITY FOUNDATION

The purpose of the Bermuda Community Foundation is We work directly with donors to understand their
to make grants, facilitating and cultivating gifts from philanthropic vision and create funds to support causes
donors to nonprofits, causes and public institutions, from that are most important to them. Funds from different
arts and education to health and community services that donors are aggregated, invested and managed to achieve
serve the Island’s residents. The foundation provides donors greater returns for Bermuda’s nonprofit sector.
with a simple, convenient and flexible way to make an
impact—now and forever. To fulfill our mission to create an enduring source of
funds forever dedicated to the good of Bermuda, we
BCF also enables corporations, individuals and families direct our efforts and dollars into funding long-term
to establish customised charitable funds without having solutions to priority issues for the community.
to set up a private foundation or trust, and without the
accompanying administration and tax issues.

OUR PROFILE
Established as Limited Liability Company Jan 31, 2013
Opened as Registered Charitable Foundation Jan 31, 2014
Segregated Accounts Company conversion Oct 31, 2014
Endowment Fund established Dec 31, 2015
Accredited by UKCF May 31, 2016
Friends of BCF (US 501c3) established Aug 20, 2015
Active Funds under management as at June 30, 2018 60
Pooled Endowment Fund value as at June 30, 2018 $4.48 million
Total Assets under management (average) as at 06/30/2018 $9.01 million
Gifts to Funds comprising BCF $2.19 million
Facilitated Grant / Giving Transactions $1.14 million
Size of staff 2.5
Population area served (per 2016 Census) 63,779

2
 By the numbers

$9.01million $2,188,004
TOTAL ASSETS GIFTS TO FUnDS
AS OF 30/6/18 COMPRISInG BCF

$1,139,211 $986,471
Facilitated grant / FORMAL GRAnTS
giving transactions DISBURSED

60
Funds
10 168
Active donor- Grants / fiscal
comprising advised grant sponsorship
BCF committees (excluding interfund activity)

3
 BCF is here for GOOD

MESSAGE FROM THE CHAIR & CEO

Dear Bermuda Community Foundation Partners, input as a resource to the Arts & Culture Assets Audit
Thank you for another year of support, leading us up to and Action Plan and the Bermuda Insurance Market
the Foundation’s fifth anniversary on January 31, 2019. Conference on Diversity.
Your help and encouragement have enabled another year
of accomplishment for the BCF. Some highlights: All of this activity was the natural next step in the BCF’s
“theory of change”, our working hypothesis developed in
u A convening on Early Childhood Education was 2014. Simply put, the BCF value lies in its ability to:
attended by more than 25 individuals representing
government agencies, nonprofits and funders. For many of 1) Establish a structure modelled on top-performing
them it was an important first opportunity to collaborate like-entities
with diverse service providers in their sector. 2) Gather and distribute information about the nonprofit
u We launched the Red Flags website following approval sector and its effectiveness
from the Regional Municipality of York (Canada) to 3) Assist understanding of how to establish local
reproduce the report online. This tool is expected to priorities
bring value to the community by enabling early detection 4) Demonstrate how funding could be directed to these
of children in need of help. priorities.
u Impact measurement took a leap forward with
creation of the first reports generated by our Social We didn’t do it alone. Reviewing the year, it’s important
Impact and Universal Outcomes pilot programme. Given to note that this progress would not have been possible
the challenges faced by donors—and nonprofits—in without:
measuring their success, this is proving to be a significant
initiative for Bermuda. u Donors, who continue to provide crucial support to
u Five reports resulting from our eight Vital Signs Bermuda’s nonprofit programmes
convenings were released, modelling a process for u nonprofit leaders who agree to pilot the new
prioritising and agreeing standardised outcomes that will systems we are introducing
guide efforts to improve quality of life in Bermuda. u nonprofits that bring forward new project ideas
u We participated in a number of initiatives, offering addressing the root causes of complex social issues

WITH APPRECIATION
The Bermuda Community new facet to Bermuda philanthropic and effective organisation. The
Foundation owes a debt of gratitude sector was never going to be an Board and Staff thank Peter for
to Peter Durhager for his unflinching easy task and Peter’s leadership was sharing his intellect, knowledge and
leadership since 2013. He first came a crucial factor in its acceptance and skills in his work with the BCF—for
on board as part of the steering growth. His intelligence and skill in the good of Bermuda.
committee which brought the BCF “playing to strengths” resulted in —Myra Virgil
into existence. The introduction of a the development of a well-balanced

4
u Board members, fund advisors and community u KYC reporting and risk policy reviews
members who help guide the BCF in its quest for positive u Charitable status re-registration
and lasting impact. u Audits for 2017 and 2018.

As a relatively new community foundation, our pockets This has been taxing work, without the commensurate
may not be as deep as some. We are working on that. visible impact. But if we hadn’t delivered positive results
For now, our value is in our approach. in these areas, we could have put the integrity of our
organisation at risk. All was accomplished, increasing
The BCF was formed to create an enduring source of our demonstrable organisational strength and enabling
funds by encouraging legacy giving and consolidating us to proceed with the work we have been established
giving to nonprofits. To get there, we are developing to undertake.
and helping to enable data-informed, evidence-based
philanthropy. As we are successful, donors start to see As we enter 2019, the BCF will have a change of Board
the changes their giving makes possible and we all leadership with Michael Schrum taking over as Chair.
become better able to measure our effectiveness. Michael has served as Treasurer since September 2013.

With a variety of philanthropic funds serving a wide With your support, we have come a long way in five
range of charitable purposes, thanks to the generosity years. Getting set up has been about establishing a
of donors, the BCF’s philanthropy becomes a mix of robust, effective and compliant governance structure
responsive grantmaking, agenda setting, mobilisation and and laying the foundations for our future growth and
actionable knowledge creation, programmatic work, impact. This year, to be sure, we are going to need your
collaborations for collective impact, facilitated and guided continued support to dive deeper into work that
grantmaking, and endowment building. transforms the community we all care about.

In these ways, our work fundamentally differs from other Thank you.
grantmaking organisations. This is something we have in
common with other community foundations. Our peer
organisations around the world play a major role in
informing donors about social issues and championing
PETER DURHAGER, CHAIRMAN
the value of evidence-based work.

In addition to our core accomplishments, 2018 was a

MYRA VIRGIL, CEO
year of considerable unexpected operational activity
& MANAGING DIRECTOR
requiring intense focus on some crucial regulatory
reporting, compliance and administration issues, including:

u Participation in Bermuda’s Caribbean Financial Action

Task Force anti-money laundering assessment, including
onsite compliance verifications
u Consultation on Charites Act 2014 amendments

5
 What’s in the 2019/20 pipeline

Board Certification for philanthropic excellence, UKCF challenges, needs and approaches,
Community Foundations Quality Accreditation Programme building expertise around the
(QA3), establishes legal, ethical, and convening process, and enabling
Community foundations are unique effective practices for community structured conversations on the
organisations, with Board members foundations everywhere. critical community priorities and
essentially taking responsibility for ideas for collaborative action to
managing the community’s legacy inspire and guide philanthropy.
Bermuda’s Vital Signs
fund. As part of our commitment to Convenings—Phase II
good stewardship and best practice, This process of gathering and
the BCF Board members will pursue Once the 2017 Vital Signs® report reporting community intelligence
comprehensive certification focusing had been released, we began working will be completed in 2019 with field
on the core essentials of community to target funding and develop indica- representatives weighing in on the
foundation work, from asset develop- tors and benchmarks for the priority prioritisation of Housing, Safety and
ment and quality grantmaking to areas. While it is not our job to Education outcomes and indicators.
fiduciary and policy matters. move the needle on these issues,
we are committed to providing a If we get this right, we will be ready
framework within which prioritising, to explore questions like:
UKCF Re-accreditation
funding and evaluating progress can
The BCF will seek organisational flourish. Most community foundations u What would our community look
re-accreditation, undergoing the focus on process and dialogue but like if every resident had comprehensive
rigorous, comprehensive process for we aim to go a bit further with healthcare coverage?
which it was awarded top marks in creation of a thorough and shared u What if all residents felt safe
2016. The UK’s highest standard for understanding of Bermuda’s and secure moving from one

WHY THE VITAL SIGNS® PROGRAMME IS IMPORTANT

Vital Signs® is an initiative which community is performing, assessing It measures the vitality of our
identifies key issues affecting a local local perceptions of the key issues communities, identifies significant
community. Using a combination of which matter most to residents. trends and shares opportunities
existing research and surveys with for action in issue areas critical to
local residents,Vital Signs® reports Understanding the needs of a quality of life.
give a check-up on local social community and the issues it faces is
trends, key community needs, and the first step to being able to solve The 2018 grants have been classified
what people think of the place them. This is what Vital Signs® does. by Vital Sign priority to help us
where they live and work. Vital Signs® is a periodic community understand how our social invest-
check-up conducted by community ments line up with the community’s
Vital Signs® identifies how well the foundations across the globe. priorities.

6
 Grantmaking

parish to another?
u What if every resident had
GRANTMAKING AT BCF
adequate, affordable housing?
u What if the public education BCF’s grantmaking programmes are supported by a range of unrelated
system addressed the learning needs donors who wish to ensure the sustainability and success of nonprofits
of all types of learners? in Bermuda by creating endowment funds. These donors use the
u What if every student who got resources and expertise of BCF to support their grantmaking in such
into university could afford to go? fields as diversity and inclusion (the Diversity Fund), sport (the Charles
u What if all nonprofits had healthy E. Marshall Fund, the Flora Fund) or general philanthropic interests
endowments? (RenaissanceRe, Bridge, Hemera) that span all areas of the sector.
Some of these donors are private individuals or entities who have
The TalkWell.bm site will be chosen to keep a low profile on the scope and details of their giving.
revamped to invite input from residents
on the 2017 Vital Signs performance These donor gifts, combined with the BCF’s unrestricted contributions,
areas in place until the 2021 resulted in grants1 totalling over a million dollars.
research commences.
u $1.1 million to 168 nonprofits and community programmes in
Bermuda between July 1, 2017 and June 30, 2018. This shows the
Impact Measurement
incredible range of organisations supported through the generosity
Community Reports
of BCF donors.
We will delve into initial reports u 80-plus grant distributions were made through Donor-Advised,
produced by this online tool that Designated and Agency endowment funds at BCF with the help of
guides nonprofits through a process their granting committees and fund advisors.
evaluation. At first glance, the reports u BCF considered over 100 programmes on behalf of all donors and
help inform whether or not grantees fund holders with grants approved from BCF’s own unrestricted pool
are faithful to their stated missions of funds totalling just over $110,000.
and are focused on the aligned u Of the total number of grants and distributions this year, nearly
outcomes. The data enables us to half were made at the direction of donors from 12 donor-advised
determine whether a grantee under- charitable funds.
stands the field they are in, the com-
ponents of an effective programme in The Bermuda Vital Signs® initiative has enabled us to evaluate and
that field, and how to accomplish it. determine more clearly the most-needed programmes in the community.
Grantmaking was adjusted in 2018 to align with those needs, and
With these results, we will be able to changes were made to the process, including inviting new applications
map the work to a set of standardised and contacting organisations with effective programming in the identified
outcomes. It is early days, but we priority areas. Using the BCF central fund, we also contributed to
believe the investment made by BCF some valuable but under-funded programmes.
in this evaluation tool will yield trans-
formative results for the community.
There is more to come!

1 This update is illustrative and excludes all 3rd party, out-of-fund fiscal sponsorships. Timing in
terms of decisions and disbursements may also result in differences between these grant totals and
those reported in BCF’s audited accounts. The BCF’s audited financials can be viewed at www.bcf.bm

7
 Grantmaking

Programmes operating in the Vital Signs® priority area The Youth Entrepreneurship Programme received funding
Mental Health, which includes substance abuse and family from BCF for the first time while the BCF’s signature
counselling programmes, received grants of $147,000. capacity-building nonprofit Leadership Development
nonprofits working in the field of education received Programme, delivered by Youthnet and the Centre on
almost $300,000 in support. Swan’s Project Ride was Philanthropy, was fully funded for the second consecutive
approved a contribution of $1,500 to support the team year. The pilot programme graduated seven executive
helping youngsters to drive safely. Interestingly, few directors who were granted certificates from the University
applications were received from nonprofits tackling crime of Milwaukee Wisconsin’s “Introduction to nonprofits.”
and violence or employment, despite these being identified Raleigh Bermuda’s Executive Director, Tina nash, was
as among Bermuda’s most pressing social issues, awarded Duke University’s Executive Certificate in
nonprofit Leadership through the nLDP.
The Board was especially pleased to co-fund the inaugural
Beacon Awards Scheme, made possible by a partnership Recipients of grants will be invited to reflect on their
between the BCF and the Atlantic Philanthropies Fund. work by participating in the BCF’s Social Impact
This fund acknowledges the commitment of not-for-profit Measurement process to align key programme outcomes
agencies (nonprofit and public) to become certified or from a menu of universal standard outcomes. Access to
accredited by the Bermuda national Standards Committee. this new impact assessment tool is being made available
Funders have found that grant applications from the 30 to BCF’s donor clients, linking the Vital Signs®
BnSC certified or accredited agencies tend to be of a programme to the successful outcomes achieved by
higher quality because they have passed extensive charitable organisations tackling social problems.
governance, compliance and service reviews.

GRANTMAKING BY VITAL SIGNS® PRIORITY AREA

Vital Sign Priority Vital Sign Performance Area Amount
Community well-being Arts, Culture & Heritage $281,499.55
Citizen Engagement & Civic Responsibility
The Environment
Diversity & inclusion Diversity & Inclusion $26,855
Economy and work Cost of Living $1,425
Education Access to Higher Education $299,459.21
Quality of Education
Health & personal well-being Accessibility of Healthcare Services $250,414.82
Availability of Healthcare Services
Mental Health
Physical Health
Housing Cost of Housing $39,480
Safety and security Safety $475

8
 Investments

OUR INVESTMENT PORTFOLIO

The BCF investment portfolio balance stood at $4,476 of 2018, driven largely by the underweight to US stocks,
million at June 30, 2018 vs $4,762 million at the end of which were the strongest performers year to date.
2017. The total invested amount including additions over Overall, the portfolio remained overweighted towards
time is $3,965 million. The year-end portfolio allocation non-US equity markets. Patience pays off in the long run,
was split between the Orbis Global Equity Fund ($2,906 as the portfolio weathered a challenging 2015/16 period
million, or 66%), the Orbis Balanced Fund ($207,000, or of underperformance followed by a strong rebound to
5%) and the Orbis Optimal Fund ($1,315 million, or outperform in 2017 only to see another period of
29%). On a risk weighted basis (measured as volatility), weakness year to date, during which time essentially any
the overall allocation in aggregate continues to be in exposure outside US large cap (growth in particular)
range of the balanced mandate as proscribed within the underperformed. The global nature of the BCF portfolio
IPS with average volatility of 12.4 vs 14.9 for the FTSE asset allocation means that any time the US is such a
World Index. clear leader, the portfolio will underperform.

Performance of the portfolio for the quarter ended 30 The three-year annualised return of the portfolio was
Jun 2018 was –12.4% as compared to the benchmark +3.5%, in line with +3.8% for the benchmark. Since
of –8.6%. Relative underperformance is being monitored. inception (September 2014) the portfolio has posted
After strong performance in 2017, the Orbis Global returns of 0.3% annualised, compared to 2.6% for the
Equity Fund saw underperformance in the second quarter benchmark due to the timing of the initial investment.

WHAT’S THE ENDGAME?

System impact: third BCF programme impact
sector wide Sphere of Contribution Sphere of Attribution
Sphere of Influence u Increased, targeted funding for most pressing u Information/guidance for
u Increased presence of social issues as identified by field/sector data funders on funding options
planned giving in sector; u Improved information on programme in their interest areas
sustained charitable giving performance and grantmaking; metrics/indices u Endowment growth:
u Increased funding for and capture state of conditions we all aim to endowed funds cover
investment in programme/ improve operational needs and
product/service develop- u Improved understanding of organisational fund an unrestricted grant
ment/re-alignment, capacity health & best practices for programme and programme; strong, market-
building, research, policy service delivery linked ROI available for
development and evaluation u Increased availability of info on civic society, grantmaking to charitable
in sub-factor areas societal issues and community philanthropy sector

9
 Our Theory of Philanthropy

If we build an enduring source of funds, and

If we invest in understanding community priorities for quality of life in Bermuda,
Our philanthropy will achieve meaningful impact

PROGRAMMES &
RELATIONSHIPS WHAT IT’S ABOUT HOW WE DO IT

BERMUDA Building a permanent charitable u Establish donor-directed and operational endowed funds
COMMUnITY FUnD endowment professionally managed by Orbis
u Develop donor products, i.e. planned giving instruments

Social Mission Classification and u Gather info on programmes: report out; populate platforms.
GIVE increasing the appetite of donors u High-level analysis
Bermuda of all types and at all stages, for u Provide third sector/social issue data/criteria with infra-
evidence-based giving structure supported by GuideStar
.org

Reporting to standardised u Map nonprofits programmes to outcomes

universal outcomes; gathering predictive u Translate programme activities into standard outcomes
outcome programme data (based on emerging evidence that approximately 150 standard
Reporting outcomes drive 80% of all social change) currently made available
through the Impact Genome Reporting Platform®

Beginning to assess programme u Map Vital Signs® to universal outcomes

efforts. Systematically surfacing and u Identify measurable outcomes / indicators for Bermuda’s
capturing local community priorities Vital Signs using evidence-based industry standards
FUNDING IMPACT

u Identify emerging critical social issues; gain deeper under-

standing of communities priorities / issues

Grantmaking and facilitating funding u Showcase or pilot work in critical interest areas to
central support for system-wide, sector- stimulate discussion / uptake
grantmaking based efforts. Evidence-based giving u Seek funding proposals for vital activities based on
Programme and collective impact. Strategic predicted outcomes
philanthropy u Align funding strategies to indicators

Taking an aerial view of how we are u Convene to identify key Indicators/benchmarks of Vital
community doing as a whole. Ongoing assess- Signs® sub-factors; map outcomes to programmes
ment of gaps and opportunities u Generate systemic rule change proposals for programmes
Impact
Programme
& services, government policy, structures and infrastructures

Stimulating thoughtful, solution-led u Host an online forum for promoting greater clarity and a
dialogue that helps Bermuda move deeper understanding of important issues as identified by the
forward community

Understanding community well- u Evaluate progress on goals based on Bermuda Vital Signs®,
being in global context Community Impact, Central Grants and Universal Outcomes work

10
 Who we are, thanks to you

Founding Investors and Legacy Contributors

The Atlantic Philanthropies
Buchanan Charitable Fund
RenaissanceRe
Bloomberg Philanthropies Michael & Vanessa Schrum
Bridge Charitable Trust Brian & nancy O’Hara
XL Foundation Cummings V. Zuill
Hemera Foundation Michael Brace & Julia Brace
Meritus Trust Limited Anonymous individual contributors

FY2018 GIFTS On behalf of our fund holders and the board and staff team at the Bermuda Community
Foundation we would like to extend our thanks to the individuals, businesses and organisations who
made a donation towards the funds held within the organisation

Gifts to the benefit of BCF Programmes and Operations

Bridge Charitable Trust Cripps Foundation Hemera Foundation Michael & Vanessa Schrum XL Foundation

Gifts to Donor-Directed Funds housed at BCF

Appleby Chubb Sponsorship Committee Christian Humann Foundation Orbis Investment Management
Arch Reinsurance Ltd. Clarien Limited Wendy & Gordon Johnson Limited
Argo Foundation Errol Clement Keith and Suzette Fisher Renaissance Reinsurance
Argus Group Coalition for Community KPMG International Services Rising Sun Cruises
John Ashlington Activism in Bermuda (CCAB) Limited Daniela Romaine
Atlantic Philanthropies (USA) John Collis Lee Mello Raymond & Dianne Russell
Bank of Bermuda Foundation Conyers, Dill & Pearman Mailboxes Unlimited Ltd. Walter & Kate Scott
BF&M Insurance Limited Mark Orchard Trunomi
Bridge Charitable Trust nick Dill MS Amlin Watford Re Ltd
Galen & Kerry Brislane The Gutteridge Family national Dance Foundation XL Foundation
Charles Duffy Hamilton Re of Bermuda Zurich Insurance Company Ltd,
Charles E. & Lesley Marshall Hemera Foundation Philip & Dodi Mason Bermuda Branch
Chubb Charitable Foundation Ian Hind Oil Insurance Limited
– Bermuda Jonathan Howes One Communications

Gifts Sponsored through BCF, direct to local programmes

Kristin Alexander Cindy Fisher Andrea Jackson Joe Rego
Anthony Basile The Green Family Michael & Fay Leseur Andrew Richardson
Karen Border Chris Gibbons Margaret Lloyd Val Sherwood
Sahima n. Choudhury-Thomas Theresa Hall Keren Lomas Allan Wayne Smith
J. A. Conyers Kerri Harkins Christine Mayor Glen Smith
Alexia Crofton Greg & Pat Haycock Robin Mayor Andrea Tompkins
George & Sue Cubbon Fiona Herring Kevin McGeever The Troake Family
Roberto da Silva Kelly Hunt Melissa Moore Edgar Van der Meer
The Emory Family Anne Hyde Peter & Liz nash Gareth Vaughan
Adam Farrell Bill Ingham Sheila nicoll

For information on donors to Bermuda nonprofits via Friends of BCF, go to www.bcf.bm/AmericanTaxpayers

11
 Donor funds at BCF
Thank you to new and existing donors for placing trust in us to effectively manage and steward your funds

Fund name Est. Type Fund name Est. Type

The Flora Fund 2018 Donor-Advised TalkWell.Org 2015 Donor-Advised
non-Endowed non-Endowed
Roland Skinner Memorial Fund 2018 Donor-Advised Atlantic Philanthropies Fund (The) 2014 Donor-Advised
for Bermudian Visual Arts Endowed non-Endowed
Cari Foundation Programme Fund 2018 Donor-Advised BCF Endowment Fund 2014 BCF Endowment
non-Endowed BCF Read Write Bermuda Campaign 2014 Field of Interest
Schrum Family Legacy for BCF 2018 BCF Operating Fund non-Endowed
Programme (Legacy) Bridge Charitable Trust Charitable Fund 2014 Donor-Advised
Beacon Awards Scheme for BnSC 2018 Field of Interest non-Endowed
Organisation non-Endowed Bermuda Debate Society Agency Fund 2014 Agency Endowment
Brace Family Fund for the Bermuda 2018 BCF Designated Buechner Society of Bermuda Fund 2014 Donor-Advised
Community Fund Endowment (Legacy) for Family Literacy & Literature non-Endowed
Age Concern Bermuda Fund 2017 Agency Endowment De Weg Fund 2014 Donor-Advised
BCF Capacity Building in Sport 2017 Field of Interest Endowed
non-Endowed Ida James Memorial Fund for 2014 Field of Interest
BCF Donor Communication 2017 BCF Operating Social Work Endowed
Programmes Programme Joan Darling Memorial Fund 2014 Donor-Advised
BCF Sterling House Endowment Fund 2017 BCF Endowment Endowed
BCF Social Impact Measurement 2017 BCF Operating RenaissanceRe Charity Challenge 2014 Donor-Advised
Programme Endowed
BCF Social Policy Projects 2017 BCF Operating RenaissanceRe Charitable Fund 2014 Donor-Advised
Programme non-Endowed
Coalition for Community Activism 2017 Donor-Advised Williams Legacy Fund 2014 Donor-Advised
Project Fund non-Endowed Endowed
Charles E. and Lesley Marshall Family 2017 Donor-Advised BCF Planning Support 2013 BCF Operating
Fund for Football Endowed Programme
BCF Vital Signs 2016 BCF Operating BCF Key Capacity Building for 2013 Field of Interest
Programme Social Change Endowed
CEO Designated Fund 2016 Field of Interest national Dance Foundation of 2013 Donor-Advised
non-Endowed Bermuda Agency Fund Endowed
BCF Fiscal Sponsorships / Friends of 2016 Donor-Advised BCF Bermuda Civil Society IT Design 2013 BCF Operating
BCF Fiscal Sponsorships non-Endowed and Tech Platforms Programme
Bermuda Principles Foundation Fund 2016 Donor-Advised BCF Operating and Administration Fund 2013 BCF Operating
non-Endowed Programme
Irene Dale Memorial Fund 2016 Donor-Advised BCF Bermuda Youth Development 2013 Field of Interest
Endowed & Football Consortium Endowed
national Dance Foundation Archive 2016 Designated Bermuda High School PTA Excellence 2013 Agency Endowment
Project non-Endowed Prize Fund
Aspen Bermuda Fund 2015 Field of Interest O'Hara Family Fund 2013 Donor-Advised
non-Endowed Endowed
Bermuda Audubon Society Agency Fund 2015 Agency Endowment C V Zuill Family Fund 2013 Donor-Advised
BCF Technology Leader Study Tour Fund 2015 Field of Interest Endowed (Legacy)
non-Endowed Diversity Initiatives Fund 2013 Field of Interest
Toogood Family Fund 2015 Donor-Advised Endowed
Endowed Early Childhood Development Fund 2013 Field of Interest
CVZ Designated Gifts Fund 2015 Donor-Advised non-Endowed
non-Endowed Hemera Foundation Fund 2013 Donor-Advised
La Leche League Bermuda Agency Fund 2015 Donor-Advised non-Endowed
non-Endowed Quig Family Fund 2013 Donor-Advised
national Dance Foundation Programme 2015 Donor-Advised Endowed
Fund non-Endowed national Dance Foundation Designated 2013 Designated
TEDx Bermuda 2015 Donor-Advised Fund established by the O'Hara and Endowment
non-Endowed Kramer Families
Family Centre (The) Agency Fund 2015 Agency Endowment Durhager Family Fund 2013 Donor-Advised
Endowed
Family Centre (The) Designated Fund 2015 Designated
Endowment

12
 Get involved

IF YOU WANT TO BE A PART OF BCF…

Four easy steps to leave a lasting legacy Supporting Nonprofits — the Agency Fund

1. Consider your charitable interests We don’t just work with individual and family donors.
What are you passionate about? Performing arts? In fact, Bermuda Community Foundation manages
Helping children impacted by violence? Getting better endowment funds on behalf of more than eight charitable
health care on island? When you establish a Donor- agencies. A charitable agency endowment fund provides
Directed Endowment Fund (Donor Fund) at Bermuda for prudent capital growth coupled with a predictable
Community Foundation, you will have the flexibility to source of income, which is particularly helpful in years
support the charities and causes you care about most. where donations are down or government funding is
reduced.
2. Establish your fund
It’s easy to establish your own Donor Fund at Bermuda Charitable agency endowment funds represent a broad
Community Foundation. With a gift of $10,000 (or $2,500 spectrum of large and small organisations. Give us a call
to start), a personally-named fund can be set up in just a and find out how we can help support your organisation.
day or two. The fund’s capital is endowed and only the
income is granted out, so the fund keeps on giving, 1. PROFESSIOnAL AnD DIVERSIFIED InVESTMEnT
year after year. MAnAGEMEnT
2. SUPPORT FOR COMPLEX GIFTS
3. Grant from your fund 3. EFFICIEnT AnD EFFECTIVE
With a Donor Fund, you can have as little or as much 4. LOW COST-RECOVERY FEES
involvement as you want.You can support any Bermuda-
registered charity, or you can focus on a charitable cause (Adapted from the Vancouver Foundation with thanks)
and leave the decision making to our advisors who will
evaluate a number of projects on your behalf.

4. Plan for the future

Planning for the future is important, as your Donor
Fund is a lasting legacy that will continue to support the
community for generations.You can appoint a trusted
friend or family member as your successor fund advisor,
or ask Bermuda Community Foundation to carry out
your wishes in perpetuity.

13
 Our team

Thanks to all who have given time, services and funding. We look forward to continuing working with you.

BCF Board of Directors Advisors, Consultants & Contractors

Peter Durhager, Chair
Amanda Outerbridge, Communications Strategy Advisors
Michael Brace, Investment Sarah Cooke
Brian O’Hara, Ambassador Relations William Gray
Michael Schrum, Treasurer The Rt. Wor. Charles R. Gosling
nikkita Scott, Tech Platforms Cummings V. Zuill
Myra Virgil, Assistant Secretary
Auditors
BCF Staff / General Administration Support PwC Partner Scott Watson-Brown,
Myra Virgil, CEO & Managing Director PwC Manager nicolle Palle
Michelle Grant, Programme Associate and Senior Associate J. C. van niekerk

BCF Central Fund Contributors Finance & Audit

The Atlantic Philanthropies Pamela Williams, Accountant
Buchanan Charitable Fund
RenaissanceRe Editorial, Design & Communications Support
Bloomberg Philanthropies Brimstone Media Ltd.,Yabsta, Rhiannon Fox
Bridge Charitable Trust
XL Foundation Legal, Corporate Secretarial
Hemera Foundation & Regulatory Compliance Support
Meritus Trust Limited Peter Pearman, Director, CD&P
Michael & Vanessa Schrum Scott Davis & Laura Jane Mulligan, Codan
Brian & nancy O’Hara Corporate Services (Bermuda) Limited
Cummings Zuill KPMG (Bermuda)
Michael Brace & Julia Brace
Anonymous individual contributors Investment Committee & Advisory Support
Alexander Cutler, Orbis Investment Management Ltd.
Programme Support
Dr. Tamara Gathright Fritz, Strategic Evaluation We would also like to acknowledge the work and
Consulting – Vital Signs® Research Coordinator support of the Friends of BCF Board and Team
Sargasso Designs – Red Flags Programme
Mercedes Pringle, BCF intern, 2018 Myra Virgil, President
Robin Masters, Vice President
William “Bill” Holmes, Secretary
Peter Logie, Accountant
Sarah Cooke, Assistant Secretary
PwC (Americas), Tax Reporting
Michelle Grant, Administrator

14
 GIVE
Bermuda .org

LEGACY INVESTORS

Buchanan
Charitable Fund

LEGACY COMMITMENTS

Cummings Michael & Michael Brace Brian & Nancy

V. Zuill Vanessa Schrum & Julia Brace O’Hara

PROGRAMME SPONSORS & MAJOR ENDOWMENTS

Charles E. & Lesley

Marshall Fund for
Football

CONTRIBUTORS & MANAGED PROGRAMMES

Creating an enduring source of funds forever dedicated to the good of Bermuda

Get in touch: [email protected]

A community foundation is an independent grantmaking organisation
comprised of permanent and component funds established by many
donors to carry out their philanthropy for the broader interests and
benefit of local residents and nonprofits, and to simplify charitable giving.

www.bcf.bm

15
My sincere gratitude
for making the scholar-
ship for the Non-profit
Executive Certification
Town of
St. George’s
St.. George’s
St G e orge’s

programme possible.
Hamilton
H amilton

B ermuda
Bermuda
Although I started
Sandys
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P e mbroke

Vital Si
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Hamilton ®
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Warwick
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2017
2017
Southampton
Sou thampton

I realised through this

AREA: 20.5 SQ. MILES

course how important

it is to have the
knowledge required
Bermuda Vital Signs® 2017 1

to be successful in my
role as a leader in the
Third Sector. I am now I found the “want ad” We discussed the book
better equipped to in Saturday’s Royal again.The notes from
fulfill my responsibilities. Gazette for a Board the local discussion
I am deeply appreciative Member more than were very helpful.
of your financial interesting.That’s the Some members are
support, which allowed first time I have seen looking at ways to
me to become a foundation advertise invest more in the
certified. for a Board Member. local community.
—Nonprofit Leadership —Facebook post —Local book club member
programme participant on “Born on Third Base”

Thank you so much for Congratulations once I would like to

helping organise what again and well done on commend you on
has been a big success the production of Vital your successful public
for us. We would very Signs. It contains a awareness campaign on
much like to repeat wealth of information. Bermuda’s problems
the idea next year! This should generate with income inequality
—Local business client very interesting and lack of socially
on annual Christmas conversations in the inclusive growth.
giving programme community. —Local researcher
—Community leader