GOLD2023

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Building Community ~ Enriching Lives Together

aka CFHC   |   Bel Air, MD   |  www.cfharfordcounty.org
GuideStar Charity Check

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

EIN: 01-0880770


Mission

We are committed to promoting and increasing philanthropy by building and managing permanent endowments and gifts to meet the present and emerging needs of Harford County and its nonprofit community.

Ruling year info

2007

Executive Director

Ms. Jennifer Farrell

Main address

P.O. Box 612

Bel Air, MD 21014 USA

Show more contact info

EIN

01-0880770

Subject area info

Foundations

Human services

Population served info

Adults

NTEE code info

Community Foundations (T31)

Fund Raising and/or Fund Distribution (P12)

What we aim to solve

SOURCE: Self-reported by organization

We are committed to promoting and increasing philanthropy by building and managing permanent endowments and gifts to meet the present and emerging needs of Harford County and its nonprofit community.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

General Purpose

We are a nonprofit philanthropic organization whose mission is to meet the changing needs and interests of the community for the benefit of Harford County residents. Donations to the foundation are used to support the quality of life in Harford County. Donors may contribute to a specific area of interest, a specific fund, or to provide support for “best mission use.” All donations stay local. The ability for multiple donors to aggregate donations for more impact is the very heart of community foundations, thus making a big difference with any contribution.

Population(s) Served
Adults

Over 900 community foundations exist foundations exist nationwide; all for the same purpose-to make a difference in the community they serve. These organizations meet the National Standards for Community Foundations and work to plan for the long-term and emerging needs of their community. They provide grants to a wide variety of non-profit organizations. They promote philanthropy at its best and encourage public/private partnerships to improve the quality of life of the community they live in.

Population(s) Served
Adults

Since 2010, the Community Foundation has been the leading source for post-secondary scholarship funding in Harford County. Our program supports many areas of study, with scholarships funded by generous donors who believe in the value of education.

Population(s) Served
Adults

Named for the year in which Harford County was founded, the 1773 Legacy Society was created to recognize those individuals whose estate planning includes a gift to the Community Foundation of Harford County. Often called the ultimate gift, these very special bequests will be the final charitable gifts from the following individuals, yet their legacy lives on through the fund created at CFHC:

Population(s) Served
Adults

Where we work

Accreditations

Council on Foundations Accredited

National Standards for U.S. Community Foundations 2023

Awards

Compliance with National Standards 2023

Council on foundations, National Standards

Affiliations & memberships

Maryland Community Foundations Association 2023

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

MISSION: The Community Foundation of Harford County (CFHC) is a 501(c)3 non-profit foundation that is committed to promoting and increasing philanthropy by building and managing permanent endowments and gifts to meet the present and emerging needs of Harford County and its nonprofit community.

INTRODUCTION: Founded in 2007, the CFHC exists as a means for local citizens to make a difference in their community, managing funds to ensure that every charitable dollar contributed generates the greatest possible impact over an extended time. The funds represent the varied interests and objectives of their donors, matching them with like-minded charities in the community. Contributions made are used to build permanently endowed funds for philanthropic purposes and the income generated by these endowments is used to make grants to local nonprofit organizations. To fund these initiatives, a consistent revenue stream coupled with a strong investment policy is needed.

Goal 1: Serve as a credible and reliable steward of charitable gifts in order to build funds and permanent endowments for future generations.

CFHC connects donors to the causes they care most about and helps them build permanent legacies for the community they love.

Goal 2: Strengthen CFHC’s organizational capacity and operational efficiency.

CFHC requires an active and diverse Board of Directors, knowledgeable staff, consistent financial support, and streamlined administrative processes.

Goal 3: Ensure a stable and growing base of operational financial support.

CFHC works to build a diverse network of consistent revenue streams, ensuring that all contributions are used wisely for mission support.

Goal 4: Increase public awareness of CFHC, its mission, services, and impact.

CFHC strives to enhance its profile in the community to attract new donors, increase the holdings of component funds, and create lasting impact.

Goal 5: Create long-term sustainable impact for the community through grant making.

CFHC builds funds for philanthropic purposes and carries out donor intent by making charitable grants to local nonprofit organizations and scholarships.

We are a nonprofit philanthropic organization whose mission is to meet the changing needs and interests of the community for the benefit of Harford County residents. Donations to the foundation are used to support the quality of life in Harford County. Donors may contribute to a specific area of interest, a specific fund, or to provide support for “best mission use.” All donations stay local. The ability for multiple donors to aggregate donations for more impact is the very heart of community foundations, thus making a big difference with any contribution.

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

4.64

Average of 70.39 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

11.2

Average of 7.9 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

12%

Average of 12% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of COMMUNITY FOUNDATION OF HARFORD COUNTY INC’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $13,976 $66,660 -$95,462 $89,108 $3,154
As % of expenses 5.5% 12.7% -29.2% 30.3% 1.2%
Unrestricted surplus (deficit) after depreciation $13,976 $66,660 -$95,462 $89,108 $3,154
As % of expenses 5.5% 12.7% -29.2% 30.3% 1.2%
Revenue composition info
Total revenue (unrestricted & restricted) $605,756 $586,221 $552,992 $714,505 $869,852
Total revenue, % change over prior year 24.7% -3.2% -5.7% 29.2% 21.7%
Program services revenue 0.0% 0.0% 0.0% 0.9% 0.8%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 10.3% 12.2% 39.0% 3.4% 13.1%
Government grants 0.0% 4.3% 1.8% 10.4% 1.1%
All other grants and contributions 90.8% 84.8% 59.2% 77.8% 85.2%
Other revenue -1.1% -1.2% 0.0% 7.5% -0.3%
Expense composition info
Total expenses before depreciation $255,518 $526,709 $327,038 $294,001 $263,750
Total expenses, % change over prior year 49.1% 106.1% -37.9% -10.1% -10.3%
Personnel 32.8% 13.9% 37.0% 37.0% 42.2%
Professional fees 5.0% 9.7% 10.8% 12.4% 13.7%
Occupancy 0.0% 0.0% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 49.4% 69.7% 40.7% 43.9% 35.1%
All other expenses 12.9% 6.7% 11.6% 6.7% 9.0%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $255,518 $526,709 $327,038 $294,001 $263,750
One month of savings $21,293 $43,892 $27,253 $24,500 $21,979
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $276,811 $570,601 $354,291 $318,501 $285,729

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 18.4 4.8 9.4 10.5 11.2
Months of cash and investments 82.7 41.2 70.8 118.7 138.8
Months of estimated liquid unrestricted net assets 9.6 6.2 6.5 10.8 12.2
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $391,301 $212,231 $256,278 $256,824 $246,284
Investments $1,368,934 $1,596,765 $1,673,605 $2,650,566 $2,803,720
Receivables $0 $0 $0 $0 $0
Gross land, buildings, equipment (LBE) $1,812 $1,812 $1,812 $1,812 $0
Accumulated depreciation (as a % of LBE) 100.0% 100.0% 100.0% 100.0% 0.0%
Liabilities (as a % of assets) 1.4% 1.3% 23.9% 25.8% 21.6%
Unrestricted net assets $205,400 $272,060 $176,598 $265,706 $268,860
Temporarily restricted net assets $494,886 $347,082 N/A N/A N/A
Permanently restricted net assets $1,036,418 $1,177,588 N/A N/A N/A
Total restricted net assets $1,531,304 $1,524,670 $1,297,299 $1,892,102 $2,124,542
Total net assets $1,736,704 $1,796,730 $1,473,897 $2,157,808 $2,393,402

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Executive Director

Ms. Jennifer Farrell

Number of employees

Source: IRS Form 990

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

COMMUNITY FOUNDATION OF HARFORD COUNTY INC

Board of directors
as of 03/28/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mr. Michael Allen

Harford Bank

Term: 2023 - 2021

Jayne Klein

Klein's ShopRite

Scott Elliott

Harford Bank

Michael Allen

Harford Bank

Mary-Dulaney James

Partner, Law Offices of Mary-Dulany James

Joseph Boddiford, III

Morgan Stanley

Frederick Merchant

Retired Community Leader

Alex Allman

Offit Kurman

Joseph Ayler

Tar Heel Construction Group

Gregory Bowser

Safe Harbor Retirement Planners

Gilbert Kennedy

Har-co Credit Union

Stephanie McGuire

Ellin & Tucker

Carmen Mirabile

Freedom Federal Credit Union

Gregory Repas

McCormick & Company

Deborah Turner

DMT Investments

Eric McLauchlin

PK Law

James Welch

BCV Realty

Cheryl Brown

State of Maryland Retired

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 11/29/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Gay, Lesbian, Bisexual, or other sexual orientations in the LGBTQIA+ community
Disability status
Decline to state

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.