Page 8 - 2019-2020 HVAF Annual Report

Donor Recognition HVAF RECEIVES $5 MILLION FROM LILLY ENDOWMENT, INC.
In December of 2018, HVAF received a $5 Million financial sustainability grant from Lilly Endowment, Inc. This grant allows us to make one-time, time limited, and incremental investments designed to increase revenues, reduce operating costs, mitigate fiscal risk, and create an endowment that would ensure future financial stability.
Funds placed in the endowment ($4.25M – 85%), will be guided by a robust set of policies currently being developed by our designated investment committee. Revenue generated will be used in perpetuity for future incremental, time-limited, strategic investments.
A contingency cash reserve will be established ($400K – 8%) to mitigate the fiscal risks of short- term cash-flow management issues.
Operating costs reduction ($86K – 1.7%) of about $32K/year will be made through technology improvements and enhancements at our properties. We are making energy efficient upgrades to our lighting, windows, and HVAC units.
An investment towards increasing future revenues ($260K – 5.2%) will be made by adding an additional development staff person for a graduated 3 year onboarding period ($110K); upgrading development technology, equipment, and software ($25K);
8 developing donor recognition strategies ($10K); and conducting a statewide donor acquisition
Pictured, from left to right: Lilly Endowment, Inc.'s Program Director for Community Development Chuck Preston, HVAF Chairman Chuck Rainey, HVAF President & CEO Brian Copes, and Chuck Preston's assistant, Deitra Dunne
campaign ($115K).