Tampa Bay Happenings — Economic Club of Tampa

Marlene Spalten, Community Foundation of Tampa Bay and Dick Reeves, Economic Club of Tampa Member — Marlene Spalten & Dick Reeves, the Community Foundation Tampa Bay, Economic Club of Tampa Member

Speaker: Mrs. Marlene Spalten
President and CEO, Community Foundation of Tampa Bay
How to be creative when it comes to Philanthropy — Community Foundation of Tampa Bay Spalten commented, “A strong community has strong philanthropy.”

The Community Foundation of Tampa Bay’s impact is magnified through collaboration; it is a consortium of philanthropists. There are 700 community foundations nationwide and Tampa Bay’s foundation is one of the youngest and one of the largest. There are 27 community foundations in Florida and Tampa Bay’s community foundation serves Hillsborough County, Pasco County, Pinellas County, and Hernando County. They have 175 million in assets and their goal is $300 million in assets. It was created in 1990 by George and Debbie Baxter and one of our own members with significantly involved in its creation — Dick Reeves.

Ms. Spalten began her talk commenting that “philanthropy that is responsive and targeted — we call creative philanthropy.”

Creative Philanthropy has six qualities, to:

solving problems not symptons
offering sustainable impact – beyond one grant
taking the long view
improving problem-solving
providing credible research
sharing with others to broaden impact

Change requires knowledge, ideas and political will — not necessarily money. The foundation uses its asset strengths to provide large grants to solve problems, they join together donors for sustainable impact, they are perpetuated by endowments and hold a long view, and they share lessons learned.

They have three avenues for what they do:

donor advised funds
family foundations-allows forward no administrative burden
community endowments with annual distributions unrestricted or restricted

The investment funds for 2012 earned 14.7%.

Questions and Answers

Are you similar to the United Way and/or what is the difference?

We are different because the United Way has a different model. They work directly with corporations and direct-deduct donations from employee paychecks.

Does your website have a list of causes that you support?

Yes. Although we are redesigning our website and you can find a list or annual report with the information.

Does the money donated have to stay in the community or can a donor support of nationwide or worldwide cause with their donations?

A donor can give to other geographic areas if they choose by specifying.

Many community problems fall back on the public sector to solve those problems — do you consider partnering with the public sector?

Yes – an example is Tampa Heights project. We supported them with a letter in matching funds for an application for a federal grant.

How much of the Republican National Convention surplus money did you receive?

We have expressed our firm belief that the excess money should be given to the Community Foundation which can distribute the funds throughout the entire geographic area.

What is the percentage of endowment funds versus donor advised funds?

50/50

Important upcoming event: Give Day Tampa Bay
May 6, 2014

The goal is to raise $1 million. The day was developed as a day to shine a light on philanthropy in the Tampa Bay Area. Any nonprofit that signs up can receive matched donations and money, plus there is a prize pool of funds that the Community Foundation of Tampa Bay is providing in the amount of $350,000. Go here to learn more about the event: http://www.givedaytampabay.org/

About the Economic Club of Tampa http://www.econclubtampa.org/
The Economic Club of Tampa provides a dynamic forum for business, professional, elected and community leaders to identify and discuss economic, social and political issues. The Club works to identify and assist upcoming young leaders as the torch passes from one generation to the next.