Page 21 - Dec 2021 Report

30 years - Our Journey Continues Grant Program Committee meeting minutes (draft)
December 4, 2021 at 9:00 a.m.
Members Present: Bea Awoniyi, Sherry Salway Black (via Zoom), David Blaikie, William Corwin, I. King Jordan, Jr., Richard Krause, Robert Krause (non-voting), Malcolm Macleod, Mike Miller
Others Present: Director Hugh Brown, Director Emeritus Diane Johnson, Lady Hereford, Sharon Wood and Angie Francalancia
Malcolm chaired the meeting.
1. September 2021 meeting minutes
The minutes of the Committee’s September 2021 meeting were approved as circulated.
2. Business arising from the minutes
A question was asked about the CAPE Fund, which reached its final term on November 8, 2021. This $1.5 million program related investment was structured as a loan, for the convenience of CAPE. Program related investments are counted as grants. To wind-down the fund, JSF executed a settlement letter to forgive grant dollars and interest associated with the loan agreement, which totaled approximately $1.1 million. A breakdown of the final figures was requested and will be published in the monthly report.
3. Discretionary and Matching grants
A. The following Director Discretionary Grants were unanimously approved:
• Oakville Community Foundation
• Thunder Bay Community Foundation • Florida Baptist Children’s Home
$15,000 $15,000 $10,000
B. The following Matching grants were unanimously approved:
• Oakville Community Foundation
• First Peoples Fund
• Florida Baptist Children’s Home
• Education Foundation of Alachua County – Take Stock in Children
• American Indigenous Business Leaders
• East Stroudsburg University Foundation
• Flagler College
• National Indian Child Welfare Association
4. Letters of Inquiry
$ 7,500 $ 5,000 $ 5,000
$ 1,000 $ 500 $ 250 $ 250 $ 250
A list of LOIs and responses had been circulated. A discussion took place about Embry-Riddle Aeronautical University, which had submitted 3 LOIs since 2019. All were declined. A question was raised whether this could be a school worthy of an investment as there are many students in the federal Upward Bound program who aspire to attend Embry-Riddle. During a brief discussion, it was determined that this is an expensive private school where JSF dollars potentially could have a smaller impact than at other institutions in the Foundation’s portfolio.
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