Kathy Durante Executive Director, OceanFirst Foundation Julie Holland Executive Director, Columbia Bank Foundation In the Spotlight: PHILANTHROPIC COMMITTEE Q: What do you see as the primary responsibilities of a foundation head, and how do you prioritize them? DURANTE: To support our Board of Directors in carrying out the mission of our Foundation which is to empower nonprofits to think bigger, solve more problems, and make life better in the neighborhoods served by OceanFirst Bank. To do so, our team partners with local community organizations and schools, providing the resources and expertise to help put great ideas into action. My role day-to-day is to ensure that our planning, grantmaking, volunteer, community engagement, learning, and marketing initiatives are best in class. HOLLAND: As the Executive Director of the Columbia Bank Foundation, it is necessary to prioritize our mission of commitment to serving the needs of our local communities. As we concentrate on fulfilling our mission, I prioritize our responsibilities with yearly goals that measure the impact our support provides. Specifically, the primary responsibilities as the head of the Foundation include: ɨ Identify support funding for community- based nonprofits, civic, and business charitable organizations and their initiatives that meet the necessary Foundation criteria. ɨ Ensure that funds disbursed to nonprofits and organizations are used correctly to provide meaningful change in the community. ɨ Act as the liaison between nonprofits and the Foundation Board, providing insights to stakeholders regarding how grants will be used to positively influence the community. ɨ Encourage ongoing collaboration with our nonprofit partners to determine solutions that support programs that fulfill their mission. ɨ Establish strategic plans to disburse appropriate charitable funds throughout the year with discernment on what opportunities will provide significant impact to the community. Serve as a positive influence and inspiration to Columbia Bank customers and employees through demonstration of commitment to volunteer and charitable donations. Q: How do you approach strategic planning and goal setting for a foundation? DURANTE: In prior years, we’ve utilized strategic planning consultants to provide guidance and evaluation. However, in more recent years, our Board continually assesses our impact throughout the year with quarterly reporting in key areas. The staff team at OceanFirst Foundation also works closely with the Board and I to set goals and effectively execute them. HOLLAND: As one of the largest private foundations in New Jersey, the Columbia Bank Foundation Board annually constructs a budget that determines anticipated disbursements based on our yearly goal of impact and historical data of contributions. Our team works proactively to plan specified funds that benefit low-and-moderate income individuals relating to grants, sponsorships, our employee sponsored giving program, and direct charitable contributions. For each of our programs, we create allocation goals that correlate to one of our seven major focus areas of support; affordable housing, community investment and economic development, environmental sustainability, food insecurity, health and human services, and the arts. During our support requests review, we strategically select organizations whose mission and objective are consistent with the causes we support within the communities we serve. Q: How do you assess the effectiveness and impact of philanthropic investments or grants? DURANTE: It varies depending on the specific grant program, but we try to keep it as simple as possible to ensure that our partners are not overburdened by process and paperwork. We offer most grants as General Operating FIRST AND FOREMOST, YOU LISTEN TO THOSE DOING HARD WORK IN THE COMMUNITY. THAT MIGHT HAPPEN AT A VISIT TO THEIR ORGANIZATION TO SEE THE IMPACT FIRST-HAND OR WHEN WE MEET WITH THEIR TEAM MEMBERS AT COMMUNITY EVENTS OR SPECIAL PROJECTS. J KATHY DURANTE, EXECUTIVE DIRECTOR, OCEANFIRST FOUNDATION 26 In the spotlight: philanthropic Committee
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