Funds and Grants
Cooperative Development Foundation
Annual Report 2020
Building a Cooperative Future
Our Mission: CDF promotes and develops cooperatives to improve economic opportunities for all
LEADERSHIP MESSAGE
Leslie Mead
Executive Director
Rich Larochelle
Board Chair
2020 was a year when CDF demonstrated its value.
In a year dominated by a global pandemic, when other foundations and nonprofits cut back, CDF increased its grantmaking to meet the needs of cooperatives and their members who faced a world turned upside down by illness, job loss, shuttered schools and businesses, and uncertainty. CDF’s capacity to accomplish so much in 2020 was a direct result of the many years of prudent and principled oversight of the Cooperative Development Foundation’s assets and the support we enjoy from the co-op community.
The Disaster Recovery Fund helps cooperatives and cooperators get back on their feet after disasters or other emergency hardship situations.
Fundraising and Events
The Howard Bowers Fund for food cooperatives supports professional growth and development of co-op staff and board members with grants for scholarships, event sponsorships, program development and training.
The Cooperative Education Fund supports cooperative education, development and training, event sponsorships and conference scholarships.
The Cooperative Development Fund supports cooperative development, research, and technical assistance with particular emphasis on cooperatives serving the needs of seniors, providing affordable housing, and building resilience in the developing world.
Four remarkable cooperative leaders were inducted into the Cooperative Hall of Fame at a virtual ceremony on October 8, 2020.
Nearly 500 co-ops and cooperators from coast to coast and across the pond participated in the Virtual Co-op 5k between September 29 through October 2 raising over $65,000 to support cooperative development nationwide.
GRANTS AWARDED
The Nationwide Foundation, a private foundation supported by donations from Nationwide companies, showed its continued commitment to building a more inclusive economy through cooperatives with a $60,000 grant to the Cooperative Development Foundation. This generous grant was used to support CDF's operations as well as NCBA CLUSA's 2020 Cooperative IMPACT Conference and Council of Cooperative Economists.
THANK YOU DONORS
CDF is grateful for the support of more than 450 individuals and organizations. The following donors contributed more than $1,000 in 2020.
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ACDI/VOCA
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American Association of Credit Union Leagues
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Basin Electric Power Cooperative
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BriarPatch Food Co-op
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Capital Impact Partners
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Celeste Wallwork
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CHS, Inc.
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Citi Foundation
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CoBank
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CooperationWorks!
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Credit Union National Association
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CSI Support and Development Service
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CUNA Mutual Group
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CUNY School of Law
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Dairy Farmers of America
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DC Credit Union
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Delta Community Credit Union
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Democracy at Work Institute
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Ellen Quinn
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Emmet, Marvin & Martin LLP
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Farm Credit Council
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Federation of Southern Cooperatives
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Georgia Ann Bond
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Georgia United Credit Union
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Growmark Inc.
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Howard Brodsky and Joan Talarico
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IFFCO
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Jim Polk
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Judy Zeiwacz
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League of Southeastern Credit Unions & Affiliates
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Lisa Russell
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Loeb & Loeb
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Margaret Bau
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Martin Lowery
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Membersfirst Credit Union
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Mississippi Association of Cooperatives
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National Co+op Grocers
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National Cooperative Bank
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National Credit Union Foundation
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National Information Solutions Cooperative
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National Rural Electric Cooperative Association
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National Rural Utilities Cooperative Finance Corporation
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Nationwide
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Neighboring Food Co-op Association
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Ohio Credit Union League
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Oryana Food Cooperative
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Peach State Federal Credit Union
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Ralph K. Morris Foundation
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Rich and Linda Larochelle
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SchoolsFirst Federal Credit Union
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Scott Peterson
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Shared Capital Cooperative
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Stephen Snyder
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The ICA Group
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U.S. Overseas Cooperative Development Council
YOUR SUPPORT IN ACTION
Joe Garrison, Scorcher Artisan Cooperative
It feels great to have another cooperative agency covering our back during these challenging times. We're putting the grant money to work by keeping bakers in production and fresh bread on the shelf at our neighboring co-op grocery despite losing three-quarters of our income due to COVID-19.
Robbie Markus, Evanston Development Co-op
We are grateful for your support of our co-op and cooperatives across the nation during this public health emergency. With your leadership, we are optimistic about the future of an equitable, sustainable solidarity economy in the United States. Thank you!
Sabrina Smith, Heart is Home Cooperative Care
We are using the grant to purchase much needed PPE and provide financial support to all the caregivers that lost hours during the past two months. CDF has given the boost Heart is Home Cooperative Care needed to help navigate through these uncharted times.
FINANCIAL STATEMENT
CDF without Donor Restrictions
2020
2019
Support and Revenue
Contributions and Grants
87,637
126,790
Government Contracts
213,264
404,291
Special Events, Net Expenses
285,715
280,420
Investment Income/Loss
226,408
135,537
In-kind Contribution
10,000
10,000
Net Assets Released from Restrictions
586,733
684,629
Total Support and Revenue
1,409,757
1,641,667
Expenses
Program
1,657,887
1,320,968
Fundraising
101,021
124,757
Management and General
142,896
172,982
Total Expenses
1,901,804
1,618,707
Net Income
(492,047)
22,960
CDF with Donor Restrictions
2020
2019
Support and Revenue
Contributions and Grants
117,887
215,692
Investment Income/Loss
800,326
815,908
Loan Interest
6,605
6,567
Net Assets Released from Restrictions
(586,733)
(684,629)
Total Support and Revenue
338,085
353,538
Expenses
-
-
Net Income
338,085
353,538
All CDF
2020
2019
Support and Revenue
1,747,842
1,995,205
Expenses
1,901,804
1,618,707
Net Income
(153,962)
376,498
Reserves
2020
2019
Without Donor Restrictions (Beginning)
4,213,525
4,190,565
Without Donor Restrictions (Ending)
3,721,478
4,213,525
With Donor Restrictions - Purpose Restrictions (Beginning)
5,989,547
5,636,009
With Donor Restrictions - Purpose Restrictions (Ending)
6,327,632
5,989,547
With Donor Restrictions - Perpetual in Nature (Beginning)
381,151
381,151
With Donor Restrictions - Perpetual in Nature (Ending)
381,151
381,151
Total Net Assets, Beginning of Year
10,584,223
10,207,725
Total Net Assets, End of Year
10,430,261
10,584,223
Meet The Board
Larry Blanchard
CUNA Mutual Group
Cornelius Blanding
Federation of Southern Cooperatives/LAF
Devin Fuhrman
Nationwide
Christina Jennings
Shared Capital Cooperative
Rich Larochelle, Chair
National Rural Utilities Cooperative Finance Corporation, Retired
Charles Snyder
National Cooperative Bank
Linda Tank
CHS, Inc.
Deborah Trocha
Indiana Cooperative Development Center
Judy Ziewacz
NCBA CLUSA, Retired
Meet Our Team
Leslie Mead
Executive Director
Kirstie Boyette
Fundraising and Funds Manager
Minna Jia
Senior Financial Project Analyst