Venable Foundation Annual Report - FY2020

The challenges of 2020 came on quickly and tested all of us in previously unimaginable ways. The COVID-19 pandemic transformed the ways we connect with one another and often strained our nonprofit partners’ abilities to deliver critical services to those most in need. For many organizations the abrupt change in being able to host programs and events brought tremendous loss of fundraising income, and with it, operational and financial uncertainty. Emergency services across the country – and around the world – are severely taxed by the sheer abundance of need; agencies and organizations are working hard to address homeless services, food distribution, and much more. Like many of our peer funding institutions, the Venable Foundation recognizes the immense need across so many funding areas, and, as a result, we allocated $1 million to address food insecurity issues. A ripple effect of the pandemic has been the toll on young people, many of whom made a nearly instantaneous shift to virtual learning and face a deepening digital divide related to basic access to appropriate technology. Additionally, our artists and arts organizations were paralyzed by the sharp decline in funding available to them. With so much money redirected to address the explosive needs associated with health, safety, and welfare this past year, our creative communities are suffering. In the wake of the challenges now faced by nonprofit organizations of all focus areas, the Venable Foundation made the decision to continue providing operating and project support grants. This commitment ensures that our grantee partners have a stable source of income to continue the important work they do to create healthy communities. The vast majority of our funds were structured to provide maximum At Venable, we continue to seek meaningful ways to connect with one another and with those in the communities in which we live and work. One way of making those connections is through the work of the Venable Foundation, which—in 2020— played a critical role in allowing the firm to pursue deeper engagement with those making an impact in areas of great need. flexibility for the recipient to use where the needs are the greatest. To address this dramatic increase in need and flexibility of funds, the total dollar spending in Foundation grant money increased by 26% in 2020, and the percentage of new grantees increased by 14%. 2020 also saw a marked shift in the advancement of racial justice in the United States. For centuries, the burdens of institutional racism and the impact of disparate laws and policies have contributed to a fundamental racial inequality. While we realize we cannot quickly undo the damage of this generational oppression, the Foundation knows that supporting the organizations doing the hard work of promoting justice, equity, and healing is the imperative. In 2020, we provided $200,000 to nonprofits advancing racial justice issues, and we will continue to improve upon the ways in which our firm, our professionals, and the people in our communities engage in social justice matters. In addition to grantmaking, the firm places a high value on community involvement in other ways. Through client webinars and a robust portfolio of pro bono work, we bring legal counsel and representation that makes a tangible difference to those in need. We hope we have not only passed the difficult tests that came our way in 2020, but that we also grew stronger, more resilient, and more concerned with the well-being of our friends and neighbors. Looking ahead, we will continue to identify ways to make a meaningful impact in our communities and will proudly support those nonprofit organizations that persist in doing their good work. Lindsay B. Meyer President, Venable Foundation