
A Letter From Our President
Daniel Williams
“Power without love is reckless and abusive, and love without power is sentimental and anemic. Power at its best is love implementing the demands of justice, and justice at its best is power correcting everything that stands against love.” ~ Dr. Martin Luther King, Jr.
These words resonate deeply with me as we continue to walk clumsily toward our commitment to justice, compassion, and transformation throughout our community. This journey has brought us face-to-face with the urgent need for connection, both among individuals and within our broader systems of support.
Our three community investment strategies advance the Foundation’s mission and are supported by our Guiding Principles to cumulatively move the community, sector, and Foundation closer to the vision where the inherent brilliance of our community is embraced, and efforts are focused on creating conditions where all can participate, grow, and thrive.
The stories within this annual report illustrate the Steelcase Foundation's holistic approach to fostering systemic change and empowering communities.
The 2023 Annual Report celebrates the interconnectedness of our community and the programs, people, and partnerships needed to create a thriving and inclusive ecosystem for children and families. Through strategic investments spanning individual and grassroots organizations, to systems-level policy work we’re seeking support families now and into the future and sharing our learnings to move the philanthropic sector forward for lasting change.
Supporting the Nonprofit Ecosystem
School-Centered Programming and Supports
Increasing Access to Opportunities and Experiences for Youth
Holistic Family Supports
Total Giving
In 2023, the Steelcaes Foundation contributed over $7.2 million to support efforts to increase access to quality public education and cultivate communities that create conditions for children and families to thrive.
$7,264,664
($7,114,643.92 future)
Grantmaking
$6,209,610.45
($7,036,369.55 future)
Matching Gifts
$498,702.93
Operations
$957,323.75
($78,274.37 future)
Total Grantmaking With Matching Gifts
$6,209,610.45
($7,036,369.55 future)
Early-Stage
$400,000
($600,000 future)
Operations, Programming, Pilots, and Projects (OP3)
$5,040,010.45
($5,836,369.55 future)
Rapid Response + Emerging Action
$200,000
($55,000 future)
Systemic Change + Movement Building
$569,600
($545,000 future)
Total Gift Matching
$498,702.93
Statements of Financial Position
Year ended Dec. 31, 2023
Assets | 2023 | 2022 |
---|---|---|
Cash & Cash Equivalents | $2,759,645 | $3,815,351 |
Investments | $123,249,063 | $119,317,023 |
Pending Trade Receivables | $113,084 | $96,768 |
Fixed Assets | $42,621 | – |
Total Assets | $126,164,413 | $123,229,142 |
Liabilities & Net Assets | 2023 | 2022 |
---|---|---|
Liabilities: Grants Payable | $7,264,644 | $6,578,420 |
Liabilities: Pending Trade Tables | – | $5,893 |
Net Assets: Unrestricted | $118,899,769 | $116,644,829 |
Total Liabilities & Net Assets | $126,164,413 | $123,229,142 |
Statements of Activities
Year ended Dec. 31, 2023
Revenues 2023 2022
Contributions $261,000 $11,000
In-Kind Contributions $695,043 $689,162
Investment Return, Net $9,820,601 ($14,559,597)
Total Revenues $10,776,644 ($13,859,435)
Expenses | 2023 | 2022 |
---|---|---|
Grants & Matching Gifts | $7,665,637 | $9,978,132 |
Management & General | $856,067 | $939,162 |
Total Expenses | $8,521,704 | $10,917,294 |
Net Assets Without Donor Restrictions, Beginning of Year | $16,644,829 | $141,421,558 |
Nest Assets Without Donor Restrictions, End of Year | $118,899,769 | $116,644,829 |
Changes in Net Assets Without Donor Restrictions | $2,254,940 | ($24,776,729) |