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.

Early-Stage Operations + Planning Grants

$400,000 ($600,000)

Operations, Programming, Pilots and Projects (OP3)

$5,040,010.45 ($5,836,369.55)

Rapid Response + Emerging Action Grants

$200,000 ($55,000 future)

Systemic Change + Movement Building Grants

$569,600 ($545,000)

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

For nearly 30 years, the Steelcase Foundation has provided a 1:1 match for gifts of US-based Steelcase employees, retirees and directors to qualified nonprofits up to $10,000 annually, amplifying our efforts to support communities and the causes they care most about.

$498,702.93

2023 Operations

$957,323.75

($78,274.37 future)

Statements of Financial Position

Year ended Dec. 31, 2023

Assets20232022
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 Assets20232022
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

Revenues20232022
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)

Expenses20232022
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)