Collaboration is key to Old National Bank Foundation’s success
By Janet Baas
Old National Bank Foundation President
As 2016 draws to a close, the Old National Bank Foundation is poised to conclude our 10th year of helping non-profit organizations make a difference in their communities. During the past decade, our Foundation has awarded more than $10 million to help fund 1,500+ partnerships.
Along the way, our approach to executing community partnerships has continued to evolve. One key part of this evolution is an increasing collaboration between the Old National Bank Foundation and the members of the Old National Community Development Banking team, whose primary mission is to address the housing, economic development, and financial education needs of low- and moderate-income (LMI) individuals and families.
At Old National, we believe this synergistic relationship between the Foundation and Community Development allows us to meet the needs of our communities in a more comprehensive and nimble way. In this blog, I’d like to share some details with you about this collaborative approach and why we think it makes our community partners – and those they serve – even stronger.
The 80% challenge
While revitalizing neighborhoods and developing communities has been a funding priority of our Foundation since May 2006, our current focus on locking arms with Community Development can be traced back to a 2014 gathering of our Community & Social Responsibility Board Committee. During this meeting, Deaconess Health System CEO and Old National Board Member Linda White challenged us to strive for an aggressive goal: At least 80% of Old National Bank Foundation grant funds, White suggested, should go toward initiatives that are CRA-eligible (meaning directly aligned with the mission of our Community Development team).
In 2014, 77% of the initiatives funded by the Old National Bank Foundation met this criteria. In 2015, that percentage rose to 88%; and it appears we will again be at 88% for 2016.
Our Board member’s challenge to those of us involved with the Foundation illustrates the value of establishing aggressive, yet achievable, standards. By setting a measurable goal, we made collaboration with Community Development a clear and direct Foundation policy.
We’re teammates, literally and figuratively
Another important factor in this collaborative equation is the fact that Old National’s Community Development and Foundation teams have been part of the same Community & Social Responsibility department since 2011. As Foundation President, my office is located directly next to our Community Development Director, Gary Roan. Also, members of our two teams share a common office environment, making it very easy to exchange ideas and discuss common goals.
Even though, prior to 2001, we had always maintained a relationship with Community Development and discussed ways to collaborate for the betterment of our partners and communities, we lacked the close connection and strong understanding of one another’s mission and vision that we enjoy today.
Additionally, two members of our Community Development team – one headquartered in Southern Indiana and the other in Indianapolis – serve on our Foundation Board of Directors. Their Community Development expertise and guidance are invaluable, and their presence on the Board gives them a much broader understanding of how the Foundation works.
This strong collaboration works both ways
Obviously this blog is written from a Foundation perspective, and I can cite numerous examples of Foundation partnerships that led to Community Development opportunities. But the fact is, our Community Development team also comes to us with solid Foundation partnership prospects that have surfaced through their discussions with clients and community leaders.
In the end, how a particular relationship gets started is inconsequential. What matters is that we are working together as one team to provide each partner with multiple resources. Depending on the partner, this could include Foundation grant funding, Community Development resources, in-kind financial education resources, in-kind electronic equipment donations, and associate volunteerism.
Here are just a few examples of this cross-departmental collaboration at work:
- The Old National Bank Foundation has given over $608,000 to CRA-eligible Habitat initiatives over the past decade, while at the same time 527 of our associates have logged over 6,200 volunteer hours with the organization.
- The Community Action Program of Evansville and Vanderburgh County (CAPE) received Old National Bank Foundation funds to build three CRA-eligible rental homes in rural Oakland City, Ind., and our Community Development team also worked with CAPE to provide in-kind financial education resources and training.
- In Owensboro, Ky., the Foundation provided funds to OASIS, Inc. to provide shelter, support and advocacy for families affected by domestic violence. This CRA-eligible initiative also benefitted from more than $11,000 in-kind computer equipment in lieu of a grant donation.
There are many other examples like these, each of which helps to paint an overall picture of Foundation and Community Development synergy. Yet it’s important to note that we did not arrive here overnight. The past decade for our Foundation has been a constant learning and growing process. We continue to search, every day, for better ways to work with our partners in Community Development for the benefit of our communities measuring impact every step of the way.
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