Q: What do you see as the primary responsibilities of a foundation head, and how do you prioritize them?
Durante: To support our Board of Directors in carrying out the mission of our Foundation which is to empower nonprofits to think bigger, solve more problems, and make life better in the neighborhoods served by OceanFirst Bank. To do so, our team partners with local community organizations and schools, providing the resources and expertise to help put great ideas into action. My role day-to-day is to ensure that our planning, grantmaking, volunteer, community engagement, learning, and marketing initiatives are best in class.
Holland: As the Executive Director of the Columbia Bank Foundation, it is necessary to prioritize our mission of commitment to serving the needs of our local communities. As we concentrate on fulfilling our mission, I prioritize our responsibilities with yearly goals that measure the impact our support provides. Specifically, the primary responsibilities as the head of the Foundation include:
- Identify support funding for community-based nonprofits, civic, and business charitable organizations and their initiatives that meet the necessary Foundation criteria.
- Ensure that funds disbursed to nonprofits and organizations are used correctly to provide meaningful change in the community.
- Act as the liaison between nonprofits and the Foundation Board, providing insights to stakeholders regarding how grants will be used to positively influence the community.
- Encourage ongoing collaboration with our nonprofit partners to determine solutions that support programs that fulfill their mission.
- Establish strategic plans to disburse appropriate charitable funds throughout the year with discernment on what opportunities will provide significant impact to the community.
Serve as a positive influence and inspiration to Columbia Bank customers and employees through demonstration of commitment to volunteer and charitable donations.
Q: How do you approach strategic planning and goal setting for a foundation?
Durante: In prior years, we’ve utilized strategic planning consultants to provide guidance and evaluation. However, in more recent years, our Board continually assesses our impact throughout the year with quarterly reporting in key areas. The staff team at OceanFirst Foundation also works closely with the Board and I to set goals and effectively execute them.
Holland: As one of the largest private foundations in New Jersey, the Columbia Bank Foundation Board annually constructs a budget that determines anticipated disbursements based on our yearly goal of impact and historical data of contributions. Our team works proactively to plan specified funds that benefit low-and-moderate income individuals relating to grants, sponsorships, our employee sponsored giving program, and direct charitable contributions. For each of our programs, we create allocation goals that correlate to one of our seven major focus areas of support; affordable housing, community investment and economic development, environmental sustainability, food insecurity, health and human services, and the arts. During our support requests review, we strategically select organizations whose mission and objective are consistent with the causes we support within the communities we serve.
Q: How do you assess the effectiveness and impact of philanthropic investments or grants?
Durante: It varies depending on the specific grant program, but we try to keep it as simple as possible to ensure that our partners are not overburdened by process and paperwork. We offer most grants as General Operating support to give our partners the latitude and flexibility they need to put our resources to work where they are needed most. I also spend a significant amount of time meeting our partners where they’re at, so lots of time hitting the road to connect in person and see their impact and needs first-hand.
Holland: Through collaborative partnerships, our team maintains close relationships by proactively engaging with the organizations before, during, and after funds are disbursed. To measure success of our efforts, we request organizations to provide feedback and progress on each project after one year of receiving funding. Furthermore, we measure the effectiveness of our support through the quantity of people impacted and how residents lives are directly improved within the community.
Q: Collaboration is often key in philanthropy. How do you cultivate and maintain relationships with other organizations, donors, and stakeholders?
Durante: First and foremost, you listen to those doing hard work in the community. That might happen at a visit to their organization to see the impact first-hand or when we meet with their team members at community events or special projects. It can also be as simple as making yourself accessible to phone or Teams chats. Our team also meets a lot of people doing the work at volunteer projects or at one of the many training or networking opportunities we provide for free to any nonprofit interested. We recognize that our grant funding is limited, so we go out of our way to support in any way we can “beyond the check.” Twice a year, we host Nonprofit CEO/Board leadership events, and these are really well attended and provide a chance for us to get to know leaders better in a relaxed setting.
Holland: The Columbia Bank Foundation aims to enhance communities by actively seeking and focusing on innovative programs that provide a measurable impact in daily lives. We cultivate and maintain our partnerships through active memberships within numerous philanthropic networks that allow introductions to New Jersey nonprofits. Specifically, the Foundation participates in organizations such as the Council of New Jersey Grantmakers and their affinity groups to foster valuable connections and educational services regarding nonprofits. In addition, as the Executive Director of the Foundation, I regularly attend and speak at philanthropic events that unite community partners, explain community needs, and foster connections. Most importantly, Columbia Bank employees provide the Foundation with meaningful introductions to nonprofits they are directly involved with. We are proud to report that about 70% of the Bank’s senior officers hold leadership positions in local organizations, sustaining our continued partnerships.
We maintain our nonprofit relationships through newsletters, impact reports, volunteer events, and attending fundraising functions. Columbia Bank and the Columbia Bank Foundation work closely together to maintain partnerships through our nonprofit banking division, delivering tailored financial products and services, as well as our corporate volunteering program, “Team Columbia” in which our employees are empowered to volunteer on company time. We encourage organizations to visit our website to connect and learn more about the Foundation guideline qualifications. Please visit, www.columbiabankonline.com/columbia-foundation.
Q: How do you stay informed about emerging trends, issues, and best practices in philanthropy?
Durante: I find the best way to stay informed is to be an active participant in programs offered by organizations like the New Jersey Center for Nonprofits, the Council of New Jersey Grantmakers, the Satell Institute, or New Jersey Bankers. There are always plenty of online resources to tap into and I never hesitate to check in with a colleague in the philanthropic sector when I need to bounce an idea around.
Holland: The Foundation consistently explores developing trends within New Jersey to evaluate new opportunities, assess how our programs can serve them, and determine our assistance to the cause. Our team also stays current on emerging trends and issues by following local news sources to identify areas of support. In addition, we leverage the relationships within the Bank’s branch footprint to understand community needs voiced through our customers and staff. In addition, by being part of organizations such as Council of New Jersey Grantmakers, Center for Effective Philanthropy, and New Jersey Center for Nonprofits we can obtain resources and attend seminars on current events that shape our strategic planning. The Columbia Bank Foundation performs yearly training on best practices and participates in the Philanthropic Committee hosted by NJBankers. Through the committee we stay informed on best practices through idea sharing between banks and charitable foundations.
Q: What strategies do you employ to engage and motivate your team members and foster a positive organizational culture within the foundation?
Durante: Our Foundation staff team—Stephanie Toal, Director of Communications & Impact Marketing; Lisa Petrozzello, Office Manager; and Julie Bellezza, Volunteer & Community Engagement Coordinator—are top-notch! They lead with their hearts and are guided by a sense of purpose to serve our neighbors; they truly enjoy the work. Our office is never short of laughter, everyone listens well to each other, and jumps in to support a colleague when needed. They like to volunteer together a few times each year and just last week participated in a Habitat for Humanity Women Build Day. It’s also great to have them come along to site visits and engage with the OceanFirst Bank team and Wavemakers at other volunteer and community events.
Holland: Although the Columbia Bank Foundation operates as an independent entity, Columbia Bank’s culture is deeply engrained in giving back to our community. Our shared commitment to making a difference to the residents we serve has formed a beneficial partnership. To demonstrate our collaboration the Foundation launched the Employee Sponsored Giving program which was designed for employees to nominate organizations for donations. Each year, employees submit organizations close to their hearts or those they are directly involved with. Subsequently, the nominations are grouped by overarching mission and distributed each month for a vote by all employees. Winning organizations receive a $10,000 donation, while other nominated organizations receive a smaller donation. By creating this rewarding engagement, Bank employees can spotlight organizations they value, as well as share in the celebration of a donation. In addition, we regularly highlight recent donation presentations and updated project pictures within our branches and corporate offices. Lastly, we proudly share our ongoing support for local organizations through our social media pages.
