2002 Annual Report
Ben & Jerry’s Homemade, Inc. makes a contribution to the Ben & Jerry’s Foundation each year based on a formula that has a floor amount established at $1.1 million and is adjusted upward annually based on the formula established in 2000. For 2002 this contribution amounted to $1,206,412 dollars. These funds will be given away in 2003.
The Foundation is a separate entity from the company and has a staff of three part-time employees (the Executive Director and Managing Director job-share and make up the equivalent of one full time employee). Staff reports to the Foundation trustees who are company co-founder Jerry Greenfield, Board member Jeff Furman and former Director of Social Mission, Liz Bankowski. Since these significant dollars for philanthropy are the result of the hard work of the company’s staff, employees are extensively involved in the Foundation’s grant making. (Grants are subject to final approval by the trustees and administered by the Foundation.) In general the purpose of Ben & Jerry’s philanthropy is to support the founding values of the company: economic and social justice, environmental restoration and peace through understanding, and to support our Vermont communities.
Significant Changes in 2002: While the Foundation makes a practice of investing in Community Banks we have never formally written a policy around our investing. In 2002 we worked with an organization called The Center for Economic Justice and in June 2002 the trustees adopted the following policy:
Ben & Jerry’s Foundation
Investment PolicyAs the Ben & Jerry’s Foundation is committed to supporting and encouraging social, economic and environmental justice, it’s investment dollars are used to further those goals as well.
As such, the Ben & Jerry’s Foundation limits its investment dollars to Community Development Financial Institutions (CDFI). CDFIs are private sector financial intermediaries that have community development as their primary mission and develop a range of programs and methods to meet the needs of low-income communities.
CDFIs create new economic opportunity for businesses, individuals, and institutions that do not have access to the mainstream economy.
Ben & Jerry’s Foundation’s CDFI investments include Community Development Banks, Community Development Credit Unions and Community Development Loan Funds across the U.S.
Moreover, Ben & Jerry’s Foundation does not invest in Corporate Securities and has adopted an explicit policy against investing in World Bank Bonds (The International Bank for Reconstruction and Development and International Finance Corporation).
| Funds Disbursed | 2000 | 2001 | 2002 |
| Foundation | $622,050 | $755,900 | $839,300 |
| # of recipients | 64 | 82 | 92 |
| Community Action Teams | $184,408 | $193,320 | $194,539 |
| # of recipients | 208 | 210 | 211 |
| Other Grants (Corporate) | $102,128 | $80,620 | $80,200 |
| # of recipients | 51 | 36 | 43 |
| Employee Matching Gift Program | $37,215 | $30,880 | $29,986 |
| % of staff participation | 14% | 13% | 13% |
| Total granted | $945,801 | $1,060,720 | $1,144,025 |
The Foundation administers the following programs:
Employee Grant-Making Committee
A nine-member board representing each of the Ben & Jerry’s sites in Vermont makes grants to national and Vermont based nonprofit organizations to support progressive social change and environmental work. Members are chosen by their peers and serve three-year terms. Grants are made three times a year and range from $500 to $15,000. Some of the organizations that received funding included: $12,500 to Citizen Coal Council for their Appalachian organizing project, $5,000 to the Jane Addams Senior Caucus in Chicago for their affordable housing project, $7,500 to the Centro Independiente de Trabajadores Agriciolas (CITA) in Florida, NY organizing farm workers who are excluded from basic labor laws, $12,500 to the Washing Sustainable Food and Farming Network in Bellingham, WA serving as a voice for small farmers and sustainable agriculture interest on policy issues.
A complete list of grants can be found on our website at www.benjerry.com/foundation/
Community Action Teams
Each of the company’s Vermont sites has an employee community action team or CAT. Members are chosen by their peers and serve for three-year terms. The teams review and decide on small grants requests, generally $100 to $1,000 for local nonprofit organizations. These grants are intended to express both employees’ concerns and the company’s intent to be a good neighbor. The teams generally meet monthly. In addition to the grant-making program, the teams working with their site management, identify, undertake and underwrite community enhancement projects. Projects must be undertaken with a 501c(3) approved nonprofit or a municipal entity. (There are guidelines used for determining appropriate projects.) In 2002 the five Community Action Teams distributed $194,539 in grants to organizations such as: $750 to Burlington City Arts for their summer youth camp program, $500 to Calais Elementary School to upgrade the school playground and $1,000 to the Battered Women’s Services and Shelter for a shelter addition project. In 2002 the Vermont community projects included clean up of two YMCA summer camps in Grand Isle, trail work for the Green Mountain Club, refurbishing a playground in Springfield, and at the Green Mountain Camp in Putney, Vermont, the Distribution Center CAT replaced the roofing shingles on several of the camp sleeping cabins, repaired the screening on the cabins wrap around windows, sprayed the exterior of the cabins with a wood preservative, cleared brush, removed overgrown tree limbs, and raked and cleared pathways.
Employee Matching Gift Program
The Foundation matches up to $1,000 a year per staff member for gifts to nonprofit organizations. This program has a cap of $50,000. In 2002, 13% of staff participated and $29,986 was matched in grants.
Other Grants
The Foundation trustees may make grants to nonprofit organizations in the areas of children and families, environmental restoration, sustainable agriculture and peace through understanding and in support of the company’s social mission initiatives. Grants to support the company’s social mission programs are not used for sponsorships, promotions or other marketing purposes. Recognizing that part of the company profits come from international sales, the foundation trustees in discussion with company management, allocates funds annually for grants to registered non-governmental organizations operating outside the United States. In 2002, $80,200 was distributed in support of the company’s activities including $30,000 for the Vermont Dairy Farm Sustainability Project, $2,500 to Kids Voting Vermont and $2,000 to the Epiphany School.
“The U Fund”
In addition to the funds allocated to the Foundation for a ten-year period under the merger agreement (8/2000 – 8/2010) the Foundation trustees oversee and administer a one-time, $5 Million dollar gift that resulted from the merger. These funds are granted proactively to nonprofit organizations that support citizen education and activism around globalization issues and social justice. In 2002 the Trustees distributed $1,005,000 in grants that included $300,000 to Global Exchange, $100,000 to United for a Fair Economy and $50,000 to Jobs with Justice.
Ben & Jerry's Foundation
30 Community Drive
South Burlington, VT 05403-6828
(802) 846-1500