Affordable housing and education were two of the main issues the New Hanover Community Endowment's board members addressed during a public information session in June.
New Hanover County community members as well as local government officials gathered at GLOW Academy, a girl's leadership academy in Wilmington, to hear an update from the organization that was created after the sale of the county-owned New Hanover Regional Medical Center to Novant Health in 2020.
The New Hanover County Board of Commissioners invested nearly $1.3 billion to form the endowment, which funds organizations that strengthen the county through education, equity, community safety and community development.
Here's a look at the endowment's current priorities, the search for a new chief executive officer and concerns from the public.
Affordable housing
The endowment, which is about two years into its work, has created an affordable housing plan that will focus on investing in three different areas -- stabilization, production and capital.
For stabilization, the endowment will focus on funding based on core operating support and capacity building that will reduce resident displacement. The second area focuses funding based on production and rehabbing existing units to produce rental and homeownership units. The third area -- capital -- focuses on forming a cohort of housing experts and building impact investment fund recommendation.
About 35% of New Hanover County residents are choosing between housing and other basic needs, according to Terri Burhans, an endowment network officer leading the strategy.
Burhans said the goal is to relieve the burden on county residents.
"What you'll see from the endowment is you'll see investments being made in ways to increase income through workforce development and ways to reduce expenses," Burhans said.
Burhans said this is just the first step and that the endowment aims to make affordable housing a long-term priority as the need is unprecedented, not just in the county and the state, but in the country.
Support for New Hanover County Schools
New Hanover County Schools, which has been struggling with a $20 million budget shortfall going into the 2024-25 school year, will be receiving a grant from the endowment for a total of $8.7 million, which is $2.9 million each year for three years.
The funding will go toward providing 26 literacy facilitators, with one in each elementary school. The funding will also include two Pre-K teachers and teacher assistants.
Lakesha McDay, executive vice president of programs and operations, said the grant is an innovative approach that directly aligns with the endowment's education pillar and 2023-25 strategic plan.
About the endowment
The endowment board is made up of 13 members. The endowment is responsible for appointing two, the New Hanover County Board of Commissioners is responsible for appointing five and the hospital board is responsible for appointing six.
Bill Cameron is the board chair, while Shannon Winslow is the vice chair. Other board members include Jack Barto, Chris Boney, Spence H. Broadhurst, Cedric Dickerson, Patrick Maguire, Khadijia Tribié Reid, Mary Lyons Rouse, Edelmira Segovia, David Harriss Sprunt, Stedman Stevens and Woody White.
There are nine staff members who facilitate the day-to-day operations of the endowment currently.
Search for a new CEO
The endowment kicked off its search for a new CEO in May after its original CEO, William Buster, resigned in February. The board appointed McDay to handle the day-to-day roles and responsibilities of the CEO in the meantime.
Board Vice Chair Shannon Winslow said the endowment has been using Moss + Ross, an executive search firm, and that it is the board's intent to have a new CEO in place by late summer.
Public's concerns
Board chair Bill Cameron, Winslow and McDay took questions from the audience and answered a number of concerns that community members had, one of those being transparency.
Healing Our People's Endowment, an organization led by former mayor and state senator Harper Peterson, was present at the information session and has been outspoken about the endowment's lack of transparency and community inclusion as well as the privatization of public funds.
Here are some of the questions the public had:
Why did New Hanover Community Endowment invest so much money in the nursing talent pipeline? Cameron said the endowment invested because the nursing shortage is a nationwide and worldwide problem and it affects the ability to offer health equity throughout the community. He said the efforts the endowment made to increase the number of healthcare workers is to be able to help provide for the health of the local community through partnerships with Cape Fear Community College, the University of North Carolina Wilmington and New Hanover County Schools.
What steps is New Hanover Community Endowment taking to increase transparency? Cameron said the endowment has two of the public information sessions per year and the endowment's Community Advisory Council works in the community with members in the nonprofit sector. He said the endowment has heard the public about transparency concerns, and the board has been discussing ways to improve.
What steps will New Hanover Community Endowment board take to insist on diversity of its members and staff? Winslow said the board and staff members have diversity of experience -- that being professional experience and lived experience -- as well as racial diversity. She said the board believes that diversity brings value.
The New Hanover Community Endowment has been without a CEO for five-and-a-half months. How does the staff of a $1.3 billion endowment perform without essential leadership? Cameron said that McDay, who has led the day-to-day operations while the board looks for a new CEO, is a well-trained, well-experienced and extremely talented leader and that the organization's mission, vision and values haven't wavered. McDay said that every day endowment staff members come to work for the people of New Hanover County, and because of that, they couldn't afford to stop because they didn't have a CEO.
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