RD392 - Virginia Early Childhood Foundation 2019 Annual Report and Financial Statements June 30, 2019 and 2018

Executive Summary:

The Virginia Early Childhood Foundation (VECF) strives to set a vision for Virginia’s cohesive, effective and accountable early childhood system. It’s our pleasure to present this report on progress in our role as the state’s public-private school readiness partner.

VECF was created 14 years ago by business and education leaders who recognized the impact that early childhood development plays in laying a strong foundation for Virginia’s youngest citizens, helping to ensure their success in school, the workforce, and life. Since then, with steady investment from Virginia’s governors and legislature, VECF has focused on efforts to build local capacity and to inform and strengthen the critical infrastructure that underlies an equitable early childhood system. We’re pleased to share with you some of the culminating initiatives that VECF has forged over the past year in partnership and in service to the Commonwealth and its residents.

We value all our stakeholders, investors and the families and children whom we prioritize. VECF and its Smart Beginnings partners seize every opportunity to leverage resources to yield significant return on investment. In FY19, VECF and partners leveraged additional resources to our base appropriation by a ratio of 22:1. At the same time, we keep overhead low, strategically directing resources into strategies that hold promise for children and families in Virginia.

VECF is well poised for increased focus and impact in the year ahead, honing strategies and lessons learned from the innovative work of communities across the state. We look forward to partnering with Virginia’s business community to promote a framework to articulate Virginia’s early childhood goals, principles and standards in statute, leveraging an array of programs to form a cohesive, accountable, common sense system to support our youngest learners.

Thank you for joining us in the vision that every Virginia child is prepared for school, laying the foundation for workforce and life success.


/s/ William Ermatinger
Chair, VECF Board of Directors FY18-19

/s/ Kathy Glazer