Hartford Business Journal

5 TO WATCH HARTFORDBUSINESS.COM | JANUARY 13, 2025 19 In her new capacity, DuBois-Walton said she plans to focus on several key areas. They include: Regional collaboration: She emphasizes the need for broader regional cooperation to address issues affecting families, such as housing and job opportunities. She said "the foundation aims to play a crucial role in convening stakeholders and focusing investments to drive economic growth without leaving anyone behind." Donor engagement and strategic investments: DuBois-Walton said she will work closely with the donor services and grantmaking teams to align donor interests with pressing community issues, like housing and job training. Mission investment and entrepre- neurial support: The foundation will continue its mission-investment work, providing funding and support to new businesses and entrepreneurs. This includes helping with business plans and access to capital. Community listening tour: To better understand and address community needs, DuBois-Walton plans to conduct a comprehensive listening tour, engaging educators, healers, artists, small business owners and entrepreneurs. Focus on equity and opportunity: Building on her experience at Elm City Communities, DuBois-Walton said she aims to expand access to essen- tial resources, including direct cash assistance programs and support for small businesses. Housing stability and afford- ability: Recognizing the challenges of housing affordability, particularly for renters, DuBois-Walton said she wants to explore creative ways renters can build wealth and stability. That could include looking into ways renters can count their timely monthly rent payments toward building credit. DuBois-Walton said she also wants to increase the foundation's visibility and engagement within the commu- nity. She aims to broaden the defini- tion of philanthropy, encouraging more people to contribute and participate in the foundation's mission, regardless of the size of their contributions. Other background In addition to her roles in New Haven, DuBois-Walton was the immediate past chair of the CT State Board of Education, and prior to that, she served as chief of staff and chief administrative officer for former New Haven Mayor John DeStefano Jr. She also serves as board chair of the Melville Charitable Trust, over- seeing a $130-million asset base and directing program and mission-re- lated investments toward addressing the root causes of homelessness. She earned a bachelor's degree from Yale University, and a master's degree and Ph.D. from Boston University. She lives in New Haven with her family. Karen DuBois-Walton in her New Haven office. Building Equity Leading Community Foundation for Greater New Haven, DuBois- Walton aims to 'create pathways for economic growth and stability' By Hanna Snyder Gambini K aren DuBois-Walton's new Audubon Street office, where she sits as president and CEO of The Community Founda- tion for Greater New Haven, is in familiar territory. It's practically next door to her previous home base when she was head of the Elm City Communities/ Housing Authority of the City of New Haven. And it's not just the physical proximity of the two offices in New Haven's Audubon Square neigh- borhood that keeps DuBois-Walton connected to the people, places and priorities in the city and region. It's her longstanding support of community development and social equity that has led her to lead the region's $665 million-asset commu- nity endowment and largest grant- maker to local nonprofits. DuBois-Walton was named CEO of the community foundation in September, succeeding longtime leader Will Ginsberg, who stepped down on Nov. 2, after 24 years in the role. Much of her work will have a connection to her previous job, still focused on helping those in need in more than 20 communities in and around New Haven. She helmed Elm City Communities for 16 years, leading an affordable housing agency that serves more than 6,000 families and 14,000 individuals. In charge of the $800 million umbrella organization, DuBois-Walton spear- headed initiatives to address systemic inequities in housing and commu- nity development, education and economic access and opportunity. In her new role, DuBois-Walton will lead roughly 50 staffers who work in the areas of donor relations, grant strategy, mission invest- ments, office administration and senior management. The community foundation, which doled out $32 million in grants and distributions in 2023, is home to more than 1,000 charitable funds established by individuals, families and organizations. The foundation received $41.9 million in new gifts and transfers in 2023. Funds are used to support various programs from job skills and manufac- turing workforce training, to racial equity and DEI workshops for nonprofits. The foundation is also building a new business support network — called the New Haven Equitable Entre- preneurial Ecosystem (NHE3) — for small business owners who may not have had access to traditional lenders, providing connections to technical assistance as well as capital. In 2023, NHE3 made $1.2 million in grants to 227 small businesses — 152 of which were Black-owned. "We have the potential to make a significant impact on our commu- nity by aligning donor interests with community needs and focusing our investments effectively," DuBois-Walton said. "Our goal is to grow people's access to essential resources and create pathways for economic growth and stability." Top priorities Being a familiar name in the community, DuBois-Walton was sought out for the community foun- dation job by a search committee. Fernando Muñiz, chair of the search committee and vice chair of the foundation's board of directors, said DuBois-Walton was the top candidate due to her "unique combination of leadership ability, experience and deep connection to and passion for the Greater New Haven community." KAREN DUBOIS-WALTON President & CEO The Community Foundation for Greater New Haven Education: Bachelor's degree in psychology, Yale University; master's degree and Ph.D. in clin- ical psychology, Boston University Age: 57 COMMUNITY FOUNDATION'S LONG-TERM ASSET INVESTMENT ALLOCATION The Community Foundation for Greater New Haven's Corporation manages more than $500 million of the foundation's endowed assets. The Corporation posted a 12.7% gain in 2023. Here's how it's invested: Source: The Community Foundation for Greater New Haven's 2023/24 Annual Report ASSET TYPE % OF ALLOCATION GLOBAL EQUITIES 50% HEDGES 15% PRIVATE EQUITY 12.5% FIXED INCOME/CASH 15% REAL ASSETS 7.5% PHOTO | COSTAR

• Cover