Welcome to our third annual report about the San Angelo Area Foundation.
In just over three years, we have witnessed true altruism at work. Through the generosity of more than 1,000 donors, we have received more than $17 million in gifts since the Foundation’s inception. Gifts have come throughout the area we serve, 105 separate funds have been created, and we receive more inquiries all the time.
We believe West Texans are generous and forward-thinking, and we have been proven correct.
This past year, we awarded more than $500,000 in grants and scholarships, bringing our total distributions in three years to $1 million.
More than 105 funds established since inception of the Foundation.
Foundation assets increased to more than $17 million.
In 2005, we awarded more than 50 scholarships, and more than 80 in 2006.
Scholarship funds continued to increase, which allowed us to award more than 50 scholarships in 2005. This is more than double the previous year, and we expect to continue this success in the future, with more than 80 scholarships in 2006.
The quality investments of the Foundation continued to grow in 2005; we invite you to read more about our outstanding financial strength in this report.
We are truly blessed to live in this part of the world and work with such wonderful people and organizations. West Texans are conservative yet giving, and we believe the Foundation embodies that same spirit.
Enjoy your perusal of this report and, on behalf of our board of directors, we hope you join us as we look forward to building empowered charitable giving for the future, forever.
Yours truly,
Frank W. Rose
Chairman of the Board
Matt Lewis
President & CEO
