Welcome to our fourth annual report for the San Angelo Area Foundation.
The past four years have been extremely gratifying as we witnessed tremendous growth of the Foundation through the generosity of donors and organizations from throughout the Concho Valley.
More than 140 funds established since inception of the Foundation.
Foundation assets increased to more than $26 million.
In 2006, we awarded more than 100 scholarships.
As this annual report demonstrates, the Foundation is financially strong and successly serves many needs in our area. This past year, we awarded more than $500,000 in grants and scholarships, bringing our four-year total in excess of $1.5 million. Total Foundation assets now exceed $26 million.
Scholarship funds continue to increase, which allowed us to award more than 100 scholarships with a total value of more than $100,000 in 2006, and that number looks to increase in 2007!
The quality of investments continued positive growth in 2006, providing ample returns for grants, while increasing the value of our funds by outpacing inflation. (See page 26 for more updates on our strong financial picture.)
Finally, many thanks to our outgoing Board Chairman, Frank Rose. Frank really understands the vision of a strong community foundation and our ability to improve the quality of life for generations to come.
Please sit back and enjoy our report. On behalf of the board of directors, we hope you will join us as we work together to build empowered charitable giving for our future, forever.
Yours truly,
James A. Carter
Chairman of the Board
Matt Lewis
President & CEO
