President's Report for Fiscal Year 2010-2011
The Prince George Community Foundation is pleased to report increases to the endowed assets through the addition of new community, organizational, family and memorial funds . We have reached a new benchmark of close to $6,000,000 at fiscal year-end August 31, 2011. The worldwide economic market has had an impact on the amount of the income realized, however we will have funds available to grant as we have in the past.
The Board of the Foundation continues to be dedicated to prudent management of its assets and to keeping organizational costs to a minimum. Our main special event to offset administrative costs, the Labour Day weekend FARR- WIC Golf Tournament was well supported by businesses and golfers and raised $40,800. A sincere thank you goes to all of our supporters. Our second event, the Citizen of the Year Celebration, has a dual purpose. It is both a fundraiser for the Citizen of the Year Endowment Fund and a salute to volunteerism in Prince George. Again this event was a tremendous success in promoting volunteerism and the Foundation. Congratulations to the 2010 Citizen of the Year, Sharon Hurd.
Collectively through our returned income to organizations and agencies which have established endowments with the Foundation, adjudicated granting process, and our designated grants a total of $79,284.18 was awarded to assist in making Prince George a better place in which to live. Youth in Philanthropy, through the wishes of donors, has made significant advances during the past year. The Gateway Assisted Living facility and the Community Garden were both the recipients of artistic work provided by talented youth from our community.
There are a significant number of dedicated volunteers, including our volunteer board, who provide both ongoing and project specific support to this Foundation throughout the year. Without their input and hard work we would not be where we are today. For this dedication to our cause we are truly thankful to all for 'Giving Something Back' to our community.
Three Directors will be stepping down from the Board this year, Andrew Adams, Dan Rogers, and Myrt Turner. We are very pleased to have had their input and dedication to the Foundation and look forward to their ongoing contribution in other ways. Bill Hellyer stepped down earlier in the year. A sincere thank you goes to all of these directors for their service to the Foundation and, therefore, to our community.
We are pleased to welcome one new director, Michael Kerr, who as the former 2008 Citizen of the Year and a very involved member of the Citizen of the Year Committee is not a stranger to the Prince George Community Foundation.
Specific thanks must go to our Executive Director, Judy Neiser, for her excellent contribution and dedication to the Foundation.
I look forward to another year of progress with the Prince George Community Foundation.