Cone Health Foundation

January 28, 2011

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Susan Shumaker

Greetings!

 

As the first month of 2011 comes to a close, our commitment to you is to communicate clearly and openly about the Foundation's short and long-term grantmaking plans.

No new grants

Cone Health Foundation's assets have not returned to the level prior to the economic downturn. While our asset base has recovered significantly from an historic low two years ago, assets are still down almost 20% from their peak. Because most of our grants are multi-year commitments and we base our grantmaking budget on a rolling twelve quarter average, fiscal year 2012 (which begins October 1, 2011) will not have available dollars for new grant investments.

Please be assured that, based on satisfactory performance, Cone Health Foundation intends to honor our current grant commitments, including those with payments scheduled in 2012 and beyond. What this does mean, however, is that we will not conduct an active call for new proposals in the spring of 2011.

We're listening

The few additional funds that we may recognize between now and 2012 will allow us to respond to a community that is still feeling the effects of a recovering economy. This is a moment when organizations and foundations need to be very focused and intentional in what they do. If ever there was a time when strategy and clarity about goals was important, this is the time.

 

We are in close contact with you to understand how your organizations are faring as the economy continues to recover. Many of you have told us about the significant losses to your own assets and resources, the challenging fundraising environment, and the increased need for services. We have also been working over the last couple of years on reducing our own administrative costs in a way that does not impact the strategic nature of our grantmaking. In fact, our administrative budget for 2011 is the lowest it has been in six years.

Our work will continue

Providing funding to help grantees achieve shared goals is what foundations do best. For 14 years, Cone Health Foundation has been working to build a healthier community for the greater Greensboro area. Despite the downturn in the economy, this important work must and will continue. Thank you for partnering with Cone Health Foundation to help make our community a healthy place to live.
 

Sincerely,

 

Susan Shumaker

 

News from our community

February 14, 2011

Guilford Coalition on Adolescent Pregnancy Prevention

Adolescent Pregnancy Prevention Summit
 
Greensboro Airport Marriott Hotel

More information and to register:  linda@gcapponline.org