Message from the President and Executive Director

November 15, 2011

Gerald N. Jacobowitz Esq.

Karen VanHouten Minogue

Annual Report Message from the Executive Director and President of the Board of Directors

Dear Friends:

Within everyone there is a story: where you come from, where you’ve been, the people you love, and the passions that move you. Those stories are told, recounted, preserved and perpetuated through endowment funds entrusted to us. We are proud to be a part of the stories. This year’s annual report follows the stories of four typical donors, each of whom is fulfilling personal philanthropy through funds at the Community Foundation of Orange and Sullivan.

As you review the Annual Report, you will travel on the journey those donors have taken, and share with them the feeling of doing good in the name of a memorial, honor, special event or driving passion. You, too, can create a legacy of giving that improves our community forever. As illustrated by the funds spotlighted, you can establish a fund that allows you to feed hungry people, teach children to read, preserve our area’s history, or permanently support your favorite nonprofits.

We now boast 120 funds with a total current value of $6.7 plus million. The pace of fund creation has gained momentum as the seeds we have planted have begun to sprout and grow.

The Community Foundation welcomed 22 new funds in fiscal year 2010-2011, each of which was created by a person, organization or family that wanted to make a permanent commitment for the good of our community.

That commitment has always been at the heart of our work, and it has translated into more than $6 million in grants and scholarships in our 11 year history.

In the last 12 months, we’ve seen our assets grow as the economy has continued to recover. The Community Foundation’s investment portfolio finished its fiscal year beginning July 1, 2010 and ending June 30, 2011 with a net gain of 16.2 percent. The Finance and Investment Committee continues to closely monitor the foundation’s portfolio in light of current market conditions. Growth is a result of the prudent investment strategies and sound oversight of our Finance Committee and Board of Directors in challenging times.

In this season of giving, we encourage you to start thinking about the legacy you want to create for you and your family. We would be delighted to personally talk with you about your goals and dreams for our community, and share with you the inspiring things our donors have accomplished through their funds at the foundation.

This effort is not possible without a team ready, willing and able to carry the message and provide guidance and help. The team is the Board of Directors, the working committees, the host of volunteers, the staff, our supporters, sponsors, and fund representatives. Together, we are a formidable force for good.

Our vision is that the Community Foundation should embrace and enhance the work of charitable people who make a permanent commitment to the good of our community. Charitable people like you are making this vision possible every day, one gift at a time.

Our work has just begun. There are unlimited horizons. Our goals are continually expanding.

On behalf of the many people who have benefitted from this team effort THANKS TO YOU, who have made this possible. Enjoy the holidays.