a message
from the CFO

The foundation’s mission of transforming lives of children in urban poverty will require a sustained effort over generations.

As faithful financial stewards, we have a twofold mandate: 1) supporting our grant-making staff as they address the challenges posed by ongoing global economic volatility; and 2) safeguarding the foundation’s ability to support innovative, life-changing solutions in the future.

To those ends, we maintain rigorous and thorough financial controls, while also making grants at nearly twice the rate required by the Internal Revenue Service.  In 2010, the foundation awarded grants and program-related investments of almost $96 million.

We are pleased to report that while our grant teams continue to disperse substantial funds for immediate, on-the-ground impact, the foundation remains financially well positioned to address the shifting global landscape of opportunity and need among children living in urban poverty.  Despite the turbulent economic times and the foundation’s robust giving levels, the foundation has ended 2010 with investment assets of $906 million.

Lorenzo Tellez, Chief Financial Officer