RSF WAS FOUNDED on the CONCEPT of Service Through Finance for Social Benefit
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rsf MARCH 31, 2005 QuarterlyAN IMPACT REPORT OF THE RUDOLF STEINER FOUNDATION’S ACTIVITIES IN THIS ISSUE RSF WAS FOUNDED ON THE CONCEPT of service through finance for social benefit. As we look back at 2004 and forge ahead into 2005, we find ourselves, our investors, donors, and RSF Facts at a Glance . 1 borrowers increasingly active and leading partners in the growth of social finance. We Projects Funded This have not only been visible via projects we fund and other activities, but also present at Quarter . 2 many important events that speak to a future in which the world works with money with President’s Letter 3 . a new consciousness. In this issue, we reflect back on 2004 in pictures, financial high- 2004 Year in Review . 4 – 8 lights, and select stories. Most notably, a letter from Mark Finser offers his insights into Stories of how RSF, through its donors, the year just past, and a sense of anticipation for the year ahead. But, we would be remiss investors, borrowers, and grant recipients, if we did not also keep you up to date on the positive impact we are having on the world have effected the lives of many through all of our programs. We hope you enjoy this issue of the RSF Quarterly and we Images and Linkages . 9 look forward to your continued interest. RSF 2004 Consolidated Financial Highlights . 10 New RSF Funds. 11 Creating Social Benefit Through Projects About RSF . 12 We Fund In this issue, we present a few stories of how RSF, through the support of donors, investors, and borrowers, has touched the lives of people around the world in 2004. We also hope that these stories—about how your money can effect positive change—can serve as an invita- tion to learn more about our work and vision for the future. Stories begin on page 4 RSF FACTS AT A GLANCE As of December 31, 2004 Consolidated Fund Balances RSF Investors RSF Funds Investment Funds $ 39,162,101 94 8 76 Borrower Funds $ 33,222,562 Donor Advised Funds $ 23,923,324 Organizational Funds $ 2,940,292 109 83 Field of Interest Funds $ 818,867 642 New Investors Year-to-Date 67 New Investments in Dollars $ 5,414,963 Individual Investors 642 Borrower Funds 76 Total Assets $79,846,774 Organizational Investors 94 Donor Advised Funds 83 Total Investor Funds 736 Field of Interest Funds 8 Organizational Funds 109 Note: RSF has created a number of controlled supporting foundations in order to carry out its charitable mission more effectively. All numbers in the RSF Quarterly will reflect consolidated numbers that include the activity of these other supporting foundations. 1 Projects Funded This Quarter NEW LOANS APPROVED Coyuchi Rudolf Steiner Fellowship Foundation Creative Speech Spring Valley Rudolf Steiner Library Loans approved: $528,367 Defense of Place Sarvodaya USA Live Oak Waldorf School Democracy Now! School of Eurythmy-Threefold Educational Michael Fields Agricultural Institute Detroit Waldorf School Foundation Waldorf School of Atlanta Earth Island Institute Seminary of the Christian Community-Chicago Emerson College Shade Tree Multicultural Society GRANT RECIPIENTS Freunde der Erziehungskunst Rudolf Steiners e.V. Shining Mountain Waldorf School Fundacíon La Choza Small Planet Fund Grants made: $2,079,547 Green Century Institute Sophia Foundation Donations received: $8,586,518 Green Meadow Waldorf School South East Branch Anthroposophical Society Academy for the Love of Learning Greenpeace Fund Speech and Drama in Waldorf Schools American Farmland Trust Hartsbrook School in the West American-Russian Educational Exchange Hawthorne Valley School Steiner Books (Anthroposophic Press) Anthroposophical Society in America House of Peace Stop It Now Arcturus Rudolf Steiner Education Program Institute for Environmental Entrepreneurship Summerfield Waldorf School Aspen Grove Project Kimberton Waldorf School Sunbridge College Association for a Healing Education Media Democracy Project Suncoast Waldorf Association Association of Waldorf Schools of North America Melrose Elementary School Sustain Associazione per la Pedagogia Steineriana Michael Fields Agricultural Institute Teamster Rank and File Education & Legal Auroville International USA Mind & Life Institute Defense Foundation BALLE Napa Valley Native Arts Circle The Actors Ensemble Blue Mountain Clinic New Visions School The Christian Community-Taconic Berkshire Brantwood Camp On The Move Region Boulder Waldorf Foundation Operation Speak Out The eLib. California Prison Focus Organic Center for Education and Promotion The Nature Institute Camphill Foundation Oxfam America Tibetan Buddhist Resource Center Camphill Village Kimberton Hills PAAM-AnthroMedLibrary Project Tides Center Cedar Springs Waldorf School Pachamama Alliance Triform Enterprises Center for Anthroposophy Research and Peace Development Fund Triskeles Foundation Renewal Pine Hill Waldorf School University of Creation Spirituality Center for Economic Justice Prairie Hill Waldorf School Waldorf Initiative of Madison Center for the Art of Living in America Public Patent Foundation Waldorf School of Princeton Center for the Development of Social Finance Rudolf Steiner Centre Walking the Dog Theatre Community Homestead Rudolf Steiner College Values For over 20 years, individuals like you have chosen RSF as their values-based investment vehicle. RSF turns your values Intention and intentions into action by making loans to socially-con- Action structive projects. Now you can earn interest with your retirement funds RSF COMMUNITY INVESTMENT FUND while fulfilling your social ideals. Establish a Self-Directed IRA today to support the RSF CIF program. “To know that my money can indeed be directed to causes which I feel passionate about is such a welcoming and empowering change for me. Investment funds that leave one in the dark and powerless in terms of direction and decision-making are Please contact Mark Herrera at 415.561.6160 or [email protected] for more information. Please visit our website at www.rsfoundation.org to find a thing of the past for me. Knowing that I can always stay in touch with the Rudolf out more about the projects we fund. Steiner Foundation and the wonderful projects it supports give me peace of mind, and a lot of joy.” This does not constitute an offer to sell or the solicitation of an offer to buy, and no investment may occur from a state in which an offer, solicitation or sale is not authorized. CELINE HAUGEN Investments are offered solely through the Disclosure Statement for the RSF Community INVESTOR Investment Fund Program. 2 President’s Letter Dear Stakeholders, In 2004 RSF touched more corners of the social benefit landscape than ever before. RSF made 377 grants totaling $9.6 million and funded 22 loans totaling $6.6 million. RSF experienced significant growth in 2004. Our total assets commitment to this special occasion, along with other individuals grew to $79.8 million primarily due to increases in our Community and organizations, helped bring the celebration of this milestone Investment and Donor Advised Funds. All in all, an unparalleled to fruition. $23 million moved through our investment and philanthropic Some of you may know that 2004 afforded me the unique management programs in support of our charitable mission. Because opportunity to take a very empowering and rejuvenating sabbati- moving money for social change is integral to RSF, we led and cal over the summer. I want to thank our Board of Trustees and facilitated the formation of a collaborative—Collaboration for staff for supporting me during this time of nourishment and reflec- Transforming the Way the World Works with Money. Currently, tion. The sabbatical was empowering personally; I challenged representatives from 40 organizations participate and meet to myself physically, mentally and spiritually while traveling domes- discuss and research money and its role in society. tically and abroad. It also empowered me professionally knowing Several innovative projects were supported, developed, or that I could leave RSF in the hands of our capable staff. During started this year. An exciting example is the Charitable Asset this time, our staff worked tirelessly on a systems conversion and Management Program (CAMP), which allows donors, both indi- overall infrastructure growth, preparing for the next level of work viduals and organizations, to give to RSF and have their donated in 2005 and beyond. funds invested in a socially screened manner to benefit society and Looking forward in 2005, while there is much going on in the the environment. Another was a partnership forged with TransFair world to cause concern, we at RSF have a strong feeling of hope USA, the nation’s only fair trade certifying organization, which is and enthusiasm on the heels of a successful 2004. My role will helping to generate global awareness for the vital issue of organic begin to transition in 2005 as I hand off more day-to-day opera- and fair trade practices. tional responsibilities to other staff at RSF. The time has come In our artistic mission area, RSF launched Spirit–The Seventh to dedicate more of my time to building the foundation for the Fire, a breathtaking multi-media dramatic musical which describes future, forging ahead, and guiding RSF from that vantage point. the wonders and healing powers of Native American wisdom and The theme of sustainability is uppermost for us, for the world, lore to wide-eyed audiences across the country. and for helping the helpers. In the social finance sphere, we began working with the organ- As you read this year in review, we hope to bring to life the izing group planning to establish a sustainable bank in California impact of the work we do through the stories and voices of the modeled after a well-known sustainable bank in Europe and long- individuals, families, and communities we serve. In the end, RSF time colleague of RSF—the Triodos Bank. You will learn more is a place that fosters ways for individuals and organizations to about this project in a future report.