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2006 ETF Annual Record 12-19-2007.Pmd 1 1/7/2008, 12:13 PM Our Mission

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2006 ETF Annual Record 12-19-2007.Pmd 1 1/7/2008, 12:13 PM Our Mission 2006 Annual Record East Tennessee Foundation’s Report to the Community Thoughtful giving for stronger communities, better lives Celebrating 20 Years 1986 - 2006 2006 ETF Annual Record 12-19-2007.pmd 1 1/7/2008, 12:13 PM Our Mission: East Tennessee Foundation is a public, nonprofit, community foundation created for the purpose of building charitable resources to make communities stronger and lives better through thoughtful giving. Left to right, Front row: Marie F. Alcorn, Bobbie Y. Congleton, Betsey R. Bush, Alice A. Mercer, J. Kenneth Porter Second row: Anne M. McKinney, T. Scott Thompson, Richard A. Davies, A. David Martin Third row: Margit S. Worsham, Maribel W. Koella, Howard Z. Blum, Paul G. Willson Fourth row: Mark K. Williams, Frank B. Gray, Carol G. Transou, Marian E. Oates, Sam F. Fowler, Jr., B. Fielding Rolson Fifth row: Peyton T. Hairston, Jr., Frank M. Addicks, Lew E. Weems, Larry B. Martin Not pictured: Darrell D. Akins, Stephen C. Arnett, Vance W. Cheek, Jr., Edwena L Crowe, Wm. Gregory Hall, Jr., Natalie L. Haslam, Jenny L. Hines, Mark A. Jackson, Sherri P. Lee, James A. Ley, H. Lee Martin, Cheryl Massingale, J.N. McGuire, Jr., Charles M. Peccolo, Jr., S. Pace Robinson, Oliver S. Thomas, David V. White, Annette E. Winston, Stuart R. Worden, Lindsay Young 2006 Board of Directors Table of Contents A Letter from the Board Chair and President 1 Governance 12 What is East Tennessee Foundation? 2 Advisory Boards & Grants Panels 13 20th Anniversary Celebration 3 Investment Performance & Asset Allocation 14 Funds of the Foundation 4 Supporting Organizations 15 Grants/Loans of the Foundation 7 Statement of Financial Position 16 2006 Scholarship Recipients 11 Statement of Activities 17 2006 ETF Annual Record 12-19-2007.pmd 2 1/7/2008, 12:13 PM A Letter from the Board Chair & President “Twenty years ago, a small group of people who cared about the future of Knoxville and East Tennessee, created East Tennessee Foundation. Their idea was to assemble a large sum of money to be overseen by an active board of local citizens to be used for the good of the community - forever.” Mark K. Williams Michael T. McClamroch Board Chair President & CEO ETF Celebrates 20 Years of Making a Difference Twenty years ago, a small group of people of what East Tennessee Foundation can be in 2016 or who cared about the future of Knoxville and East even 2026. Tennessee, created East Tennessee Foundation In addition to being our 20th Anniversary, 2006 (ETF). Their idea was to assemble a large sum of was, in itself, a banner year for the Foundation. We money to be overseen by an active board of local launched the Literacy Fund for East Tennessee and citizens to be used for the good of the community - began making grants for family literacy programs. We forever. There would be a large enough asset base to awarded over $22.5 million in grants and accepted over get good financial management and the monies $24.4 million in gifts. We added 25 new component would always be directed toward the most important funds, giving us 317 funds, 11 supporting foundations, needs of the time - even when the donor was no and 12 affiliate funds serving 25 counties. Since 1986, longer around to ensure it. Their vision has now ETF has thoughtfully invested more than $138 million become a reality. With 317 charitable funds, East in the future. We are especially proud of the fact that Tennessee Foundation has become East Tennessee’s our team has been able to accomplish all of this with an largest vehicle for philanthropy and through its operating budget of less than 1% of our assets. numerous nonprofit partners, has quietly The six regional focus group meetings held as transformed this region. part of our 20th Anniversary, identified many consis- An anniversary can be a time for reflection – tent needs and opportunities that will make a difference celebration – and wondering about things that can in East Tennessee. Our future holds many challenges as be. And so it is with East Tennessee Foundation as we work to meet those needs and take advantage of the we marked our 20th Anniversary. The 20th opportunities to make communities stronger and lives Anniversary Celebration theme was “Valuing Our better. But, we are confident that with the continuing Past – Celebrating Our Present – Envisioning Our support of our region, the challenges will be met. Future.” Should you have any questions, we encourage We “Valued Our Past” with special articles in you to call (865) 524-1223 or visit our website our newsletters written by people who made our www.easttennesseefoundation.org. history and we created an ETF history DVD. We “Celebrated Our Present” when six regional focus Sincerely, groups met to assess needs and opportunities in our service area and propose ideas and strategies that Mark K. Williams, ETF Board Chairman will improve future quality of life. And there was a Michael T. McClamroch, President & CEO celebration event where we “Envisioned Our Future.” Part of the event program was a creative presentation by a storyteller of focus group ideas that will give us our roadmap for the future, a vision Page 1 2006 ETF Annual Record 12-19-2007.pmd 3 1/7/2008, 12:13 PM WHAT IS EAST TENNESSEE FOUNDATION? East Tennessee Foundation is a 501 (c)(3) non- profit, publicly supported community foundation serving 25 counties in East Tennessee. Our mission is to build charitable resources to make communities stronger and lives better through thoughtful giving. To this end, the Foundation serves as a vehicle for philanthropy by connecting donors with the causes they care about most. A wide variety of assets in any amount can be accepted to serve almost any charitable purpose. The Foundation is a collection of hundreds of individual charitable funds and supporting organizations estab- lished by individuals, families, businesses, and other nonprofits and foundations. Established in 1986 through a merger of the Community Foundation of East Tennessee and the Business Trust for the Arts, the Foundation is governed by a volunteer board of directors composed of leaders from throughout the region and managed by a profes- sional staff. Under the watchful eye of the Board and staff, assets are wisely invested to provide a valuable source of grantmaking dollars for important projects and programs in our region, as well as elsewhere in the nation and the world. EAST TENNESSEE FOUNDATION DOES THREE THINGS: Receives Assets Manages Resources and Makes Grants Anyone can be a donor, and Invests Money A portion of the assets makes donations can consist of almost The assets are pooled and invested lives better and strengthens the any asset of value. Philanthropy under the watchful eye of a volunteer communities of East Tennessee doesn’t require great wealth, board of directors and an investment by providing grant monies for and it doesn’t have to be compli- committee made up of local leaders nonprofit projects and programs cated. The Foundation is a and investment professionals. for nonprofit organizations. The collection of hundreds of funds remainder stays in funds to established by individuals, grow and provide future grants. families, businesses, and other nonprofits. These funds can be endowed or nonendowed. Page 2 2006 ETF Annual Record 12-19-2007.pmd 4 1/7/2008, 12:13 PM 20th Anniversary Celebration At East Tennessee Foundation’s (ETF) annual meeting in January, 2006, an enthusiastic group of 20th Anniversary Task Force members (Marie Alcorn, Howard Blum, Betsey Bush, Henrietta Grant, Jenny Hines, Mark Jackson, Marian Oates, Judge Ken Porter, Carol Transou, Chair, and staff members, Mike McClamroch and Jackie Lane) “rapped” the announcement of our 20th Anniversary Celebration. The task force carried forth the theme of “Valuing Our Past – Celebrating Our Present – Envisioning Our Future” in a variety of ways throughout the year. Celebration plans included special articles in our newsletters, creating DVD’s about the Foundation and its history, and, of course, a party! But when the celebrating ended and we were ready to ring in 2007, we wanted to have our roadmap for the future, a vision of what East Tennessee can be in 2016 or even 2026. All year long we endeavored to “Value our past – Celebrate our present – Envision our future.” Throughout the summer, six visioning groups met across our region and focused on questions such as: What are our greatest strengths/ challenges in East Tennessee? And, what do we want to be We rapped, had a party, known for in the year 2026? The conversation was vigorous, enlightening, and across the region, surprisingly consistent. and told a story! The group’s visions were given as “raw material” to Elizabeth Rose, a professional storyteller. Elizabeth used the information 20th Anniversary to entertain, engage, and challenge those present at our Celebration at celebration event with a fictional vision of our region in 2026. It Two Rivers Pavilion was the perfect way to value … celebrate … and envision. TOTAL ASSETS OF TWENTY YEARS OF EAST TENNESSEE EAST TENNESSEE FOUNDATION FOUNDATION GRANTMAKING Page 3 2006 ETF Annual Record 12-19-2007.pmd 5 1/7/2008, 12:13 PM Economic Development Fund for East Tennessee The following is a listing of all Scholarship and Elizabethton/Carter County Community Award Funds during 2006: FUNDS OF THE Foundation Fund Coach Jack Blair Scholarship Fund Fund for Etowah and McMinn County Ruby A. Brown Memorial Scholarship Fund Fowler Operating Endowment Fund BWXT Y-12 Scholarship Fund FOUNDATION Marilyn L. Frank Opportunity Fund Vera and Lawrence Carson Scholarship Fund Fund for Greene County Karolyn King Carter Scholarship Fund Fund for Greene County Operating Endowment Children’s Educational Opportunity Scholarship John D.
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