US Economic Trends

A Special Message to Stakeholders...

Dear Friends,

Through philanthropic donor services, strategic grantmaking, and constructive leadership, the Tipton County Foundation, your hometown community foundation, unites the gifts of many to sustain the causes that matter to all— now, and for all generations to come. As an organization that depends upon its investments to support charitable causes that benefit our community, the past year’s sharp and unexpected downturn in the economy may affect our ability to fund programs at normal levels in the coming year.

The Foundation Board of Directors and all the volunteers and staff involved in this work understand their duty and responsibility. The Board, its Finance/Investment committee, and our professional advisors have been monitoring changes in the market values of the Foundation’s invested assets. What we are experiencing now is a widespread decline of every kind of investment. Since no one can reliably predict when a consistent upturn may take place, now is not the time to abandon strategies that were well researched and have been effective. The Board has reaffirmed our prudent investment policy, which provides significant long-term growth and stability in normal market conditions.

Weathering a financial downturn takes courage, discipline, and faith. This is not easy, but repeatedly has been the key to financial success. Historically, markets tend to begin recovering before recessions end. Still, as mentioned above, no one can reliably predict when a consistent upturn may take place. The Foundation must also be prudent in its grantmaking, allocations to component funds, and other annual budget decisions. Given the continued volatility of the markets, we have not completed the revisions in our original plans for 2009, but the Board wants to be sure that our grantees, component fund contacts, and other major stakeholders are aware of our activity. Please be assured that we are working diligently to manage the effect of these financial times on TCF and those who depend on us for support, and we will keep you informed.

You play a very important role in meeting the needs of our community and improving the quality of Tipton County life. Your continued work is essential, and very much appreciated. We welcome your comments, questions, and suggestions. Frankly, your year-end giving will also be welcome. If you can send a check to TCF to benefit the United Community Fund or another component fund you wish to support, please let us know whether it should be used for grantmaking needs in 2009, or endowed to take advantage of the return of growth in investment markets. Thank you!

Sincerely,

Virginia L. Chambers, Chairwoman of the Board
Frank M. Giammarino, President & CEO