annual report 2006 final

make moreAnnual Report 2006

706862_TEL012_AR2006_R9_km.indd Sec1:1 6/28/07 11:12:40 AM

2

inside you will fi nd

Letter from the Co-Chairmen ..................................... 4

Nurturing .............................................................................. 6

Empowerment ................................................................... 8

Inspiration ............................................................................ 10

Confi dence .......................................................................... 12

Integration ........................................................................... 14

Beauty ................................................................................... 16

Board of Directors ........................................................... 18

Donors ................................................................................... 20

How We Strengthen the Community ..................... 24

Most Recently We Have ................................................ 26

Community Grants .......................................................... 28

Funds .................................................................................... 32

Gift Ideas .............................................................................. 42

Investments ......................................................................... 48

Statement of Financial Position ................................ 50

Expense Trend and Service Area .............................. 52

Mission Statement ........................................................... 53


3

Established to serve the interests of Telluride and the

surrounding community, the Telluride Foundation:

• Delivers the leadership and fundraising resources

necessary to deliver valued “quality of life” services

• Addresses unmet and emerging community needs

• Manages programs that strengthen local nonprofi ts

• Implements grant programs to improve the

community at-large


4

The $2.15 million granted to the community in

2006 is truly making a difference. Over $660,000

in Community Grants were distributed by the Board

through our annual competitive grants program;

the Telluride and Norwood school districts received

a $150,000 Special Initiative Grant for a drug and

alcohol counselor/curriculum advisor; $300,000

was directed towards the Local Health Care

Initiative; and fi nally the Foundation stewarded

over $1,000,000 in donor-directed grants.

We are maximizing every contribution from our

generous donors with continuous improvements

in operational effi ciency. Our supporting service

costs continue to be reduced so that over 90 cents

on every dollar that we spend goes back to the

community towards grants, initiatives,

dear telluride,It has been an exciting year at the Telluride Foundation, marked by many successes

such as granting over $2.15 million to local community groups, the launch of

our Special Initiatives Program, development of a local healthcare initiative and

establishment of an immigrant integration community planning process. The Telluride

Foundation recently received offi cial recognition for exceeding all of the National

Standards for U.S. Community Foundations, an endorsement that carries the highest

recognition for nonprofi t accountability, transparency and fi nancial responsibility.


5

capacity building and education. We are

leveraging your contributions, receiving a

15 times return in direct charitable impact

for every dollar spent fundraising.

Despite our recent successes, many

challenges lie ahead. Lack of affordable

housing, a burgeoning immigrant population,

a new medical facility and school are just a few

of the challenges we must meet in the near

future. We are confi dent that with your

continued support and guidance, the Telluride

Foundation can play an active leadership role

in shaping and supporting Telluride’s future.

A bright future with unlimited possibilities and

opportunities lies ahead. Make more possible.

Mark DaltonCo-Chairman

General H. Norman Schwarzkopf Co-Chairman

with warmest regards,


7

make more

Kevin Mesa loves to talk and

read — a drastic change from

the shy boy he was a year ago.

The progress Kevin has made

brings a smile to both his parents,

Morelia and Oscar, and also to

Deb Read, a parent educator

in the Bright Futures Program.

During her bimonthly home visits,

Deb works with ten families to

teach parents strategies that will

help their children. “I give parents

ideas of how to incorporate

developmentally appropriate

activities and learning on an

everyday basis,” she says. Deb

also helps with other issues that

arise. For example, she assisted

the Mesas in fi nding a dental

specialist for Kevin.

Some parents in the region, by

no fault of their own, lack the

proper tools to prepare their

children. As a result, children

risk entering kindergarten

lacking pre-literacy capabilities,

social skills and other crucial

developmental experiences. The

Bright Futures’ School Readiness

Initiative addresses these issues.

Established to assist working parents in the Telluride community, Bright Futures

improves the quality of children’s lifetime opportunities through affordable and

effective early-childhood care and education programs.

Deb Read with Kevin Mesa


8

make more

If the fountain of youth were

ever discovered, Dock Pulliam

wouldn’t need to drink from it.

At 93 years young, Dock is more

active than people half her age.

When she is not making quilts

and beautifully embroidered

items for her small business,

she volunteers her time for

the Montrose Senior

Transportation Network.

After living in Nucla for 52

years, Dock knows everyone

in town and 16 years ago she

decided to take the driver’s seat

of one of the Montrose Senior

Transportation vans. “I’ve worked

so hard because this is a vital

service and I want the vans to

run. There are people that rely

on them,” says Dock.

The transportation service is free

and enables seniors and persons

with disabilities to become

active once more. With their

regained mobility, they can once

again make it to every doctor

appointment, pharmacy run

or shopping trip they used to.

The Montrose County Senior Citizens Transportation was established 16 years ago, and

since then its vans have assisted seniors and disabled persons in Montrose County travel

to appointments, pharmacies, banks and other necessary errands.

Dock Pulliam


11When middle and high school

students in Norwood and

Telluride returned to school in

the fall, they noticed a new face

in the crowd: Sara Taylor, their

new drug and alcohol counselor.

A professional working with

adolescents with substance

abuse issues, Sara immediately

began to build an intervention

and prevention program from

the ground up.

Sara has developed a prevention

curriculum that incorporates

information about peer pressure,

refusal skills and ways to

deal with stress. “Clarifying

misperceptions decreases the

likelihood of children engaging in

substance abuse,” says Sara,

who relies on older students

to speak to their younger peers.

Sara counsels an average of

ten kids who have been referred

by parents, teachers or have

simply come to her on their own.

With Sara’s help Telluride and

Norwood’s schools are looking

at a brighter, drug-free future.

Established in 2006, Special Initiative Grants enable the Board of Directors to

proactively direct funds towards projects that will have a meaningful impact on the

Telluride community. With the fi rst-ever Special Initiative Grant, schools in the Telluride

and Norwood districts hired a drug and alcohol counselor.

make more

Sara Taylor


12

Scarlet Holvenstot

Three afternoons a week during

soccer season, Scarlet’s mom,

Linton, knows where to fi nd her

daughter — at the town park

enjoying soccer practice. Scarlet

has been playing for fi ve years

and is a perfect example of why

the Telluride Soccer Club is so

important to local youth.

“We need to keep kids busy,” says

Justin Chandler, Director of the

Telluride Soccer Club. “Sports

offer kids a positive alternative.

If a kid plays a sport, they are less

prone to use drugs and alcohol,

not to mention playing sports

boosts self-esteem and

self-confi dence.”

The Telluride Soccer Club works

with parks and recreations to

teach fundamental soccer skills.

The club has two goals — to

help players master the skills of

the sport they love, and more

importantly, to teach life lessons.

Providing an affordable, developmental soccer program for middle school kids and

opportunities for high school players to compete in seasons not sponsored by the

school, the Telluride Soccer Club utilizes soccer as a tool to teach positive behaviors

like sportsmanship, responsibility and teamwork.

make more


15

make more

The Latino Initiative was

established to provide services

to help integrate the Latino

population into our community

and to celebrate Latino culture.

Benito Cardenas, born and

raised in the United States,

knows fi rst hand the issues

facing Latino immigrants. His

understanding of place and

cultural differences makes him

the ideal person to spearhead

the launch of One Telluride, an

extension of the Latino Initiative.

The goal is to broaden the

conversation about and scope of

immigrant participation within

our community. “People are

actually talking about issues that

immigrants face and that is a

step in the right direction” said

Benito. The Telluride Foundation

received an initial grant of

$10,000 to develop a plan. Once

established, One Telluride will be

eligible to receive grants of up to

$75,000 per year for four years

to implement its plan addressing

housing, health care, education,

law enforcement, culture and

community, and employment.

Offering a place and programs, the Latino Initiative provides a welcoming lifeline

that translates easily into “You too are part of this community”.

Benito Cardenas


16

make more

Below red sandstone cliffs in the

heart of the Dolores River Valley,

the 300-acre Redburn Flying R

Ranch creates a stunning view

for travelers along the San Juan

Skyway. This ranch is not only

beautiful, but it also showcases

agricultural heritage, provides

vital wildlife habitat and is

an integral part of a working

livestock operation. Thanks to

Pat Redburn and the Montezuma

Land Conservancy, that will never

change. “I love looking down the

valley and seeing nothing but the

valley. I love coming home around

the curve in the road knowing it’s

always going to look like this,”

Pat proudly admits.

The Montezuma Land

Conservancy partners with

landowners to protect the

historic lands from development

with an agricultural conservation

easement (a voluntary agreement

between landowners and land

trusts that conserves open space

and wildlife habitat by limiting

development). Without these

efforts, the pristine open spaces

our generation enjoys today

would disappear.

Since 1999, The Montezuma Land Conservancy has partnered with 35 private landowners

to conserve more than 8,800 acres of important agricultural lands and wildlife habitats.

Thanks to their efforts, the scenic spaces of Dolores and Rico boast an untouched landscape.

Pat Redburn


18

General H. Norman Schwarzkopf

Retired US Army General,

Co-Chairman

Mark Dalton

President, Tudor

Investment Corporation,

Co-Chairman

Ron Allred

Former owner,

Telluride Ski Resort

Mike Armstrong

Former Chairman & CEO, AT&T

Ed Barlow

Senior Partner,

Whitcom Partners

Richard Betts

Owner, ASAP Accounting

& Payroll Services

Harmon Brown

Former Restaurateur

Joanne Corzine

Developer, West Meadows

Kim Day

Private Investor

Davis Fansler

Mayor,

Town of Mountain Village

Elaine Fischer

Member, San Miguel County

Commissioners

Bunny Freidus

San Miguel

Resource Center

Tully Friedman

Chairman & CEO,

Friedman, Fleischer & Lowe

Ken Gart

Chairman, Specialty Sports

Venture, LLC

Bill Gershen

Owner, Vanguard Industries

Allan Gerstle

Director, San Miguel,

County Social Services

Ron Gilmer

Chair, Telluride Commission

for the Arts & Special Events

Kevin Holbrook

Real Estate Broker,

Telluride Realty

Board of Directors

The Telluride Foundation is honored to count these

individuals among its Board of Directors:


19

Richard Holbrooke

Former U.S. Ambassador

to the U.N.

Chuck Horning

Owner, Telluride Ski Resort

Paul Major

CEO, Telluride Foundation

(ex-offi cio)

Tricia Maxon

President, Community Bank

Melanie Montoya

Advocate Manager,

San Miguel Resource Center

Joe Hideo Morita

Partner, Telluride Ski

& Golf Resort

Brian O’Neill

Real Estate Broker,

Telluride Properties

George Parker

Attorney, Bracewell & Giuliani

John Pryor

Mayor, Town of Telluride

Marilyn Tucker Quayle

President, BTC, Inc.

Dick Rodgers

President, Mountain

Village Wells Fargo Bank

Mary Rubadeau

Superintendent,

Telluride School District

Susan Saint James

Actress, Special Olympics

Board Member

Bob Trenary

Private Investor

Stephen Wald

Private Investor

James Wear

Founder, Wear, Travers,

Krueger & Perkins, P.C.


20

Donors

These individuals and companies help to make more possible.Donors as of 12/31/06

Friends of Telluride

Ron & Joyce Allred

Alpine Bank

C. Michael & Anne

Armstrong

Bank of Telluride

Ed & Frances Barlow

Barney & Carol Barnett

Sharen & Marc Berman,

The Skylark Foundation

Darren & Julie Blanton

Kevin & Mary Grace Burke

John & Alice Butler

Paul & Joann Claeyssens

Charles & Nancy Conner

Brian & Karen Conway

Cornerstone

Joanne Corzine

Mark & Susan Dalton

Kim & Kim Day

Bill & Becky Deupree

Dick Ebersol &

Susan Saint James

Bruce & Bridgitt Evans

Davis & Bobsey Fansler

Tully & Elise Friedman

Bill & Debra Gershen

Robert & Nancy Hayden

Herrick Family Foundation

Tom & Janine Hill

Joe & Lynne Horning

M. Charles Horning

James M. Johnson Fund

Michael and Rebecca

Jusbasche

Paula Malone


21

Fletcher & Elizabeth McCusker

Joe Hideo & Hiroko Morita

Daniel & Brooke Neidich

Barbara Parish & Gary Roberts

George & Julie Parker

The Peaks

Lee & Artie Richards

Bob & Winnie Roloson

Stuart & Valerie Ross

Henry & Susan Samueli

Richard & Barbara Schell

H. Norman & Brenda

Schwarzkopf

Tom Schwartz

Nelson & Sharon Sharp

Edward & Darenda Sheridan

Marty & Marlene Silver

Pamela Smith

Patricia Sullivan

Telluride Sports

Daniel & Sheryl Tishman

Bob & Jane Trenary

Bill Urbach & Janet

Effl and-Urbach

Stephen & Sheila Wald

The Robert T. Wall Family

Jim Wear

Jim & Sheila Wells


22

Gold Hill

Paul & Tina Allaire

Erin Amini & Walter Wright

Paolo & Carmela Canclini

Bob & Jenny Delves

Bill Fandel

Peter & Carol Sellon

Lary & Sally Simpson

Norma Upshur & Jeff Farmer

Laura & Bruce Van Wagner

Harlan & Carol Waksal

Bill & Gail White

Bridal Veil

Peter & Francine Cogen

Lou & Bonnie Cohen

Roy & Diana Conovitz

Bob Demsey & Suzanne Dahl

Fairmont Heritage Place

Franz Klammer Lodge

Stephen Farish

Charles & Barbara Ferguson

Bunny Freidus & John Steel

Bob Glah

Bob & Ana Greene

Hank & Carol Hintermeister

Thomas & Lisa Hoeller

Richard Holbrooke & Kati Marton

Don Hootstein & Belinda Walters

John & Lulu Hunt

Jim Jenkins

Lawrence & Meg Kasdan

Bill & Lucy Kingsford

Casey & Megan McManemin

Bill & Cheryl Nordstrom

Brian & Hilaree O’Neill

Don & Nancy Orr

John & Terri Prunskis

Lawrence & Joy Ramaekers

Dick & Linda Rodgers

Mark Rosenthal &

Shoshannah Pollack

Michael Salloway

John & Laura Shields

Jim & Judy Singleton

Lynne Tryon Smalley

Dawn Taylor

John Temple &

Judith Gittinger

David & Julie Vaughn

Tom & Eppi Waldin

Wolf Family - Ridgway

Jack & Janet Wolinetz

Donors (continued)


23

First Tracks

John & Beverly Baker

Richard Betts

Charles & Virginia Bowden

Lars & Annie Carlson

Alberto & Irene Casaretto

Rosie Cusack

Dr. Andrew & Ziva Dahl

Neal & Karla Elinoff

Erik & Josephine Fallenius

John & Ellen Grimes

Matthew Hintermeister

Kevin & Kristin Holbrook

Richard & Julie Houck

Peter Jamar

Betsy Lindsay

Paul Major

Maureen Pechacek

& Maynard Howe

John Perpar

Ock & Joanie Peterson

John & Ellen Pillsbury

Genevieve Plamondon

Michael & Marilyn Ratner

Sam & Francesca Rehnborg

Frank & Bee Reichel

Chad Scothorn

John & Carolyn Snow

Harley & Sheryl Tropin

Robin Dinwoodie Wolf

Patrons

Carol & Neal Armstrong

Mike & Ashley Bradley

Stuart & Joanna Brown

Charles & Sue Cobb

Tracey Esherick

Stephanie Fanos

Kathleen Fisher

Mikey Herring & Jim Phelps

John & Sandra Horvitz

Ken & Pat Krueger

Las Montanas

Vincent & Anne Mai

Art & Paige Nagle

The Mountain Lodge at Telluride

Andrew & Debra Rachleff

Jonathan & Rebecca Radford

Mary & Bob Rubadeau

Ron & Fran Schwarz

Steve Stagner & Lisa Anderson

Jonathan & Tiffany Sweet

Richard & Anna Teerlink

Peter Welles

Joseph Wood

Aleta & Paul Zoidis


24

� Strengthened local nonprofi ts’ skills by providing seminars and workshops in grant writing, accounting, scholarships and board development.

� Developed new sources of funding for the region resulting in grants of over $500,000 to the Telluride Foundation from private grant making foundations.

� Funded a new CT scan, computerized radiology, conversion from paper to digital medical records and a replacement x-ray for the Telluride Medical Center.

� Developed the Bright Futures Early Childhood Development Initiative to assist parents and their children (ages 0-5 years) who are at risk of entering school lacking age-appropriate development skills.

� Received a fi ve year $350,000 Equality in Health Care Grant to increase health care competency and capacity for the Hispanic/Latino communities in San Miguel and West Montrose counties.

How We Strengthen The Community

The Telluride Foundation has made a real impact and addresses real need.


The Foundation has granted

over $7.3 million in 6 years.


In 2006 the Foundation

granted over $2.15 million locally.


27

Most Recently We Have...

� Received a $300,000 three-year grant from the Colorado Health Foundation

to establish the Local Health Care Initiative, which identifi es and develops

programmatic solutions to urgent and practical healthcare needs to improve

the health of the residents of San Miguel, Ouray and western Montrose counties.

� Received an initial $10,000 grant from Colorado Trust to implement an

immigrant integration program called “Telluride One”. Following the planning

process, Telluride will be eligible to receive grants of up to $75,000 per year

for four years to implement its community plan.

� Launched a special initiatives grant program, which enables the Board to direct

grant monies in a proactive fashion for projects that will have a signifi cant and

meaningful impact on the Telluride community.

� Through a generous, anonymous gift, established the Latino Health Care fund,

which provides fi nancial assistance for preventative dental and medical services

to low-income and indigent Latino adults and children in the Telluride area.


28

Community Grants

Community grants are funded by our generous

donors and awarded by our Board of Directors

through a competitive grant process.

In just six years, the Foundation has distributed over $7.3 million in grants

to over 80 nonprofi t organizations in the community. Through the generous

support of our donors, we’ve made a real impact on childcare, education,

health services, the environment and the arts.


��

��

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��

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29

Breakdown & Type Of Organizations

Awarded 2006 Grants

Human Services

27%

Arts & Culture

25%

Athletics & Sports

7%

Early Childhood

12%

Education

18%

Environment

& Animal

Protection

11%

Grant History

Over $7.3 million

in grants distributed

in six years.

(Represents community

grants and donor

restricted grants.)

Dollar Amounts are in Millions


30

Education

Colorado Avalanche Information Center . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,000

Girl Scouts of Chipeta Council . . . 1,500

Horizon Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,500

Mushroom Festivalc/o Totem Institute . . . . . . . . . . . . . . . . . . . . . . . . . 3,000

Paradox Valley School . . . . . . . . . . . . . . . . . . . 6,000

Pinhead Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,200

Ridgeway Schools . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000

San Juan Field School . . . . . . . . . . . . . . . . . . . 6,000

San Miguel Educational Fund . . . . . 7,500

Telluride Academy . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000

Telluride Community Television . . 7,500

Telluride Education Foundation . 22,000

Telluride Historical Museum . . . . . . . . . 11,000

University Centers of San Miguel c/o High West Council . . . . . . . . . . . . . . . . . . 6,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 119,200

Athletics & Sports

Telluride Adaptive Sports Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 12,000

Telluride Lizard Heads Hockey Club . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000

Telluride Nordic Association . . . . . . . . 5,000

Telluride Ski & Snowboard Club . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000

Telluride Youth Lacrosse Association, Inc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000

Telluride Youth Soccer . . . . . . . . . . . . . . . . . . . 6,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 46,000

Early Childhood

Great Start Family Visitor Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,500

Mountain Sprouts Preschool . . . . . . . . 5,000

Rainbow Preschool & Day Care Center . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,000

Telluride Early Childhood Center . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000

Telluride Montessori School. . . . . . . . . . 4,500

Wright Stuff Community Foundation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 81,000

Community Grants

Arts & Culture

Ah Haa School for the Arts . . . . . . . . . $ 18,000

Michael D. Palm Theater for PA (TSD) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000

MountainFilm in Telluride . . . . . . . . . . . . . 18,000

OutLoud Lecture Series . . . . . . . . . . . . . . . 4,000

Sheridan Arts Foundation. . . . . . . . . . . . 20,000

Telluride Chamber Music Association . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000

Telluride Choral Society . . . . . . . . . . . . . . . . 10,000

Telluride Council for the Arts and Humanities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,500

Telluride Dance Academy . . . . . . . . . . . . 7,500

Telluride Film Festival . . . . . . . . . . . . . . . . . . . . 17,000

Telluride Music Fest . . . . . . . . . . . . . . . . . . . . . . . . 4,000

Telluride Repertory Theatre Company . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000

Telluride Society for Jazz . . . . . . . . . . . . . 11,000

Telluride Writers Guild . . . . . . . . . . . . . . . . . . . 2,610

Weehawken Art Center . . . . . . . . . . . . . . . . 1,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 171,610


31

Human Services

American Lung Associationof Colorado . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,000

Angel Baskets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000

Basin Clinic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000

Family Link Center . . . . . . . . . . . . . . . . . . . . . . . . . 5,800

Habitat for HumanitySteering Committee. . . . . . . . . . . . . . . . . . . . . . . 6,000

Hilltop Community Resources, Inc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000

Midwestern Colorado Mental Health Center . . . . . . . . . . . . . . . . . . . . . 10,000

Midwestern Suicide Prevention . . 2,500

Montrose County Health and Human Services . . . . . . . . . . . . . . . . . . . . . . 8,000

Human Services (Continued)

Montrose County Senior Citizens Transportation, Inc . . . . . . . . . 6,000

Norwood/Redvale Ambulance . . . 1,200

One to One . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,000

San Miguel Juvenile Diversion Program . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000

San Miguel County Nursing Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000

San Miguel Resource Center . . . . . . . 28,000

Telluride AIDS Benefi t . . . . . . . . . . . . . . . . . . . 4,500

Telluride Medical Center . . . . . . . . . . . . . . . 15,000

Uncompahgre Medical Center . . . . 20,000

Voyager Youth Program . . . . . . . . . . . . . . . 8,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 176,000

Grand Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 666,310

Environment& Animal Protection

Animal Humane Society of Ouray County, Inc . . . . . . . . . . . . . . . . . . . . . . $ 6,000

Atlas Arkology/Biodiesel Share Program . . . . . . . . . . . . . . 2,000

Colorado Mountain Club . . . . . . . . . . . . . . 5,000

Montezuma Land Conservancy. . 7,500

San Miguel Basin Gunnison Sage Grouse Working Group . . . . . . 2,000

San Miguel Open Space Commission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000

San Miguel Watershed Coalition 8,000

Telluride Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000

Totem Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,000

Town of Ophir . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 72,500

Norwood and Telluride School District . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 150,000

Total ...................................................... $ 150,000

Special Initiatives Grant


33

Funds

Because every donor has different needs and values,

the Telluride Foundation works with each interested

donor individually to create a giving opportunity that

is right for that person, family or company.


34

Unrestricted Gifts

By giving an unrestricted gift, donors can be assured their charitable gift will always

serve a vital purpose, even as the community changes and evolves. Unrestricted gifts

support the Foundation’s annual community grantmaking, nonprofi t capacity-building,

initiatives and community building activities. The generous individuals and families

(listed on page 20-23) have contributed to the Foundation’s multi-tiered donor program

and enjoy a variety of exclusive benefi ts.

This program consists of four levels:

� Friends of Telluride donors give a minimum of $100,000 over four consecutive years.

� Gold Hill donors give a minimum of $40,000 over four consecutive years.

� Bridal Veil donors give a minimum of $10,000 over four consecutive years.

� First Tracks donors give a minimum of $6,000 over four consecutive years.


35

Restricted Gifts

The Telluride Foundation has the following types of restricted funds:

� Donor Advised Funds

� Designated Funds

� Field of Interest Funds

For each of these funds, the Foundation provides donors with regular fund statements,

access to the expertise of Foundation staff, professional management and investment

of fund monies and increased knowledge of the Telluride community’s needs.


36

Donor Advised Funds

Establishing a Donor Advised Fund with the Telluride Foundation is like creating

a private foundation. The donor has the power and fl exibility to make recommendations

for grants to specifi c nonprofi t organizations from their fund — without the time,

paperwork and administrative expense of running their own foundation. A Donor

Advised Fund allows the donor to focus on charitable giving, while we handle the

administrative work. Additionally, with a Donor Advised Fund, the donor is able to take

an immediate tax deduction for full market value of appreciated assets and avoid capital

gains tax. This fund can be established as an endowed fund (to remain in perpetuity)

or as an expendable fund (to be spent down over a specifi ed number of years).

A Donor Advised Fund is an irrevocable gift to the Foundation while the donor

retains the explicit ability to advise the Foundation on distributions of grants

for charitable purposes.


37

“A donor advised fund operates like a private

foundation — without the administrative burden.

We’ve made it a family affair.”

Anne’s Rainbow Skate Fund

The Benchmark Fund

The Monika Callard Fund

The Bill and Debbie Carstens Fund

Corey & Shirley Fortenberry Fund

Habitat for Humanity

Andy Hanley Recreation Fund

The Hoot Fund

The Knox Fund

The McManemin Family Fund

Mountain Village Metro Services

The Ned & Diane Powell Fund

The Price Family Fund

Telluride Association of Realtors

Town of Mountain Village

The Telluride Foundation currently manages the following Donor Advised Funds:


38

“A designated fund is a wise, and

at the same time, generous choice.”

Designated Funds

Donors can create a fund to benefi t a specifi c nonprofi t organization. This fund can

be established as an endowed fund (to remain in perpetuity), as an expendable fund

(to be spent down over a specifi ed number of years), or as a one-time pass-through.

For a permanent endowed fund, 5% of the fund’s net asset value is granted to the

organization each year.


40

Initiative Funds

To date, the Foundation manages eight Field of Interest Funds (four of which are Board

Initiatives). These funds are established to raise money and pool investments to address

the needs of a specifi c charitable cause or geographic area. To establish a Field of

Interest Fund, donors contribute a minimum of $10,000 to the fund. Each fund is held

in a separate account and invested according to Foundation guidelines.


41

Bright Futures Fund*

Supports early childcare

programs for the working

parents of the Telluride region.

Good Neighbor Fund*

Assists San Miguel County

residents who are experiencing

fi nancial hardship.

Land Conservation Fund

Supports open space

preservation and

watershed protection.

Latino Initiative*

Supports programs that

celebrate and integrate the

Latino population into the

Telluride community.

San Miguel Kids Endowment

Endows funds for kids and

youth programs.

Telluride Medical Capital Fund

Improves and expands the scope

and sophistication of regional

medical capabilities.

West End Initiative*

Empowers under-served

communities in the west end

of San Miguel and Montrose

counties, with grant writing

assistance to acquire

fi nancial resources for their

services, programs and

infrastructure.

Equality in Health Initiative

Strives to increase health

care competency and capacity

for the Hispanic/Latino

communities in San Miguel

and West Montrose counties.

*Board Initiatives

The Field of Interest Funds that the Telluride Foundation manages are as follows:


43

Gift Ideas

As you review your tax planning, especially

at year-end, we hope you will consider making

good use of the income tax charitable deduction.

Here is an overview of some of the best gift ideas,

all of which can be used for an unrestricted gift

or to start a fund at the Foundation.


44

Cash

Gifts of cash to the Foundation can be made by check or credit card (when itemized,

such outright cash gifts are generally deductible up to 50% of adjusted gross income).

If the donor’s total gifts should exceed the limitation, the excess may be carried forward

for tax purposes for up to fi ve additional years.

Gifts of Real Estate

Real estate in the form of a residence, vacation home, ranch or land may have

signifi cantly appreciated in value through the years so its sale would generate a sizeable

capital gains tax. By making a gift of property, the donor avoids the capital gains tax and

receives a charitable deduction for the full fair market value of the property.

Gifts of Stock

Giving long-term appreciated stock offers a two-fold tax savings. First the donor

avoids paying any capital gains tax on the increase in value of their stock. In addition

the donor receives a tax deduction for the full fair market value of the stock on the

date of the gift. For income tax purposes the value of such gifts may be deducted

up to 30% of adjusted gross income, with an additional fi ve-year carry forward.

The Telluride Foundation reserves the right to review stock gifts.


45

Bequest

Including a charitable bequest in your will is a simple way to make a lasting gift to your

community. When you make this gift through the Telluride Foundation, we establish a

special fund that benefi ts our community forever and becomes your personal legacy

of giving. With a bequest, you control the distribution of assets through a will or trust.

Your estate receives a charitable deduction for the full amount given. A bequest can

be given by an amount, percentage of the estate, or contingent on a specifi c future

event. Gifts through bequests or trusts ensure you that your charitable wishes will

be fulfi lled with no risk of running out of money or undergoing a change of lifestyle

during your lifetime. And, in many cases, you can receive a substantial reduction

in federal estate taxes.

Planned Giving

Charitable giving affords you the unique ability to make your community what you

envision it to be while preserving personal, family, or business wealth. There are great

opportunities to make a difference through a variety of giving vehicles to match your

own unique situation. Consult a qualifi ed counsel for advice about your own situation.


46

Charitable Gift Annuity

Giving through a Charitable Gift Annuity allows you to arrange a generous gift to

your community, while providing yourself a new income source you can count on

for the rest of your life. In addition, part of the annuity payment is tax-free return on

principle. Unlike a bequest, you receive an immediate tax deduction for the charitable

portion of the gift. A charitable gift annuity begins with a donation of cash or another

form of accepted gift. A contract is established that combines immediate annuity

payments with a deferred charitable gift. The annuity payment is calculated based

on various factors such as age and current return on the market.

Charitable Remainder Trust

Giving through a Charitable Remainder Trust allows you to receive income for the

rest of your life, knowing that whatever remains will benefi t your community. With a

Charitable Remainder Trust, the donated assets are transferred into a trust rather than

to the Telluride Foundation. You receive an immediate tax deduction for the charitable

portion put into the trust. Upon your passing, the remaining assets are transferred from

the trust to the Telluride Foundation. There are two basic types of charitable remainder

trusts: charitable remainder annuity trust and charitable remainder unitrust. The annuity

trust pays a fi xed dollar payment each year for the life of the trust. The unitrust pays an

amount equal to a fi xed percentage of the market value of the trust, which is specifi ed

by the trust agreement.


47

The use of Charitable Remainder Trusts (CRT) and Gifts of Real Estate are gifts that pay.

A long-time, local couple purchased land in Telluride back in the 1970’s and was considering

selling it. However, if they sold the land they faced a 20 percent capital gains tax on a highly

appreciated asset. Rather than pay an exorbitant amount to the government in taxes, they

set up a charitable remainder trust with the Telluride Foundation. The income received from

the trust was much greater than income they would have collected from reinvestment and

resulted in paying less to the government. They received an immediate charitable deduction.

More importantly, they knew that when they passed, their money would help the community

they love. (This is not a true story but an example for illustrative purposes).

Tax consequences CRT Sold and Re-Invested

Net fair market value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,500,000 $ 1,500,000

Cost Basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A 50,000

Taxable Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A 1,450,000

Less capital gains tax @15% (Federal) . . . . . . . . . . . . . . . . . . . . . . . N/A (217,500)

Less capital gains tax @5% (CO State) . . . . . . . . . . . . . . . . . . . . . . N/A (72,500)

Net proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500,000 1,210,000

Charitable deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264,240 0

Tax savings (37% Tax Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97,769 0

Total investment returns after 30 year . . . . . . . . . . . . . . . . . . . . . . . . . 13,756,923 11,823,382

(with compounded interest)

Amount distributed to benefi ciaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,756,923 11,823,382

Remaining Amount given to charity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,363,752 $ 0


48

Investments

The Telluride Foundation assets are invested to manage

risk while seeking the best possible returns.

The Investment & Finance Committee implements a

stringent decision making process when considering

investments and continuously monitors all investments.

The investment strategy includes a long-term investment

view while providing liquidity and diversifi cation across

a wide range of asset classes, including alternatives.

The investment accounts include The Investment

Fund for Foundations (TIFF) multi-asset fund,

PIMCO Allianze Bond fund and money markets.


“In 2006 the total portfolio returned

an impressive 12.1% annualized rate of the return.”


50

2006 2005

Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,124,914 $ 6,179,997

Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,684,228 843,619

Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,405,614 2,857,401

Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,970 2,096

Pledges and grants receivable, net of discount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,997,033 2,432,568

Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,866 17,491

Property and equipment, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,203 26,822

Liabilites and Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,887,051 1,125,079

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,360,901 874,416

Accured liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43,866 28,986

Agency payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 380,091 103,606

Charitable gift annuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,193 118,071

Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,124,914 6,179,997

Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,959,975 2,113,023

Temporarily restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,277,888 2,941,895

Total Liabilities and Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,124,914 $ 6,179,997

Balance Sheet and Statement of Activities – 2006(Draft fi nancials pending audit committee approval)


51

Unrestricted Temporarily Restricted Total

Revenue, contributions and support

Individual contributions (Note 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 637,750 $2,804,722 $ 3,442,472

In-kind contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122,088 — 122,088

Dividend, interest and other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185,177 — 185,177

Total revenue, contributions and support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 945,015 2,804,722 3,749,737

Net assets released from restrictions

Satisfaction of activity restrictions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,468,729 (2,468,729) —

Total net assets released from restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,468,729 (2,468,729) —

Expenses

Program services

Grants and assistance programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,338,796 2,338,796 —

Education and consulting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191,920 — 191,920

Total program services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,530,716 — 2,530,716

Support services

Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 257,709 — 257,709

General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81,183 — 81,183

Total support services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 338,892 — 338,892

Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,869,608 — 2,869,608

Realized and unrealized investment gains/(losses) . . . . . . . . . . . . . . . . . . . . 302,816 — 302,816

Change in net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 846,952 335,993 1,182,945

Net assets, beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,113,023 2,941,895 5,054,918

Net assets, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,959,975 $3,277,888 $ 6,237,863


Delta

San Miguel

Montrose

Dolores

Ouray

Telluride��

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52

Service Area

The Telluride Foundation serves people living and/or working in San Miguel County.

Expense Trend Graph 2006


53

Mission Statement The Telluride Foundation is committed to preserving and enriching the quality of life of the residents, visitors and workforce of the Telluride region. The Foundation does this by providing leadership in philanthropy, strengthening community groups, serving as a responsible steward for entrusted funds and supporting activities that celebrate our unique community. The values we hold are passion, leadership, excellence, fairness, teamwork, accountability and knowledge.

Paul Major

CEO & President

[email protected]

Heather Biggs

Finance Director

[email protected]

Telluride Foundation

620 Mountain Village Blvd, #2B

Telluride, CO 81435

970.728.8717

fax 970.728.9007

telluridefoundation.org

Cover and profile photography: Ben Knight feltsoulmedia.com

Landscape photography: Meg Bodnar megbphotography.com

Annie Carlson

Development Director

[email protected]

April Montgomery

Programs Director

[email protected]

Design:

proteusdesign.com

annual report 2006 final

Documents

community grants

surrounding community

telluride foundation

local community groups

emerging community needs

interests of telluride

dear telluride

indd sec1