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make more possible

2007 Annual Report

Table of Contents

Letter from the Co-Chairmen


Most Recently We Have


Local Health Care Initiative


Community Grants


Bright Futures




One to One Quest Scholarship




New Naturita Library


Forever Telluride






Wilson Peak Access Preservation


Statement of Financial Position


Board of Directors


Expense Trend & Service Area




Mission Statement


Strengthening the Community


Dear Telluride, At the Telluride Foundation, there are three critical things we do: make cash grants to regional nonprofits and community groups; work with nonprofits to improve their efficiency and build their capacity; and develop and manage initiatives that address unmet and emerging needs. We accomplish this with a single goal in mind - maximizing the impact of our donors’ gifts to serve our mission of “improving the quality of life for residents, guests and the workforce of Telluride.”

The generosity of our donors and the great work of our community groups have helped us make impressive progress over the past eight years. During that time our total grants have exceeded $10 million. In 2007, we awarded the largest amount in our history to local community groups – over $2.4 million. Through board-driven “Special Initiative” grants, we approved over $450,000 for three exceptional projects in 2007: the San Miguel Resource Center to purchase permanent office space; the Trust for Public Lands for acquisition of a conservation easement to re-open public access to Mt. Wilson; and an Alternative Futures Study of the region to provide fact-based information on long-term economic, ecological and community impacts of current and projected trends. Amazingly, the Foundation achieves this and more without an endowment. Instead, we raise money every year from our local residents, second homeowners and visitors. We invest those gifts in programs and projects that demonstrate real outcomes and impacts. One of the key indicators of a nonprofit’s efficiency is the ratio of what it spends directly on its mission to what it spends supporting that mission. For the Telluride Foundation, this is measured by the amount of every dollar spent on grants, initiatives and capacity building efforts versus administration and fundraising. The Foundation’s 89% ratio of program to supporting expenses compares favorably to such esteemed nonprofits as Habitat for Humanity (78%), The Nature Conservancy (79%), Mile High United Way, Denver (82%), Animal Humane Society (76%) and NPR (78%), to name a few. On behalf of the Board of Directors, we extend a warm thanks to all our generous donors and community groups that make Telluride such a special place.

Make more possible

Sincerely yours,

Mark Dalton Co-Chairman Telluride Foundation

H. Norman Schwarzkopf Co-Chairman Telluride Foundation Retired, US Army General

The Telluride Foundation

180 children have been screened and treated since the inception of the cavity prevention program in July 2007.

Local Health Care Initiative


Daniela Garcia, a precocious 6 year–old girl, who loves to giggle, play with her friends and finger paint, has a beautiful and healthy smile. However, Daniela’s smile wasn’t always so bright due to a mouth full of cavities and cracked fillings. Daniela’s mother Minerva could not afford to bring her to a dentist even though Daniela complained of the pain. That all changed with the launch of the San Juan Kids Cavity Prevention Program—a mobile dental clinic that provides free or reduced rates for dental hygiene screenings. “It was so hard to hear my daughter complain about pain in her mouth and not be able to afford a visit to the dentist. This program means so much to my family, and I am so grateful. Daniela’s cavities are fixed, and we learned about proper oral hygiene to prevent additional ones in the future.”

• Established with a $300,000 three-year grant from the Colorado Health Foundation, the Local Health Care Initiative identifies and develops solutions to urgent and practical healthcare needs to improve the health of the residents of San Miguel, Ouray and Western Montrose counties. • The initial programs established include a healthcare services directory, medical transportation service, tobacco education and prevention program, CPR/public AED program and training, Latino Preventive Healthcare Fund, San Juan Kids Cavity Prevention Program and entitlement enrollment program. • In just the first three months, 81 people utilized the complimentary, non-emergency medical transportation service to physician offices, hospitals and dentists.

Minerva and Daniela Garcia

The Telluride Foundation

$1 invested in early childhood development returns $7 in increased wages, reduced crime and other societal benefits.


Bright Futures For the past 26 years Elaine Fischer has given back to the Telluride community as a Telluride Town Council member, Mayor, Chair Person of the Historical Architecture Review Committee (HARC) and is now serving as County Commissioner. Through her political involvement, Elaine is very in tune with important and pressing issues on a local and national level such as child care and early childhood development.   “Children in the U.S. aren’t receiving adequate education and training in order to compete in our global economy. I’m a strong proponent of developing initiatives that focus on early childhood development that will give our children a head start and ultimately build a highly skilled and educated workforce.”

• The Bright Futures Initiative focuses on several critical areas that promote early childhood development including child care quality improvement, specialized training for child care providers, a resource and referral system to help parents find quality child care in the region, and a Parents as Teachers Program, which provides family outreach through home visits. • In conjunction with the Bright Futures Initiative, the second annual Economic Summit on Early Childhood Investment will be held in Telluride in September 2008. Business leaders, noted economists and scholars will convene to strategize on developing policies and practices that make the successful development of children the top economic priority of the U.S., ultimately generating a more productive workforce and enhancing the nation’s economic success in terms of GDP and job growth.

County Commissioner Elaine Fischer The Telluride Foundation

Adults with a bachelor’s degree nearly double their earning potential.

One to One Quest Scholarship Program


Thanks to a scholarship from the One to One Quest Scholarship program, Vanessa Northurup’s dream of going to college to pursue a degree in business management has become a reality. Vanessa, who has lived in Telluride and participated in One to One since she was 8 years old, is now a freshman at Fort Lewis College in Durango. Without the financial assistance from the One to One Quest Scholarship, college wouldn’t have been possible. “I’m the first member in my family to go to college. I want to be a positive role model for my brother, and I hope he follows in my footsteps as having a college degree creates so many more opportunities and will have a tremendous impact on my future.”

• One to One provides mentoring experiences for children, ages 5-17, in San Miguel County and addresses multiple issues for the under-privileged children in our region including crossing language and cultural barriers, providing an extended family and networking families into community resources. As children become involved with a mentor, they are less likely to drop out of school or be involved with drugs or alcohol. • The Quest Scholarship program was established in 2007 by an endowment from Bill and Debbie Carstens. • The Quest Scholarship program, a new component of One to One, provides full, fouryear college scholarships to exceptional local children who wouldn’t have the means to attend college without financial assistance. • The Quest program targets potential scholarship recipients as early as middle school to ensure they stay on the right track for a college degree.

Vanessa Northurup

The Telluride Foundation

Naturita’s per capita income is $13,867 which equates to 57% of the state average.


The New Naturita Library When Susan Rice, Program Coordinator, opens the doors to the new Naturita Library for the first time, she will beam from ear to ear, knowing it will usher in a brighter future for a community that has struggled for many years. “The new library will have a profound affect on our community. Naturita is isolated more than geographically and the library gives opportunity to open the door to the world of information and ideas. Our library fosters interest in lifelong learning and is dedicated to enriching the quality of our community by creating an educational environment.”

• In December 2007, the Telluride Foundation granted $80,000 from its Special Initiatives Fund to the New Naturita Library to complete the final phase of construction. Telluride Foundation funds were matched by area residents through a property tax increase approved by 80 percent of Naturita voters; the Montrose Regional Library District contributed $150,000 while residents and businesses contributed $60,000 towards the project. • Prior to the 1980s, the economy of Naturita was fueled by uranium mining. Since the collapse of the uranium industry, Naturita has faced economic challenges due to the lack of sustainable industry and its remote location. There are very few jobs in Naturita—the majority of the population commutes to Telluride to work service industry jobs. • The current Naturita library, serving approximately 1,000 residents in Naturita and surrounding areas, is only 500 square feet. The new 4,000 square-foot building will enable a dramatically expanded collection of books and increased programming for children and adults and serve as a “town common” or community center.

Susan Rice The Telluride Foundation


English language skills acquisition for immigrants is directly tied to upward economic mobility.



After a two-year stint in Columbia, South America, long-time local Don Mitchell knows firsthand the challenges associated with learning a second language. A teacher for the past 15 years, Mitchell is utilizing his classroom expertise and recent life experience in his new position as Language Services Coordinator for OneTelluride. With a burgeoning immigrant population, Mitchell is hard at work reestablishing ESL adult classes, planning informal conversation groups and launching a family literacy program through the Wilkinson Library, just to name a few. “The primary focus of the language services program is to increase the number and ability of English as second language speakers in the community as well as to nurture more effective two-way communication in the community.”

• Funded by a substantial grant from the Colorado Trust and contributions from towns of Mountain Village and Telluride, San Miguel County and Telluride Mountain Village Owners Association. OneTelluride is an initiative established to better integrate its immigrant population. • OneTelluride focuses on finding solutions to immigrant challenges in six areas—health care, business and employment, law enforcement, housing and transportation, culture, community and education. • ESL classes, an interpretation/translation services and cultural outreach programs are currently offered through OneTelluride with the ultimate goal of establishing a cultural resource center.

Don Mitchell


The Telluride Foundation

Over 500,000 people climb Colorado’s 54 “14ers” annually.


Wilson Peak Access Preservation When Sheryl Tishman, her husband Dan and two sons discovered Telluride 12 years ago, she immediately fell in love with the active and environmentally aware community as well as the grandeur of the San Juan Mountains. They have been part-time residents ever since. Sheryl, an outdoor enthusiast, has been dedicated to land conservation causes for many years and was a strong proponent of restoring public access to the Wilson range through Silver Pick Basin. “Climbing Mt. Wilson is a truly unique and unforgettable experience that all avid hikers should be able to enjoy without worrying about access issues.” “Too many places, especially in the west, have fallen victim to some level of environmental degradation. I grew up in a rural environment and I think that protection of natural ecosystems and wilderness areas are essential for not only our health but that of our planet.”

• With a $150,000 Special Initiative grant from the Telluride Foundation, the Trust for Public Land purchased a critical 220-acre parcel in Silver Pick Basin, west of Telluride. • Conservation of this 220-acre parcel was imperative as the landowner had blocked the best access to three 14,000-foot peaks in the Wilson Range for several years and had plans to conduct mining operations on the land. • The Trust for Public Land conveyed the Mt. Wilson-Silver Pick property to the U.S. Forest Service for permanent conservation, preventing mineral development and restoring access to Mt. Wilson, Wilson Peak and El Diente.

Sheryl Tishman The Telluride Foundation


Board of Directors

True leaders earn this responsibility with strength of character, hard work and compassion for those who empower them with their trust.

The Telluride Foundation is honored to count these individuals among its Board of Directors: General H. Norman Schwarzkopf Retired US Army General, Co-Chairman Mark Dalton President, Tudor Investment Corporation, Co-Chairman

Stu Fraser Mayor, Town of Telluride Bunny Freidus Community Activist

Ron Allred Former Chairman, Telluride Ski & Golf Co.

Tully Friedman Chairman & CEO, Friedman, Fleischer & Lowe

Mike Armstrong Former Chairman & CEO, AT&T

Ken Gart Chairman, Specialty Sports Venture, LLC

Ed Barlow Senior Partner, Whatcom Partners

Bill Gershen Owner, Vanguard Industries

Lynne Beck Finance Director, Town of Telluride Richard Betts Owner, ASAP Accounting & Payroll Harmon Brown Retired, Restaurateur Joanne Corzine Developer, West Meadows


Elaine Fischer Commissioner, San Miguel County

Allan Gerstle Director, San Miguel, County Social Services Ron Gilmer Chair, Telluride Commission for the Arts & Special Events Tom Hill Vice Chairman, Blackstone Kevin Holbrook Realtor, Peaks Real Estate

Kim Day Retired, Private Investor

Richard Holbrooke Former U.S. Ambassador to the U.N.

Bob Delves Mayor, Town of Mountain Village

Chuck Horning Principle, Telluride Ski & Golf Resort

The Telluride Foundation

Paul Major President & CEO, Telluride Foundation Tricia Maxon President, Community Banks of Colorado, Telluride Melanie Montoya Community Activist Brian O’Neill Realtor, Telluride Properties George Parker Attorney, Bracewell & Giuliani Dick Rodgers President, Telluride Wells Fargo Bank Mary Rubadeau Superintendent, Telluride School District Susan Saint James Actress, Special Olympics Board Member Ed Sheridan Retired, Private Investor Bob Trenary Retired, Private Investor Sheila Wald Community Activist Stephen Wald Retired, Private Investor


Donors Our donors are the heart of the Telluride Foundation and as such, the heart of our regional community. For this we are sincerely appreciative.

Gold Hill

Brian & Hilaree O’Neill

Ock & Joanie Peterson

Paul & Tina Allaire

Don & Nancy Orr

Jock & Ellen Pillsbury

Erin Amini & Walter Wright

John & Terri Prunskis

Michael & Marilyn Ratner

Mike & Ashley Bradley

Lawrence & Joy Ramaekers

Carl & Francesca Rehnborg

Paolo & Carmela Canclini La Piazza Ristorante

Richard & Linda Rodgers

Frank & Bee Reichel

Mark Rosenthal & Shoshannah Pollack

John & Carolyn Snow

Mr. Mickey Salloway

Harley & Sheryl Tropin

James & Judy Singleton

Robyn Dinwoodie Wolf

Bob & Jenny Delves Bill Fandel Jeffrey & Debra Resnick

Your generosity and commitment allow the Foundation to do its work to support, nurture, champion and advocate for the Telluride regional community.

John & Laura Shields Lary & Sally Simpson Norma Upshur & Jeff Farmer Bruce & Laura Van Wagner Harlan & Carol Waksal

These individuals and companies help to make more possible:


Bill & Gail White

Friends of Telluride

Bruce & Bridgitt Evans

Henry & Susan Samueli

Ron & Joyce Allred

Davis & Bobsey Fansler

Richard & Barbara Schell

Alpine Bank

Tully & Elise Friedman

H. Norman & Brenda Schwarzkopf

Curt & Libba Anderson

Bill & Debra Gershen

Nelson & Sharon Sharp

Mike & Anne Armstrong

Ted Herrick

Edward & Darenda Sheridan

Bank of Telluride/US Bank

Tom & Janine Hill

Martin & Marlene Silver

Ed & Frances Barlow

Chuck Horning

Pamela H. Smith

Barney & Carol Barnett

James Johnson

Patricia Sullivan

Marc & Sharen Berman

Michael & Rebecca Jusbasche

Telluride Sports

Darren & Julie Blanton

Ron Kurucz

Dan and Sheryl Tishman

Kevin & Mary Grace Burke

Paula Malone

Robert & Jane Trenary

John & Alice Butler

Marty & Tristin Mannion

Bill & Janet Urbach

Paul & Joann Claeyssens

Fletcher & Liz McCusker

Stephen & Shiela Wald

Community Banks of Colorado

Daniel & Brooke Neidich

John & JoAnn Weisel

Charles & Nancy Conner

George & Julie Parker

Jim & Sheila Wells

Brian and Karen Conway

The Peaks


Steven Plofker & Bobbi Brown

Ms. Joanne Corzine

Lee & Artie Richards

Mark & Susan Dalton

Barbara Parish & Gary Roberts

Kim & Kim Day

Bob & Winnie Roloson

Dick Ebersol & Susan Saint James

Stuart & Valarie Ross

The Telluride Foundation

Mollye Wolahan

Your generosity has enabled over $100,000 in medical assistance through the Good Neighbor Fund.

Lynne Tryon Smalley Dawn Taylor


John Temple & Judith Gittinger

Carol & Neal Armstrong

David & Julie Vaughn

Mike & Ashley Bradley

Tom & Eppi Waldin

Stuart & Joanna Brown

Wells Fargo

Charles & Sue Cobb

Erving & Joyce Wolf

Tracey Esherick

Jack & Janet Wolinetz

Stephanie Fanos

Bridal Veil Keith & Linda Beaty

Kathleen Fisher First Tracks

Mikey Herring & Jim Phelps

Michael & Jane Badger

John & Sandra Horvitz

John & Beverly Baker

Ken & Pat Krueger

Richard Betts

Las Montanas

Charles & Virginia Bowden

Vincent & Anne Mai

Gary & Ilona Cantor

Art & Paige Nagle

Lars & Annie Carlson

The Mountain Lodge at Telluride

Rosie Cusack

Andrew & Debra Rachleff

Andrew & Ziva Dahl

Jonathan & Rebecca Radford

Neal & Karla Elinoff

Mary & Bob Rubadeau

Erik & JosephineFallenius

Ron & Fran Schwarz

John & Ellen Grimes

Steve Stagner & Lisa Anderson

Matthew Hintermeister

Jonathan & Tiffany Sweet

Kevin & Kristin Holbrook

Richard & Anna Teerlink

Maynard Howe & Maureen Pechacek-Howe

Peter Welles

John & Victoria Irwin Jim Jenkins

Peter Jamar

Lawrence & Meg Kasdan

Betsy Lindsay

Bill & Lucy Kingsford

Paul & Lois Major

Casey & Megan McManemin

John & Lori Perpar

A. MacDonald & Ellen Caputo Mr. and Mrs. John Mike M. Cohen Roy & Diana Conovitz Robert Dempsey & Suzanne Dahl Stephen Farish III Charles & Barbara Ferguson Bunny Freidus & John Steel Hank & Carol Hintermeister Thomas Hoeller &. Lisa Ungar-Hoeller Richard Holbrooke & Kati Marton Donald Hootstein & Belinda Walters Fairmont Heritage Place Franz Klammer Lodge John & Lulu Hunt Jr.

Joseph Wood Aleta & Paul Zoidis

*Donors as of 12/31/07

The Telluride Foundation


Up Lift

How We Strengthen The Community •

Strengthened local nonprofits’ skills by providing seminars and workshops

in grant writing, accounting, scholarships and board development. •

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


The Telluride Foundation

and their children (ages 0-5 years) who are at risk of entering school lacking ageappropriate development skills.

Developed new sources of funding for the region resulting in grants of over $1,000,000 to the Telluride Foundation from private grant making foundations.

Developed the Bright Futures Early Childhood Development Initiative to assist parents

Received a five 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. The Telluride Foundation


Most Recently We Have •

Granted the largest amount ever in 2007 to local community and non-profits groups.

Approved three new “Special Initiative” grants for over $450,000 including funding the San Miguel Resource Center to purchase permanent office space; the Trust for Public Land to acquire a conservation easement to re-open public access to Mt. Wilson; and an Alternative Futures Study of the region to provide factbased information on long-term economics, ecological and community impacts.

Received a four-year $300,000 grant from the Colorado Trust for the purpose of immigrant integration. This initiative, called OneTelluride, is based on a comprehensive community planning process and will include an immigrant resource office, English language acquisition programs and adult literacy programs.

Received a three year $285,000 grant from the Caring for Colorado Foundation to provide children, ages 2-12, with an oral health program. Of the 1,800 children in the region, many have never seen a dentist and this program will bring a complete oral health program to their schools.

Expanded our early childhood efforts to include a national conference co-hosted with the Pew Charitable Trust called the Telluride Economic Summit on Early Childhood Investment. It was


the first ever conference to focus on the underlaying economics of investment in early childhood. Speakers at the Summit included the Governors of Colorado, Montana and Kansas, the Lt. Governor of Colorado and the Mayor of Denver to name a few.

Our ratio of program vs. supporting expenses is 89%, a proud achievement in the nonprofit world, which averages 78.6%. The Telluride Foundation


Community Grants In just seven years, the Telluride Foundation has distributed over $3.6 million in community grants to more than 100 nonprofit organizations in the community.

Community grants are funded by our generous donors and awarded by our Board of Directors through a competitive grant process.


Grant History


Environment & Animal Protection 10%


(Represents community grants and donor restricted grants.)


Education 19% Early Childhood 18%


$0.7 01


Awarded 2007 Grants


Over $10.1 million in grants distributed in seven years.

Breakdown & Type of Organizations





Athletics & Sports 8%

Arts & Culture 22%

Human Services 23%


Dollar Amounts are in Millions

The Telluride Foundation


Community Grants

Through the generous support of our donors, we’ve made a real impact on childcare, education, health services, the environment and the arts.

Wright Stuff Foundation/ Prime Time Child Care

Telluride Academy $40,000

Ah Haa School for the Arts


San Miguel Resource Center


One to One


Telluride Ski & Snowboard Club


Bright Futures for Children and Families


Michael D. Palm Theater for PA (TSD)


Uncompahgre Medical Center


Telluride Adaptive Sports Program


Telluride Education Foundation


San Miguel Open Space Commission


New Community Coaltion


Telluride Society for Jazz


Pinhead Institute


Telluride Institute


Rainbow Preschool & Day Care Center


Telluride Early Childhood Center


Sheridan Arts Foundation


Telluride Medical Center




Midwestern Colorado Mental Health Center


MountainFilm in Telluride


Horizon Program


Telluride Repertory Theatre Company


Telluride Film Festival


Voyager Youth Programs


Telluride Dance Academy


Telluride Choral Society

Telluride Council for the Arts and Humanities

Telluride Historical Museum

University Centers of the San Miguel

$12,000 $10,000

San Miguel Juvenile Diversion San Miguel Educational Fund - KOTO Mountain Sprouts Preschool Telluride Youth Soccer Telluride Community Television Montrose County Health and Human Services Telluride Lizard Heads Hockey Club

$10,000 $10,000 $10,000 $10,000 $9,100 $9,000 $9,000 $8,000

Telluride Chamber Music Association


San Miguel Watershed Coalition


Paradox Valley School


Naturita Elementary School


Mountain Munchkins Daycare


Tomten Institute


Habitat for Humanities Steering Committee


Animal Humane Society of Ouray County, Inc.

Norwood/Redvale Ambulance


Telluride Music Fest


Telluride Writers Guild


Nucla -Naturita Senior Citizens Inc.

$2,000 $2,000

San Miguel Basin Gunnison Sage Grouse Working Group


Montezuma Land Conservancy

San Juan Riding Program


Girl Scouts of Colorado


Ridgway Schools


OutLoud Lecture Series



Sparky Productions


Telluride Mountain School


Telluride Preschool


San Juan Field School


Rimrocker Historical Society


Telluride Nordic Association


Holistic Health Resources of the San Juans


Grand Total

Dolores County Senior Services


Montrose County Senior Citizens Transportation, Inc


Telluride AIDS Benefit


Colorado Avalanche Information Center


Hilltop Community Resources, Inc


San Miguel County Nursing Services


Trust for Land Restoration


Weehawken Art Center


The Nature Conservancy


Top of the Pines


Angel Baskets


Telluride Youth Lacrosse Association, Inc


Telluride Montessori School



The Telluride Foundation funds are a validation of not just what we do but how we are striving to improve the community in a thousand different ways. 26

The Telluride Foundation

The Telluride Foundation


Gifts 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. Unrestricted Gifts

Restricted Gifts

By giving an unrestricted gift, donors can be

The Telluride Foundation has the following types

assured their charitable gift will always serve a

of restricted funds:

vital purpose, even as the community changes and evolves. Unrestricted gifts support the Foundation’s annual community grantmaking, nonprofit capacitybuilding, initiatives and community building activities. The generous individuals and families

Donor Advised Funds

Designated Funds

Field of Interest Funds

(listed on pages 18-19) have contributed to the

For each of these funds, the Telluride Foundation

Foundation’s multi-tiered donor program and enjoy

provides donors with regular fund statements,

a variety of exclusive benefits.

access to the expertise of Foundation staff,

This program consists of four levels: •

Friends of Telluride donors give a minimum of

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

$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.

The Telluride Foundation does not have an endowment. It’s strategy is to address issues and support the community with today’s dollars.


The Telluride Foundation


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. Cash

Planned Giving

Gifts of cash to the Foundation can be made by

Charitable giving affords you the unique ability to

check or credit card (when itemized, such outright

make your community what you envision it to be

cash gifts are generally deductible up to 50% of

while preserving personal, family or business wealth.

adjusted gross income). If the donor’s total gifts

There are great opportunities to make a difference

should exceed the limitation, the excess may be

through a variety of giving vehicles to match your

carried forward for tax purposes for up to five

own unique situation. Consult a qualified counsel for

additional years.

advice about your own situation.

Gifts of Real Estate


Real estate in the form of a residence, vacation

Including a charitable bequest in your will is

home, ranch or land may have significantly

a simple way to make a lasting gift to your

appreciated in value through the years so its sale

community. When you make this gift through the

would generate a sizeable capital gains tax. By

Telluride Foundation, we establish a special fund

making a gift of property, the donor avoids the

that benefits our community forever and becomes

capital gains tax and receives a charitable deduction

your personal legacy of giving. With a bequest, you

for the full fair market value of the property.

control the distribution of assets through a will or

Gifts of Stock Giving long-term appreciated stock offers a twofold 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 five-year carry forward. The Telluride Foundation reserves the right

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 specific future event. Gifts through bequests or trusts ensure that your charitable wishes will be fulfilled 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 and be a part of Forever Telluride

to review stock gifts.

The Telluride Foundation


A designated fund is a wise, and at the same time, generous choice.


A donor advised fund operates like a private foundation without the administrative burden. We’ve made it a family affair.

Donor Advised Funds

Designated Funds

Establishing a Donor Advised Fund with the Telluride Foundation is like creating a private foundation. The

Donors can create a fund to benefit a specific nonprofit organization. This fund can be established as an

donor has the power and flexibility to make recommendations for grants to specific nonprofit organizations

endowed fund (to remain in perpetuity), as an expendable fund (to be spent down over a specified number

from their fund — without the time, paperwork and administrative expense of running their own foundation.

of years) or as a one-time pass-through fund. For a permanent endowed fund, 5% of the fund’s net asset

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

value is granted to the organization each year.

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 specified 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. The Telluride Foundation currently manages the following Donor Advised Funds: •

Anne’s Rainbow Skate Fund

Andy Hanley Recreation Fund

The Ned & Diane Powell Fund

The Benchmark Fund

The Hoot Fund

The Price Family Fund

The Monika Callard Fund

The Knox Fund

Telluride Association of Realtors

Habitat for Humanity

The McManemin Family Fund

Town of Mountain Village

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 specific 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. The Field of Interest Funds that the Telluride Foundation manages are as follows: Equality in Health Initiative

Land Conservation Fund

West End Initiative*

Strives to increase health care

Supports open space preservation

Empowers under-served

competency and capacity for

and watershed protection.

communities in the west end

the Hispanic/Latino communities in the San Miguel and West Montrose counties.

OneTelluride* Supports programs that celebrate and integrate the Latino

San Miguel Kids Endowment

population into the Telluride

Endows funds for kids,


youth programs and college scholarships.

of San Miguel and Montrose counties with grant writing assistance to acquire financial resources for their services, programs and infrastructure. *Board Initiatives

Good Neighbor Fund* Assists San Miguel County

Bright Futures Fund*

residents who are experiencing

Supports early childcare programs

financial hardship.

for the working parents of the Telluride region. 32

The Telluride Foundation

The Telluride Foundation


Local Healthcare Initiative The Telluride Foundation was awarded a three-year grant from the Colorado Health Foundation to develop a “Local Healthcare Initiative” (LHI) for residents of Western Montrose, Ouray and San Miguel Counties to identify and address critical preventive healthcare services to improve the health status of the regions residents. The Foundation has since been award a three-year grant from the Caring for Colorado Foundation and annual grants from the Children Health Fund (New York) and the El Pomar Foundation. A total of 3,446 units of service were delivered in the first 12 months of operation.

Tobacco Education and Prevention Program

San Juan Kids Cavity Prevention Program

The State of Colorado has granted the LHI a grant

A collaborative agreement with the Forsyth Institute

to assist San Miguel Schools with youth tobacco

in Boston has resulted in the implementation of its

use prevention. In 2007 the project helped school

school-based cavity prevention program for children

administrators evaluate and modify their policies

ages 1-13. The Forsyth Institute program is evaluated

to aid in the prevention of tobacco use by students

by a National Institutes of Health Research Grant

and visitors.

that reports a 51% reduction in cavities in children

CPR/AED Training Through the assistance of a visiting cardiologist, 32 Automatic Electronic Defibrillators have been

after one round of treatment and near zero cavities with children after two rounds of care. LHI has established a children’s cavity prevention program in eight elementary schools.

Regional Medical Shuttle

Healthcare Services Directory

purchased by the Telluride Foundation and installed

Working with the San Miguel County Commissioners

An internet-based healthcare provider service

throughout the Telluride community to create a

Entitlement Enrollment Program

and the Children’s Health Fund — a free, weekly,

directory incorporating over 250 regional medical,

“Heartsafe Community” with readily available AEDs

As a component of the Cavity Prevention Program,

non-emergency transportation service to

mental health and dental providers has been

and a CPR trained population. To compliment this

a dental navigator function has been established

physician offices, hospitals and dentists — has

developed. The directory assists individuals seeking

effort, the LHI received support from the Telluride

through the Uncompahgre Medical Center. The

been established for residents in the service area.

services as well as providers looking for consultants

Association of Realtors to provide scholarships for

program is designed to enroll eligible children and

202 regional medical shuttle units of service were

to assist their patients. 2,014 residents consulted a

CPR/AED certification classes. Approximately 199

their families in Medicaid and the Colorado Health

provided to 19 medical and dental providers in

web-based Health Care Directory last year.

residents received CPR/AED certification.

Plan. To date, 45 children have been identified to

Montrose and Grand Junction.

Latino Preventive Healthcare Fund

qualify for entitlement programs.

A donor to the Telluride Foundation has established a targeted preventive healthcare fund to finance primary and secondary preventive healthcare services for Latino’s residing in the Telluride area. Over 590 Latino residents have received preventive health screenings for heart disease, diabetes, cancer, S.T.D.’s and dermatology.

Healthcare access, affordability and preventive care are the greatest challenges for people in rural communities.


The Telluride Foundation

The Telluride Foundation


Forever Telluride When you include a bequest provision in your estate plan, the Telluride Foundation will enroll you in Forever Telluride which honors those who make lasting gifts to the community.

It can be simple to create a will and to leave a legacy by contributing to an organization that means a great deal to you.

How do I leave a gift in my will for the Telluride Foundation?

We all leave our assets behind, but nearly 60% of us do so without knowing to whom. If you die without a

Many individuals set aside a certain dollar amount through their will. Others leave a percentage of their

will, the State of Colorado decides how your property will be distributed. Your will ensures that you are in

estate or any assets left after their family has been provided for. Some people give something they own,

control of those important decisions that will impact the people, places and things you care about most.

such as a car or their home. Others leave a paid-up life insurance policy.

Individuals and families who are committed to creating a stronger Telluride community and sustaining it for

Do I have control over how the Telluride Foundation will use my bequest?

future generations work through a planned gift or bequest to the Telluride Foundation to continue giving

Yes. You can specify whether you would like the assets to go toward our annual community grantmaking as

back forever. Your estate receives a charitable deduction for the full amount given, so your heirs pay no

an unrestricted gift, be assigned to a specific fund or organization of your choice or be used to establish a

estate tax.

new fund in your name (or any name that you choose). You can also specify whether the principal should be permanently invested, allowing the Foundation to spend only the annual earnings (endowed fund) or whether the Foundation may spend the principal amount of your gift at its discretion (expendable fund).

Ensure that your commitment to the community continues with a bequest to the Telluride Foundation through your will or trust.

Only 8% of Americans include charitable bequests in their will. 36

The Telluride Foundation

The Telluride Foundation


Investments The 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 diversification across a wide range of asset classes, including alternatives. The investment accounts include The Investment Fund for Foundations (TIFF) multi-asset fund and various fixed income vehicles.


In 2007 the Telluride Foundation achieved a 12.9% investment return. The Telluride Foundation


Statement of Financial Position Unrestricted

Temporarily Restricted


Revenue, contributions and support

The Telluride Foundation has secured over $1 million dollars from Colorado foundations for the region.

Individual contributions




In-kind contributions



Realized and unrealized investment gains/losses







Dividend, interest and other income



$ 9,879,290

$ 8,124,914

$ 6,179,997

Net assets released from restrictions



Total revenue, contributions and support




Cash and cash equivalents








Accounts receivable




Pledges and grants receivable, net of discount




Program services

Note receivable


— —

Grants and assistance programs

Other assets




Education and consulting

Property and equipment, net




Total program services

Support services

$ 1,125,079

Liabilities and Net Assets

$ 2,204,202

$ 1,887,051











Grants and accounts payable




General and administrative



Accrued liabilities




Total support services



Agency payable




Total expenses



Charitable gift annuity




Change in net assets 1,303,161 134,064


Net Assets

$ 7,675,088

$ 6,237,863

$ 5,054,918

Net assets, beginning of year 2,959,975 3,277,888






Temporarily restricted




Net assets, end of year




Total Liabilities and Net Assets

$ 9,879,290

$ 8,124,914

$ 6,179,997

* Pending final audit committee approval


The Telluride Foundation

The Telluride Foundation


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Expense Trend & Service Area The Telluride Foundation is a driving force in sustaining and improving the overall health and spirit of our community. The Foundation provides guidance and support for our caregivers, addresses unattended needs in the community and provides a forum for collaboration when needed. These charts demonstrate the Foundation’s improved efficiencies in delivering program services to our community in San Miguel County.



Service Area 89%

'# 89%

88% '


%$ 76%

68% $&

81% &

Expense Trend Graph 2007

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


$ " Montrose

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Ouray San Miguel Telluride

01  02 ! 03 " 04 # 05 $ 06  Programs (Grants & Education)

07 Dolores

Support (G&A, Development)

The Telluride Foundation


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.

Telluride Foundation 620 Mountain Village Blvd, #2B Telluride, CO 81435 970.728.8717 fax 970.728.9007

Paul Major CEO & President Annie Carlson Special Projects Heather Biggs Finance Director April Montgomery Programs Director Katie Singer Development Manager

Design by Proteus, Cover and Profile photography by Ben Knight, Landscape photography by Meg Bodnar,

Annual Report 2007 Final  
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