Telluride Foundation Annual Report 2012

t e l l u r i d e fo u n dat i o n a n n ua l r e p o r t | Vo lu m e 1 2

Make more possible

annual report | Volume 12

Philanthropy is changing. And so is Telluride.

The Foundation is in the middle of this change, working alongside its family of donors, citizens, nonprofits, and governments, to envision a better and stronger community. One that is built on the best practices of the past and present. One that incorporates innovation, inclusiveness, and accountability. And lastly, one that is designed to collectively address both current and future challenges and opportunities.

Dear Telluride,

When one thinks of Telluride, the first image that comes to mind is the inspirational natural beauty which is unique to our town. The second thought is a sense of pride in the community, its people, schools, social services, arts, sports, and general sense of well being. Over the years, the Telluride Foundation has played a critical role in the growth and prosperity of the community.

The Telluride Foundation’s mission is to celebrate our unique community and support its overall well being. In doing this, the Foundation makes cash grants to regional area nonprofits and community groups, works with nonprofits to improve their efficiency and build their capacity, and develops and manages initiatives that address unmet

and emerging issues that directly touch people’s lives. Although we have proudly accomplished much since our inception in 2000, there is still a lot to be done. Our mission of “improving the quality of life for residents, guests and the workforce of Telluride” is always kept at the forefront of our thoughts as we strive to reach our goals. Our grant making, capacity building, and initiatives are targeted and outcome-oriented.

Nonprofits require great transparency and oversight to gain and maintain donor and community trust. The Telluride Foundation is no different, and we are proud of our practices and policies. We have adopted the most effective practices for governance and financial oversight. One of the key indicators

of a nonprofit is the ratio of what it spends directly on its mission versus what it spends “supporting” its mission (the ratio of program vs. supporting expenses). In the Foundation’s case, it would be how much of every dollar is spent on grants, initiatives, and capacity building efforts vs. administration and fundraising. The Foundation is in the elite tier of our peers in the country for that measure, spending 88% of every dollar for programs.

As we move forward, we are always trying to improve our oversight and to find new ways to enhance the quality of life for our residents. Through our participation in arts and cultural, education, youth development and very importantly, social aid programs, we are continually striving to be an essential part of the Telluride community. We believe a new chapter will open as we initiate efforts to make Telluride a hub of new ideas and innovation.

We hope that you will enjoy this annual report and join us in our exciting and ambitious journey.

With warm regards,

Joanne Brown

Edward Barlow

Board of Directors,

Board of Directors,

Co-Chair

Co-Chair

Increasing School Readiness Grantmaking Outcomes for Early Childhood Development Organizations

As Albert Einstein said, “Not everything that can be

preparedness of a child to engage in and benefit from

counted counts and not everything that counts can be

learning experiences and the ability of a school to

counted.” However with children, we can and should be

meet the needs of all students in pre-school and kin-

measuring what counts. The most profound question

dergarten. The primary purpose of measuring readi-

we should be measuring for young children is: are they

ness factors is to inform instruction and intervention so

ready to progress in their educational journey to

that positive outcomes can be achieved.

achieve lifetime success?

The Telluride Foundation has embarked on an

It is universally known that failure to start school ready to learn has significant and potentially long-

initiative to link its grantmaking to measurable

term negative consequences for the child and society.

outcomes, meaning that funding can be tracked to

Generally, kids that start behind stay behind; interven-

measurable changes in behaviors, education, skills, or

tions must increase the slope of the developmental

participation. We want evidence for our donors, Board,

trajectory to catch-up. The indicators and interventions

and the community that our work and efforts lead to

to assure that children are school-ready are known and

changing peoples lives.

established.

The Telluride Foundation is heavily invested in early

In Colorado, estimates of the percentage of kinder-

childhood development organizations, having funded

gartners ready for school/ready to learn range from

over $1 million in grants to such organizations since

50%-70%. In one local school district, for example, the

2001. As such, the Foundation is interested in funding

English Language Learners are insufficiently prepared

early childhood development organizations that can

to progress in school: 60% are reading at grade level in

produce a collective outcome—improve children’s

kindergarten; 40% are proficient in reading during 1st

school readiness. School readiness describes both the

grade; and 33% proficient in 2nd grade.

GRADE 3RD READING

4TH 5TH

Colorado At-Risk VS General Population

3RD WRITING

4TH 5TH

Children Scores

3RD MATH

4TH 5TH 0.0

0.1

0.2

0.3

0.4

GENERAL POPULATION (STATE)

0.5

0.6

0.7

CHILDREN AT-RISK

0.8

Status & Implementation

1

The Telluride Foundation has recruited the following partners for its School Readiness Outcomes Initiative: • Telluride School District R-1 • Telluride Elementary School • Telluride Early Childhood Center (TECC) • Mountain Munchkins • Rainbow Pre-School • Mountain Sprouts • Telluride Preschool • Wright Stuff/Prime Time Child Care • Norwood School District • Bright Futures (Regional Child Care Council)

2

3

4

readiness initiative in 2011-2012

the school district will implement

successor to Creative Curriculum, is

will be current kindergartners and

the assessment tool, “Teachers

a universal on-line assessment and

pre-school children on track to

Strategy GOLD� for all pre-school

observation web based tool. This is

graduate and move to kindergarten

and kindergarten children in their

more than just a pre/post activity

in 2012-2013.

classrooms. CDE currently has

measurement. Rather, young

44,000 children in Colorado

children are observed over a period

and kindergartner children in

receiving Teachers Strategy

of time to accurately document

centers and the district, over 50%

GOLD assessments in pre-school

their knowledge and skills.

(125) will participate in the school

and kindergarten classrooms.

The primary target for the school

Of the current 245 pre-school

readiness initiative.

Child care center partners and

Teachers Strategy GOLD, the

Pre-school and kindergarten teachers use Teachers Strategy GOLD assessments, including using iPod touch camera, video, and dictation features, to capture documentation of learning and developmental progress and post results to secure online portfolios.

SOCIAL & EMOTIONAL DEVELOPMENT

AVERAGE SCORE

OUTCOME

4.8 4.6 4.4 4.2 4.0 3.8 3.6 3.4 3.2 3.0 FALL

WINTER

SPRING

LANGUAGE & LITERACY 4.8 AVERAGE SCORE

4.6 4.4 4.2 4.0 3.8 3.6 3.4

GENERAL POPULATION (STATE)

3.2

CHILDREN AT-RISK

3.0 FALL

WINTER

SPRING

The measurement of school readiness outcomes will not happen overnight, but the Foundation believes that its investment over the past year will prove successful over the long term. Over the past year, the Foundation has spent time and resources educating regional school districts, pre-schools, and early childhood development organizations, meeting with Colorado Department of Education officials, and facilitating numerous meetings to enable the implementation of the School Readiness Outcomes Initiative and Teachers Strategy GOLD assessments.

As a result of participating in this initiative, school districts, early childhood development organizations, pre-schools, and the Foundation will be able to measure the percentage change in children entering kindergarten ready to learn and identify programs and curriculum that improve readiness. Finally, the Foundation will be able to target its grant making to programs that work and organizations demonstrating a successful track record of preparing kids for kindergarten.

Telluride is an amazing place. The

permanent community resource for

spectacular scenery, the terrain,

future generations. Participation in

the unique town, and especially the

Forever Telluride can be an inspira-

people, join together to make

tional experience and, hopefully, will

Telluride a special place for inspira-

demonstrate to others how they too

tion, enjoyment, and rejuvenation.

may have an enduring impact on the

We at the Foundation want to

Telluride community.

ensure that Telluride remains a wonderful place to be long after we are

Forever Telluride Donors

gone. Forever Telluride is the Foun-

Anonymous

dation’s way of recognizing and

C. Michael and Anne Armstrong

honoring those who have included

Edward and Frances Barlow

the Telluride Foundation in their

Joanne and Harmon Brown

estate plans through a bequest.

Richard Holbrooke

Estate gifts that include Forever

Father Sylvester Schoening

Telluride will go towards the Foun-

Sheila Wald

dation’s endowment, creating a

Stephen Wald

Telluride Foundation Board of Directors and Forever Telluride members Stephen Wald (left), July 21, 1935 – October 22, 2009; and Ambassador Richard Holbrook (with wife Kati), April 24, 1941 – December 13, 2010. On behalf of your friends and the Telluride community, thank you for enriching our lives and community. We miss you.

What We Have Accomplished

$

20 MILLION

Granted to the community since our inception in 2000 without an endowment.

$

2.5 MILLION

Granted in 2011, the largest amount for any western Colorado foundation.

$

3

MILLION Raised in new private foundation and government grants in the last four years for initiatives like these

Children’s preventive health activities including providing over 2,500 free, schoolbased cavity prevention treatments; enrolling over 850 eligible children in state health insurance programs; providing over 500 free rides for rural residents to get to medical appointments; and recording over 1,000 registrations in the CO immunization registry, allowing parents to get timely and accurate updates.

Good Neighbor Fund a one-time hardship grant program for families struggling with a shortterm financial crisis due to medical, housing or transportation emergencies; last year the Good Neighbor Fund helped over 40 local families with $44,000 in emergency hardship grants.

Special Initiative Grants Program provides capital and multi-year grants for funding larger, board-sponsored projects: the domestic violence resource center purchased permanent office space; Trust for Public Lands acquired a conservation easement to re-open public access to 14,000 foot Mt. Wilson; an “Alternative Futures” study of the region to provide fact-based information on long-term economics, ecological and community impacts; a new pre-school facility; a new permanent ski in/out home for the adaptive sports program; the medical center’s emergency room remodel.

Paradox Community Trust (western portions of Montrose, San Miguel, and Dolores counties) establishes a locally controlled trust fund to support long-term community and economic development to deal with the boom bust resource extraction economy.

What We Do

How We Do It

• We make a positive difference in

• Donor centric focus on leveraging

people’s lives, and we make more

donors’ gifts and maximizing their

possible.

gifts’ impact to “improve the qual-

• Make cash grants to regional nonprofits and community groups.

• Work with nonprofits to build their capacity and improve their effectiveness.

• Operate initiatives that address emerging issues where we can have a direct impact.

• Serve San Miguel, Ouray, and

ity of life for residents, guests and the workforce of Telluride.”

• Operate without an endowment; raising all our income from multiyear donor pledges; grant in today’s dollars to maximize the immediate impact.

• Giving from the Board of Directors covers all operating expenses of the Foundation, allowing every

western Montrose counties – the

new dollar raised to go directly to

workforce and watershed region

programs.

of Telluride.

• 88% of every dollar spent is for programs vs. supporting expenses; this ratio is in the top tier of nonprofits in the country.

Board of Directors

Donors*

Ron Allred

Andrew Karow

Friends of Telluride

Mike Armstrong

Scott Leigh

Ron & Joyce Allred

Neil Armstrong

Paul Major

Alpine Bank

Ed Barlow

Tricia Maxon

Curt & Libba Anderson

Lynne Beck

Megan McManemin

Mike & Anne Armstrong

Richard Betts

Melanie Montoya

Ed & Frances Barlow

Harmon Brown

Brian O’Neill

Barney & Carol Barnett

Joanne Brown

George Parker

Marc & Sharen Berman

Mark Dalton

Mary Rubadeau

Darren & Julie Blanton

Bob Delves

Susan Saint James

Norman & Elaine Brodsky

Bridgitt Evans

H. Norman Schwarzkopf

Harmon & Joanne Brown

Davis Fansler

Ed Sheridan

Kevin & Mary Grace Burke

Elaine Fischer

Dan Tishman

John & Alice Butler

Stu Fraser

Sheila Wald

Community Banks of Colorado

Bunny Freidus

Brian & Karen Conway

Tully Friedman

Mark & Susan Dalton

Allan Gerstle

Rohit D’souza & Alba Blanco

Ron Gilmer

Dick Ebersol & Susan Saint James

Tom Hill

Bruce & Bridgitt Evans

Kevin Holbrook

Davis & Bobsey Fansler

Chuck Horning

Bunny Freidus & John Steel

Tully & Elise Friedman

H. Norman & Brenda Schwarzkopf

Frances Rubacha

Ted & Aleja Herrick

Edward & Darenda Sheridan

John & Laura Shields

J. Tomilson & Janine Hill

Martin & Marlene Silver

Travis & Alison Spitzer

Paul & Janet Hobby

Pamela H. Smith

Gene & Tracy Sykes

Charles Horning

Bobby & Polly Stein

Dudley & Tina Taft

Johnson Family Foundation

Telluride Sports

Ron & Lieuen Kurucz

Dan & Sheryl Tishman

Bridal Veil Donors

Vincent & Anne Mai

Robert & Jane Toll

annonymous

Paula Malone

Harlan & Carol Waksal

Neil & Carol Armstrong

Marty & Tristin Mannion

Sheila Wald

US Bank

Jim & Jamie McNulty

John & Joann Weisel

Keith & Linda Beaty

George & Julie Parker

Ward & Kris Brehm

Lisa Payne

Gold Hill Donors

A. MacDonald & Ellen Caputo

The Peaks Resort

Paul & Tina Allaire

John Mike & Marcia Cohen

Michael & Susan Plank

Mike & Ashley Bradley

Lou & Bonnie Cohen

Steven Plofker & Bobbi Brown

Arnold Chavkin & Laura Chang

Everett & Celia Coon

Chris & Laura Pucillo

Bob & Jenny Delves

Richard Cornelius & Lynn Brubaker

Jeffrey & Debra Resnick

Peter Kirkovich

Sally Puff Courtney

Bob & Winnie Roloson

La Piazza Ristorante

Barbara Ferguson

Henry & Susan Samueli

John & Bridgett Macaskill

Patrick & Elena Ferrall

Howard & Debbie Schiller

Daniel & Brooke Neidich

Doug Joan Hansen *as of May 12, 2012

Donors* (CONTINUED)

Hank & Carol Hintermeister

Shernoff Family Foundation

John & Ellen Grimes

Fairmont Heritage Place Franz

Ms. Jo Shernoff

George & Becky Harvey

Klammer Lodge

Jim & Judy Singleton

Susan Hepner

John & Victoria Irwin

Jerry & Lynn Smalley

Matthew Hintermeister

Jesse & Mary Johnson

Tom & Donna Stone

Kevin & Kristin Holbrook

Lawrence & Meg Kasdan

Wells Fargo

Peter Jamar

Paul Lehman & Ronna Stamm

Bert & Pauline Winston

Rich & Charlotte Jorgensen

Michael & Yvonne Marsh

Erving & Joyce Wolf

Ken & Patricia Krueger

Casey & Megan McManemin

Jack & Janet Wolinetz

Betsy Lindsay

Paul & Christine Nussbaum

Paul & Aleta Zoidis

Paul & Lois Major

Donald & Nancy Orr

Mike Zuendel & Brooks West

Brian & Hilaree O’Neill

Larry & Joy Ramaekers

John & Ellen Pillsbury

Grace Jones Richardson Trust

First Tracks

Michael & Marilyn Ratner

Paul & Leslie Robert

Richard Betts

Carl Francesca Rehnborg

Mark Rosenthal & Shoshannah Pollack

Charles & Virginia Bowden

Frank & Bee Reichel

Jim & Carol Royer

Gary & Ilona Cantor

John & Carolyn Snow

Noreen Sablotsky

Rosie Cusack

Sheldon & Zelda Tenenbaum

Mickey Salloway

Robert Dempsey & Suzanne Dahl

Clint & Susan Viebrock

Jeffrey Schmier & Gabriela Franchini

Lee & Jenny Duffey

David & Kate Wadley

Ron & Fran Schwarz

Chip & Cathe Dyer

Diane Sherman

Erik & Josephine Fallenius *as of May 12, 2012

Patrons

Special Thanks

Lynne Beck

Maughan Family

Telluride Ski & Golf

Stuart & Joanna Brown

Preston Paine

La Piazza del Villagio

Peter & Linda Bynoe

Patagonia

Camel’s Garden & Ice House Hotels

Charles & Sue Cobb

Razoo

Night & Day Cleaning & Floor Care

Brian & Penny Dyson

Robert & Beth Rivera

Edelweiss Wood Flooring

Bob & Mary Rubadeau

Tom & Janet Elrod

Peter & Carol Sellon

Kathleen Fisher

Bob & Susan Star

Hill & Bettie Hastings

Richard & Anna Teerlink

Todd Hoffman

Ken & Marilyn Way

John & Sandra Horvitz

Brian Wolahan

Donald & Ilene Kramer

Joseph Wood

M Give Foundation

Michael & Irinia Zivian

2011 COMMUNITY GRANTS

Ah Haa School for the Arts for arts programming in Telluride.

$16,500

Angel Baskets to support regional food banks, the holiday food program and the school supply program. $5,000 Animal Humane Society of Ouray County to fund pet over-population programs, outreach, and education. $9,000 Arts, Community & Education of Norwood for arts programming in Norwood. $4,000 Bright Futures for the early childhood education and the “Parents as Teachers” Program. $28,000 Casa of the Seventh Judicial District to increase volunteers who work with children who are victims of abuse and/or domestic violence in the west end of Montrose County. $3,000 Colorado Avalanche Information Center to support avalanche forecasting and education programs in the northern San Juan Mountains. $4,000

Colorado Mountain Club to establish a regional stakeholder’s roundtable to generate a citizen’s proposal for San Juan Mountains winter travel management. $2,000

Basin Clinic (Montrose Memorial Hospital) to purchase a Spot Vital Signs Machine and provide for sliding scale indigent care. $12,500

Dolphin House to provide care for child sexual assault and other child abuse victims. $9,000

Mountain Munchkins Child Care & Preschool to fund scholarships, quality improvements and assist with general operating. $32,000

Hilltop Health Services to increase the accessibility of advocacy services and shelter/safe housing to victims of domestic violence and/or sexual assault in Ouray and San Miguel counties. $8,000

Mountain Sprouts Preschool for support of its early childhood education program ($12,000) and technical assistance ($1,500). $13,500

Hoof & Paw West End Animal Assistance to support spay/neuter programs. $3,000 Naturita Library (Libraries of Montrose County Foundation) to provide academic programming for students. $10,000 Midwestern Colorado Mental Health Center for mental health programs serving San Miguel and west Montrose counties. $18,000 Montrose County Senior Citizens Transportation to provide transportation services to seniors in west Montrose & west San Miguel counties. $15,000

Mountainfilm for support of the Mountainfilm Festival. $25,000 Telluride Film Festival to underwrite the year-around rental costs for the Nugget Theatre. $18,500 The New Community Coalition for technical assistance funding to support its strategic planning process.

Norwood Fire Protection District - EMS Service to offset the cost of treatment and transport of indigent residents in San Miguel County. $5,000

One Telluride for support of immigrant integration programs, including ESL classes. $18,000

Reach Out & Read Colorado for the Reach Out & Read program in San Miguel, Ouray and W. Montrose counties. $1,900

San Miguel Resource Center for support of regional domestic violence reduction program.

Neighbor to Neighbor (Ouray County Council on Aging) for support of volunteer-based programs assisting Ouray County homebound seniors and disabled adults. $4,000

Rico Preschool for support of its early childhood education program. $4,000

San Miguel Watershed Coalition to fund resource and recreation monitoring, and environmental education-newsletter, website, brochures, community forums. $8,500

Ouray Home Maker Program to support the Ouray County seniors who remain in their homes. $5,000 Ouray County - WIC for Farmer’s Market vouchers for low-income families. $2,500 Palm Arts for the dance program and for operational support of the Palm Theater. $18,500 Paradox Valley School to help fund after school programs. $9,000

Ridgway School District for the Learn to Ski Program. $5,700 San Juan Field School to fund the winter avalanche education activities. $6,000 San Miguel & Ouray Juvenile Diversion for support of its programs working with at-risk teens. $10,000 San Miguel County Open Space & Recreation Program to construct a trail from the San Miguel County Fairgrounds to Pioneer Village Subdivision in Norwood. $5,000

Pinhead Institute for support of its youth science programs. $13,000

KOTO Radio (San Miguel Education Fund) for procuring equipment for the radio station ($8,000) and technical assistance ($1,500). $9,500

Rainbow Pre-School and Day Care for support of its childhood education program. $36,500

One to One for support of the youth mentoring program in San Miguel County. $40,000

$39,900

Sheridan Arts Foundation for scholarships for the Young People’s Theater and general operating for the Sheridan Opera House. $18,500 Telluride Academy to fund need-based tuition assistance for children’s summer outdoor programs for local families ($22,500) and to support the youth Horizon Climbing Club (12,500). $35,000 Telluride Adaptive Sports Program to train volunteers and instructors, to host the Disability Awareness Project, and to provide scholarships. $20,000 Telluride AIDS Benefit to expand local HIV testing and support the local annual student education programs. $6,500 Telluride Chamber Music for support of chamber music programming. $7,200

2011 COMMUNITY GRANTS (CONTINUED)

Telluride Choral Society for support of choral programming. $9,000

Telluride Lizard Heads for support of the youth hockey program. $8,000

Telluride TV for support of the Telluride public access television station. $5,000

Telluride Mountain School for tuition assistance for low-income families. $5,500

Telluride Council for the Arts & Humanities to support art programs in Telluride. $16,500

Telluride Nordic Association for support of Nordic trail grooming. $10,000

Telluride Early Childhood Center to provide scholarships for early childhood education to low-income families. $13,000

Telluride Preschool to provide scholarships ($10,000), teacher salaries, incentives, and continuing education ($5,000), and quality improvements ($3,000). $18,000

Telluride Education Foundation to help fund teacher-sponsored classroom programs and teacher magnet grants for the Telluride School District and Telluride Mountain School. $18,000 Telluride Historical Museum for local and regional history programs. $12,500

Telluride Repertory Theatre for support of community theater programs ($15,000) and strategic planning technical assistance ($1,500). $16,500 Telluride School District to continue Telluride & Norwood youth alcohol and prevention efforts. $9,000

Telluride Ski & Snowboard Club for scholarships for low-income families and for support of youth ski and snowboard programs. $20,000 Telluride Society for Jazz for support of the Telluride Jazz Festival and programs. $15,000 Telluride Youth Lacrosse for support of youth lacrosse programs. $3,000 Telluride Youth Soccer Club to subsidize coach and administrative staff salaries and for coach training. $6,000 Toddler Town of Telluride to help subsidize rent costs for its early childhood education program. $15,000 Tri-County Health Network for support of programs to improve health and health access in San Miguel, Ouray and west Montrose counties. $25,000

Recent Special Initiative Grants

Trust for Land Restoration to develop a mining restoration and conservation project in the Canyon Creek watershed of western Ouray County. $4,000 Trust for Public Land to fund the Telluride Area Conservation Program. $5,000

Uncompahgre Legal Aid for support of legal services for low-income clients. $4,000

Telluride Medical Center for its emergency room remodel.

University Centers of the San Miguel to support higher education programs in San Miguel and west Montrose counties. $10,500

Telluride Academy purchase of its headquarters.

Voyager for children and youth after school and summer programs in Ouray County. $13,500

Uncompahgre Board of Cooperative Services for instructional strategies and assessment implementation for children with autism ($10,000) and transition support for severe needs students to post secondary vocational education ($5,000). $15,000

West End Public Schools to build a playground for the pre-school and kindergarten programs.

Uncompahgre Medical Center to support UMC’s dental program serving low-income and indigent patients. $15,000

Wright Stuff Community Foundation for early childhood education programs in Norwood and teacher continuing education. $39,000

$5,000

$125,000

$75,000

Gold Run (new Telluride affordable housing project) Child Care Center. $75,000

2011 FINANCIAL STATEMENT

Unrestricted REVENUE AND SUPPORT Contributions $ 785,872 Federal contract revenue 635,630 Interest and dividends 142,112 Other income 70,630 Net assets released from restrictions: Satisfaction of time restrictions 1,460,764 Satisfaction of program restrictions 228,813

Temporarily Restricted Total $ 1,480,336 - - -

$ 2,266,208 635,630 142,112 70,630

(1,460,764) (228,813)

-

3,323,820

(209,241)

3,114,579

EXPENSES Program Services: Grants and assistance programs Education and consulting

2,570,268 132,193

- -

2,570,268 132,193

2,702,461

-

2,702,461

Support Services: Development General and administrative

220,819 195,511

- -

220,819 195,511

416,330

-

416,330

3,118,791

-

3,118,791

CHANGE IN NET ASSETS FROM OPERATIONS

205,029

(209,241)

(4,212)

Nonoperating Activities: Realized and unrealized investment losses Change in value of charitable gift annuity

(88,508) (10,715)

- -

(88,508) (10,715)

CHANGE IN NET ASSETS

105,806

(209,241)

(103,435)

3,811,880

2,393,937

6,205,817

$ 3,917,686

$ 2,184,696

$ 6,102,382

TOTAL REVENUE AND SUPPORT

Total Program Services

Total Supporting Services TOTAL EXPENSES

NET ASSETS, BEGINNING OF YEAR NET ASSETS, END OF YEAR

2011 ASSETS Cash and cash equivalents $ 1,389,150 Investments 3,671,400 Accounts receivable 12,135 Pledges and contributions receivable, net 2,399,424 Note receivable 37,500 Other assets 8,881 Property and equipment, net 479,998

TOTAL ASSETS

$ 7,998,488

2010 $

1,488,471 3,576,188 2,570 2,383,668 85,000 6,172 489,495

$

8,031,563

LIABILITIES AND NET ASSETS Liabilities Accounts payable and accrued expenses $ Grants payable Agency payables Charitable gift annuity Loan payable

79,791 1,082,559 345,709 124,397 263,649

$

67,739 1,095,295 262,316 129,561 270,836

$

1,896,105

$

1,825,747

$

3,917,687 2,184,696

$

3,811,880 2,393,937

TOTAL LIABILITIES

Net Assets Unrestricted Temporarily restricted

TOTAL NET ASSETS 6,102,383

TOTAL LIABILITIES AND NET ASSETS $ 7,998,488

6,205,817 $

8,031,564

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION December 31, 2011 and 2010

granT award history

3.0 2.5 2.0 1.5 1.0 .5 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Community Grants Total Grants

2011

expenses Grants 84% Development 9%

service area The Telluride Foundation serves people in San Miguel, Ouray, and western Montrose counties.

Delta Education 4% Administration 3%

Montrose Ouray San Miguel telluride Dolores

Please join us as we strive to make more possible‌

Cover Photo: Nick Wolcott | Design: Matthew Bacon

220 E. Colorado Avenue, Suite 106 PO Box 4222 Telluride, CO 81435 970.728.8717 fax 970.728.9007 For more information about the Telluride Foundation, please visit telluridefoundation.org Paul Major CEO & President paul@telluridefoundation.org Susie Schaefer Finance Director susie@telluridefoundation.org Katie Singer Development Manager katie@telluridefoundation.org April Montgomery Programs Director april@telluridefoundation.org