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ANNUAL REPORT 2012-2013Your DreamsYour DreamsYour StoriesYour StoriesYour ImpactYour Impact00

Your DreamsVisionTurkish Philanthropy Fundsaspires to be the leadingUS foundation for high-impactsocial investments in Turkey.MissionOur mission is to enable donorsto realize their philanthropicpassions for Turkey.Cover photo: İnciraltı, İzmir by Nejdet Düzen1

Your DreamsTable of ContentsHisar Anadolu Destek Derneği1478121622252628313233343738394043444546475052Your DreamsLetter from the Chairman & CEOYour StoriesEducationEmpowering WomenAwareness through ArtCulture of PhilanthropyYour ImpactMap of ImpactPartnersYour Inner PhilanthropistGive NowThree Easy Steps to GivingGive LaterThank YouFounders SocietyFriends SocietyOur SupportersTeamBoard of DirectorsAdvisory BoardJunior BoardManagementNewsFinancial Highlights3

Your DreamsYour Dreams, Our MissionDear Friends,Turkish Philanthropy Funds completed anothersuccessful year. As we celebrated our sixth anniversary,you have once again reaffirmed what weknew to be true when we have founded TPF in 2007, that the Turkish-American community iscompassionate, collaborative, and resourceful. Heartfelt thanks to all our friends and supporters,to our staff and dedicated volunteers, and to our Trustees, for ensuring that our workcontinues with ever increasing impact.TPF’s accomplishments are the result of your deep empathy and your creativity infusedprojects we embarked on together to empower the least fortunate. Good education is thefoundation of empowerment, and the development that follows. It is therefore no surprisethat of the 112 grants totaling $ 11,531,438 we have made to date, more than 86 percent hasbeen allocated towards creating educational opportunities and scholarships. We have spentyet another exciting year partnering to build schools for children with autism and with leukemia;enabling girls’ education; and helping young women gain life skills and confidence.TPF moved forward on many fronts, and laid the groundwork for even greater successand visible impact in the years ahead. We are on a strong footing operationally; we have arecession-tested endowment; and the results are accounted for each of the grants we make.But our work has just begun. Accomplishing our vision requires more. That’s why this year weset up a strategic review team to help us take stock and plan ahead. During our board retreatin İstanbul, we once again came to appreciate the critical role our donors play. More thanever, our impact revolves around your interest, your vision, and your involvement. Governmentsand large foundations are not the sole drivers of social change anymore, but you are.You have shown this by trusting more than $16 million of your philanthropic dollars to TPFsince 2007. Working together we have the power to turn your philanthropic dreams into realsocial advancement in the communities you care about.Grassroots philanthropist Günce Arkan’s story is a case in point. You will read in the followingpages how, within a matter of weeks, Günce mobilized friends and raised more than$21,000 to purchase books for girls in Turkey. TPF made it possible for donors to receive taxdeductions and then connect the funds with the right partner in Turkey, Mother Child EducationFoundation, to establish a mobile library and deliver the books to girls aged five to eight.Günce’s story shows us that everyone can be a philanthropist.We still have so much work ahead. We need to fight cultural biases in Turkey where girlsand women are prevented from fully participating in and making contributions to society.We need to build the capacity of Turkish NGOs and we need to invest in philanthropy infrastructurein Turkey. Several recent events throughout the world that brought thousands ofpeople to the streets for weeks show us how powerful a force people can be for social change.Societies move forward when common interests become common actions to serve a commongood. We see our role as channeling your social concerns into meaningful and impactfulactions by building a strong civil society in Turkey.We are immensely proud of what we have accomplished together in our first six years.And, we are humbled by your amazing dedication and generosity. As we set TPF on a path forgrowth and greater impact, we hope you and your friends join our efforts. Support a cause orinvest in our organization. Tell us what matters to you; follow us online and together we willcontinue make things happen.Thank you.Haldun TashmanFounding ChairmanÖzlenen Eser KalavFounding President & CEONovember 20134 5

Your Stories’’When we recognize that theTurkish-American communityis a deep reservoir of talent,compassion and collaboration,there is no limit to whatwe can achieve together.– Özlenen Eser Kalav,President & CEO, TPF’’Your Partnershipswith the CommunityAt Turkish Philanthropy Funds, we deriveour strength from our community. Theunique partnerships between you and thecommunity empower us all. That’s why ourwork revolves around your philanthropicdreams. In the following pages you willfind stories of courage, empathy andwisdom, the common band that makes usa vital community.6 7

EducationGunce ArkanAyla’s BooksGunce ArkanIt was Ayla’s 3rd birthday party and she wasn’thappy. Ayla had a big cake; her friends had manyparty favors. Yet, Ayla and her friends spent mostof the day running around in chaos. Mommy anddaddy thought there must be a better way to celebratethis important day. “You know how it is in theUS” says Günce Arkan, Ayla’s mother, “There are alot of expenses that go into throwing a kid’s birthdayparty and the kids don’t even enjoy it.” For herAyla says thank you!next birthday, instead of a big party, Ayla wantedbooks, not just for herself but for the thousands ofgirls in Turkey whose parents couldn’t afford them.That’s how Ayla’s Books, a campaign which raisedmore than $21,000 in less than 30 days was born.The biggest misconception about giving is thatyou have to have your own money, says Ms. Arkan,who used Facebook and Twitter to mobilize familyand friends to donate for new, colorful books,with fun and educational stories for girls Ayla’sage. Ayla’s Books reached its fundraising goalthrough the contribution of more than a hundredfriends, with an average donation of $25 -$100.Ms. Arkan relays Ayla’s love for books to her ownupbringing, “we couldn’t always buy whatever wewanted, but books were always in the budget.”“If I can do it, anybody can!” adds Ms. Arkan,with enthusiasm, who didn’t want to start her owncharity. That would require a lot of her time andshe would have to deal with bureaucracy. Instead,she chose to work with Turkish PhilanthropyFunds. It took a day for Ms. Arkan to set up a website for the campaign, and the rest was taken careof by TPF. “TPF was fabulous and was with meevery step of the way” says Ms. Arkan. TPF providedtax-deductions for the donations and identifiedthe right partner in Turkey who could deliver forMs. Arkan’s mission.The Mother Child Education Foundation (AÇEV),a long-time TPF grantee partner, is using the fundsto establish a mobile library of children’s booksbetween the ages of five and eight. Thanks toAyla’s Books, in the fall of 2013, 3,600 girls willparticipate in reading days organized in sevencities including Adana, Ankara, Bursa, Diyarbakır,İstanbul, İzmir and Van. Their books will featurestories about democracy, fairness, healthy eating,excess consumption, and the rights of animals.Ms. Arkan’s vision is to run these birthday campaignsfor Ayla every year until she is old enoughto take over and fundraise herself. “It will be anAyla loves her books!incredibly valuable life lesson for her” says Ms.Arkan. What’s her advice for you? “Find a causethat you really care about. Be consistent with yourmessage and let TPF take care of the rest.”Günce Arkan supports MotherChild Education Foundation (AÇEV)Founded in 1993, the Mother Child EducationFoundation (AÇEV) has been carrying out earlychildhood education activities for low-incomefamilies to achieve equality in educational opportunity.AÇEV recently launched a new campaign topromote fatherhood in Turkey. “You are my father”aims to raise awareness on the importance offathers in a child’s life and to encourage responsibilityin a child’s development and in the family.8 9

Your StoriesEducationLOSEVA life-changing gift to the children of your hometownScience shows children are most receptive to retainnew information at a young age and early learningexposure is essential in fostering development. Yet,the transformational impact early intervention andan early education can have in a child’s life that areassociated with autism spectrum disorder (ASD)is little known. That’s why Burcu and Mete Tuncel,philanthropists at heart, took on the mission toraise awareness and bring early education opportunitiesfor children with special needs in Turkey.Early intervention for special needs children can be“life-changing” says Ms. Tuncel, who has throughTPF worked with Turkish Philanthropic Association(Türkiye Yardım Sevenler Derneği) to open aschool for children with autism in her hometown ofEskişehir. “Families in Turkey need our help. Thereis too much to learn from science and new technologiesand little awareness among the families whoare overwhelmed because they don’t know what todo or do not have the financial means to get theirchildren the attention they need and deserve.”Ms. Tuncel was a 2006 recipient of Tashman Fellowship,named after Haldun and Nihal Tashman,founding members of TPF, for her MBA degree atColumbia University Business School. “That’s howI knew of TPF” said Ms. Tuncel, “TPF helped mestay on top of things. With TPF’s due diligence, Iknew our donations were going to the right place.When you donate through TPF, the grantees takeyou more seriously. They make things happen.They know TPF will follow-up and that they have todeliver on time.”To help improve mobility, Ms. Burcu Tuncel recentlyhelped build elevators in the newly estab-lished three story school for the children with specialneeds in Eskişehir. The school for children withautism opened its doors on January 16, 2013. TPFdonors care deeply about the education and healthdemands of children with special needs, and haslong been supporting TOHUM Autism Foundationand LÖSEV (Foundation for Children with Leukemia).With a matching gift from Ms. Tuncel, TPF hasleveraged her funding and raised additional moniesto provide treatment and education for childrenwith Leukemia who otherwise couldn’t afford it.Ms. Tuncel and her husband’s gifts also helpTOHUM Autism Foundation based in Istanbul. “Weare doing our best to help TOHUM grow throughscholarships. TOHUM offers top of the line educationfor kids with special needs, equivalent to thoseoffered by peer institutions in the US or elsewhere.But they have limited space and we need morescholarships for those who can’t afford it.”Special Needs School Opening in EskişehirTurkiye Yardim Sevenler DernegiLÖSEV Angora SchoolBurcu and Mete Tuncel support TurkishPhilanthropic Association(Türkiye Yardım Sevenler Derneği)Turkish Philanthropic Association was foundedin 1928 by a group of professional women tohelp women who lost their husbands during theIndependence War support their families. It startedoff as a simple knitting workshop for the armywhere women were given a salary in exchange oftheir hand-made army uniforms. 85 years later theassociation stands strong with 144 offices acrossthe country and has transformed thousands oflives. The association has built 5 Primary Schools(Diyarbakır, Burdur, Urla, Denizli, Mardin); 1 HighSchool (İstanbul); 1 Vocational School (İstanbul);6 Student Dormitories (Ankara, İstanbul, Ardahan,Tavşanlı, Ünye, İzmit); 3 Health Centers (Samsun,İzmir, İstanbul); 3 Senior Housing (İzmir, Bartın,Dinar); 2 First Aid Stations (İstanbul); 1 Blood Bank( İstanbul); 2 Teacher Housing (Adapazarı, Mardin);1 School of Education for Special Needs Children.1011

Your StoriesEmpowering WomenA helping hand from Silicon Valley to Turkish WomenDeğişim Liderleri DerneğiWhen Sema Başol, an executive with more than 30years of experience, moved from Los Angeles to SiliconValley, she didn’t expect to get closer to Turkey.Yet, that is exactly what happened. “Here is a partof the country, that is highly creative and all aboutempowering individuals. What was I going to do?I care a lot about Turkey and I have a strong bondto Turkey,” explains Ms. Başol with enthusiasm.There is no doubt she says that she was inspired bythe women of Silicon Valley. “They were helpingwomen in other parts of the world. They took astand. They didn’t just talk about it.” According toMs. Başol, inspiration models can do wonders inwinning new leaders. When combined and offeredwith a set of acquired skills, mentors can inspire andhelp women to realize their full potential.That is how and why Ms. Başol came to foundDeğişim Liderleri Derneği (Change Leaders Association),an organization that helps women withself-confidence by offering workshops on life andleadership skills. Every year, a small group of collegestudents are selected to take on a social changeproject. “Projects are just the tools” say Ms. Başol.“Young women who attend the programs learn totake on responsibility, to run meetings, to delegate,to speak in public… how to work as a team andhow to manage a team.” At the end of the year, allthe participants gather and complete an extensiveprogram evaluation form. Most of the participantscontinue as volunteers and some become facilitators.What is the key to becoming a philanthropist?To start with an idea and make it happen can beoverwhelming admits Ms. Başol. But the convictionDeğişim Liderleri DerneğiChange Leaders Foundation Speakerto make a difference overrides any fear. “Enrollingothers in a vision, to get them as excited as you areis a key to success” says Ms. Başol who has joinedforces with TPF to make her vision become a reality.Sema Başol supports Change LeadersAssociation (Değişim Liderleri Derneği)in Turkey.Started in 2009 by Turkish Women Initiative,Change Leaders Association offers leadership skills,educational opportunities and civic engagementamong Turkish girls and women through mentorship,grassroots community-based learning, bestpracticeand networking workshops and programs.Change Leaders Association Workshop1213

Your StoriesYour StoriesEmpowering WomenThe Memory of Canan Gürman Murthy EmpowersWomen and Girls in Van“She was the embodiment of girl power”, saysNC Murthy, of his late wife Canan Gürman Murthy.He has built a kilim workshop in the city of Van inher memory. “She worked very hard to put herselfthrough college, earned a very good education. Shemade her own destiny.” Canan and NC Murthy metin Detroit while working for the same company.They got married and started their own business.“She was the driving force behind the success ofour company. She was an entrepreneur” explainsMr. Murthy. That’s why he has chosen a project tosupport women and girls who wanted to take controlof their destinies by obtaining life supportingskills such as weaving kilims and carpets.In 2011, an earthquake in Van destroyed threeof the five kilim workshops run by Hisar AnatolianSupport Society. The shops are a source of vitalityfor the many women and girls who have no othermeans to support themselves or their families.In 2012, municipality of Van donated three lotsof land for the rebuilding and construction ofthe new workshops but the donations werenot enough to support a third construction. Mr.Murthy’s generous gift after his late wife, CananGürman Murthy, was used to rebuild and revivethe last remaining workshop. The four workshopsthat are currently operational houses 90 girls.Canan Gürman Murthy Kilim Atölyesi opened itsdoors to the community in August of 2013. NCMurthy and their son Arjun Murthy attended theopening ceremony along with their extendedfamily in Turkey.Canan Gürman MurthyNC and Arjun Murthy support HisarAnadolu Destek Derneği (Hisar AnatolianSupport Society)Hisar Anatolian Support Society empowers womenby generating income and creating employmentfor women of East Anatolia through training onhandmade carpets and kilim. The kilim studios builtby the Hisar Society targets women and girls whohad to migrate to big cities due to terrorist activitiesin their villages.Hisar Anatolian Support Society Kilim WorkshopHisar Anadolu Destek Derneği1415

Awarenessthrough ArtThe Ghostly Village Schoolsof KastamonuYour StoriesMelih Cevdet Tekşen, one of the three winnersof this year’s Young Photographers Award, shedslight through the lenses of his camera to a forgottenplace in his home town of Kastamonu. “I believethat everybody will return to their village one day”says Mr. Tekşen, “Going back in years, sitting rightnext to these schools, remembering my mother’sstories about the hard working teachers andthe images of villagers building these schools onerock at a time…That was my inspiration for thisproject.” While shooting for this project, Mr.Tekşen imagined his mother and his relatives inclass. “I felt like I owed it to these schools, now I ampaying back dues. I will make their faces andnames live forever.”Melih Cevdet TekşenMelih Cevdet Tekşen1617

Your StoriesAwarenessthrough ArtGypsiesOsman DemirDespite their poor living conditions and the hardshipthey endure to sustain their existence, gypsiesare vigiorous people explains Osman Demir, whowon the first place in this year’s Young Photographer’sAward. They collect and sell recyclable trashto make a living. They live in makeshift homes atthe outskirts of big cities and access to schoolingfor the children is limited. Demir photographs agypsie girl (on the right) working on a day’s laundryin front of her make-shift home.Haluk Soykan Supports YoungPhotographers AwardHaluk Soykan established the Young PhotographersAward Fund at Turkish Philanthropy Funds toencourage and support undergraduate students ofphotography in Turkey. The award is administeredby the American Turkish Society, a US based granteepartner. This year 18 artists from 10 universitiesparticipated. The selection committee is composedof senior curator of photographs at Museum of FineArts, Boston. The winners are awarded $10,000towards tuition and equipment expenses.Gypsies1819

Your StoriesAwarenessthrough ArtThe little big children of BalbeyÇağın CoşkunırmakBalbey is one of the few remaining historical neighborhoodsof the coastal city of Antalya. Named aftera mosque built almost 500 years ago by Ottomangovernor, Bali Bey, it is known for its narrow pavedstreets and “cumbali” homes. The Young PhotographersAward winner Çağın Coşkunırmak’scamera captures Ali Riza and his little brother Hasanprotecting their day of hard work from rain. Soonafter the death of their fathers, the two brothersstarted collecting paper and wood to sell to contributeto the family economy. Below, Efe, Mehmet andGöçmen playing “demolition” with their toy truckunaware of the fact that their homes will soon bereplaced by a shopping plaza. Efe’s father was laidoff. Like his father, Efe wants to be a mini-bus driver,says Coşkunırmak. Göçmen is too shy to talk, herfriends say she has dogs who she believes talk to her.Mehmet wants to be a policeman when he growsup, “he doesn’t like thieves” the boy explains toCoşkunırmak.Çağın Coşkunırmak2021

Your StoriesPromoting a Culture of GivingDeveloping Turkey’sinfrastructure for philanthropyThird Sector Foundation of Turkey (TÜSEV) turns20 this year. Twenty years ago, Turkey’s leadingphilanthropists founded TÜSEV to address commonchallenges in running non-profit organizationsin Turkey. Since then TÜSEV has grown to supporta network of over 100 civil society organizationsthat envision a more philanthropically activeTurkey. “Legal studies around rules and lawsgoverning giving in Turkey continue to be one ofour most important programmatic work” explainsBaşak Ersen, the secretary-general of TÜSEV.Turkey’s current laws do not make it easy for civilsociety organizations to fundraise. “Soliciting donationswithout obtaining prior government approvalcan get you in trouble” according to Mr. Ersen.This is especially true for smaller and less knownnon-profits. TÜSEV is working to change that, saysMr. Ersen, so that Turkish civil society can be lessdependent on foreign money. The biggest challengein Turkey facing civil society is lack of meansto financial sustainability and finding the righttalent for the non-profit management.Since the founding of Turkish Philanthropy Fundsin 2007, TPF supported TÜSEV’s activities aroundcommunity foundations to help develop local forcesto encourage individual giving and corporate socialresponsibility. There is a strong private sector inTurkey. The recent economic boom which broughtTurkey to become a top economy in the worldis a testament to that fact. But corporate socialresponsibility is not close to its potential. The sectoroverall is significantly underfunded.TÜSEV in recent years has increased its focuson social enterprises. What is a social enterprise?While there is no fixed definition of the concept,TÜSEV’s working definition is an institution trying tosolve a social problem using a business model.“We often see tangible results from social enterprises.It is a very new field. We are working toincrease awareness and understanding of this newmodel in Turkey to bring about social change.”Haldun and Nihal Tashman support TÜSEVand Bolu Community FoundationTurkish Philanthropy Funds co-founders Haldun andNihal Tashman believe deeply in the unique rolecommunity foundations play in the health of a community.That’s why Mr. and Mrs. Tashman throughtheir own donor-advised fund, support TÜSEV tospread across the country the community foundationmodel. Turkey’s first community foundation,Bolu Community Foundation was established in2008 and is an important milestone in enablingphilanthropy in Turkey.TUSEVTÜSEV Conference(From left to Right)Yasemin Tashman,Aylin Tashman-Kim,Nihal Tashman,Kenan Kim, HaldunTashman, AzaleaKim, Louis Kim22 23

Your impact’’Turkey is an extraordinary country.Programs already in place by TPFhave been vetted, they are working.The women and girls I met arethe most promising. They are theones that are going to get the farthest.These are the women I want toget behind and support.– Dayle Haddon,UNICEF Goodwill Ambassadorand founder of WomenOne.’’The New Faceof Poverty in TurkeyTurkey has been through a major social transformationin the past decade. A decade of robust growthplaced Turkey among the top economies of theworld. Yet such economic success did not help closea significant gap between Turkey’s rich and poor.Millions of Turks left their villages looking for betteropportunities in big cities, leading to the impoverishmentof the countryside and development of urbanpoverty. Many of the social problems TPF works toaddress stem from this new face of poverty inTurkey. Our goal is to find the most effective programson the ground and bring about a long termimpact through results. Here is a snapshot ofwhat we have achieved this year and a list of ourpartners in Turkey.2425

Your impact

Your impactPartner Organizations in TurkeyGender EqualityAnne Çocuk Eğitim Vakfı (Mother Child Education Foundation)Çağdaş Yaşamı Destekleme Derneği (Association For The Support Of Contemporary Living)Değişim Liderleri Derneği (Change Leaders Association)Hisar Anadolu Destek Derneği (Hisar Anatolian Support Society)Kadın Emeğini Değerlendirme Vakfı (Foundation for the Support of Women’s Work)KAMER Vakfı (Women Support Centers Foundation)Türkiye Aile Sağlığı ve Planlaması Vakfı (Turkish Family Health and Planning Foundation)Turkish Women’s International NetworkVan Kadın Derneği (Women Association of Van)EducationBilim Akademisi (Science Academy)Boğaziçi Üniversitesi Vakfı (Bosphorus University Foundation)Eğitim Reforumu Girişimi (Education Reform Initiative)Lider Adaylarını Destekleme Derneği (Young Leader)Lösemili Çocuklar Vakfı (Foundation for Children with Leukemia)Nesin Vakfı (Nesin Foundation)Öğretmen Akademisi Vakfı (Teachers Academy Foundation)Sabancı Üniversitesi (Sabancı University)Türk Eğitim Vakfı (Turkish Education Foundation)Türkiye Eğitim Gönüllüleri Vakfı (Educational Volunteers Foundation of Turkey)Tüvana Okuma Istekli Çocuk Eğitim Vakfi (Tuvana Foundation for the Education of Motivated Children)Tohum Otizm Vakfı (Tohum Autism Foundation)Toplum Gönüllüleri Vakfı (Community Volunteers Foundation)Türkiye Görme Özürlüler Kitaplığı (Library of Turkey for the Visually İmpaired)Social & Economic DevelopmentEge Derneği (Aegean Association)Kavak Dernekleri Federasyonu (Federation of Associations of Kavak)Bolu Bağışçılar Vakfı (Bolu Community Foundation)TEMA Vakfi (The Turkish Foundation for Combating Soil Erosion, for Reforestation and the Protectionof Natural Habitats)Türkiye Üçüncü Sektör Vakfı (Third Sector Foundation of Turkey)Türkiye Toplum Hizmetleri Vakfı (Turkey Community Service Foundation)Türkiye Yardımsevenler Derneği (Turkish Philanthropic Association)Disaster ReliefAKUT Arama Kurtarma Derneği (AKUT Search and Rescue Association)Mahalle Afet Gönüllüleri Vakfı (Neighborhood Disaster Volunteers Foundation)Türkiye Kızılay Derneği (Turkish Red Crescent)Arts & Cultureİstanbul Sanat ve Kültür Vakfı (İstanbul Foundation for Culture & Arts)Anadolu Kültür Vakfı (Anatolian Culture Foundation)28 29

’’TPF helped me stay on top of things.With TPF’s due diligence, I knewour donations were going to the rightplace. When you donate through TPF,the grantees take you more seriously.They make things happen.They know TPF will follow-up andthat they have to deliver on time.”– Burcu TuncelYour Inner PhilanthropistYour Vision is Our MissionWhat is the key to becoming a philanthropist?“Enrolling others in a vision, to get them as excitedas you are is a key to success” says Ms. Sema Başol,who joined forces with TPF to make her visionbecome a reality. What is your vision? What doesmoney mean to you? Our goal at TPF is to devisea giving experience that respects your values andmeets your personal choices to achieve your vision.The following pages describe ways TPF enables youto give, now or later.“TPF was fabulous and waswith me every step of the way…’’If I can do it, anybody can!– Günce Arkan3031

Your Inner PhIlanthroPIstDiscover Your Inner PhilanthropistGive nowYou can start your philanthropic journey today.Just pick one of the options that fit your uniquevision and individual values.Give Directly to a ProjectTPF’s website, www.tpfund.org, is a virtual matchmakerbetween nonprofits and donor. Search TPF’sonline project database and find an organizationthat pursues a cause you care about.Start-A-CampaignAfter giving to a project, TPF has found that manypeople want to do more. Start-A-Campaign enablesyou to fundraise through TPF’s website and collectdonations from your friends, family or colleagues.For instance, with just a few simple clicks youcan help raise money to support girls’ educationin Anatolia and do so with great efficiency.Join TPF Friends SocietyTPF Friends Society is designed for those whowould like to leave it to us to disperse the fund forthem. We will add your donations to a poolof funds and invest in one of the four issue areasthat we focus on: education, gender equality,economic development and arts and culture.Name-A-FundYou can choose to name a fund after yourself, aloved one, your family or an institution. There aretwo types of named funds. Donor Advised Fundsallows you to create an endowment account foryourself and accumulate interest and spend thecapital and/or the investment over time as you likeit. It is a no-hassle option for those who eager toget involved in philanthropy but don’t want thelogistical burden. An added benefit is tax deductionsand a wide range of philanthropic serviceswhich TPF helps facilitate (See table 2). Friends ofFunds enable your donations to Turkish charitiesto be eligible for tax deductions. Otherwise yourdirect donations to foreign charities are not. TPFworks with Turkish universities and NGOs to createprojects that fulfill your philanthropic goals.three easy steps to Charitable Giving at tPFCauses1seleCt Your Causes:1. education2. gender equality3. economic development4. arts and cultureTable 1PartnersreVIeW tPF PartnerProJeCts as tPF WIll:1. Vet organizations to presentyou with the most effectiveprograms2. Work with you to find thebest fit3. Help you get a tax deductionin the US for giving in Turkey4. Assist you in creating yourown named fund if you areinterested2 3IMPaCtMaKe sMart soCIalInVestMents as tPF WIll:1. Get timely updates onprojects2. Provide you with progressreports3. Monitor results3. Monitor results3233 00

Your Inner PhIlanthroPIstDiscover Your Inner PhilanthropistGive laterWe all want to leave the world a better placefor the next generation. Through TPF’s plannedgiving you can do so over a long period of time.Planned giving may be the right path for youif you are worried you will outlive your savingsand would like to guarantee a lifetime stream ofincome for you and your family first. Here aresix ways how you can do that:Charitable Bequests:The simplest gift is a bequest in your will or trustthat directs specific assets or a percentage of yourestate to a fund or to add to an existing fund.Charitable bequests allow you to divide assets betweenyour family and your philanthropic interestsin whatever manner you choose. You can reduceyour taxable estate and create a charitable legacy.Charitable Remainder Trusts:This is one of the most efficient estate planningtools available to anyone holding assets that haveexperienced significant appreciation like stocks,real estate, or a business. You transfer cash or assets(especially appreciated assets) to an irrevocabletrust and may receive income for life or, ifyou choose, a certain term of years. The remainderpasses to TPF, creating a permanent fund in yourname to benefit the philanthropic cause that youdesignate.Charitable Lead Trusts:You can set up a trust that generates dividends.Throughout the term of the trust, earned dividendsgo to TPF. Remaining assets go to your heirs,tax-free, on the trust’s appreciation.Retirement Plan and InsuranceBeneficiary Designations:Any retirement plan such as an IRA or 401(k) or lifeinsurance policy allows you to create a named fundwith TPF. You simply name TPF as the beneficiary.When you pass on, the assets transfer to TPF,reducing estate and income taxes.Charitable Gift Annuities:A simple contract guarantees you a fixed income inexchange for a gift to TPF. Annuity rates are set bythe American Council on Gift Annuities.Real Estate and Bargain Sales:A vacation home, a farm, a business property…If you have real estate assets that you would like todonate as a charitable gift, TPF can help. You canchoose to retain the right to use it during your lifetimewhile you receive an immediate tax deductionon the appraised fair market value, (not the originalinvestment). Alternatively, you can sell an asset toTPF for less than the fair market value and use thedifference in the value as your charitable gift.Private Foundation or a Donor advised Fund.Which one is right for you?A donor advised fund at TPF is a flexible, simple wayto give that contains many of the features of a morecomplex private foundation, yet includes all of theDonoraDVIseDFunDsPrIVateFounDatIonTable 2taX DeDuCtIBIlItY ease oF estaBlIshMent Costs Grant MaKInGDeduct 50% AdjustedGross Income (AGI)for cash gifts; deduct30% AGI for long termappreciated securities,real estate and closelyheld stock.Deduct 30% AGI forcash gifts; deduct 20%AGI for gifts of long-termappreciated securities;deduction limited tocost basis for gifts ofreal estate and closelyheld stockSimple and quick to establish;could be done in one daySeveral months to establishtax benefits of a public charity. The following tablecompares some of the key features of a private foundationwith those of a donor advised fund at TPF.Minimal fees*;no start-upcostsTypically, costlyto set up andmaintain; 1-2%excise tax onnet investmentincomeNo minimumannual payout;philanthropicservices providedby TPF5% minimumannual payoutrequired* TPF charges donor advisedfunds an administrative fee of0.5 - 3 % of the asset value.Meanwhile, the Council onFoundations estimates thecost to administer a privatefoundation may be 9-15 % ofthe asset value.34 35

Thank you’’I see more and morewell-educated and very smartmen and women who are rising stars.I believe in the power of peoplecoming together to create change.When these young successfulTurkish-Americans want to turntheir personal success intosignificance, TPF will be a vehiclefor them to use with easeand confidence.’’– Haldun Tashman,Chairman, TPFThank youTo Our SupportersBig heartfelt thanks to our donors for stayingcourse with us through thick and thin. Thank youfor your wisdom; thank you for caring; thank youfor letting TPF be a part of your extended family.3637

Thank youThe Founders SocietyThe Friends SocietyLeadership CircleSerpil and Yalçın AyaslıÖzlenen Eser KalavHaluk SoykanNihal and Haldun TashmanTPF’s Founders Society is a diverse group ofdedicated investors who provide the vitalfoundation for TPFʼs work through financial,human and social capital. The TPF FoundersSociety is open to those individuals interestedin making a long-term commitment to Turkishphilanthropy.Pioneering PartnersMustafa Kemal AbadanKeystone PartnersMurat AğırnaslıThe Attar FamilyNakiye and Ziya BoyacıgillerVedat and Assia EyüboğluAylin Tashman KimKıSKAŞevket Turgut NeşeErinch ÖzadaRamerica FoundationElif and Tamer SeçkinPlatinum$5,000+Michael BillsZiya and NakiyeBoyacıgillerLou Anne King JensenAylin Tashman KimSeran and Ravi TrehanThe support of the Friends Societydonors, a like-minded community ofphilanthropists, paves the way for usto continue doing our work.Silver$1,000 - $2,499Mustafa Kemal AbadanAslı BaşgözBilge BassaniNicholas Charles and Ayşe PorcaroBronze$999-Erman AğırnaslıOsman D AltanMelanie BerkmenÖner BıçakçıEmre BozyiğitZeynep and Özgür CebiogluNeslihan ÇakıroğluSezgi ÇayırDoruk ÇelenTuğba Çolpan and LindseySkibellÖmer M. ÇorluhanMurat DoğruerMary Lou FiganmeseThe Legacy SocietyGülay GülekÖzden HoodbhoyAhmet İnalNaz KurdoğluLegacy Society MembersŞevket Turgut NeșeNihal and Haldun TashmanDilek MarshSandra RothAyşe Elif SabuncuCüneyt SerdarTPF’s Legacy Society is created exclusivelyto honor those who help our grantmaking through a gift to TPF in their wills,trusts or estate plans.Tabassum SharifGülşah ŞenolAsuman and Metin Taşkınİsmail UysalJoel WeisbergZeynep Wironen3839

Thank youTurkish Philanthropy Funds DonorsJuly 1, 2012 – June 30, 2013$75,000 or moreMustafa Kemal AbadanHaldun and Nihal Tashman$10,000 to $74,999Murat AğırnaslıGamze AteşZiya and Nakiye BoyacigillerLou Anne King JensenAydın and Hülya KoçBluestem Asset ManagementNalluru MurthyUğur SabuncuHaluk SoykanAsuman and Metin TaşkınBurcu and Mete Tuncel$1,000 to $9,999Ece AkaydınGünce Arkan and Mark RosenAslı BaşgözNesli BaşgözBilge Ögün BassaniMelanie BerkmenBiz & U.S. Inc.Emre BozyiğitSibel ÇayırÖmer M. ÇorluhanDigital Wine CommunicationsConferenceZafer EcevitÖzgür ErgungölErol GelenbeErsin KaraoğluAnne KozluHalit ÖzbelliMichael F. ParlamisNicholas Charles and AyşePorcaroMelek PulatkonakBanu and Moris RosoAslı RustemliSarah and Howard SolomonSoroptimist Int’l. Of ManhattanBeachSeran and Ravi TrehanTurkish American LadiesLeagueİsmail Uysal$999 or belowErman AğırnaslıHülya AhmedAkın AkbıyıkAyça AkgüçCem AksoylarSelim AkyüzNihal Altan-BonnetOsman D AltanKemal AnbarcıHalil Reşat ArbaşPınar ArcanYasemin ArıItır and Erden ArkanCanem ArkanSalih AtlıMichael J. AugustinHasan AyazÇiğdem AybarHilmi AydınMelanie AydınBalki AydınKültegin AydınJake BaerEric BakerVictor BaruhSema and Bülent BaşolElif BayraslıAlp BaysalFerhan BekenEbru BekyelErol BenjenkLisa BermanMichael BermanSameer BhargavaÖner BıçakçıHoward S. BlockKofi A BoaykeMichele BoppEmir BoydağPepper and Wendy BrillPeter BrimmOlivia BroadIşın BuyuklimanliNeslihan ÇakıroğluZeynep and Özgür CebiogluDoruk ÇelenAliye ÇelikMehmet ÇelikSonali ChakravortiChantima ChokloikaewDeniz ÇiçekKayhan CivelekAyşe CoşkunSaul CooperBülend ÇorbacıoğluByron CulpepperSusie Deanaİpek DedeoğluEva DeFurMelda DeğirmenciAli DemirciDoğan S. DereliJuanita DewanDiana DiBernardoSevil DinçmanBegüm DinlençÖzgen DoğanZeynep DumanYesecan EgeMeltem ElitaşThe Emre FamilyEren ErdemgilÖzgün ErdoğanMüge ErkanYeşim Erke-MagentKadriye ErkulAli Engin EruguzKaren FagerstromTimothy FallonMary Lou FiganmeşeRachel FranzblauMichael B. Nelson andSandra J. GantBeyhan GardnerSusan GarelickGrover GeiselmanErol GelenbeBernadine J GilroyAnıta GinocchioOnur GökUmut GökçesuGülin GöktepeCarol Ann Goldberg-AydınBruce GoldmacherElsie M. GoodwinAteş GöralCüneyt GözüLori GrossJoe and Linda GrussCynthia GuadalupeEzgi GülcanGülay GülekAtilla GünalAyla GürleyenTolga Habipİda HabtemichaelJaime HansenWilliam HansenJ. & L. HarreMetin HassuCüneyt HavlıoğluMeridith HeckWendy HeilbutRebecca HildÖzden HoodbhoyThe Horowitz FamilyKaren HoversenMotria N HukDeniz İbrahimDamla İkbalRebecca İmburgiaAhmet İnalPelin İnciİbrahim Volkan İşlerAli İsmailoğluBryant JenkinsFaik KahyaoğluMelissa KandelDonald M. KaplanÖmer KarabeyBeyhan KarahanLeyla KarakaşJoyce KaufmanEbru KaymakFarida KazvinovaTracey KeeganTeciman KeskinSarah KimPınar KipBirol KirayoğluBurcu KınayEdib KırdarHarriet KodisJack KolodnyTülin KorganRachel KortAlper KüçükuralNaz KurdoğluBurak KurtunOrçun KurugölSusie LeeStacy LentzJoyce and Larry LevineHoward and Gareth LevySharon LisitzskyAmy LittletonPhylis LondonNathan LuntDilek MarshKumi MartinLeyla Erk and Lincoln McCurdySelin McCurdyThomas McGeeJennifer MonahanDenise MooreKenneth MukamalTracey MulgrewMurat MunganPatrick MurrayChristine NashMichael NewmanKathy NicholsonIra NierenbergOnur OkuturGökçe Akın ÖlçümGüngör Onanİbrahim OnaralGülengül ÖncelKutsi OnurSilvana OrdonezAhmed OrhanHakan ÖzakbaşEvren ÖzargunAbdülkadir ÖzbekOnur ÖzcanEser ÖzdemirEkin ÖzdemirHaluk ÖzdemirGökhan Barış ÖzdenerSait ÖzdoğanSanem ÖzduralFahri ÖzezerAhmet ÖztürkZafer ÖzyurtJeanne PaeEren PamirPera Soho, LLCSümer PekRobert PerryBarry PiafskyTracy RentzRetail Aid Business SolutionsKaren RhodesDeborah RiedersHarlan RobinsRoberta RomanAmy RosenGail RosenSandra RothLatasha RuizJeannie RujikarnHeather RuplinAyşe Elif SabuncuEsra ŞahinerAycan SancakÖzgün SaranNecla SarıkayaMindy SchechterSharm ScheuermanOlivia SchmidtTamer and Elif SeçkinSerin SeçkinMustafa and Nurseli ŞekerCeline ŞekerGülşah ŞenolCüneyt SerdarTabassum SharifMarlene ShragoRobert ShumanSuzanne SimonettiChristine SiscarettiTuğba Çolpan andLindsey SkibellIsidore K. SmartSedef SmithRahmi SoyugençMarcelina StychnoAnita SuchdeoNevin Berkmen andOğuz TanrıkuluBarış TaşdelenÖzkan TerziGail M ThalheimerDilek TınayBora TokluManuella TopsidelisLeigh TricamoNancy TricamoHoracio TrujilloBertan TurhanHakan TürkmenoğluBehçet TüysüzoğluAhmet TüysüzoğluMarc UbrachŞebnem Uge-ScottAydan UyarMichael La ValleSamantha VanHornMesve VardarSertaç VarolChris VerilloSamantha WallackJeanette WalshSabrina WeaverCarolyn WeilTom WelchSarah WelchNathan WhiteJayne WhiteSallie Yon WilliamsKristin Canavan WilsonMicheline WilsonZeynep WironenKenneth WolkonNicole Wong-KopsteinJoy WygantAtilla YaprakZeliha YaşarSoner YaştıNancy YenSharon YeshayaEmine YiğitJeff YonteffAbdülkadir YurtSage ZaheerCorporationsBank of AmericaChevronJP Morgan ChaseMicrosoft4000 41

Team’’Turkish Philanthropy Funds isan organization full of strongand talented individuals.We are blessed to have a verydedicated team that excels when’’confronted with challenges.– Bilge Öğün BassaniOur ValuesOur team is a reflection of the values we holdup high at TPF; knowledge, accountabilityand trust. These values guide our professionalsand volunteers at every step of the way.We also take great pride and joy in what we do.We hope you do, too.4243

TeamBoard of DirectorsCHAIRHaldun TashmanFounding Partner, TurkishPhilanthropy Funds;Board of Director, ArizonaCommunity Foundation;Former FoundingPartner of The TechGroup; Founding Partnerof Tashco Industries,Inc. and Trustee of BoluCommunity FoundationPRESIDENT & CEOÖzlenen Eser KalavFounding Partner,Turkish PhilanthropyFunds and RetiredCitibank ExecutiveVICE-CHAIRMurat AğırnaslıFounding Partner,Turkish PhilanthropyFunds and CEO, AgimeGroup LLCSECRETARYGamze AteşEditor, Vogue Turkeyand Former Executive,DHL WorldwideMehmet Lütfi KırdarSenior Vice President,Financial AdvisorAydın KoçAngel Investor andFormer President/CEO,BitBlitz CommunicationsBurcu MirzaLeadership Council,Public Service Center,Massachusetts Instituteof TechnologyErinch R. ÖzadaFounding Partner,Turkish PhilanthropyFunds and ManagingMember, Galata BusinessAngels, TurkeyAdvisoryBoarduTREASURERMustafa Kemal AbadanFounding Partner, TurkishPhilanthropy Fundsand Architect/Partner,Skidmore, Owings &Merrill LLPBilge Öğün BassaniSenior Fellow, FXB Centerat Harvard Schoolof Public Health;Harvard University,Former CEO, FXB andUN StaffZiya BoyacıgillerFounding Partner,Turkish PhilanthropyFunds; Faculty, SabanciUniversity and RetiredExecutive, MaximIntegratedLou Anne King JensenFounder and President,Chrest FoundationNicholas C. PorcaroArchitect - Principal ofSMC Holding LLC andFounder/President,ANSA, Inc.Pradeep KashyapVice Chair, AmericanIndia FoundationAyşe Cihan SultanoğluAssistant Administrator,United NationsDevelopment Program4445 00

TeamJunior BoardManagementErman AğırnaslıGülşah ŞenolDoruk ÇelenAylin RyanÖmer ÇorluhanAyşe SabuncuConnect with TPF and Stay Up to Date with News That Matters to Youwebsite:tpfund.orgInstagram:Turkish PhilanthropyFundsPinterest:pinterest.com/tpfund/twitter:@tphilanthropyYouTube:Turkish PhilanthropyFundsfacebook:Turkish PhilanthropyFundsExecutive CommitteeMurat AğırnaslıŞenay Ataselim-YılmazÖzlenen Eser KalavHaldun TashmanAudit CommitteeMustafa Kemal AbadanCivan GökayDavid ListonCengiz YağızCommunicationsCommitteeGamze AteşElmira BayraslıAydın KoçGovernance andNominations CommitteeBilge Öğün BassaniLou Anne King JensenMehmet Lütfi KırdarInvestment CommitteeHaluk SoykanErinch ÖzadaAdministrationÖzlenen Eser Kalav,President & CEOŞenay Ataselim- Yılmaz,Chief Operating OfficerPedro Noly Bernardo,Chief Financial OfficerI. Cem Onur,Chief Technology OfficerAyça Arıyörük,ConsultantMelis Mine Figanmese,Program AssistantInternZehra KayıAudit FirmDadia VallesVendiola, LLPLegalHerrick, Feinstein LLPDesignCohoe BakerInfographicsZoe-Zoe SheenÖzlenen Eser Kalav,President &Chief Executive OfficerÖzlenen brings to Turkish PhilanthropyFunds four decadesof organizational leadershipexperience from the privatesector. Özlenen is the drivingforce behind organization’s strategic direction andplans for fiscal growth and stability. As a founderof TPF, she offers leadership and oversight to allaspects of the organization on a pro-bono basis.As a Citibank executive, she lived and worked inIstanbul, New York, Manila, and Tokyo serving asCFO and Division Chief Administrative Officer, StrategicPlanning Officer and also as Director of Recruitingfor Citibank’s Investment and Institutional Banks.Özlenen holds an MS in Biochemistry from SmithCollege, an MBA from Columbia Business School,and is a graduate of Robert College of Istanbul.Şenay Ataselim-Yılmaz,PhD, Chief OperatingOfficerSenay is the Chief OperatingOfficer and has been with TPFsince its inception in 2007.Şenay offers leadership andcoordination for all aspects ofthe day-to-day management of the organization.She works with the CEO and the Board of Directorsto develop and execute organizational strategyand planning including grant-making programson women empowerment, education and socialand economic development. Prior to joining TPF,she served as an International Herst Fellow at theCenter on Philanthropy and Civil Society in 2005.u4647

TEAMManagement continuedShe received her PhD in Political Science from theGraduate Center in City University of New York,specializing in civil society and philanthropy. Sheholds an MPA in public policy and in non-profit managementfrom Baruch College and a BA in politicalscience and public administration from University ofAnkara in Turkey.Ayça Arıyörük,ConsultantAyça provides advice to executivemanagement and offersstrategic planning and communicationssolutions. Ayça hasover 10 years of experience inpolicy advocacy and multistakeholderengagements. She received her MAfrom John. C. Whitehead School of Diplomacy andInternational Relations at Seton Hall University anda BA in Political Science and International Relationsfrom University of Nebraska, Lincoln.Melis Mine Figanmese,Program AssistantMelis joined TPF in 2012 aftercompleting her Master’s degreein International Relationsin Geneva, Switzerland. Melisis responsible for communications,public outreach andsocial media. In addition she manages the relationshipswith and among the grantee organizationsand the donors. While in Geneva, she worked asa communication consultant for the Office of theUnited Nations High Commissioner for HumanRights where she served as the project manager forHuman Rights Day. Melis studied on scholarship atthe Pennsylvania State University and received herBA International Politics.Pedro Noly Bernardo,Chief Financial OfficerNoly is responsible for financialaccounting and reporting andbook-keeping at TPF. He has35 years of experience in thefinance industry and was theFinancial Controller coveringseven countries in the Asia region for Citibank bothin the Philippines and the United States. Noly has anaccounting major from the University of Philippinesand an MBA from Asian Institute of Management.I. Cem Onur,Chief Technology OfficerCem is responsible for providingfor the long-term technologyneeds of the organization.He brings to TPF over a decadeof experience on technologybased businesses fromnetworking, software/technology development toinformation, marketing and graphical design. Hehas a BA degree in Architecture from Mimar SinanGüzel Sanatlar University in Istanbul in Turkey.Site Visit Caption: Dayle Haddon and TPF’s Melis Mine Figanmese (front left) with Scholarship Recipients in İstanbul.Radyo Türküm: TPF in the Media. Şenay Ataselim Yılmaz with Radyo Türküm producer taking questions from the Turkish community.48 49

TEAMNews… News… News… News…With Love from Van:Kilim Workshop Girls Visit New YorkOn July 9, Hisar Anatolian Support Society, The BootstrapProject and TPF hosted a kilim workshop demonstrationat Double Knot Gallery in New York Cityto raise awareness on the value of kilim workshopsfor the livelihood of women. TPF community sawthe women perform their life supporting talents inweaving kilims. All proceeds went to the new kilimworkshops in Van.Young Professionals for TPF Raise Money forVan and AutismYoung Professionals for TPF raised funds for twomajor campaigns with events last year. On October15, “Semra is Calling” campaign raised funds tobuild the girls dormitory of Van Yüzüncü Yıl Universitydestroyed by the earthquake. On February12, all proceeds from the Mardi Gras MasqueradeFundraiser supported special education for autism.GlobalGiving matched 30 percent of the funds raisedonline at both campaigns. Young Professionals forTPF’s mission is to be a force for social change.TPF Celebrates the International Dayfor WomenOn March 8, 2013, to mark the anniversary ofInternational Women’s Day, TPF brought togetherover 80 professional women to meet with TPF’s localpartners. The participants heard from Gülden Türktan,President of KAGIDER (Women EntrepreneursAssociation of Turkey) and representatives fromWomen for Women Human Rights in Turkey.The Schwab Foundation Social Entrepreneurof the Year Talks to TPF SupportersOn April 11, Bedriye Hülya, an entrepreneur and thefounder of B-fit, met with TPF supporters. Ms. Hülyawas selected Social Entrepreneur of the Year by theWorld Economic Forum’s sister organization, TheSchwab Foundation. B-fit is national chain of womenonlygyms, utilizing a franchising model that empowersTurkish women through exercise, education andcommunity building. Since 2006, Bedriye Hulya hasgrown the business to over 216 gyms in over 46 locationsaround Turkey.UNICEF Goodwill Ambassador Teams upwith TPF on a Field MissionIn May, Dayle Haddon, UNICEF Goodwill Ambassadorand a champion of women teamed up with TPF to visitgrantees in İstanbul, Trabzon, Diyarbakır and Van for aweek-long trip. The grantees provide scholarship andvocational training for women and girls to break awayfrom an inherited cycle of poverty. Ms. Haddon and TPFalso visited refugees in Hatay, the Turkish city borderingSyria, and assessed the living conditions. Hatay hasbecome a temporary home to thousands fleeing fromthe uprising turned civil war in Syria. TPF’s Melis MineFiganmese provided real-time reporting throughthe popular online daily Huffington Post. Her storieson the action packed field trip can be found attpfund.org/Blogs.TPF Turns 6 Years Old!On July 14, TPF board members were joined byfounders, supporters and NGO partners for a receptionin Istanbul to celebrate TPF’s sixth birthday.TPF was founded in 2007 by a small group ofTurkish-American pioneers, who are now lookingforward to passing on the baton.Board Retreats to İstanbul toDiscuss the FutureOn July 15, TPF Board gathered in for a retreat atLavanda Hotel in İstanbul to take stock and to offera direction that would set the organization on apath to financial stability and greater impact. NakiyeBoyacıgiller, the dean of Sabancı University Schoolof Management facilitated the two-day sessionscentered on setting goals and improving organizationaland social performance.Top left: Site Visit: Everybody loves an Iphone! Dayle Haddon at Kilim Workshop. Top Right: Board Retreat Dinner, İstanbul: (From leftto Right) Uğur Tuncok (Bolu Bağışçılar Vakfı), Namık Ceylanoğlu (TÜSEV), Mrs. Ceylanoğlu, Şerafettin Erbayram (Bolu Bağışçılar Vakfı).Center left: Mardi Gras Masquerade Fundraiser Benefiting Autism Center: Seden Elter, HADD Center right: Dayle and Melisin Hatay Bottom left: International Women’s Day Reception: (From Left to Right) Füsun Hofer, Cynthia Steele, Selda Fikret PaşaBottom right: Board Retreat Reception, İstanbul: (From Left to Right, Front) Nihal Tashman, Serpil Ayaslı, Özlenen Eser Kalav,Bilge Öğün Bassani (Back) Haldun Tashman, Şenay Ataselim Yılmaz, Murat Ağırnaslı.50 51

Financial HighlightsAudited Financial Summary as of June 30, 20132013 2012Assets Cash $2,200,178 $1,849,788IInvestments $2,176,265 $2,381,005Other Receivables $29,375 $15,00Real Estate Property $750,000 $750,000Total Assets $5,155,818 $4,995,793Liabilities Accounts Payable 24,030 $1,069Unearned Income - $12,000Total Liabilities $24,030 $13,069Net Assets Unrestricted $2,395,765 $2,343,459Temporarily Restricted $680,028 $644,217Permanently Restricted $2,055,995 $1,995,048Total Net Assets $5,131,788 $4,982,724Total Liabilities and Net Assets $5,155,818 $4,995,793Revenue Contributions $738,596 $1,729,813Investments $121,277 $74,200Fees $26,375 $32,000Realized Gains (Losses) $(70,867) $38,615Unrealized Gains (Losses) $49,540 $(25,170)Total Revenue $864,921 $1,849,458Grants & Expenses Grants $399,374 $789,098General & Administrative $312,272 $262,081Development $4,211 $9,556Total Grants & Expenses $715,857 $1,060,735Increase in net assets $149,064 $788,723Net Assets at beginning of year $4,982,724 $4,194,001Net Assets at end of year $5,131,788 $4,982,724*The full audit report is available on TPF web site.52

216 East 45th Street, 7th Floor/AIFNew York, NY 10017P. 646.530.8978-88F. 212.661.9350E. info@tpfund.orgwww.tpfund.org00