EFocus<strong>in</strong>g onF<strong>in</strong>ancial ResponsibilityEven with record market decl<strong>in</strong>es and dark economic clouds,we are not prone to panic. We rema<strong>in</strong> focused on a coherent<strong>in</strong>vestment philosophy geared toward achiev<strong>in</strong>g <strong>in</strong>vestmentgoals. <strong>Tak<strong>in</strong>g</strong> the short view and adopt<strong>in</strong>g a defensive postureRecognitionPrestigious local and national organizationshave honored us with dist<strong>in</strong>guished awardsand recognition. Many are on display <strong>in</strong> ourheadquarters, <strong>in</strong>clud<strong>in</strong>g:• Education for the World Ahead: Commitmentto Excellence award from the Mounta<strong>in</strong> ViewWhisman School District.• Beacon of Light Award for community servicefrom the Santa Clara County Office of HumanRelations.• Mayor’s Award from the City of Mounta<strong>in</strong>View for the community foundation’s newheadquarters.• Certificate of Special Congressional Recognitionfor contribution and service to the communityfrom U.S. Rep. Mike Honda.• Four Wilmer Shields Rich Awards for excellence<strong>in</strong> communications from the national Councilon Foundations: ONE: Innovation ThroughPhilanthropy magaz<strong>in</strong>e (gold), <strong>Community</strong> InputProject issue briefs and www.siliconvalleycf.org(silver), and public <strong>in</strong>formation campaign (bronze).• Ozzie design award from Folio: magaz<strong>in</strong>e forONE: Innovation Through Philanthropy.until conditions improve is likely to do more harm than good.Long-term perspective guides both our <strong>in</strong>vestment philosophyand many of our fund advisors’ charitable goals.In 2008, we successfully completed the merger of our<strong>in</strong>vestment pools and our <strong>in</strong>stitutional databases, mak<strong>in</strong>g fundmanagement and access to fund <strong>in</strong>formation even easier forfund advisors. Each of the five pools is carefully constructedand diversified across global <strong>in</strong>vestment opportunities tomaximize return and m<strong>in</strong>imize volatility. Also, <strong>in</strong> 2008 wereviewed each fund’s activity and worked with advisors to align<strong>in</strong>vestments with their philanthropic goals and time horizons.As an <strong>in</strong>formation resource and <strong>in</strong> the spirit of transparency,we released Invest<strong>in</strong>g <strong>in</strong> the Common Good <strong>in</strong> fall 2008. Thisreport offers detailed f<strong>in</strong>ancial <strong>in</strong>formation, an overview ofour <strong>in</strong>vestment portfolio and a report on our first <strong>in</strong>dependentaudit. Moss Adams LLP, a lead<strong>in</strong>g national account<strong>in</strong>g firmwith extensive nonprofit experience, performed the audit, andthe results speak to the successful, unprecedented transitionof two complex community foundations <strong>in</strong>to one of thenation’s largest.We will cont<strong>in</strong>ue provid<strong>in</strong>g detailed, timely f<strong>in</strong>ancial<strong>in</strong>formation for our family of donors, nonprofits andprofessional advisors. Reports and other f<strong>in</strong>ancial <strong>in</strong>formationare available <strong>in</strong> pr<strong>in</strong>t and onl<strong>in</strong>e, and throughout the year,we will provide f<strong>in</strong>ancial and <strong>in</strong>vestment updates. Thistype of report<strong>in</strong>g is essential for an <strong>in</strong>stitution of our sizeand complexity, and is consistent with our values of publicaccountability, <strong>in</strong>tegrity, responsiveness and <strong>in</strong>novation.Our organization, like virtually every company andnonprofit across the country, has felt the impact of theeconomic downturn, lead<strong>in</strong>g to difficult budgetary decisions.We are watch<strong>in</strong>g every dollar and cutt<strong>in</strong>g back whereverpossible. But we rema<strong>in</strong> vigilant and committed to ourmission. Too many people depend on us, and we willcont<strong>in</strong>ue to make strategic decisions and take necessaryactions to serve our community today and position ourselvesto emerge even stronger when the economy improves.• “Best website” f<strong>in</strong>alist from the PR NewsNonprofit PR Awards.• VFW National Home for Childrenbronze star donor.cF<strong>in</strong>ancial <strong>in</strong>formation <strong>in</strong> this document is currentas of Dec. 31, 2008. Read updated <strong>in</strong>formation,learn more about our <strong>in</strong>vestment philosophy anddownload Invest<strong>in</strong>g <strong>in</strong> the Common Goodat www.siliconvalleycf.org/f<strong>in</strong>ance6 <strong>Silicon</strong> <strong>Valley</strong> <strong>Community</strong> Foundationwww.siliconvalleycf.org
Mov<strong>in</strong>g Forward <strong>in</strong> 2009In 2008, we proved that our new ways of th<strong>in</strong>k<strong>in</strong>g and, more important, new ways of do<strong>in</strong>g are on po<strong>in</strong>t with the issuesour community faces today. But we’re not through the storm yet. As our region, our nation and our world undergojarr<strong>in</strong>g changes unlike any that most of us have experienced, we have an enormous opportunity to provide real leadership<strong>in</strong> challeng<strong>in</strong>g times. We want to grow and flourish as a region, not as a cha<strong>in</strong> of <strong>in</strong>dividual communities divided by cityand county borders and connected only by freeways and El Cam<strong>in</strong>o Real. However 2009 unfolds, we will weather theturbulent times ahead as one. Whatever your affiliation with our community and community foundation, we say thankyou. We hope you look to us as a partner <strong>in</strong> mak<strong>in</strong>g our region, and all of the communities with<strong>in</strong> it, a better place.By the Numbers$264 million: Total grants awarded <strong>in</strong> 2008.$36 million: Grants from our corporate funds.$11.3 million: International grants.$5 million: Raised for safety-net organizations from our endowment, donorsand our family of fund advisors.$1.5 billion: Total assets under management.21,551: Visitors that have used the free community conference rooms <strong>in</strong>our Mounta<strong>in</strong> View headquarters and San Mateo and San Josésatellite offices at 839 meet<strong>in</strong>gs.120,000: Children served nationally by Rais<strong>in</strong>g a Reader, one of oursupport<strong>in</strong>g organizations and an award-w<strong>in</strong>n<strong>in</strong>g literacy programserv<strong>in</strong>g low-<strong>in</strong>come families.10,963: Number of grants distributed through our endowment andphilanthropic funds to nonprofits <strong>in</strong> our region and beyond.8,182: Total subscribers to our three e-newsletters specificallydesigned for donors, professional advisors and communitymembers.6,000: Children who prepared for school through Kickoff to K<strong>in</strong>dergarten,part of our school read<strong>in</strong>ess program, s<strong>in</strong>ce 2001.1,500-plus: Philanthropic funds at the community foundation.1,300: People who helped us start a new tradition at the2008 Regional Meet<strong>in</strong>g.291: Scholarship grants awarded to hard-work<strong>in</strong>g students <strong>in</strong> our regionthrough 46 scholarship funds.50: Local nonprofits represented at our Food and Shelter Summit.39: Corporations that manage their philanthropy through thecommunity foundation.9: Information sessions held throughout the region to discussour new strategies.6: Weeks <strong>in</strong> which donors matched our $1 million Safety Net Fundchallenge goal, which they went on to exceed by 70 percent.1: <strong>Community</strong> foundation serv<strong>in</strong>g San Mateo andSanta Clara counties.www.siliconvalleycf.org <strong>Silicon</strong> <strong>Valley</strong> <strong>Community</strong> Foundation 7
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