Rasmuson Foundation News and Information

Offering�safe�harbor from�domestic�violence

Seth Kantner — Sun, 13 May 2012 12:00:01 +0100

Mission Statement
Maniilaq Association for the
Kotzebue Family Crisis Center

Maniilaq Association is committed to individual responsibility for health and quality care through tribal self-governance. Maniilaq Association is seen as the premier model for creating successful, healthy communities through the planning, development and strengthening of village-based services supported by strong, accountable tribal self-governance. The Family Crisis Center is a seven bed emergency shelter that provides safety and support services to victims of domestic violence and sexual assault.

In Kotzebue�-unsheltered geographically, treeless, windswept and squatting on a gravel spit almost an island--our blizzard of the winter steps into town on a Friday with a reassuring 34 degrees below zero, drifting snow, one sixteenth mile visibility and northwest winds gusting to 40. Frozen ocean rises to low land�-white on white. Wind chills pass -100. Walking to the post office I fall down drifts I can't see. Buried trucks loom in the gloom of what yesterday was street.

But, storms keep our pride alive. Adversity and weather define who we are; this amalgam sort of our last shield from the coming Kmart conformity. On days like today, off the sea ice west of Front Street, screams the white wall of Big Nature in her old and icy mood. For that reason some of us find pure cheer in having our heating oil once again in danger of becoming the consistency of peanut butter, gratified to see folks stumbling past each other in parkas, drawn wolf ruffs and masks, unwittingly waving to people whom they regularly despise.

Back inside, unfortunately the phone still works and is ringing. A friend is worried and tells of a polar bear
reported at the post office. I didn't see it this morning; I did get some catalogs though. Not a track or sighting has been confirmed, but people are staying inside, rumors are piling up all over town. Apparently it's a nineteen footer. I wonder how big it'll be by evening.

The blizzard--and possibly the bear tidings--have canceled the kindergarten potluck, the Teen Center and Lion's Club dances. This according to Johnson Greene, dry and unimpressed, on AM radio KOTZ. Village air services and certain businesses have shut down. He plays a recorded weather forecast: Wind chill advisory to 120 below. Avoid unnecessary travel! Protect life and property! The National Weather Service emergency bulletins twinge us all with warm pride. But that's as far as the warnings get up against the needs of our daily lives, shelter, warmth, food and friendship.

In the evening, I walk the streets of Kotzebue for elucidation. A pearly moon gleams up in a dark sky shrouded with snow gusting south. My face feels like someone is bringing an iron up to temperature on it. I pull my mask up to my eyes, my otter hat down to meet it. The mask has quarter inch holes in a circle around the mouth. My lips freeze. Ice on my eyelashes sticks my eyes shut. I'm happy again, finally not homesick to be upriver, away from this crowded, noisy metropolitan area.

The streets in places are drifted halfway up stop signs, wind-scoured in others, the snow white and hard as porcelain. By the AC grocery store I pass a masked person--maybe a woman, maybe a life-sized Ninja Turtle. It waves. In front of the old-folks home, I make out Laura Frankson standing in the swirling snow in her tropical-print parky. "Aana (grandma) Marlboro" --she's out 365 days a year in her parky and snow pants, chain smoking, with a Pepsi in the same hand. I take her presence outside as a sign that I'm sane. Who wouldn't be reassured to see a seventy-one-year-old woman with a missing thumb out enjoying a Marlboro and a Pepsi in a mind-numbing 100 below?

Young guys--and girls, I guess--wearing Darth Vader snowmobile masks scream past me on Polaris's and Arctic Cats. The machines make anguished-metal sounds. The young people gun their throttles, the call of the hormone. Wind chill apparently has no affect on that force of nature.

Down the street, houses are hard to make out in the moving snow. I pass the family shelter. It looks like any other house�-probably for a reason--except there's a wheelchair ramp sifting the drifts. In the window a woman peers out. Her eyes have a hollow look, and dark circles underneath. For an instant I recognize her, a girl I knew as a kid back in the village, back in 1979. She turns away, disappears, not recognizing who it is in these layers of clothes and snow, or maybe time.

Tin.aa Pendant

Mike Jackson — Sun, 13 May 2012 12:00:01 +0100

Mike Jackson
Tin.aa Pendant
shell, beads
2010
Alaska State Museum

2004 annual letter to alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:53 +0100

2004 Annual Letter to Alaskans

"Work to make a living; serve to make a life." So observed renowned adventurer, author, actor, pundit and philanthropist Will Rogers, who, along with pilot Wiley Post, tragically lost his life in 1935 here in Alaska attempting the world's first trans-polar flight to Moscow. While philosophers have extolled the virtues of service above self since the beginning of time, this practical observation by Rogers serves as a particularly meaningful lens through which to view the Rasmuson Foundation. A legacy of individual commitment to service to strengthen Alaska's quality of life inspired the Foundation's creation forty-eight years ago. This commitment to Alaska continues to set its direction today. On behalf of the Board of Directors, it is my pleasure to present the Rasmuson Foundation's first annual letter to Alaskans.

Guided by my father, Elmer Rasmuson's vision of "supporting projects of lasting impact for the public benefit of all Alaskans", the Foundation invests in nonprofit organizations and projects in Alaska. Since 1955, the Foundation has awarded approximately $64 million for over 1,000 projects across the state, in the areas of health and human services, arts and culture, organizational capacity- building, economic development, and education. In 2003 alone, we awarded $36,456,000 for 171 grants, paying out $17,153,502 to well-managed nonprofit organizations providing unique public services to Alaskans.

Of note, the recent growth of Foundation resources allowed us to announce a new 10-year, $20 million Arts & Culture Initiative that addresses the broad cultural community. We asked both foundation staff and people from the state's arts community to help us generate this initiative, which will be introduced in stages in 2004. We continue to take great pride in awarding small capital grants to organizations such as the Ester Volunteer Fire Department for Jaws of Life equipment, the Nome Preschool Association for preschool equipment and furnishings, the Petersburg Youth Program for furnishings, equipment and computers, the Senior Citizens of Kodiak for computer equipment, and Valley Community Recycling for a forklift. Our admiration runs deep for our grantees and the good work they do in all corners of our state.

In addition to investing through our grantmaking, we play a catalyst role in other important ways:

Convener: Our Board and staff travel extensively within the state, engaging communities in discussions about projects that are felt to be of the highest priority. Additionally, we regularly convene groups from across the state for informational discussions or to provide guidance in our areas of interest. We respect the collective expertise of our grantees and other practitioners, and use these opportunities both to ensure that our approach is responsive to needs and to improve our processes.

Motivator: We are committed to structuring awards in the form of a challenge that requires a given community and its citizens, or an organization and its supporters, to meaningfully contribute to the financial success of projects they identify as strategically important. In doing so, the community or organization invests in its own success.

Networker: Our staff regularly works with applicants to identify other funders who might be interested in a project, regardless of whether or not we ultimately invest. Additionally, each summer, we host noted Outside foundations for an intensive week of learning about the unique philanthropic opportunities here in Alaska. The week is structured to allow Alaskan nonprofit and civic leaders to meet with these national funders.

Collaborator: My father observed that "Helping others is an Alaskan tradition." In short, no one can go it alone, and the Foundation is no exception. The process of collaborating takes more time, but yields more effective and sustainable outcomes than might be possible by working alone. In 2003, we partnered with grantees, communities, private, public, and philanthropic peers on a majority of our awards.

Our ability to both continue and strengthen our commitment to Alaska relies on well-managed resources. Since my grandmother Jenny Rasmuson and my father Elmer established the Foundation with a $3,000 commitment, its resources have grown in ways that could not have been imagined. In 2003, our assets grew to approximately $428 million. The main objective of the endowment, which is managed according to a percent of market value (POMV) approach, is to enhance its real value in perpetuity. The Foundation continues to diversify its equity-oriented portfolio which, as benchmarked against a foundation peer group index, produced a strong 24% return last year. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grantmaking activities.

In 1964, my father remarked, "All my interests, material and emotional, are in Alaska." We worked to build a business, National Bank of Alaska, that helped to build Alaska. He formalized the Rasmuson family commitment to service by creating the Rasmuson Foundation. We know that while Alaska today is a different place than Alaska of territorial days, many of the same social and cultural issues remain unresolved. At the same time, as a result of innovative leadership in our communities, new opportunity for positive change in these areas presents itself each day. We remain inspired by and committed to working with the many nonprofit organizations in our state, who are dedicated to improving the quality of Alaskan's lives. In the tradition of Alaskans, the Rasmuson Foundation is glad to lend a hand.

Sincerely,

Edward B. Rasmuson
Chairman
May 7, 2004

2005 annual letter to alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:43 +0100

2005 Annual Letter to Alaskans

Like most people, I maintain a healthy skepticism about statistics. When encountering them, I can't help but think about the statement popularized by Mark Twain, who said, "There are three kinds of lies: lies, damn lies, and statistics." Despite my skepticism, there is one statistic that never fails to pleasantly surprise me each time I see it: individuals give over 80% of all money donated to U.S. nonprofits each year. For example, according to Giving USA, in 2003 individuals accounted for 83% of the $241 billion contributed nationwide to the nonprofit sector. That equates to slightly more than $200 billion in individual giving versus, according to the Foundation Center, the $30 billion contributed by approximately 65,000 U.S. foundations. While many believe that foundations like ours power modern philanthropy, my father Elmer felt strongly that individuals hold the key to improving society. In summarizing his personal philosophy about public service, he concluded, "Actually, what material wealth we have is merely ours on loan and impossible to keep." This was but one of the many ways in which he expressed his belief about the importance of service above self. In thinking about it, I'm not sure why the statistics on individual giving would or should be so surprising. They offer a compelling confirmation of the observation by anthropologist Margaret Mead that "…thoughtful, committed citizens can change the world; indeed it's the only thing that ever has." The statistics tell a story of individual Americans who, as evidenced by their giving, collectively agree with both Margaret Mead and my father.

On behalf of the Board of Directors, it is my pleasure to present the Rasmuson Foundation's second annual letter to Alaskans. As I look back at 2004, the Foundation's forty-ninth year, my father's words remind me of the important role that individuals, families, and society play in creating a culture of giving. Because our state is relatively young, one might guess that our culture of giving is less established than that of our peers nationwide. Again, statistics tell the story as Alaskans give 30% less of their annual incomes to nonprofits than do their peers nationwide. Because we understand that individuals power our nation's philanthropy, the Rasmuson Foundation is typically not the first, the largest or the only donor to projects we support. Therefore, we look for positive, creative ways to serve as a catalyst to stimulate Alaska's culture of giving by structuring our awards so that individual Alaskans, through financial support of projects important to their communities, realize a return on their social investment. How do individual Alaskan donors get this return? Known as "leverage", or the "multiplier effect", it is the practice of giving a small amount of money with the express purpose of attracting funding from other sources. Typically, the Foundation positions its awards as "challenges" which require organizations and communities to secure relatively significant support from their individual supporters and citizens in order to secure the Foundation's contribution. The result is that the impact of each individual donation or community commitment is "multiplied" when matched by institutional funders. This ultimately strengthens our state's culture of giving and enhances the long-term sustainability of organizations we support.

In 2004, the Foundation continued its strategy of creating opportunities for Alaskans to see a return on their individual giving as we awarded $20,897,000 for 274 grants across the state, and paid out $22,562,526. As mentioned, we employed "challenge" for a majority of our awards. The new $7.7 million Homer Library serves as a good example of a challenge grant in practice. In perhaps the strongest statement about the new library's importance to the community, Homer citizens, with a 62% majority, passed a $2.2 million revenue bond to support 29% of the project's cost. Local fundraising and city contributions added another $2 million or 26%. A coalition of public and private institutional funders provided $950,000 or 12% of the cost. The Rasmuson Foundation awarded $1.2 million (15% of the project) contingent upon Homer committing to obtaining the balance through its fundraising efforts, including additional applications to private funders who, at the time of our award, were considering another $1.1 million (about 13%) in awards. As you can see, each dollar invested attracted additional investment, multiplying that dollar's impact.

We used this same challenge approach with Tagiugmiullu Nunamiullu Development Corporation in Barrow for construction of much needed senior housing in 5 North Slope communities; the City of Palmer (citizens there passed a general obligation bond for 50% of the project's cost) for a new indoor ice rink facility; Iliuliuk Family and Health Service in Unalaska for a health clinic renovation and expansion; Senior Citizens of Kodiak for a facility renovation; and for construction of health clinics in Deering, Kobuk and the Native Village of Minto. We partnered with the Alaska Community Foundation and the Municipality of Anchorage to stimulate individual support for our park system through a lead gift to the newly established Anchorage Park Foundation. The Alaska Community Foundation is emerging as an excellent partner through which individual Alaskans can work to direct personal giving.

While our awards have historically been made solely to well-managed nonprofit organizations providing unique public services to Alaskans, in 2004 we continued to develop the programs associated with our 10-year, $20 million commitment to the arts and named 17 Alaskan artists from various disciplines as our first Individual Artist Award recipients. We are increasingly developing programs, such as those associated with the Arts & Culture Initiative, to both meet unmet needs and spur innovation. In 2004, we announced the Sabbatical Program to provide health and human service leaders, who typically suffer from high rates of burnout, with up to 6-months of paid leave. For a sector which experiences abnormally high rates of leadership turnover, we believe that this is a first step towards increasing the average tenure of our best executives, who must commit to staying at the organization for a minimum of one year after the sabbatical's completion.

At the same time, we continue to take great pride in awarding small capital grants to organizations such as Cross Road Medical Center in Glennallen for technology; the City of Hooper Bay Police Department for defibrillators; the Juneau Symphony for instruments; the North Pole Rotary Club Foundation for a community skateboard / BMX park; Talkeetna Community Radio for automation and recording equipment; and the City of Unalaska for bilingual children's materials for its library collection. Since 1955, the Foundation has awarded approximately $86 million for over 1,250 projects across the state, in the areas of health and human services, arts and culture, organizational capacity-building, community and economic development, and education.

Our ability to both continue and strengthen our commitment to Alaska relies on well-managed resources. In 2004, our assets grew to approximately $508 million as the final assets from my father's estate were transferred to the Foundation. The main objective of the endowment, which is managed according to a percent of market value (POMV) approach, is to enhance its real value in perpetuity. A POMV approach means that the Foundation is committed to spend no more than a set percent of the annual average market value of its endowment. This set percent, which is slightly more than 5%, is based on a combination of IRS regulation and the expected difference between the total annual return and the rate of inflation. The Foundation continues to diversify its equity-oriented portfolio which produced a 10.45% return last year. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grantmaking activities.

When my father and I chose, through the Foundation, to reinvest our family's material wealth in Alaska, we knew that this commitment alone could never meet our state's growing needs. We understood that the Foundation could help strengthen Alaska's culture of giving by structuring awards in a manner that challenged individuals and communities to collectively give to make a difference. Ask the communities and citizens of Bethel, Haines, Homer, Palmer, and Wrangell about the "multiplier effect". It works. The level of giving by local citizens to projects of community importance is perhaps the strongest indication of commitment that any institutional funder can receive. As we look forward to the Foundation's fiftieth year, we remain committed to strengthening the culture of giving in our state by working in partnership to improve the quality of life for all Alaskans. Over the course of a lifetime, my father came to "appreciate that the "currency of value" is really not money but the impact of a generous spirit." This is really what a culture of giving is all about. It's something that statistics will never be able to fully describe.

Sincerely,

Edward B. Rasmuson
Chairman
March 14, 2005

View past letters:

2004 Annual Letter to Alaskans

2006 annual letter to Alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:34 +0100

2006 Annual Letter to Alaskans

When my grandmother Jenny, and my father Elmer, began the Foundation through a declaration of trust 50 years ago in 1955, they did so both out of concern and with purpose. They believed that by assisting Alaskan non-profit organizations addressing basic needs, special circumstances, the arts and education, the Rasmuson Foundation would contribute to healthy, enriched and productive lives for Alaskans of all ages. Today, the most important role of the Rasmuson Foundation Board is to ensure that the Foundation's grant making philosophy and programs remain consistent with their wishes which, in the world of philanthropy, are known as "donor intent." Our primary challenge in reviewing the Foundation's mission and philosophy each year is to successfully adapt their intent to today's circumstances while honoring their intent.

It is my pleasure to present our third annual letter to Alaskans. As I look back at 2005, the Foundation reached three important milestones. First, it celebrated its fiftieth anniversary with a Board meeting in Homer where it did what it does best: award grants with the intent of promoting a better life for Alaskans. Second, two fourth generation family members, my nephew Adam Gibbons and daughter Natasha von Imhof, joined the Board. Third, 2005 marked the fifth consecutive year of dramatic growth for the Foundation.

We've traditionally structured our awards as "challenges" in order to stimulate individual and community giving. In the process of reviewing the mission and philosophy of the Foundation, the Board recognized the opportunity to refine the Foundation's grant making program to reconfirm a key value of the founders: we place a high degree of importance on projects where the people most directly involved have invested financially. Given the family's banking history, this should come as no surprise. All successful business bankers and venture capitalists want the principals in any business transaction to have "some skin in the game" prior to investing themselves. Why did the Board feel the need to reconfirm this value? Unfortunately and all too often, as Board members of applying organizations advocate applications to us, they themselves have not invested financially in their own organizations. We recognize that board members have varying capacities to give and that charitable giving is a personal decision. We recommend that each board member make a financial gift that is meaningful and significant by their own standard. Moving forward, applicants to the Rasmuson Foundation that demonstrate 100% board giving will receive priority in funding decisions.

In 2005, the Foundation continued its strategy of creating opportunities for Alaskans to see a return on their individual giving as we awarded $20,600,000 for 250 grants across the state, and paid out $24,086,158. We announced the first six recipients of the Sabbatical Program which provides health and human service leaders, who typically suffer from high rates of burnout, with up to six-months of paid leave. We believe this to be a first step towards increasing the average tenure of our best executives. We continued to develop the programs associated with our 10-year, $20 million commitment to the arts and named four recipients of the newly launched Creative Ventures Fund which invests in a recipient organization's artistic future. In its second year, the Individual Artist Awards named 32 Alaskan artists from various disciplines as recipients. Poet John Haines of Fairbanks, Alaska's 3rd Poet Laureate, received the 2005 Distinguished Artist Award in recognition of his lifelong accomplishments in the arts. We continue to develop programs such as the Pre-Development Fund, which provides early stage technical assistance to organizations considering a capital building project, to both meet unmet needs and spur innovation.

We awarded 45 large grants of strategic importance to organizations across the state. These included Christian Health Associates to provide an administrative umbrella for Anchorage Project Access which has a mission to increase access to health care for low-income, uninsured members of the Anchorage community using a volunteer network of providers. Barrow Search and Rescue received an award to support the purchase of a new rescue boat for search and rescue operations that fall within a 100 -mile radius of Barrow. There are no Coast Guard units stationed on the Arctic Slope. We are one of a coalition of private funders from across the country supporting an important five - year capacity-building project within the Alaska Community Foundation. The project's ultimate goal is to build the necessary infrastructure to allow for the increase of their managed assets from $12 million to $50 million by 2010. We awarded a challenge grant to the New Koliganek Village Council for construction of family resource center and clinic. Finally, we partnered with the citizens of Petersburg who passed general obligation bonds in the amount of $5.8 million to support the City of Petersburg's new state-of-the-art community aquatic center.

At the same time, we took great pride in awarding 115 small capital grants during 2005 to organizations such as Anchor Point Senior Citizens for equipment to enable community emergency response training; Rural Alaska Community Action Program (RurAL CAP) for cross country ski equipment for Northwest Alaska Ski Club program to reintroduce skiing in the Arctic Northwest region; the City of Angoon for paint and equipment for totem pole renovation and weight lifting equipment for youth exercise program; the Tanana Valley State Fair Association to upgrade its facility to facilitate access for disabled Alaskans in accordance with the Americans with Disabilities Act; Soldotna Historical Society and Museum for restoration of Soldotna's first post office to original architectural form; and Valley Community for Recycling Solutions for a forklift scale and portable canvas building to improve the recycling program in the Mat-Su Valley. Since 1955, the Foundation has awarded approximately $105 million for over 1,800 projects across the state, in the areas of health and human services, arts and culture, organizational capacity-building, community and economic development, and education.

Our ability to both continue and strengthen our commitment to Alaska relies on well-managed resources. In 2005, our assets grew to approximately $523 million. The main objective of the endowment, which is managed according to a percent of market value (POMV) approach, is to enhance its real value in perpetuity. A POMV approach means that the Foundation is committed to spend no more than a set percent of the annual average market value of its endowment. This set percent, which is slightly more than 5%, is based on a combination of IRS regulation and the expected difference between the total annual return and the rate of inflation. The Foundation continues to diversify its equity-oriented portfolio which produced a 9.28% return last year. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grant making activities.

I am most proud of the work performed by our board and staff to help the Foundation evolve in a manner which honors the intent of my grandmother and father while simultaneously adapting that intent to meet the needs of today's Alaska. My father wrote that Alaskans before us had "to rely on one another to build a good community and a good life." Because we believe this to be true, the Foundation is rarely the first, the only, or the single largest investor in projects. It is also why we felt it important to reconfirm that those who approach us for support must also have demonstrated their own financial support. But this issue is much larger than just the traditional interactions we have with nonprofits about funding. As I look into the future, one of the primary cultural issues with which Alaskans will have to grapple is our collective resolve to invest our personal resources in ourselves, our nonprofits, our communities, and our state. How and when we resolve that issue has direct implications on the type, level and frequency of investment by other private and public investors across the country who will most certainly be asking "how much skin do they have in the game?"

Sincerely,

Edward B. Rasmuson
Chairman
May 1, 2006

View past letters:

2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans

2007 Annual letter to Alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:26 +0100

2007 Annual Letter to Alaskans

A Chinese proverb states, "One generation plants the trees; another gets the shade." Clearly, there is important work underway today in Alaska's communities that will provide benefit to Alaskans far into the future. Here at the Foundation, we work with "communities of location" such as Homer, Wrangell, or Unalaska; "communities of need or identity" such as artists, ethnic groups, seniors or youth; and "community organizations" such as Urban League or Anchorage Faith and Action Congregations Together (AFACT). Our nonprofit partners are important players within all community types. We all work together when searching for a solution to an issue, or to bring a project to life. Over the past five years, as our work has grown beyond our historical capital project focus, we've come to better understand the complex nature of community issues. While there is still much learning to be done, we know that the path from "tree planting" to "providing shade" can be a long one full of twists and turns.

Looking back at 2006, I'd like to highlight three important community projects that are in the planting, growing, and shading stages. First, The Alaska Department of Health and Social Services (DHSS) has the largest budget of any department in the state system, distributing over $146 million annually to approximately 300 nonprofit organizations. These nonprofits, some of the strongest and most effective service providers in the state, told us that if DHSS would consider changes to its current grant management and customer service processes, there could be a very positive benefit both to their organizations and the sector as a whole. DHSS staff members agreed as well. In 2006, the Foundation funded a study to identify opportunities to improve internal DHSS practices and strengthen relationships between DHSS and its grantees. After gathering a significant amount of community feedback and performing analysis, a series of improvement recommendations were universally endorsed. While great progress has been made in a short amount of time, much work remains, and it is too early to determine what the future might hold.

Second, rural Alaska Natives currently suffer from a rate of tooth decay 2.5 times the national average because, in general, they do not have access to the same type of oral health care that most Americans enjoy. What is today known as the Dental Health Aide Therapist program began in early 2002 as a $15,000 Foundation-supported dental health assessment to explore how to deliver high quality oral health care to rural Alaska. Led by the Alaska Native Tribal Health Consortium, the program has galvanized policy makers, the Denali Commission, foundations across the country, the dental community, and Alaska Natives to support adapting a model of dental care used in 50 countries worldwide to reverse these high rates of tooth decay. In 2006, there were eight therapists practicing in their communities, with nine more on the way. Importantly, an in- state training program was begun. This program will not only improve people's health, it will also create community-based, sustainable jobs in rural Alaska.

Finally, from educational, recreational and safety perspectives, a swimming pool is an important part of school and community life in an island community like Petersburg. A 1999 feasibility study began a seven year process to replace the community's swimming pool facility. During this time, the estimated price of the facility tripled. However, because it was a community priority, voters twice passed general obligation bonds which were complemented by federal and Foundation monies. In 2006, an enthusiastic Petersburg community opened its new aquatics center.

In 2006, the Foundation continued its strategy of partnering with communities of Alaskans as we awarded $27,590,000 for 268 grants across the state, and paid out $25,512,052. Our work continues to recognize individuals who, through their work, make Alaska a great place to live. Health and human service nonprofit CEOs Virginia Baim, Patricia Branson, Dennis McMillian, and Brenda Stanfill received awards from the Sabbatical Program. Independent expert panels selected 32 Alaskan artists from across the state to receive Individual Artist Awards for their work. Weaver Delores Churchill of Ketchikan received the 2006 Distinguished Artist Award in recognition of her lifelong accomplishments in the arts. Moving into their third and fourth years respectively, these important programs continue to be shaped both by outreach activities and recipient feedback.

We awarded 41 large grants of strategic importance to organizations across the state. These included Providence Health System to support the new cancer center located in Anchorage and Southcentral Foundation for a nationally-recognized Telepharmacy Network Project which will provide automated pharmaceutical dispensing units at 28 rural health clinics. We awarded a challenge grant to the University of Alaska Fairbanks to reinvigorate the undergraduate fisheries program over the next five years. We were one of a large group of funders of the Alaska Rural Teleradiology Network, designed by ASHNHA Program Services Company to serve 12 rural community health centers. Finally, we partnered with Northwest Arctic Borough, Maniilaq Association, NANA, and University of Alaska Chukchi Campus to support construction of the Sulainich Art Center in Kotzebue.

At the same time, we took great pride in awarding 78 small capital grants during 2006 to organizations such as American Lung Association of Alaska for a public exhibit of the history of tuberculosis in Alaska; Hope and Sunrise Historical Society for restoration of historic buildings in Hope and improvement of the museum grounds; the LeeShore Center in Kenai to replace the transitional living center's roof; the Camai Medical Center in Naknek to purchase trauma stretchers, surgical lights and cabinets; the City of Nulato for the renovation of its teen recreation center; and Willow Area Seniors for a backup generator.

Since 1955, the Foundation has awarded approximately $132 million for over 2,050 projects across the state, in the areas of health and human services, arts and culture, organizational capacity-building, community and economic development, and education.

Our ability to both continue and strengthen our commitment to Alaska relies on well-managed resources. In 2006, our assets grew to approximately $572 million. The main objective of the endowment, which is managed according to a percent of market value (POMV) approach, is to enhance its real value in perpetuity. A POMV approach means that the Foundation is committed to spend no more than a set percent of the annual average market value of its endowment. This set percent, which is slightly more than 5%, is based on a combination of IRS regulation and the expected difference between the total annual return and the rate of inflation. The Foundation continues to diversify its equity-oriented portfolio which produced a 15.03% return last year. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grantmaking activities.

Passion and commitment drive "communities" across Alaska to undertake projects or begin programs designed to enhance the quality of life for Alaskans. What begins as a concept works through the enigmatic yet necessary community process. That process can be long. It can be challenging. While one of the possible outcomes is no progress, often the result is more thoughtful and of much higher quality than that originally envisioned. In the words of 20th century French sculptor Auguste Rodin, "Patience is also a form of action." As the Foundation, in partnership with the myriad of communities across the state, focuses increasing effort and resource on more complex issues, Rodin's observation serves as a constant reminder of the importance of the community process.

Sincerely,

Edward B. Rasmuson
Chairman
June 1, 2007

View past letters:

2006 Annual Letter to Alaskans
2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans

2008 Annual Letter to Alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:17 +0100

2008 Annual Letter to Alaskans

Industrialist and philanthropist Andrew Carnegie once observed, "You cannot push anyone up a ladder unless he be willing to climb himself." While the vernacular shows its age, the principle, as valid today as it was 100 years ago, is at work behind some of Rasmuson Foundation's major initiatives in 2007. We believe a community that invests in itself is a healthy community; this simple tenet informs much of what we work to accomplish through our philanthropy.

While evaluating projects to implement in 2007, we asked whether prospective programs were designed to enkindle community participation and support. The Community Asset Building Initiative, the PFD Check-Off Program, and the Alaska Statehood Experience grant program demonstrate how philanthropy can partner with Alaskans eager to climb the ladder.

Rasmuson Foundation and community leaders from across Alaska came together to develop a program that could create vehicles to prioritize and solve local problems. The three-year Community Asset Building Initiative was launched as a pilot project to ensure that communities have access to a pool of philanthropic funds to meet local needs and sustain valued nonprofit services. Partnering with the Alaska Community Foundation and citizens from seven communities – Seward, Talkeetna, Haines, Kenai, Juneau, Homer and Petersburg – the initiative provides technical support, training and financial incentives to stimulate local charitable investment into the creation of community foundations. When communities raise at least $25,000 in gifts from at least five individuals, the Rasmuson Foundation provides a two-for-one unrestricted match plus $5,000 for local grant-making activities. The process repeats in year two. At the end of the program, Alaska will have seven new community foundations, each with at least $150,000 in permanent assets and $10,000 for local grant making while their endowed funds grow.

The same philosophy of encouraging individual philanthropy resulted in the Permanent Fund Dividend Charitable Check-off program that will debut to Alaskans filing for the 2009 dividend. Alaskans are legendary for their self-reliance and individuality; we roll up our sleeves to care for ourselves and our communities. This rugged philosophy has resulted in the formation of more nonprofits per capita than any other state – roughly 1 for every 110 residents – as Alaskans seek to help other Alaskans and solve Alaskan problems. Yet, ever increasing demand for nonprofit services far outstrips the level of public funding. To sustain the nonprofit sector that provides essential services to our state, we must increase charitable giving. The PFD Check-off program will enable Alaskans to contribute some or their entire dividend to their favorite charities. Rasmuson Foundation is committed to pay all start-up and initial operating costs associated with establishing a Permanent Fund check-off for the first three years. This new law will give Alaskans the chance to roll up their sleeves to augment public funding for important nonprofit services with their donated charitable dollars.

Finally, the Rasmuson Board set aside $1 million for the 50th Anniversary of Statehood initiative to commemorate the historic milestone in a thoughtful and substantive way. Working with the Alaska Humanities Forum, the funds will support projects of all types – arts, sciences and social – that would demonstrate the impact of statehood on its people and leave a thoughtful and thought-provoking legacy as we move into the next 50 years. We believe that rediscovering a heritage of individual responsibility is an inevitable outcome. The project has two grant categories: the "Alaska Statehood Experience"will support a gamut of projects while "AK50: Our Stories"is a mini-grant program targeted at K-12 age organizations. The Forum launched an extensive, statewide outreach effort that generated 117 completed applications and more than $7 million in requests. This project is a look back as well as a look ahead. It asks where we've been and where we're going. Somewhere along the way we know this self-reflection will reveal – and celebrate – a commitment to bettering our communities through individual responsibility.

In 2007, the Foundation continued its strategy of partnering with communities of Alaskans as we awarded $36 million for 245 grants across the state. We continue to recognize individuals who, through their work, make Alaska a great place to live. Independent expert panels selected 32 Alaskan artists from across the state to receive Individual Artist Awards for their work. In recognition of her signature ability to capture Alaska's people and day-to-day activities, as well as her dedication to documenting village life, prominent painter and printmaker Rie Muñoz of Juneau received the 2007 Distinguished Artist Award. Muñoz used the $25,000 to revisit many of the remote villages of Alaska that she painted earlier in her career. Health and human service nonprofit CEOs and Executive Directors Trevor Storrs, Candace Winkler, Gloria O'Neill, Linda Swarner, and Cheri Smith received awards from the Sabbatical Program.

We awarded 42 large grants of strategic importance to organizations across the state. These included a top-off grant to Yukon-Kuskokwim Health Corporation to purchase and install a CT digital image scanner at the regional hospital, which services 43 communities in Western Alaska; a construction grant to the Morris Thompson Cultural and Visitors Center in Fairbanks for a community gathering place where diverse cultures come together to learn, understand and appreciate one another; a family housing supportive services grant to the Alaska Mental Health Trust Authority; and a behavioral health building for substance abuse outpatient services in Palmer to Alaska Family Services.

We also awarded 68 small capital grants during 2007 for a diverse set of needs from computer equipment for the Alaska Zoo to instruments and microphones for Cordova 4-H music programs; from improvements to the Gustavus Public Library to transportation services for seniors in Juneau, Haines, Kake and Ketchikan through Catholic Community Services; and from Food Bank building renovation at the Nome Community Center to an emergency shelter cabin at Igguagnak through the Native Village of Shaktoolik.

Since 1955, the Foundation has awarded approximately $170 million for over 2,295 projects across the state, in the areas of health and human services, arts and culture, organizational capacity-building, community and economic development, and education.

Our ability to continue and strengthen our commitment to Alaska relies on well-managed resources. In 2007, our assets grew to approximately $590 million. The main objective of the endowment, which is managed according to a percent of market value (POMV) approach, is to enhance its real value in perpetuity. A POMV approach means that the Foundation is committed to spend no more than a set percent of the annual average market value of its endowment. This set percent, which is slightly more than 5%, is based on a combination of IRS regulation and the expected difference between the total annual return and the rate of inflation. The Foundation continues to diversify its equity-oriented portfolio which produced an 8.64% return last year. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grantmaking activities.

As the Rasmuson Foundation looks across the Alaskan landscape, we find many Alaskans who are actively engaged in making their communities healthy through the investment of their time, passion and giving. Andrew Carnegie was right – you can't push Alaskans up the ladder. But through matching funds, incentives for community participation, and partnerships with the public sector, you can give those ready to climb a boost.

Sincerely,

Edward B. Rasmuson
Chairman
June 1, 2008

View past letters:

2007 Annual Letter to Alaskans
2006 Annual Letter to Alaskans
2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans

2009 annual letter to alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:57:06 +0100

2009 Annual Letter to Alaskans

In the opening chapters of his memoir, "Fifty Miles from Tomorrow," lifelong Alaskan Willie Hensley recounts the challenges and pleasures of living a traditional Inupiat childhood north of the Arctic Circle in territorial Alaska. Winters on Kotzebue Sound are nine months long, the sun barely edges above the horizon, and the wind can lash so hard you cannot safely step outside. Life at minus forty degrees presented his community with unimaginable challenges. "Survival was our primary concern," writes Hensley, describing the importance of mastering essential tasks such as building kayaks and sod homes, hunting for bearded seal, reading the thickness of icepack, and storing food months in advance. "We knew cooperative effort was imperative – only by working together could we survive."

The lesson he shares of living the traditional way, that scarcity and challenge must be met with preparation and cooperation, is as true today as it was then, and this is the same lesson we ourselves applied to the works of Rasmuson Foundation in 2008. As we reflect on a year defined in no small part by systemic and tectonic economic upheaval, we also reflect on a year defined by advanced planning and cooperation.

In 2008 Rasmuson Foundation engaged in an assortment of forward-looking initiatives, projects that called out for methodical preparation with our partners. We focused on building resiliency, organizational advancement, encouraging individual philanthropy, and pre-development. We collaborated with others in the funding community to achieve our goals, and we engaged in advocacy where we believed we could help strengthen our communities. Only by working cooperatively will we succeed.

The $2.4 million Nonprofit Sector Health Insurance Initiative, unveiled in July by our partners at The Foraker Group, is a key example of our effort to help build resiliency. Rasmuson Foundation is supporting the initiative through early enrollment incentives and comprehensive health risk management enhancements, and we will pick up the tab for management and evaluation. The rising cost of health care jeopardizes nonprofits' ability to deliver essential services and effectively recruit and retain talent. We are convinced that banding together with others can lower the cost of health care for uninsured and underinsured nonprofit employees.

Healthy, stable organizations are critical to Alaska. The Organizational Advancement Fund is designed to strengthen the effectiveness and impact of Alaska's arts and culture organizations, and in 2008, over 30 grants of between $1,800 and $60,000 were awarded statewide to encourage sustainable operations and strong leadership. Examples of these grants include a $5,000 grant to the Denali Arts Council to facilitate a strategic planning retreat and a $60,000 grant to the Homer Council on the Arts to cover costs of comprehensive planning, organizational assessment and strategic planning. From Dillingham to Douglas and from Eagle to Eyak, we supported efforts in Alaska's nonprofit sector to strengthen leadership and build long-term sustainability.

We spent a good deal of time in 2008 working in collaboration with partner organizations to encourage individual philanthropy in Alaska. Every state resident who filed online for their annual Permanent Fund Dividend could, for the first time ever, give to one or more of 330 Alaska charities through the PFD Charitable Contributions Program, also known as "Pick. Click. Give." In its inaugural year, $545,000 was donated to Alaska's nonprofits. Rasmuson Foundation led efforts to pass House Bill 166 (sponsored by State Representative Bill Thomas of Haines) which created this opportunity and committed $900,000 to cover the cost of implementation. This new charitable giving option for Alaskans was made possible through co-funding and collaborations with The Foraker Group, United Way of Anchorage, Mat-Su Health Foundation, ConocoPhillips Alaska, BP, and the Alaska Mental Health Trust Authority.

The Pre-Development Program exemplifies planning ahead and working cooperatively with funding partners. Together with the Denali Commission, the Alaska Mental Health Trust Authority, and The Foraker Group, we invited organizations to undergo a rigorous vetting process to ensure their capital project meets a documented community need, is appropriately sized and sustainable over the long-term, and has fully explored all options for collaboration and sharing of facilities. The original concept for a new Seward Community Library and Museum, for example, had a price tag of over $20 million. Once the community underwent the Pre-Development Program, they embraced a more efficient and sustainable $10.2 million facility. Conceiving solutions in a vacuum is not an option, especially when it comes to large projects in times of limited resources.

Rasmuson Foundation maintained its core support of Alaska nonprofits through our Tier 1 program. Grants under $25,000 for assets such as furnishings, buildings, audio and video equipment, books, medical equipment, technology, art supplies, sports equipment, musical instruments, vehicles and other such "bricks and mortar" items are a critical part of how we support community. To wit, 96 Tier 1 grants totaling over $2 million were awarded in 2008 to projects statewide ranging from a technology upgrade at Kotzebue's Chukchi Consortium Library to exercise equipment for the Ketchikan Pioneers' Home Foundation. Our Tier 1 program supported projects in small communities like Togiak and Kake, larger hub communities like Barrow and Kodiak, and in the population centers of Anchorage, Juneau, and Fairbanks. When combined with programs such as the Individual Artist Awards and the Sabbatical Program, our small grant programs funded well over 130 organizations and individuals in their efforts to make our communities stronger.

Also in 2008, the Foundation awarded 55 Tier 2 grants totaling almost $13 million. Examples of such grants include $459,000 for completion of the interior build-out of an education center at Yuut Elitnaurviat - People's Learning Center in Bethel; $467,000 to Mat-Valley Community Charities Agency for the purchase of a retail condominium to house The Treasure Loft thrift store; $200,000 to Rural Alaska Community Action Program (RurAL CAP) to convert an Anchorage apartment building into affordable housing units for low-income individuals with disabilities; $1.5 million to Safe Harbor Inn to purchase the Anchorage Ramada Inn and convert it into transitional housing for low-income persons; and $250,000 toward site development, including a feasibility study grant of $25,000 to Trailer Art Center's MTS Gallery, all part of a multi-year commitment to revitalize the Anchorage neighborhood of Mountain View.

In total, the Foundation made 252 grant awards for a total of $22 million in 2008. For a complete list of all grant awards please click here.

Rasmuson Foundation has an endowment, structured and managed to benefit Alaska in perpetuity. Our endowment is comprised of diversified investments, many of which turned upside down late last year. As a result, our asset value on January 1, 2009 was $401 million, a drop of roughly 30 percent from a year earlier. For a private family philanthropy that funds grants on earnings from asset appreciation, it hit like a blast of minus forty degree wind. I spent my life working in and around the markets and never did I imagine the events of the final quarter of 2008 through the present. It's a sobering reminder of how volatile investments can be. One might ask oneself whether the fundamentals of our economic system are in danger. I believe the answer is no, and I remain cautiously optimistic. However, it is likely never to be the same.

We will spend much of 2009 collaborating with public and private organizations and institutions to identify and support projects that help Alaska survive this economic downturn. In his memoir, Hensley time and again acknowledges the contributions of the people around him and the importance of working together. We couldn't agree more. For 53 years, Rasmuson Foundation has been inspired, guided and sustained by the words of my father Elmer Rasmuson, "Helping others is an Alaska tradition." I find it heartening how those words harmonize with Hensley's description of the cooperative imperative of life in the Arctic: "Only by working together could we survive." I'd like to think our greatest accomplishments at Rasmuson Foundation in 2008 were those where we worked together to help others.

Sincerely,

Edward B. Rasmuson
Chairman
June 3, 2009

View past letters:

2008 Annual Letter to Alaskans
2007 Annual Letter to Alaskans
2006 Annual Letter to Alaskans
2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans

2010 annual letter to alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:56:56 +0100

2010 Annual Letter to Alaskans

Almost 50 years ago, Alaska's Southcentral communities of Valdez, Seward, Kodiak, and Anchorage were rocked by the largest earthquake ever recorded in North American history. The powerful quake temporarily liquefied soils, destroyed homes, structures and streets, disrupted electric and phone service, ruptured water, sewer and gas lines, and created a 400-mile-an-hour tsunami that reached shores as far away as California and Hawaii. Alaskans of the 1960's had never experienced a natural catastrophe of this magnitude and, in its aftermath, were quick to respond, first to stabilize and second to rebuild the state.

Optimistic and action-oriented Alaskans of all stripes, including my father Elmer, stepped up to lead through the crisis. Elected Mayor of Anchorage six months after the quake, he felt that his pragmatic business experience could be of help during a complex time. In his autobiographical account of the times, "Banking on Alaska: The Story of the National Bank of Alaska," my father explained his approach to dealing with tough challenges: analyze the facts; make decisions in an orderly sequence; break problems down into manageable size; and provide people with the means to take on important tasks. He concluded by observing, "This emphasis on the sharing of the work and the responsibility is the crux of my philosophy of life and management."

The current global recession clearly manifested itself in Fall 2008 and reached its most acute point in March 2009. Most Alaskans, myself included, had never experienced an economic catastrophe of this magnitude. As it unfolded, there was an abundance of fear but no ready answers. Here at the Foundation, as the value of our assets fell quickly, we remained determined to be both optimistic and pragmatic. Guided by the principle of preserving the Foundation's assets for the long-term benefit of Alaska, we made the following assumptions to guide our 2009 work:

Demand for basic services would climb significantly, challenging staff and pressuring operating budgets as our non-profit community responded;
Giving by Alaskans – individuals, corporations and foundations – would be largely redirected to meet this increase in demand; therefore support for other nonprofits and individuals would decrease;
Funding, be it either public or private, for new large capital projects would be sharply curtailed, at least in the short-term;
Our grantmaking would refocus on needs as opposed to wants until the crisis provided more insight about its ultimate resolution; and
All grant commitments made in prior years to nonprofit partners but not yet paid would be honored.

Because of the steep decline in asset value, we immediately reduced our operating expenses so that more resources could be redirected to our partners in the form of grants. At the same time, we asked our grantees to share the work and responsibility of improved, real time communication so that we could evaluate the readiness of previously funded projects to take grant payments. We anticipated that many projects funded in prior years could experience delays and wanted to be sure that, in those cases, dollars could be immediately redirected to meet current needs. We owe a debt of gratitude to our partners, all of whom worked proactively with us to map out the year.

While navigating 2009, Rasmuson Foundation paid out $16.2 million to nonprofit organizations across Alaska, the majority of which was granted in prior years. The Foundation approved $4.4 million of new grants. Maintaining its commitment to small capital grants, the Foundation awarded $1,305,199 to human services, health, recreation, cultural activities, and arts projects for 79 projects. The average small grant award was slightly smaller than in previous years, reflecting our nonprofit partners' focus on immediate needs.

During much of 2009, the Foundation did not invite new applications for large grants. The reduction in other sources of funding that typically help make these new projects possible coupled with our commitment to act cautiously until the market began to sort itself was complemented by the nonprofit community's recognition that subsequent years might be more opportune for proposing complex projects. However, once the markets stabilized later in the year, we awarded eight new large capital grants totaling $2,275,401.

Our ability to both continue and strengthen our commitment to Alaska relies on well-managed resources. As one might expect, we've spent a significant amount of time reviewing our investment strategy, working hard to understand if and how our assumptions must change in light of both the severity of the downturn and what many are calling the "new normal". I am pleased to say that we remained calm during the depths of the downturn, and were rewarded as our assets recovered slightly, growing from approximately $401 million in January 2009 to $425 million in late December. This 5.2 percent growth was healthy when compared to 2008 which, in contrast, was marked by a steep plunge in the market value of our assets. While we may ultimately adjust components of our investment strategy, its goal of balancing growth with risk minimization will not change.

What will 2010 and beyond look like? Is there such a thing as a "new normal" and, if so, what is it? Events like this recession serve to remind us that, as Danish physicist Niels Bohr observed, "Prediction is very difficult, especially about the future." We will make a series of informed guesses about how 2010 will unfold and yes, we will remain cautious. While the next earthquake and the next financial downturn lurk in the future, and they will perhaps manifest in ways we've not anticipated, Alaskans have consistently and necessarily worked through these kinds of adversity, guided by optimism and an action-orientation, ultimately turning challenge into opportunity. We remain inspired by and committed to working with the many nonprofit organizations and individuals in our state who are dedicated to improving the quality of Alaskan's lives. In the tradition of Alaskans, the Rasmuson Foundation is glad to lend a hand.

Sincerely,

Edward B. Rasmuson
Chairman
May 17, 2010

View past letters:

2009 Annual Letter to Alaskans
2008 Annual Letter to Alaskans
2007 Annual Letter to Alaskans
2006 Annual Letter to Alaskans
2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans

2011 annual letter to alaskans

Rasmuson Foundation — Thu, 10 May 2012 12:56:44 +0100

2011 Annual Letter to Alaskans

A guiding principle for Rasmuson Foundation is reflected in one of my father Elmer's sayings: "A community that invests in itself is a healthy community." His philosophy manifested itself in both his professional and philanthropic pursuits. As a banker he expected people to invest their own money in their homes and businesses before they asked him to provide a loan. By extension, it has become requisite to our grantmaking that a community is willing to invest in itself before it receives Foundation support.

Alaska is a large, predominantly rural state, with a thin philanthropic resource base. Despite being Alaska's largest private social investor, Rasmuson Foundation recognizes that it alone does not have sufficient resources to either catalyze or address all issues. We believe the future success of Alaska's nonprofits rests on our collective ability to build both philanthropic and nonprofit capacity on both a statewide and local level. To this end, we've funded numerous high leverage strategies to strengthen communities:

The Community Asset Building Initiative (CABI) is designed to increase the capacity of local communities to identify priorities and solve problems; encourage the creation of permanent charitable assets for Alaska communities; and, create sustaining sources of support for valued Alaska nonprofit organizations. A result is the creation of new community funds affiliated with the Alaska Community Foundation, in Haines, Petersburg, Talkeetna, Seward, and Kenai Peninsula, and support for existing community funds in Homer and Juneau.
Pick. Click. Give. is structured to encourage individual philanthropy and strengthen the sustainability of the nonprofit sector; it provides a source of unrestricted dollars for participating organizations; and, thanks to its association with the Alaska Permanent Fund dividend program, it exposes every man, woman, and child in the state to the good works of the nonprofit sector. In 2010, 9,500 people contributed nearly $1 million to 370 nonprofit organizations across the state, a 100 percent increase over the inaugural year of the program.
Our broad coalition with other funders in hosting the Annual Educational Tour of Alaska for Grantmakers introduces funders from across the country to a variety of organizations and leaders working to improve the quality of life in the state; it helps grantmakers make prudent decisions about their social investments; and, it prioritizes exposure to rural Alaska as a means to spotlight much of what makes this state unique. For example, past participant W.K. Kellogg Foundation of Battle Creek, MI, has invested over $4 million in the Dental Health Aide Therapist program at Alaska Native Tribal Health Consortium and Exxon Foundation recently became a new donor to University of Alaska Anchorage's Alaska Native Science and Engineering Program.
Our continued support for The Foraker Group is intended to strengthen nonprofit capacity through shared-services and technical assistance; increase leadership and management skills of professionals and volunteers working in Alaska's nonprofit and tribal organizations; and, build philanthropic capacity across the entire state. Over 400 nonprofits are now Foraker partners, representing all sectors statewide.

Each of these initiatives received renewed support from Rasmuson Foundation in 2010.

In addition to support for these programs, in 2010 we made:

21 Tier 2 capital and capacity building grants totaling $5,412,238;
108 small (under $25,000) Tier 1 capital awards totaling $1,868,751;
29 Individual Artist Awards totaling $219,021; and,
6 Sabbatical Program awards totaling $176,704.

In total, the Foundation made 219 grant awards for a total of $14,972,997 in 2010. For a complete list of all grant awards please click here.

Our ability to both continue and strengthen our commitment to Alaska and its communities relies on well-managed resources. That we remained calm during the depths of the downturn is proving its strategic merit as our assets continued to recover, growing from $431 million in January 2010 to approximately $465 million by December. While the Foundation has made adjustments to strengthen long-term liquidity, it continues to diversify its predominantly equity-oriented portfolio which produced a 12.8 percent return last year. The Foundation is committed to spend no more than a set percent of the annual average market value of its endowment and the main objective of the endowment is to enhance its real value over time. Our investment strategy, which balances growth with risk minimization, lays the groundwork for stable, long-term growth consistent with our planned grantmaking activities.

We at Rasmuson Foundation believe the most effective way to support our communities over the long term is to move forward as partners. When we assist the groups who address basic needs, special circumstances, and the arts and education, we contribute to healthy, enriched, and productive lives. We have found that my father's expectation that a community invest in itself has indeed helped enrich Alaska.

Sincerely,

Edward B. Rasmuson
Chairman
May 20, 2011

View past letters:

2010 Annual Letter to Alaskans
2009 Annual Letter to Alaskans
2008 Annual Letter to Alaskans
2007 Annual Letter to Alaskans
2006 Annual Letter to Alaskans
2005 Annual Letter to Alaskans
2004 Annual Letter to Alaskans