FN&C Now

Volume 7, Number 31 – July 28, 2006 IN THIS ISSUE NEWS COVERAGE: Lilly Endowment plans partial diversification of stock holdings AT THE COUNCIL: Participate in Foundations on the Hill–District Days; report shows community foundations investments received 7 percent return in 2005; register for fall teleconferences on foundation management and leadership; sign up for Breaking News JUST PUBLISHED: Report describes challenges of launching a Green Revolution in Africa AWARDS ROUNDUP: Brian Magee wins Phyllis Campbell Newsome Leadership Award; William T. Grant Foundation announces new fellows NOW ONLINE: Executive summary and resource materials available from Workforce Investment Symposium ACT NOW: Register for BoardSource Leadership Forum ON THE MOVE: Deborah Leff and Larry Kressley (Public Welfare); Peter W. Bruce, Janine P. Geske and David J. Lubar (Greater Milwaukee); Darren Walker, Peter Costiglio, et al. (Rockefeller); David M. Coit, Sandra Featherman, et al. (Maine Community); Ruth E. Bryan (Ruth Mott) NEWS COVERAGE DIVERSIFICATION AHEAD: Lilly Endowment Inc. plans to diversify some of its investment in Eli Lilly and Company stock by 2010. The endowment, which at the end of 2005 held more than 140 million shares of Lilly stock valued at $8.4 billion, has been almost 100 percent invested in Lilly stock since its establishment in 1937. Depending upon market conditions and other circumstances, however, it expects by build a more diversified portfolio of about $2 billion while holding as its primary investment asset shares of Lilly stock that were donated to the endowment by its founders. Endowment Chairman Thomas M. Lofton said, "Lilly Endowment has for many years enjoyed substantial benefits from its holding of Eli Lilly and Company stock and believes that Lilly stock will continue to be a rewarding investment. Nonetheless there is wisdom in embarking upon some level of diversification." Read more (PDF): http://www.lillyendowment.org/pdf/Announcement%20of%20Diversification.pdf . AT THE COUNCIL DISTRICT DAYS: In March, a record number of foundation representatives from across the country converged on Washington, DC, for Foundations on the Hill 2006. To follow up, the Council on Foundations and Forum of Regional Associations of Grantmakers are cosponsoring Foundations on the Hill–District Days. The initiative is a month-long effort to encourage foundation representatives to meet with their members of Congress during the summer district work period in August. Foundation staff and trustees can continue to strengthen the relationships established during their visits to DC. Those who were unable to participate in Foundations on the Hill can build relationships with their senators and representatives closer to home. Find out more: http://www.foundationsonthehill.org . INVESTMENT PERFORMANCE: Following double-digit returns in 2003 and 2004, the average community foundation produced a respectable 7.0 percent return during 2005, resulting in three-year median returns rising above 13 percent per year, according to the 2005 Investment Performance and Practices of Community Foundations from the Council on Foundations. The final report's executive summary, key tables, and individual multiyear and calendar-year performance data are available online for Council members. The data are presented for 165 community foundations and 185 portfolios (20 foundations are in both corporate and trust form). The full report will be distributed two weeks before the Fall Conference for Community Foundations, September 18–20, 2006, in Boston. Download the executive summary and nine key tables (PDF), plus two of the appendixes (Excel), at: http://www.cof.org/learn/content.cfm?itemnumber=567&navItemNumber=2430 . TELECONFERENCE SERIES: Council on Foundations members may join Council staff, experts and colleagues for teleconferences featuring candid conversations on foundation management and leadership. Topics and dates are: The Philanthropic Sector and Congress: Partners on Charitable Reform (September 12); Dealing with Difficult Boards: Strategies and Solutions (October 10); Leading with Diversity (November 14); and Investment Leadership: Taking Back Control (December 12). Each teleconference will be held from 2:00 to 3:30 p.m., ET. Register or find out more: http://www.cof.org/action/content.cfm?itemnumber=515&navItemNumber=2556 . FREE NEWS SERVICE: Breaking News is a free, daily e-mail newsletter summarizing the top articles—mostly from national and regional newspapers—about philanthropy. Breaking News is available to Council members, as well as members and staff of our colleague organizations. Subscribe by e-mailing your name, title and foundation name to media@cof.org. JUST PUBLISHED GREEN REVOLUTION: Africa's Turn: A New Green Revolution for the 21st Century, from the Rockefeller Foundation, describes the challenges of extending the first Green Revolution, a carefully crafted philanthropic effort from 1960 to 1985 that dramatically improved crop harvests in Latin America and Asia, to small farms in Africa. The report says "though Africa presents a new set of unique challenges, the basic elements of the first Green Revolution still apply, at least in broad strokes, to the needs of African farmers today." Download the report (PDF): http://www.rockfound.org/Library/africas_turn.pdf . AWARDS ROUNDUP LEADERSHIP AWARD: Brian Magee, executive director of the Montana Nonprofit Association, is winner of the 2006 Phyllis Campbell Newsome Leadership Award. The award is presented by the National Council of Nonprofit Associations (NCNA) to a leader in the state association network who has dedicated his or her career to serving others and views the nonprofit sector as a vehicle for that service. Magee has also worked at the Chicago Community Trust and was recently recognized as one of Helena, Montana's, "20 Under 40" by the Helena Independent Record. Magee receives a cash prize, as well as complimentary registration and travel expenses to the Nonprofit Congress National Meeting and the 2006 NCNA Member Meeting in Washington, DC, this October. Read more: http://www.ncna.org/index.cfm?fuseaction=page.viewPage&pageID=694&nodeID=1 . NEW FELLOWS: The William T. Grant Foundation chose two individuals for its second group of Distinguished Fellows. The fellows, who will both receive up to $175,000 to improve the connection between practice, policy and research in the youth development field, are Martha A. Holleman, senior policy advisor, Safe and Sound Campaign, Baltimore; and Robin Nixon, executive director, National Foster Care Coalition, Washington, DC. The fellowship allows influential mid-career practitioners and policymakers to work and be mentored in research settings and gives researchers the opportunity to immerse themselves in practice or policy settings. If the foundation's pilot of the fellows program is successful, the fellowships will become a part of the foundation's ongoing grantmaking. Read more: http://www.wtgrantfoundation.org/newsletter3039/newsletter_show.htm?doc_id=385452 . NOW ONLINE WORKFORCE INVESTMENT: In May, the Council on Foundations held the Workforce Investment Symposium, bringing together philanthropic leaders, workforce experts and policymakers to discuss the role of philanthropy in workforce investment. Attendees addressed the importance of funding workforce investment programs and explored ways to collaborate and expand opportunities. The ultimate goal was to encourage discussion and provide participants—as well as the wider field—with ideas and best practices to support and promote workforce investment funding and programs. Read the executive summary and other resources: http://www.cof.org/Action/content.cfm?ItemNumber=4809&navItemNumber=1988 . ACT NOW BOARD FORUM: Register for the BoardSource Leadership Forum, to be held December 3–4, 2006, in Chicago (pre-sessions will be held December 1–2). The forum will help boards move from good to exceptional. Session topics include fundraising and board members, building a board around your strategy, coping with troublesome board members and exploring what makes exceptional board teams tick. Early-bird registration ends July 31. Register or find out more: http://www.boardsource.org/Workshops.asp?ID=43 . ON THE MOVE The Board of Directors of the Public Welfare Foundation announced today that it has selected DEBORAH LEFF as its next president and chief executive. Leff will succeed longtime Executive Director LARRY KRESSLEY, who will leave the foundation in October. Read more: http://www.publicwelfare.org/news/news/director_jul2006.asp . The Greater Milwaukee Foundation elected PETER W. BRUCE, JANINE P. GESKE and DAVID J. LUBAR to its board. Read more: http://www.greatermilwaukeefoundation.org/content/view_article.xpl?article_id=161 . Rockefeller Foundation promoted DARREN WALKER, director of its Working Communities program, to vice president, effective August 1. Read more (PDF): http://www.rockfound.org/Library/d_walker_vp_pr.pdf . The foundation also hired PETER COSTIGLIO as director of communications. Read more (PDF): http://www.rockfound.org/Library/costiglio.pdf . On August 28, 2006, LAWRENCE MANGAN will become the foundation's chief financial officer. He succeeds CHARLES LANG, the foundation's director of financial resources, who will retire today. The Maine Community Foundation named DAVID M. COIT, SANDRA FEATHERMAN, CARLETON "DAVIS" PIKE and MARY "POLLY" R. SALTONSTALL to its board. RUTH E. BRYAN joined the Ruth Mott Foundation as archivist program manager. SPECIAL OFFER The Council on Foundations has a special offer made possible through the Building Strong and Ethical Foundations program. New foundations can receive a half-priced non-member registration rate at any Council conference. In addition, they can also join the Council and receive half-priced membership dues. Your foundation may qualify—even if you've been grantmaking for several years. For specific eligibility information and more details, please contact the COF Membership Department at 202/467-0291. SUBSCRIBE FN&C Now is published by the Council on Foundations to keep you in the loop by sharing news between bimonthly editions of Foundation News & Commentary magazine (FN&C Now Web archive: http://www.foundationnews.org/now/index.htm ). Please feel free to forward this message to your friends and colleagues who might enjoy it. To subscribe (it's free) to FN&C Now, send an e-mail to fncnow@cof.org . Questions or comments about FN&C Now? Contact Paula J. Kelly at 202/467-0261. To contribute a news item for consideration, please e-mail fncnow@cof.org . To unsubscribe, send a blank e-mail to leave-fncnow-4832R@int1.cof.org . To subscribe to Foundation News & Commentary, an award-winning magazine, please send an e-mail to fncsubs@cof.org , or visit our website at http://www.icnfull.com/cgi-bin/cobolscript.exe?cof/cofmain.cbl . Council on Foundations 1828 L Street, NW Washington, DC 20036 202/466-6512 webmaster@cof.org last update: 10.16.06